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This is a quick reference on Technical Trading and what you need to know:
1. Everything Starts and Finishes with Candlesticks. If you do not understand how to read candlesticks, you should not be trading. There are infinitely many sites and graphs that explain them, but because when I learned it ter 2004 there were very few, I’m still partial to Chart Schoolgebouw on StockCharts.com. Attempt to read a few PDF’s like here, here & here, but if you search the web, you should be able to find books spil well.
Tone Trading Peak : The candlesticks that matter to mij are Doji, Shooting Starlet & Hammer. If you learn anything from my movie’s & seminars, I hope it’s how to utilize thesis Trio candles.
Two. Support & Resistance – This comes ter many forms, but I like to simplify it to just Three types:
A. Horizontal – Where prior points of rente like highs and lows create critical price levels
B. TrendLines – Where a straight line can be drawn connecting Trio highs or lows at different price points
C. Moving Averages – There are always debates on Ordinary vs. Exponential (I choose the Elementary 50 & 200 spil a reference)
There are lots of extra instruments ter this section that many traders love, but it’s crazy to use them all. Here are some I personally do NOT care for but other traders swear by them: Bollinger Bands, Ichimoku Cloud (too convoluted for mij), Pivot Points, Volume by Price
Tone Trading Peak : Ter my practice, Dual Tops/Bottoms are NOT Resistance/Support (Triple is even less so). I believe you only get one chance to sell the top and one chance to buy the low. If you see a Dual Top or Bottom expect a Breakout or Breakdown soon.
Trio. Chart Patterns – I find this to be very useful because not only is it helpful ter identifying potential direction of a budge, it also helps with identifying target points of how big the budge should be. ChartSchool covers this te two sections: Intro to Chart Patterns & Chart Patterns.
Once again there are lots of resources online but my beloved Patterns are: Ascending or Descending Triangles (Symmetric spil well but they are less predictable spil to which direction it will pauze). I do however like Symmetric triangles when part of a Flag Pennant. (like shown here) I have also had good comebacks using Cups & Treats.
Tone Trading Peak : Head & Shoulders is a very evident pattern so I infrequently talk about it but it’s Ok. What I DO NOT truly care for are Wedges & what I like to call Creature Patterns (ex: Crab, Butterfly, Bat)
Four. Momentum Indicators – There is an staggering amount of them so please read a well waterput together Introduction to Technical Indicators and Oscillators. You can also review the more popular ones individually listed under the Technical Indicators heading. Just like with Moving Averages, I choose to use the most popular ones & take advantage of group think vs something obscure that only the very few identify spil a trading symbol. For this reason I advise commencing with understanding the MACD, RSI, Stochastic, StochRSI, CMF, CCI & ADX.
Tone Trading Peak : My most beloved way of utilizing MACD & RSI is by looking for Divergence. And for the Love of Maker, please do not turn into one of thesis guys ??
Five. Advanced Chart Annotations – Trendlines were covered above and the concept of using Trendlines to make Trend Channels is straight forward, but there are more advanced “Chart Annotation Tools” many traders use. My dearest on this list is the Fibonacci Retracement. Other traders also like using the Fibonacci Arcs & Ventilatoren and Andrews’ Pitchfork is a popular device.
Tone Trading Peak : Always have a zekering loss for the trades you inject, either mentally or automated you have to know ahead of time at what point your trade failed.
6. Time Analysis – This concept is very significant and most traders do not even know it exists. It is slightly covered on ChartSchool with Cycles and Fibonacci Time Zones, but there is so much more that needs to be learned for those looking to become good traders. Martin Armstrong for example, cares way more about time ter his trading than price and spil the readers of this guide know, I’m a thick fan of trading the Tom DeMark Indicators. I have seen the TD Indicator be used on Wall Street very successfully and the largest reason most traders (especially Crypto Traders) have not heard of it is because it is limited to the $Two,000/month Bloomberg Terminal with a $500/month trader package. Here are extra resources for readers to better understand this indicator:
And Many other resources that could found on-line once you know what you are looking for. One of my favorites is this presentation by Bloomberg Market Essentials: Technical Analysis. (You can download the TD Indicators Book by Jason Perl by clicking the verbinding on pagina 1)
Tone Trading Peak : TD is an advance indicator for experienced traders, and it is not a one size fits all. Five different traders can be trading it differently because it provides lots of information. Most of my time consulting clients is spent explaining this indicator.
Here are serious references like books and exams that professional need to be familiar with:
Chartered Markets Technician (CMT) Exam webstek has lots of resources for those interested ter the highest level of Technical Analysis