/biz/ - Business & Finance

>inverted head and shoulders

>>49448638
People shit on LUNA but the market actually made it far better to pump. It used to be moving in a crabbish stance and thanks to the unusual breakings everybody that knew how to read charts made 10k min by sheer virtue of scalping

>>49448638
isn't that a dead cat's bounce?

okay i like what i see, there's a clear accumulation break phase in the hourly and the daily chart (posting after this) shows the same movement
the bear market literally did wonders for this coin

>>49448730

>>49448680
you think you're cute anon?

>>49448730
>>49448738
so what? accumulation phase could be for the next month or for the next year, you literally get nothing new out of reading those charts

>>49448698
Righto, remember that we were all starving and this dump came to separate the weak from the strong

>>49448754
>post written from under a bridge

>>49448746
Yeah, it will most likely pump in the next bullrun

Still a very bullish pattern:

Neckline around $0.12 - 0.15
Shoulders around $0.06 - 0.18
Head around $0.009 - 0.08 resulting from a 1-month accumulation phase
Volume is decreasing on pullback to shoulder line, which is great according to Kucoin
A breakout from the neckline would definitely confirm a change in trend and a price target around $0.20 - 030 is believable (according to TA purists)

Furthermore, the price is now standing at 20 and 50 days exponential moving averages, with the 20d possibly crossing the 50d in case of rebound, which would add bullish sentiment.

The 100d one might continue to act as a resistance as long as its slope remains slightly negative.

20, 50 & 100 days exponential moving averages

I see green

>>49448798

>>49448798
Eh looks more like an inverted Helio double under reverse sketchpad pattern, I'd probably hold off on any mloves until I see something closer to a diluted milk spoon pattern.

>>49448822
So wait for a double chocolate donut and cream pie combo to exit

>>49448798
okay but what the fuck does this mean

>>49448798
Definitely the longer term play here. Love the chart, brought my cost basis down 15% in 3 weeks just off longs, but that's my fault

>>49448798
I swear TA people just make up names for charts, and now's there's so many for every imaginable chart, that basically any stock with any chart can be identified as one of these chart names and is about to break out.
Better yet, when it is right, good guess, but when it is wrong, there is not negativity associated with it because 'TA isn't a precise science we can't get it right every time', and then everyone claps.

Tread carefully anon

>>49448866
i've made more money out of following TA purist market analysis than following any sort of strategy on my own so

>>49448798
big shot aproves

>>49448866
you're wrong tho, it is very precise, just not absolute
i don't think you understand what an inverse head an shoulders is, so allow me to educate
This pattern is identified when the price action of a security meets the following characteristics:

The price falls to a trough and then rises

The price falls below the former trough and then rises again

Finally, the price falls again but not as far as the second trough.

Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.

However, the chart is less important than what is the underlying mechanism that drives this type of pattern. It's how "smart money" controls the price over periods of time. The longer the period of the inverse head and shoulders pattern occurs, the more accurate it is. If you want to understand it in more deph (im not pulling out my economics degree on a post) then research the Wyckoff distribution and wyckoff's teaching about the composite man. Its not a foolproof analysis, but you get it right 80% of the time , compared to the usual 50/50

>>49448817
>>49448845
That you both should read before investing
>>49448866
>he fell for the TA fudd
that's like a tennis amateur telling a tennis pro that tennis matches analysis aren't reliable because "they can fail"
>>49448920
THIS, OH GOD THANK YOU

>>49448798
>>49448920
Can i get a tl;dr for dumbasses like me?

>>49448940
Sure, i would advice you to stop investing if you can't understand something as simple as the previous post.
Tl;Dr
>These type of charts which happen over a reasonable amount of time (at least a few months) are due to how the "smart money" plays the game.
>You want to know which phase the "smart money" are currently at so you know when to enter position. The "smart money" doesn't care about individual investors frontrunning them and making outsized profits. The big picture is what matters.
>However, note that nothing is guaranteed in the stock market. Macroeconomic factors can always disrupt all these cycles.

Wownero is entering a similar accumulation phase

>>49448972
source?

>>49448965
based, thanks anon

>>49448974

>>49448979
TOPKEK

>>49448979
I love that guy, literally, every one of his parodies makes me play those games.

except for control, I didn't enjoy it at all

>>49448931
I can't, smol thinking machine