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RE: Introducing our first Crypto Market Scanner
https://www.coinigy.com/s/i/597992080d4ed/
Hi, can you take a quick look at the above graph? Have I judged the bases correctly, and bought at a good price/time?
Where is your base? I see a pennant type formation drawn on your chart (typical TA) which really has nothing to do with anything Luc has spoken about in his videos.
You mention buying at a good price/time, where are your buys?
My buy is @ the green arrow.
Not sure how you got the buy there?!? Your lines are way off. Not one video has lines like that. Please watch all his videos https://www.youtube.com/channel/UCbcxHiowf0TSNKn3xVpGTiQ You will find almost all of you answers there. Im sure i can speak for most of us here. We have watched them all a few times over. Not trying to be rude but the answers lie in the videos.
Ah ok. I don't know how I didn't see that arrow before?
But yeah, like everyone else said, you should seriously rewatch all the videos he has posted on his channel RIGHT NOW!!!
He doesn't have a lot of vids up yet, so now is a good time to go over those vids again. I think you are missing some very basic things about bases as he's spoken about in his vids.
as Luck said this MANY times, over and over again "check at least 1-2months data for your chart".
You need to zoom out to see at least 1 month and read that chart again. See all bounces and drops and based on this pick your bases.
Thank you, will do this from now onward
"(2) Keep your bases current. No need to go a month or two back to look for areas of support." This is taken directly from https://steemit.com/trading/@quickfingersluc/what-does-support-and-resistance-really-tell-you
The reason why you want to look at 1 -2 months of data is to only see if the bases/panics were properly respected and how many times they were. Is it 100% of the time or only 75%? This gives you an idea of the probability of future trades like this. You don't look way back in time for support levels because they aren't always reliably respected currently on the chart, only recent bases, that's what luc was getting at in the link you quoted.
I doubt you have seen any videos of Luc. This is the reason many good people like Luc give up eventually, because they get sick and tired answering questions. You should see this video 100 times before you ask another question to Luc https://steemit.com/trading/@quickfingersluc/what-does-support-and-resistance-really-tell-you
I believe that Luc has said in one of his vids that hes fine with taking questions like these with graphs, cos its easily for him to analyse and give a yes/no answer.