Understanding Charts easy way for Beginners

Is this information regarding Charts userful

  • Yes, Easy and Useful.

    Votes: 3 100.0%
  • No, Easy but not Useful.

    Votes: 0 0.0%
  • I dont care about Tech Analysis and Charts.

    Votes: 0 0.0%

  • Total voters
    3

travi

Well-Known Member
#21
S&R, whether lines or zones, although I've moved from line to zone is a partial factor to the bigger picture.

What we have learnt is that when either all or most of the indicators align, you pull the trigger.
Therefore, with S&R, you look at the number tests/retests and rejections that occur in the brief consolidation phase and then whether the fundamentals of the stock or sector or market are in line and base the BO or BD.

Play chartgame :D where you'll only have pivots and S/R, then you'll realize its not that easy. I have a win ratio of 61% and 1.5x Reward on a trade :)
 

lemondew

Well-Known Member
#22
Many say for chartists its only about charts
How about news and events.
We have Feb1 budget. Now in few days interest rate decision and so on. Effects of demo and so on.

Charts plus do these factors also you consider assuming you do swing trading and we are looking in daily charts....

S&R, whether lines or zones, although I've moved from line to zone is a partial factor to the bigger picture.

What we have learnt is that when either all or most of the indicators align, you pull the trigger.
Therefore, with S&R, you look at the number tests/retests and rejections that occur in the brief consolidation phase and then whether the fundamentals of the stock or sector or market are in line and base the BO or BD.

Play chartgame :D where you'll only have pivots and S/R, then you'll realize its not that easy. I have a win ratio of 61% and 1.5x Reward on a trade :)
 

travi

Well-Known Member
#23
Many say for chartists its only about charts
How about news and events.
We have Feb1 budget. Now in few days interest rate decision and so on. Effects of demo and so on.

Charts plus do these factors also you consider assuming you do swing trading and we are looking in daily charts....
Correct, that's what I meant.
In the trading world, only charts isn't enough.
It has to be combined with market conditions.
For some events, which are already known, you'll be able to see the market trying to prepare for it. The others, there will just be huge gaps or BO/BD suddenly.
 

lemondew

Well-Known Member
#24
SHK,
Nice initiative. Basic S/r rules and patterns forms the fundamentals. Please go on. Folks have just put the bigger picture at the start.

travi,
Yes sounds good to take a probability bet with
Market conditions, global scenarios/ events, Charts - Higher timeframe, Pivots - lower timeframes, behaviour around Known - Support/ resistance.
Also good to know you have 1:1.5 risk reward. So again risk/reward is important for bottomline to take into account Taxes/brokerage

Looks like you mean you been striking at 61% in past few....months/years. But in next few years u might actually do better as well. Not sure if that can be extrapolated to bring same results. Sounds difficult to quantify judgement in profit percentage numbers

Correct, that's what I meant.
In the trading world, only charts isn't enough.
It has to be combined with market conditions.
For some events, which are already known, you'll be able to see the market trying to prepare for it. The others, there will just be huge gaps or BO/BD suddenly.
 
Last edited:

Similar threads