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GME Technical Analysis - Reading the Price Action
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=================================================
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| Author | Source |
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||||
| :----: | :----: |
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| [u/squidja](https://www.reddit.com/user/squidja/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/mvvk47/gme_technical_analysis_reading_the_price_action/) |
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|
||||
---
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[DD 👨🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
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I am new to trading, just getting started on January 27th during the first event, so definitely don't take any of this as financial advice.
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Although I love watching/reading GME news it's mostly for entertainment purposes and isn't a factor in why I HODL. I HODL because I agree with the DD.
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In swing trading I look for reversal patterns and trend lines using technical indicators to give me a complete picture of the price movement.
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GME is a heavily manipulated stock but I believe there are still insights we can gather from analyzing the chart.
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There are essentially three types of trading:
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Day Trading / Intraday Scalping - Short term trading where trades are placed during the same day often times buying and selling within minutes or seconds.
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Swing Trading - Medium term trading where trades take place over several days or weeks. (This is the system I use)
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Investing - Long term that spans years.
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I look at 1 Year, 1 Day charts every day and use technical indicators to *attempt* to predict the price. No system is 100% perfect because no one can predict the future. (btw, by this point you're probably thinking, "Is this guy day trading GME?" Absolutely not, that would create more liquidity.)
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The first indicator I use are Candle Sticks. They basically give me a quick summary of the days price action.
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Candle Sticks take the day's price action,
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[](https://preview.redd.it/gmn0e5kjsmu61.png?width=2256&format=png&auto=webp&s=c31341bf0e7e236250b644887903b69fb1f918ea)
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GME Wednesday, April 21st.
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and condense it down to this to summarize the days movement (I'm a Creative Director so I have really good crayons.)
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[](https://preview.redd.it/xcv9epmy1nu61.jpg?width=8001&format=pjpg&auto=webp&s=f9e239984e2d4aed51a1ca9c70622669aaf59fe4)
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If the price went down for the day it's a red candle stick, if it went up it's a green candle.
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When I zoom out and add my indicators (I'll cover those shortly) I can see the trend line over the last few months.
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Moving Averages I use:
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18-Day: Exponential Moving Average (more weight towards most recent candles)
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40-Day: Exponential Moving Average
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50-Day: Simple Moving Average
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100-Day: Simple Moving Average
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150-Day: Simple Moving Average
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200-Day: Simple Moving Average
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[](https://preview.redd.it/2s6vhg50tmu61.jpg?width=8001&format=pjpg&auto=webp&s=0604e9838561e30891b13bb8e0f39c9d9d500b25)
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GME has been on a clear uptrend with strong support levels that have recently been tested and proven strong.
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[](https://preview.redd.it/ufta29u06nu61.jpg?width=8000&format=pjpg&auto=webp&s=68022a3ae76c970624a983f182fd707f1149d15b)
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So we know GME is on a clear uptrend and has strong support levels. This should continue as long as ape hold banana.
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GME is currently low volume, sideways trading:
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We're currently stuck in low volume low price movement, boring days. But look what happens at the end of those boring periods. The price goes *BRRRRRRRRRRRRRRR!*
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[](https://preview.redd.it/z6ubg4viumu61.jpg?width=8000&format=pjpg&auto=webp&s=a6a3300503665b97494ef2d7a1e374f3c1522104)
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Each time it looks like there's more force behind it.
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Moving Average Convergence Divergence (MACD)
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This is an indicator I use to show me when a price trend *should* reverse. The bullish or bearish trend will reverse and the price will move in a new direction.
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[](https://preview.redd.it/schhxzk0xmu61.jpg?width=8000&format=pjpg&auto=webp&s=ab3ec05fc9a90592680b776e2ba38ef17c0c8588)
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Here's a closer look at the MACD Line (Black) converging the Signal line (Red)
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[](https://preview.redd.it/fzbkwzqzxmu61.jpg?width=8001&format=pjpg&auto=webp&s=5d7d4c3f5b7f7c7a5c205421703ae75356dfa87f)
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GME appears to be approaching a divergence point!
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Parabolic Stop and Reverse (ParabolicSAR)
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This indicator puts a dot above or below the candles and will flip to a new side in a reversal. We just flipped to bullish 3 days ago!
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[](https://preview.redd.it/y92eymdhymu61.jpg?width=8001&format=pjpg&auto=webp&s=5dcca3129632f68cde44f41e0140bae8c1de8cc0)
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All of my indicators are telling me it's time for the price to reverse and go up. Here's the coolest part in my opinion, when I actually zoom all the way out to a year the force behind the price movement appears to be incredibly strong.
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[](https://preview.redd.it/pkjunk790nu61.png?width=3104&format=png&auto=webp&s=c22b7eed87f1bed3c234134a6a3ed50924261c51)
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I actually believe the price can go to $10,000,000 as long as enough retail HODL!
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58
Technical-Analysis/How-to-Read-a-Bloomberg-Terminal.md
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58
Technical-Analysis/How-to-Read-a-Bloomberg-Terminal.md
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How to read the Bloomberg Terminal - by smooth brained Ape to smooth brained Ape!
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||||
=================================================================================
|
||||
|
||||
| Author | Source |
|
||||
| :-------------: |:-------------:|
|
||||
| [u/ShortaSqueezzzGoBRRR](https://www.reddit.com/user/ShortaSqueezzzGoBRRR/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ml9faf/how_to_read_the_bloomberg_terminal_by_smooth/) |
|
||||
|
||||
---
|
||||
|
||||
[Serious DD 👨🔬🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Serious%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%F0%9F%94%AC%22&restrict_sr=1)
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Hello my little Apes.
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This is DD since I dont know which other flair it should be.
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*Big Thanks at* [u/seaguard5](https://www.reddit.com/u/seaguard5/) *for sharing the screenshots!*
|
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|
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You want to read the Bloomberg Terminal. Here are the basics.
|
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|
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[](https://preview.redd.it/sflhowm8djr61.png?width=1341&format=png&auto=webp&s=813ac96741bc4aa5d9d15e0e7fbc11d986efbf4d)
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Note -> "VOLM" is the volume of these Calls / Puts
|
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[](https://preview.redd.it/xjh69ddcdjr61.png?width=1342&format=png&auto=webp&s=642a6d76a24ba8c2e3db8ed833e1e47a4f1f50e9)
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|
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Basically Site 1 but with higher Strike Prices
|
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|
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[](https://preview.redd.it/cnvbdmv1ejr61.png?width=1337&format=png&auto=webp&s=e4d23a4386add75ab4dd4ce21268ce8a7e0d90d8)
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|
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Ape sees graph ape makes oooohhh ugghaaa uggaaah
|
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|
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[](https://preview.redd.it/oy5pvwseejr61.png?width=1337&format=png&auto=webp&s=a4de8bdcd510c25f3ca4ecc8242649ca51955367)
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Useless information because its not true anyway (personal ape opinion here)
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|
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[](https://preview.redd.it/6unfgwwxejr61.png?width=1339&format=png&auto=webp&s=9fbdf861f391a6192acfbeae626ca08e5c83bbf0)
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Maybe interesting maybe not, its old data currently so not.
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|
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[](https://preview.redd.it/mtl90bb0fjr61.png?width=1339&format=png&auto=webp&s=4d29e3f58c2ecd1c6aa3fd5af6ee84e9f9bd2528)
|
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|
||||
same as one above
|
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|
||||
[](https://preview.redd.it/wi2215e3fjr61.png?width=1338&format=png&auto=webp&s=e5e04a27947d04bc05de55179746da83f88346ad)
|
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|
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more information about who holds the shares
|
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|
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[](https://preview.redd.it/60j5nueffjr61.png?width=1338&format=png&auto=webp&s=137141720ff5b5e150caefd3cbdca507671d4e50)
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I dont know but for me, this data is interesting but useless overall
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[](https://preview.redd.it/6f99yosqfjr61.png?width=1344&format=png&auto=webp&s=53d528d8ff4f75ea9c0fb3293bc1325934978639)
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|
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Outdated data but interesting when new gets published
|
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|
||||
Thats it.
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|
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I hope i helped some of you!
|
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50
Technical-Analysis/TTM-Squeeze-Explained-for-Dummies.md
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50
Technical-Analysis/TTM-Squeeze-Explained-for-Dummies.md
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GME is Mooning, the TTM Squeeze Explained for Dummies 🚀 (REPOST)
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||||
=================================================================
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||||
|
||||
| Author | Source |
|
||||
| :-------------: |:-------------:|
|
||||
| [u/possibly6](https://www.reddit.com/user/possibly6/) | [Reddit](https://www.reddit.com/r/GME/comments/m0vlw2/gme_is_mooning_the_ttm_squeeze_explained_for/) |
|
||||
|
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[DD](https://www.reddit.com/r/GME/search?q=flair_name%3A%22DD%22&restrict_sr=1)
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|
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Reposting this so people can reference my description of the TTM squeeze, this DD checked out, it was just a day too early. Originally Posted 3/4. Check out my NEW POST <https://www.reddit.com/r/GME/comments/m0uq9i/gme_price_predictions_38_youre_gonna_like_this/>
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|
||||
Not financial advice, I eat crayons and then spit them in my blender to make crayon smoothies.
|
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|
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Hopefully you guys say this post <https://www.reddit.com/r/GME/comments/lx4gbv/yall_this_is_statistically_significant_action/?utm_source=share&utm_medium=ios_app&utm_name=iossmf> If you haven't yet give it a read ASAP!
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|
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Talking about statistical significance, I found something interesting *technically* speaking. This will be brief but it's pretty exciting shit.
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|
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Assuming you don't know indicators, I will be talking about the TTM squeeze. Basically, red dots indicate a squeeze forming, and when the dots go green is when the squeeze fires off. It is one of my favorite indicators to use for trading as it helps to predict the BIG moves in the market.
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||||
(If you want a deeper explanation of the indicator, read the following bit. If you understand that red is consolidation and green is the squeeze firing off, you're chillin.)
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|
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The TTM Squeeze captures the moments where a market is in a period of consolidation right before a big move and predicts the subsequent direction of that move.
|
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|
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Those red and green dots that run along the middle of the TTM are linked to two underlying indicators you may already be aware of: Bollinger bands and Keltner channels.
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|
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When the Bollinger bands are so tight that they are inside the Keltner channels, that means the market is in a period of extreme consolidation and statistically primed for a large move (the squeeze). These periods are symbolized by the red dots on the indicator.
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So now that you have a very brief idea of what the TTM squeeze is, allow me to blow your mind.
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|
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Below is the $GME chart from mid-late january right before the big run. This is the 4 hr timeframe, notice how the TTM squeeze (the blue bars with red and green dots) was red for 3 days before going green, firing off the beginning of the major run. During that period of consolidation I added 80 shares and boy oh boy am I happy for doing that (don't worry, Idk what a sell button is).
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|
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<https://imgur.com/MFVj8od>
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|
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Now look at this. This is GME the past few days.
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<https://imgur.com/QOjgnE3>
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|
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Look at the TTM squeeze (far right, just beneath the chart, red dots). Today marked day 2 of consolidation on the 4 hour time frame (red dots = consolidation). Given that the price movement is statistically significant (based off DD linked above), tmr marks day 3. We all know what happened last month on day 3 of squeezing on the 4hr...
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This could just be a coincidence, but I am a technical trader. This is about a good a setup you can get. Tomorrow gonna be interesting ;)
|
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|
||||
If you have any questions I'll try my best to answer in the comments, it's been a pleasure holding with you apes!
|
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|
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Obligatory 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
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|
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TLDR: if price action really does mimic that of what we saw during the last major run, tomorrow should be the start of an even BIGGER run!
|
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Edit: to clarify, I'm NOT saying GME will hit 100k tomorrow. I'm anticipating the run to 100k to START tomorrow.
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Edit 2: thanks for the awards but BUY GME instead 😀
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130
Technical-Analysis/Technical-Analysis-101-for-Beginners.md
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130
Technical-Analysis/Technical-Analysis-101-for-Beginners.md
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You're buying based on gut feeling, selling on gut feeling. Why do you hate money? Technicals 101 for beginners.
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================================================================================================================
|
||||
|
||||
| Author | Source |
|
||||
| :-------------: |:-------------:|
|
||||
| [u/DaySwingTrade](https://www.reddit.com/user/DaySwingTrade/) | [Reddit](https://www.reddit.com/r/wallstreetbets/comments/mabmyk/youre_buying_based_on_gut_feeling_selling_on_gut/) |
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||||
|
||||
---
|
||||
|
||||
[Technical Analysis](https://www.reddit.com/r/wallstreetbets/search?q=flair_name%3A%22Technical%20Analysis%22&restrict_sr=1)
|
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|
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Not a trading advise.
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|
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Hey there folks and congratulations if you haven't blown up your account last week. Thanks to TA, mine barely survived. It is messy out there, making it very difficult to trade. Honestly, if you're down, that's understandable because these are not normal conditions. We just had a 12 month flash course on market behavior. What we've witnessed in this short time happens in the span of 3+ years, not months.
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|
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Bright side is, we learned a lot. Through pain and punishment. Turns out those lessons are the most kept. It's like we are little puppies.
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|
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So, what do we do?
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|
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We do what seasoned traders have been doing for decades. We understand the basics of charts and practice technical analysis. It's gonna be a long Sunday read but I promise, it'll be an eye-opening one for most of you. Don't worry. Basics are super simple and I won't confuse you with pattern terminology.
|
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|
||||
If you're not using these methods already, this post is going to improve the way you trade exponentially while minimizing losses if your trade begins going south. You'll be able to apply these methods on short and long term positions.
|
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|
||||
I received a PM from a fellow Redditor yesterday, saying his puts lost half the value. I'm sure those losses would not have been this big if TA was involved. We will get it back my dude. Read on.
|
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|
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Resistance and support. Two simple, magical words we're going to cover today.
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|
||||
You're gonna love the story behind this trade. Perfect example of how powerful technical analysis can be. Below is a $7K buy-in, 0tde SPY 390 call I traded on Friday. One hundred percent based on a known pattern.
|
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|
||||
I'd like for you to pay attention to time of entrance (at support) and exit (at resistance) then match those with order execution times which you will find on top.
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||||
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||||
[](https://preview.redd.it/d2nrriswrgo61.jpg?width=1920&format=pjpg&auto=webp&s=78703c09cfc24458b1d63ddde0c022038dd1f72f)
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||||
Back story. Folks, I can't make this shit up if I want to. I'm two inches away from my screen, glued. Watching green candles pile up over support, printing...On the way to 390 resistance. I know if it breaks, we're going 391 easy..Last I saw was 389...Goddam power flickered, caused a reset on my modem. Panic sunk in.
|
||||
|
||||
About 45 seconds later, connection came back. I remember I kept saying please be above 390...please be above 390....I knew as a fact, when it hits that major resistance at 390, there's a fat chance of rejection, sending my greens to red in matter of fifteen seconds.
|
||||
|
||||
I saw 390.12 on screen. Smashed sell. Could've been a good trade gone wrong. My original plan was to sell half at resistance and sell the other half after a possible break out. Slightly above 391, those contracts were going for $1.50 per.
|
||||
|
||||
[](https://preview.redd.it/d0f493b8sgo61.jpg?width=519&format=pjpg&auto=webp&s=61db8ae9c9f115ae33f5aacfbfd8f24e7cc3ddda)
|
||||
|
||||
Let's step away from day trading, apply support and resistance basics on longer term charts. After all, you need to be mentally unstable in some way to even consider day trading.
|
||||
|
||||
We're gonna take General Electric as example. Starting with it's 6 month chart, then zoom into weekly.
|
||||
|
||||
On October 10th 2018, GE closed at what seems to be a random, insignificant price. $13.28.
|
||||
|
||||
On February 12th 2020, it hit $13.26. Failing to close above $13.30 once again. Think about it. After millions of trading volume and after 16 months, it touched the same number and traded down the following days. Crazy accuracy, couple cents.
|
||||
|
||||
[](https://preview.redd.it/3tumqvxssgo61.jpg?width=1532&format=pjpg&auto=webp&s=06512087a5ea457dabb354960c24c5d548f495e2)
|
||||
|
||||
Clearly, what seemed to be chaotic, random price action is not chaotic and random. It follows rules and order of it's own. Just like everything else around us.
|
||||
|
||||
Stay with me.
|
||||
|
||||
Drawing bearish and bullish channels
|
||||
|
||||
Here's the GE weekly chart. Each candle represents one hour.
|
||||
|
||||
[](https://preview.redd.it/pwxrsx91ugo61.jpg?width=1532&format=pjpg&auto=webp&s=d0b6361605df5fe66cfdac3d6c6cbe2c15b1a44b)
|
||||
|
||||
Super simplified. You take the bottom of the lowest candle (A) and draw a line until it touches the bottom part of another candle that's trending up (B).
|
||||
|
||||
Now, we repeat that on top portion. This time, starting a line at the top of candle (C) and ending at another candle that is trending up (D). Bullish channel is complete.
|
||||
|
||||
Using same principals, you can also draw a bearish channel. In that case, instead of pointing up, channel will be pointing down.
|
||||
|
||||
Next, we're going to add to our chart what's proven to be the resistance at $13.2x. Purple horizontal line.
|
||||
|
||||
Guess what price GE closed on Friday. 🤯
|
||||
|
||||
[](https://preview.redd.it/ssi2kllbvgo61.jpg?width=1529&format=pjpg&auto=webp&s=6e6ac7bbb85f40bd35a4232c794b39f8f4d54cfc)
|
||||
|
||||
So, buying short expiry puts Monday on GE is free money? It failed to break resistance again and again.
|
||||
|
||||
No. Analyze the chart below. Area I highlighted shows it actually did break the resistance intraday and held all the way to closing bell. There's a big possibility that resistance is now a potential support. What we're seeing on the highlighted portion could be the back test of said support, closing at $13.2x and not below it.
|
||||
|
||||
[](https://preview.redd.it/kma6obvoxgo61.jpg?width=1529&format=pjpg&auto=webp&s=6a7be213dc070bc178a35316600bfa84a8f77ea4)
|
||||
|
||||
As a case study, what do we look for Monday eod?
|
||||
|
||||
We look for confirmation. If we see a strong green candle close above $13.50, in my book that's a long buy (calls). Likely 13.2x resistance becoming support.
|
||||
|
||||
If we see a strong red candle finish below 13, breaking down our bullish channel, that signals resistance held once again and it will most likely continue to go down, once again. Puts galore.
|
||||
|
||||
Here's the part that matters for you the most.
|
||||
|
||||
Do not buy calls near major resistance. Period. Buy the confirmed support. Sell the confirmed resistance.
|
||||
|
||||
We see paper handing comments all the time. "If I were to hold two more days, I could've doubled my money".
|
||||
|
||||
Why would you sell when you see green candles making higher highs inside a bullish channel? Sell when it's close to resistance.
|
||||
|
||||
What about red candles inside the channel?
|
||||
|
||||
It's okay. Take a look back at the 0tde SPY 390c chart. If I were to see red candles getting close to support, I would've sold and worst case scenario lose 10-15%.
|
||||
|
||||
Buy at support, sell at resistance. Buy at support, sell at resistance and don't look back.
|
||||
|
||||
Apply these principals to your weeks, months out expiry contracts. Pull charts that each candle represents 4 hours minimum, one day candles ideally. TA is much easier and accurate when it's based on longer time frames. I'm telling ya, damn thing closed at 13.2x two years ago!
|
||||
|
||||
Minimizing losses when trade goes south.
|
||||
|
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This is the hardest part to execute. Denial, hope, what ifs... I lost $24K two weeks ago by not practicing what I'm about to preach.
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I added red candles on our GE Chart to simulate a support break. Each candle represents four hours. Take a look.
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[](https://preview.redd.it/hzjczrif3ho61.jpg?width=1529&format=pjpg&auto=webp&s=8d1495016c42c920d0cf0754011f7d8a142cb5e6)
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At this point, it's pretty much gg. Even though we see a green candle at the end, due to time decay, calls are destroyed. Basically, it needs 3 perfect green candles just to get back inside and 3 more candles to start trending up in the channel. 4 hour candles, by the time that happens, 30-50% poofed. In this scenario, I bet bears would buy puts at first sight of support break which I wouldn't blame and definitely participate.
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I'd like to point this out again. Some charts I showed you guys as examples are short time-framed. You're better off applying these basics on charts that each candle represents one day, assuming your position is not expiring in 48 hours. Remember this as beginners, longer expiration, more data, better TA. More gains, less losses.
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I'm anxious to see how next week is going to play out. We're stuck, yo-yoing between support and resistance on pretty much all indexes and big caps. It's simply not possible for me as an apprentice trader to speculate.
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What I know is this. I'm not touching TSLA. I'm not touching AAPL or SPY or QQQ or any ticker that has been chopping up and down between support and resistance. Bunch of noise. Time decay. Not good for option contracts.
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I want to see resistance break and hold for calls.
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I want to see support fail for puts.
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Don't know about you but I like my money. Not going to close my eyes, open a position and hope for the best. Buying based on gut feeling, selling on gut feeling. That's gambling not trading.
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I get the biggest kick when I see my people after Friday close saying, "Shit...What am I gonna do now for 48 hours?"
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Well sir...You pull out crayons, draw some lines, look for opportunities. Add more layers to charts. Moving averages, bullish cross overs, RSI...It's a treasure hunt.
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This is the way.
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||||
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Cheers.
|
||||
Reference in New Issue
Block a user