TRADING OPPRITUNITY! Up or Down move sets us up!

in forex •  11 months ago

GBPCHF 4Hr Chart, Crab and Bat Pattern

GBPCHF.png

Excited for this move! It could go up or down and we have a plan!! :)

In this abstract work of art, we have a valid Crab pattern (1st pattern), and a Bat pattern as well (2nd). With the Bat pattern, there is the potential to trade from the B point down (BAMM) - and potentially to the next support/resistance, if it keeps shows no sign of stopping at the D Point.

I've got a Relative Strength Index that I like to use for extra validation at the bottom that I'll be looking out for.

Thanks for checking it out, good luck in the markets! :)

Up, Resteem U5dt42G4xW1EyBKDCHWEBSZLxMxDnZk.gif, @corganmusic for more

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Oh snap I want to learn more about wild TA beasts like crabs and bats and flags and heads with shoulders and teacups.

Where in the world wide open web do you learn this stuff?

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I learned at sixfigurecapital.com, its a little expensive, but the 14 day course is worth it alone - you can learn everything you need to know about harmonic patterns there!
Here's something on finding a Bat pattern... my ratios are a bit different from his but the concept is the same.


When it breaks down to it, you end up trading some kind of Support/Resistance and candlestick patterns - so that's a must know foundation.

You trading anything at the moment?

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Thank you for this!

Not at the moment - I jumped into cryptos this summer for a few months, was reading like crazy all that I could find, kept a small pot on poloniex and tried to play like a master!

Mostly what I learned is that I have a lot to learn! Luckily it was just a small portion - I moved into some long term positions in late september as some other projects picked up, but I haven't lost the interest.

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I'm with you on wanting to learn more! Crypto is a whole different animal with more reliance fundamental analysis, and I haven't gotten into it as much as I'd like to. Kinda plan on just investing in the coins I trust. If you see anything cool comment it in my post (so I'm notified!)

I was looking into ETN, but they haven't gotten their wallets working, over a week past launch...

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Will do! I only look at use cases, not just philsophical tech. Ive been riding the waves with antshares (neo) to great sucess over the last 4 months. Very calm surges and dips as it heads for the heavens.

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What do you mean Use Cases vs Philosophical Tech, and why do you choose Use Cases?

I checked out NEO, there's a Gartley on the daily, meaning if it goes down to D point, then it would be a Buy, provided some other indications, (candlesticks, RSI, etc)

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These are phrases I guess I have defined in my mind.

Philosophical tech are interesting ideas for technology without any implementation or maybe not even thought about implementation.

Tech that is in development should have what is called a 'use case' - or a situation where the tech would actually be useful! Currently steem has one of the best use cases through the steemit and other condenser platforms. Etherium, neo, musicoin, litecoin etc these are coins with use cases, that is they are usable to do stuff in the real world.

Whenever a coin without a use case goes up, I am sure it will come back down. Whenever a coin with a solid use case and community goes down, Im pretty sure it will go back up.

In my humbe opinion the use case of bitcoin has been getting weaker - the only case it has left are for huge transactions and transfers several bitcoins and higher. Bitcoin is now the rich mans coin, in terms of use case.

I hope I have explained my thinking on crypto/altcoin investing - its nice chatting with you!