Then you go from there & you TWEAK it over time to what work & what doesn’t for YOU
How I begin in Technical Analysis (THREAD)
I took a trader I liked & copied everything on the chart to mine (COLORS & INDICATORS)
This way you can ‘’see’’ what he see. Every time he post charts & updates you look at it & try to understand/notice how the chart moved
Then you go from there & you TWEAK it over time to what work & what doesn’t for YOU
The one I chose used 200/50 SMA as target or support. I quickly noticed how accurate this was. So I kept it, use it & def my fav indicator. The accuracy of the 50/200 SMA when used as target is insane & on the other side, when used as support
You’ll also notice the 50/200 are good entry zone cause it give an amazing R/R. You hold as long as it hold. If break down, I learned to let some wiggle room
I know many use them but I dont
Later on I saw someone using the 100 SMA so I added it to try it. After some time I notice that is was very accurate as resistance so I kept it (3rd tweak!)
You can see me mentionning ‘’The 3 Large SMA’’ quite often. There the WHY
First I learned what they do using google
Then I was watching what the RSI & the MACD look like when the trader I chose post chart
You’ll notice quick enough how they look
The RSI was always curling up about to cross 50
The MACD was curling up & about to cross with the signal
Then you THINK
Do the play work more than not when those 2 are curling up? YES! Then I was looking for that on my plays. I kept them both
Then every time he posted a chart, the Slowstoch was ‘’in the basement 😉’’ and also curling up
When those 3 curls (very nice looking curl) I had succes so I kept it too.
He was using ADX wich I was too but
‘’Charting is SUBJECTIVE’’
Think about it! Interpret them as you want & as you like as long as it work
200 RED
50 BLUE
100 GREEN
The EMA are often more flashy colors
This is one hella perfect setup in the right sector
I posted $BNTC as a swing in a good position to our liking off the large SMA & here the results once it breakout
*Notice the indicator curl like we talked about
https://t.co/FWpF1FoXjJ
$BNTC Getting accumulated and another one with a daily breakout
— Amanda C (@AmandaCStocks) May 10, 2021
4m float with 7% short
Will scale in that one & swing it for a fews day too!
Can see 5-6$ real quick pic.twitter.com/sCXN967ZgT