Help Learning TA for noobs

narangji

Well-Known Member
#1
Hi

I am learning TA from Traderji forums and Posts from Saint, Taiki,DSM and various others and trying to learn. I would be asking questions here to improve the process of learning. I would be grateful if you guys can share your inputs and expert advice. Please do keep checking regularly as I would be asking questions regularly here.


Can you please tell me if I placed the pivots correctly on Daily Chart? I have placed pivots from Mid Jan 15. I just soemone to confirm if the pivots are correct or there is rome for improvement.

Daily Chart



Hourly Chart - from 30th march till date




I think i WILL stop marking more pivots now, please point out mistakes or improvements.

Thanx in advance
 

narangji

Well-Known Member
#3
My second study for today is trend lines.

I have drawn trend lines, please point out mistakes or improvements

Daily Chart



Hourly Chart

Can anyone tell me how to draw a down trend line near to circle downfall, i cant see any pivots forming.



Please advice again if the trend lines are correct
 
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narangji

Well-Known Member
#4
Learning Trend Lines Question

Pull back rally/retraction seen on crude oil

Reason1: Blue candles are forming less then red candles as shown in chart, please dont confuse this as downtrend, it could be a simple retraction. I am posting this for learning purposes to find out if my logic is clear?

The arrows drawn between candles indicate only the number of red candles forming compared to blue candles. The 2 down trend lines coming

1 is short term (today)
2, Long term drawn from april 13 trend

Both the trends lines are broken and hence indicate (pull back/retraction)

I just want to clarify if my thinking is in right direction. Experts pls advice



Also from my learning please advice looking at chart that we should wait to see where the next pivot is formed next and then wait for trading decision

1
 
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narangji

Well-Known Member
#5
Its sad not to see any replies/Correction/Suggestion or improvements.

However I have moved on to next chapter and Learning Wedges. Facing issues while drawing a WEDGE, Also having a hard time deciding entry exit and SL in case of a breakout failure.

Here is a sample Wedge drawn - Falling WEDGE Pattern - WTI Crude OIL - Hourly Chart



Q1. Did I draw WEDGES corretcly?
Q2. Breakout 1 Clearly Failed, Did i place stop Loss Correctly?
Q3. Breakout 2 Was Success, please confirm if the SL 2 Was correct?

Also shall we trade a Wedge, as the lower pivots were getting formed before the breakout?

PS: SIN mentioned only buy if in UPTREND higher pivots are getting formed

If anyone clarify it will be great!
 

narangji

Well-Known Member
#6
I am finding it awfully hard if I were to draw Rising Wedge Pattern How would I draw that

Can someone please help, I want it to be drawn on 10th of April till date on Hourly Chart of crude OIL



Please plot the rising wedge since 10th
 
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narangji

Well-Known Member
#7
Hey Naragji,
Thanks to share screenshots. very helpful.
Please share if you have any guides or books to refer for beginners.
Waiting for your positive response.
Firdosshaikh

I am just like you trying to learn from traderji forums, you can find a section from SAINT Teach A MAN TO FISH, download that PDF and it will help you alot. I am a victim (in a good way). These charts may or may not be correct as I am reading PDF, and other forums documents and videos and then doing them practically on Amibroker.

I am waiting for some expert to guide us. If you cant find the PDF let me know I will post the link or add me on yahoo narang.ji
 

rajesh.singh

Well-Known Member
#8
Narangji,
First thing go slow, at one time you posting charts on pivots, second chart on TL & then Wedge. Get clarity on one thing first, then only move to second thing, else you have to go back again and again.
There are many ways to draw TL, easiest way to draw from Day High/low, Swing High/low... Practice this on as may chart you can, slowly you start getting the feel, in trading close is close enough, hardly you get perfect pattern.
This post might be of some help.
http://ninetrans.blogspot.in/2014/02/trend-and-chop.html
All the Best,
 

narangji

Well-Known Member
#9
Narangji,
First thing go slow, at one time you posting charts on pivots, second chart on TL & then Wedge. Get clarity on one thing first, then only move to second thing, else you have to go back again and again.
There are many ways to draw TL, easiest way to draw from Day High/low, Swing High/low... Practice this on as may chart you can, slowly you start getting the feel, in trading close is close enough, hardly you get perfect pattern.
This post might be of some help.
http://ninetrans.blogspot.in/2014/02/trend-and-chop.html
All the Best,
Rajesh ji well said, perhaps I should slow down. I really don't know. I read all day long the more I read the more I get myself in this (black hole). It never seems to end. I keep watching video's and articles over and over again.

Thank you so much for that link, It has some very good points which I normally don't see on you tube and forums. This guy knows his stuff.


I will read and ask questions, hope you can help again.
 

raul12

Active Member
#10
I am finding it awfully hard if I were to draw Rising Wedge Pattern How would I draw that

Can someone please help, I want it to be drawn on 10th of April till date on Hourly Chart of crude OIL



Please plot the rising wedge since 10th
The price action(PA) is not suitable for an ideal rising wedge pattern in this example chart of yours.

Also, don't FORCE any patterns on charts when there are none....it is NEVER the pattern rather the correct understanding and application of the PA which makes you the profit!
 
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