Tech Analysis 101 - Fundamentals Part 2 - Chart Patterns
Good morning class, Miss Behavin back after another rambunctious weekend.
Today we are going to touch on Chart patterns before diving balls deep into the different patterns tomorrow.
So what is a Chart Pattern?
Put quite simply, a chart pattern is just a bundle of trend lines that analyists use to predict a patterns and the future movements.
Some of the common patterns witnessed are the Cup & Handle, the Head and Shoulders, the Elliot Waves and my favourite pattern that was recently discovered by one of my favourite TA masters Mr @forexbroker is the wonderful Dick n Balls pattern Check him out here
We can also have a continuation pattern that shows a predicted path of resistance and support for as long as the pattern continues.
Patterns are not solid rules, they are only predictors from historical events, they don't always come true. They can only ever be used as a guide to forming an educated opinion. Especially in the case of Crypto markets, there are many other factors that can dictate price movements, so traditional Charting patterns have not always been shown to be the most accurate.
Stay tuned to the next lesson where we will look at the Head & Shoulders pattern
Hahaha what a way to make a post stand out.
Brother I am still so new I have no real idea what you are talking about but I would go to that teachers class anytime. I think she may could motivate me to learn. Nice! Peace friend.