Technical analysis

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>>2364520
Readjust target. It's not exact.

>>2364520
dont.

>>2364531
But you're not supposed to use the wicks I thought. That's where the market rejected the price. Also I made the lines before that last candle went up.

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>>2364520
That is only a test of the tend.

I would buy on confirmation of the up trend with a break here.

pic related.

>>2364574
Cool, thanks for the tip

Haha, looks like it's breaking out after all!

>>2365208
>actually useful thread with information that could make one very wealthy through knowledge of how to analyze the market

>no replies

You're gonna make it, anon.

>>2365208
So which book did you read for this knowledge? Looking to pick up at a TA book

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You should use the extremes of the wicks. If you bought or sold in a wick and you are wrong, you won't care where the body of the candle is.

Diagonal lines are not very reliable. You will often have to redraw them. They do let you know when a downtrend or uptrend is ending.

Look at extremes, the blue horizontal lines in the picture. If the price starts going below the lower blue line, everyone who bought in the past 6 hours will be losing money and will start to sell. On the other hand if it starts breaking above the upper blue and to a lesser extent the green line, there's not going to be a lot of sellers since everyone is starting to make money.

Murphy's Technical Analysis of the Futures or Financial Markets is a great book.
You can get the futures one for about $6. If you read the introduction of the financial markets book on amazon, it will tell you the differences between the 2 books.