Steemit Crypto Academy Contest / S15W6 - Chartist analysis.
My dear friends, I hope you are well, here we come again to the last week of engagement challenge season 15. The theme of this year's contest is Chart Analysis. So let's know the details below and try to answer the questions according to the theme of the contest.
Some information about candlesticks.
A candlestick is a reflection of thousands of transactions over a period of time. When we go to the trading view, we can see 15-minute candles, half an hour, an hour, even a week, a month, and a day's candles. Through this candle analysis we can understand whether the market is running in an up train or a down train. I can also understand whether the market will go up or retest down. These thousands of transactions we see only in this candlestick. Candles end in a certain period and the next candles are previous candles through the analyzer we can understand and what can happen in the future. Although a highly volatile market, no one can give 100% accurate information here.
Think if you see clouds in the sky, now you should go out with an umbrella because rain can fall from the clouds at any time. The importance of this candlestick is hidden in this little word. If there are clouds in the sky, then you must go out with an umbrella, otherwise, you will get wet in the rain. If there are clouds in the sky, then we will go out with an umbrella. A small plan for the future.
This is a graph where by analyzing the historical data of the previous day and even by looking at the movement of the candlestick pattern, we know the next candlestick or market trend. Charttest analysis. Traders and investors work with them. Through graph charts and candlestick analysis they can extract signals from the market and generate profits through investment. If you do not analyze the market correctly, there is a possibility of loss. From this we can easily say that the analysis is done from the four, the result is taken out for trading, we can call him chartist.
The importance of Chartist Analyzer is immense for traders. A trader comes to the market to trade for profit. The need to analyze this graph or candlestick data is definitely important so that his investments are not lost. And those who are professionally involved with trade know how to analyze them in a professional way. Because of that they are less time facing losses.
Importance of Chart Analysis:
Due to chart analysis, it is very easy to understand whether the market is going in an uptrend or a down train, can invest in time and understand the profit and sell out of the market. Charts and antibiotics are essential for analyzing trades. To make any investment for long or short, he will actually buy according to the data of this candlestick and chart graph and increase the investment in the market. No one actually wants to face loss here, the more experts start to analyze the more advantage he will get while trading. After all, it can be said that the importance of chart analysis is immense for trading.
I have drawn the left solder, right solder and head solder in the screenshot. Sometimes the left side of the solder may be a little higher, the right side may be a little lower, and the right side may be higher, the left side may be lower, but the head will always be higher. A head and shoulder pattern is formed when the market continues to go up, then goes up again with a small retest and then goes up again with a small retest. Its structure is like that from shoulder to human head. It is called head and shoulders because it looks like a human.
To seal the solders you need to select a top head and take a top head on the left side and a top head on the right side. However, the two left and right side solders should be below the top head. In the above screenshot you can see that the highest candle top on the left side of the head is the left solder and on the right side the top candle below the head is the right solder.
Inverse Solder This candle is formed when the market goes down again and again, once the market goes up. It can be seen that the market is going to take it and try to go up a little again and go down and go up a little again and go to take it again in this way a down trend head left and right solder can be found. The head will be up during the up friend of the market and the head will be down during the down train. This is the down side move and off side move of the two head and shoulders. This shoulder candlestick can be seen when the market goes from bottom to bottom and back to top.
Of course, I will use chart patterns to analyze steem market price. By using chart pattern I can find out its weekly monthly and daily data from there. I can understand everything through the chart whether the market is at or planning to go up with the down friend request. All types of cryptos are bought and sold by analyzing the charts and its future is known approximately and traders trade and profit.
So of course to buy and sell or trade I will analyze the steam chart and then make the investment and through proper analysis it is possible to profit it is the best thing. Above I am giving chart analysis of Steem USDT.
Thanks to everyone here is an invitation @ripon0630 , @solaymann ,@msharif
Greetings friend,
Indeed chart patterns and candlestick analysis are like a crystal ball for traders and investors as they use these graphs and patterns to predict the future movement of the market. It's all about understanding whether the market is going up or down and making timely investments to maximize profits.
By analyzing these charts and candlestick patterns, traders can spot signals in the market and make informed decisions. It's like having a cheat sheet that helps them avoid losses and make smart investments. Nobody wants to lose money, right?
So, the importance of chart analysis is huge because it helps traders understand market trends, make timely investments, and ultimately increase their chances of making profits. It's like having a secret weapon to navigate the trading world. All the best with your entry.
Thank you very much for your comment that explains everything nicely.
Thank you very much for your comment that explains everything nicely.
In my experience, understanding the story behind each candlestick is like reading the market's diary. Each transaction leaves its mark, and through thoughtful analysis, traders can unveil insights into the market's past, present, and potential future movements.
I think the emphasis on the Chartist Analyzer's role is crucial. Like a trusted guide, it aids traders in deciphering the market's language, enabling them to make informed decisions and significantly reducing the risk of facing losses. However , it's important to mention that nothing is fool proof and therefore risk reward management must always be followed religiously.
My observation is that identifying the head and shoulders pattern involves a bit of experiamce and skill. Selecting the right "top heads" on each side is akin to sculpting a recognizable figure within the market chart, giving traders a unique perspective on potential trends. we know that these figures are not formed exactly the way we study them , so experiance is key .
Good luck
Thank you very much for your nice comment and written everything with lots of explanations. Best things to experience in all areas.
Hello dear! Very amazing post. Wish you best of luck for the contest.
thank you so much.
It's my pleasure dear.
You have explained well the importance of chartist analysis and the prominence of chart patterns. Your post has given us information about various patterns which are useful in the opposite Head-Shoulders pattern and its opposite Head Shoulders pattern. Thanks for sharing the information.
Thanks for Your valuable information and comment.
Your most welcome my dear By the way you don't need to thanks always its my pleasure 💕
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
X promotion link
https://x.com/mostofajaman55/status/1760321951955026120?s=20
Well my dear friend how are you.....you have made great entry 💞🚫🚫🚫 and your hard work is depicting in your post
Thank you so much for the nice comment. They are really hard work.
Thanks for reply back ❤️
Your explanation of chartist analysis especially the emphasis on candlestick patterns is well-detailed and informative. The analogy of clouds and umbrellas to understanding the significance of candlesticks adds a practical and relatable touch to your explanation. The clear breakdown of the shoulder-head-shoulder pattern and its inverse supported by relevant screenshots demonstrates a solid understanding of these chart patterns. Additionally your commitment to using chart patterns for the technical analysis of Steem reflects a practical approach to trading decisions. Best of luck
thank you so much for your informative comment 😊
Dear friend
You took your time to explain the head and shoulder pattern, taking it details by details. You even accompanied the explanation with charts.
Like you mentioned, chart patterns are a major form of technical analysis. It gives you an update inform about the market and the current activities going on.
Thank you friend for this insightful article. I wish you the best in this contest.
thank you so much for your kind valuable comment. 😊