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/biz/ - Business & Finance

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11170983 No.11170983 [Reply] [Original]

H&S or just correction? Is it time to buy or wait?

>> No.11171317

>>11170983
The 10 period SMA on the Monthly time frame is being treated as Resistance. I would not be looking for Long entries until Price is above it.

>> No.11171369

>>11171317
This means that you could take a Short entry, on a Lower time frame (like the Weekly or Daily), with your Stop/Re-assessment area somewhere above the 10SMA on the Monthly time frame.

Alternatively, you could wait for the Breakout to the downside that could take place, as you've identified with that pattern, and take your Short then.

>> No.11171380

>doing TA on a $50 volume shitcoin

why are you so fucking retarded biz?

>> No.11171390

>>11170983

please crash, thewhole stock market should crash >50% I have a few 10k on the sidlines that want to hot the market, but dont want to buy the top

>> No.11171611
File: 77 KB, 648x595, 1533458613965.jpg [View same] [iqdb] [saucenao] [google]
11171611

>>11171380
Imagine being this retarded. Not everything on this board is about your memecoins anon

>> No.11171619

>>11171611
>he fell for obvious bait
anon...

>> No.11171945

>>11171369
op here.
thanks for your contribution!

>> No.11172386
File: 47 KB, 1274x623, DE30(0)_Monthly_10SMA_Resistance.png [View same] [iqdb] [saucenao] [google]
11172386

>>11171945
I'll give you my version of a "Battle Plan". This is what I use Technicals for, it helps me to put things into Context and to be organised.

As I mentioned, the Monthly 10SMA is acting as Dynamic Resistance. And so, I would only be looking for Short entries on Lower time frames, assuming conditions remain the same.

>> No.11172407
File: 43 KB, 1274x623, DE30(1)_Monthly_Structure.png [View same] [iqdb] [saucenao] [google]
11172407

>>11172386
I then draw in Trend lines and Support/Resistance that jumps out at me on the Monthly time frame. Other people will be looking at this, and so, as a Trader, it is important that I incorporate that into my plan.

>> No.11172417
File: 54 KB, 1274x623, DE30(2)_Weekly_Structure.png [View same] [iqdb] [saucenao] [google]
11172417

>>11172407
I then go down to the Weekly, and add extra lines to the new Structure that now exposes itself.

>> No.11172430
File: 73 KB, 1274x623, DE30(3)_Daily_Marking_Out_Potential_Entries.png [View same] [iqdb] [saucenao] [google]
11172430

>>11172417
If I were to make entries, I could use the Daily as the "Trigger time frame". I've marked out some potential Short entries I might take, depending on how Price responds to that Structure.

>> No.11172453
File: 65 KB, 1274x623, DE30(4)_Daily_200SMA.png [View same] [iqdb] [saucenao] [google]
11172453

>>11172430
I also always keep an eye on the 200SMA, on all time frames I use.

Were I to consider a Short entry, Price should preferably be below the 200SMA on the Daily time frame (assuming this is my entry time frame).

>> No.11172544

>>11172430
wow thank you fren, I have not expected something this helpful! I worked out some techniques for drawing trend lines by myself, but these where somehow random. Your approach seems pretty good!