A beginner's approach to Technical Analysis - MY FIRST POSTED CHART!

HEYA! I pretty much started with Steemit to follow some of my favorite crypto technical analysts, and since I'm spending hours on charts I thought might as well share some of my thoughts.

I am under no circumstance a pro (yet!), just trying to get a grip with consistent TA. Experienced analysts' feedback would be more than greatly appreciated, while newbies can have the ease of mind that there aren't only TA gods here on Steemit. I'm a beginner just like the majority here, only taking that risk to expose my potentially highly flawed charts. But hey, best way to learn, eh?

At the moment I'm doing only BTC. Here is what I'll be looking for during the next 12-36hrs:

It's a double scenario chart:

Secondary scenario is that the correction of the first (sub)Impulse Wave up has finished, so I'll be looking for signs for a breakout. This is less likely due to timeframe symmetry.

My main scenario is that we are currently doing the A corrective wave, and I'm tracking the subwaves in it. Due to the RSI I expect a bounce up pretty soon, which most logical would compose the corrective subwave 4 of A. Once I see it slow down and show signs of reversal (bearish divergence, candlestick profile, fib levels), I would enter a short position targeting subwave 5 based on Fibonacci extensions, depending on where subwave 3 ends up.

There is also the sub-scenario where subwave 3 is done and we are currently doing subwave 5. In this case I would like to see strong upper strength, since it would be the corrective B. If it smashes through subwave 1 resistance, I will consider this scenario as more likely.

For now, I want to see where the current drop ends up and take it from there.

Elliott Wave theory will be my main approach for higher timeframes and also, at times, for lower ones. I would really love an interpretation of my charts using other tools and indicators as well. Good luck and may you be ever-profitable!

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Welcome to Steemit @vladontheblock!

I wish you much success and hope you find Steemit to be as rewarding and informative as I have.

Yes, I love Crpto too! Lots of detailed analysis on my blog along with some predictions

Here are some links you might find useful.
Your stats on SteemNow
Your stats on SteemWorld
Your stats on SteemD
How to use Minnow Booster
How does Steemit actually work?

Introbot is hosted and managed with donations from @byColeman to help make your journey on Steemit be truly rewarding. Your feedback is always welcome so that we may improve this welcome message.
Oh yea, I have upvoted you and followed you. Many blessings from @introbot & @bycoleman

welcome here wish you have a good time

·

Thanks! I'm sure I will, seems to be pretty much what I want from an online community. Hope it grows more and more in the near future, to have awesome engagements on all topics :)

Hi

Thank you for #introducingyoursef.

I noticed that we both share similar passion towards cryptocurrencies and blockchain technology :)

Im myself quite new in steemit community but I realized that there are few things you could do to have a better start:
Mostly I invested a little bit in STEEM in order to purchase STEEM POWER and STEEM DOLLARS. Why? It's simply important. Without initial investment it will be very hard for you to build reach here and be noticed.

Im not sure if you ever heard about this site: http://steemd.com/@your_username
Example: https://steemd.com/@example
Perhaps you know it already :)

If you will reply to this message (that would allow me to believe that we may develop mutual engagement and help each other) then I will follow you and upvote some of your future posts.

Cheers and good luck, Piotr

I hope you dont mind another "short" message :)

I figured that you may not ever know what steem power and steem dollar is and how to use it on steemit for your own benefit.

Check out this article (not mine, but very well written):
https://steemit.com/steem/@kevinwong/why-should-you-consider-accumulating-steem-power

Also if this is not enough then another good explanation can be found here: https://99bitcoins.com/making-money-with-steemit-steem-dollars-and-steem-power-explained/

You can find loads of good material also you youtube.

Let me underline why in my opinion it is important to power up your "steem power". At the beginning you will start your adventure on steemit as so called "minnows". Which simply means that you are "nobody". That's how I see it.
Most of those who invested into steem power are helping (SP) also those who have some SP and they help and benefit each other by upvoting their own posts.
If you have no steem power then your upvote has absolutely no value which make things more difficult, as many bigger players only will not treat you seriously.
That's anyway my own impression here so far.

Cheers, Piotr

One more thing just crossed my mind a moment ago.
Im assuming that you're new here and i would like you to understand that steemit is quite full of spam. Luckily steemit community related to blockchain technology and cryptocurrencies seem to be quite mature.
You will realize that there is many people out there who are trying to help newcomers or simple promote themselfs by sharing their knowledge and experience. I strongly support what they do and I myself decided to spent few minutes a day looking for new members of this society that are having similar interests.
My goal is to help those new members who can really contribute into this community by sharing my experience and by upvoting and commenting future posts.

After all this is still quite new platform and it's up to us to shape our little community.

One more time, welcome on steemit and I wish you all the best!

Cheers,
Piotr