today,i learned something that completely changed the way i look at charts..
๐๐ต๐ฒ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฎ๐ฐ๐๐๐ฎ๐น๐น๐ ๐บ๐ผ๐๐ฒ๐ ๐ถ๐ป ๐๐๐ฟ๐๐ฐ๐๐๐ฟ๐ฒ..
waitttt..lemme say something ๐น
before now, i used to look at candles and think price was just randomly going up or down..
buh thereโs actually a pattern behind those moves..
๐ถ๐ป ๐ฎ๐ป ๐๐ฝ๐๐ฟ๐ฒ๐ป๐ฑ, ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ฒ๐ป๐ฑ๐ ๐๐ผ ๐บ๐ฎ๐ธ๐ฒ:
โช๏ธ higher highs
โช๏ธ higher lows
it means price pushes higher, pulls back small, then keeps moving upward without breaking the previous low..
that usually means buyers are still in control..
๐๐ต๐ฒ๐ป ๐ถ๐ป ๐ฎ ๐ฑ๐ผ๐๐ป๐๐ฟ๐ฒ๐ป๐ฑ, ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐๐๐ฎ๐ฟ๐๐ ๐บ๐ฎ๐ธ๐ถ๐ป๐ด:
โช๏ธ lower highs
โช๏ธ lower lows
every bounce gets weaker and sellers start taking over,slowly
once you start noticing this stuff, the chart stops looking like noise..
you begin to understand:
โช๏ธ trend direction
โช๏ธ momentum
โช๏ธ when the market is weakening
โช๏ธ and why some breakouts fail..
still learning this stuff though..and keeping it on here