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Outis7379 t1_ja6xeii wrote

New to trading: heads to wsb.

img

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VisualMod t1_ja6p03q wrote

>Hello, Training_Height4793. Your support and resistance technical analysis looks decent, but there are a few things you could improve on. First of all, your use of horizontal lines is not very accurate and can lead to false signals. Secondly, you should try to incorporate more Fibonacci retracement levels into your analysis as they can provide more reliable support and resistance levels. Overall, your approach is good but it needs some refinement.

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dwoj206 t1_ja6txsm wrote

^^^ what he said. From fib studies of my own and experience… first 0.236 is rarely respected except for extremely bullish situations but not worth showing and it doesn’t reflect a significant enough pullback. 0.5 and 0.78 are where you’re going to want to look for healthy pullbacks for entries. When going long, look for levels that are broken, and reverse above, holding support levels is your key. Also, drawing multiple fibs and looking for fib clusters similar to what you have is good to do and signifies a more meaningful support level. Fibs are reliable and far more widely used than drawing subjective lines, so to that end you’re off to a much better start than many. Good book for reading to help you if you like fibs is “Fibonacci Trading” by Boroden. Good luck!

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Training_Height4793 OP t1_ja6p6ix wrote

Thank you for the quick reply! By chance are you able to share some examples?

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JohnnyFnCliche t1_ja6php3 wrote

VM is a bot, it just says shit to sound smart and rich...

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Training_Height4793 OP t1_ja6pmo5 wrote

Oh lol, Still new to Reddit, in general, I just recently started looking at it again since I'm looking to get into the trading/investing world. I assumed it was a bot since it was a very quick reply but wasn't sure.

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JohnnyFnCliche t1_ja6pwe4 wrote

This is the wrong place for getting involved in investing and trading, WSB is where people gamble the annual GDP of a small nation on whether or not an ETF will move $2 that day...

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Thatairmanguy t1_ja6qiy0 wrote

Looks like the perfect TA charts to lose your money at a 10X rate

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putsonmsft t1_ja6tda7 wrote

technical analysis has been created to make flat-earthers look good

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Nonbinary_Tea t1_ja6pl62 wrote

Honestly TA is basically astrology and has a very bad reputation around here. You would be better off asking this in r/daytrading where they drink that kind of kool-aid.

This isn't about trading here its about betting and entertainment around...certain types of.. trading

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Training_Height4793 OP t1_ja6ptgx wrote

Thanks for the information. I didn't do much research or anything yet on the best Reddit groups for trading. Thanks for your assistance.

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Dorktastical t1_ja6u44x wrote

Hahaha you think it has a bad reputation just because we make fun of it.. absolute regard right here. There now you have a bad reputation because I made fun of you..

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MrWolf711 t1_ja6zf0l wrote

Change your bearish candlestick bar from red to black and bullish from green to white also set a white background and you will be able to sense more stuff. Color Red will trigger emotions and you don’t want that.

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XNoob_SmokeX t1_ja7jwfb wrote

I always thought of chart analysis as trying to read tea leaves.

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VisualMod t1_ja6ozoz wrote

User Report
Total Submissions 1 First Seen In WSB just now
Total Comments 0 Previous Best DD
Account Age 1 year [^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.) [^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
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DA2710 t1_ja8b10k wrote

Very Geh

1

DonCorletony t1_ja8cp1n wrote

not enough arrows pointing up

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DonCorletony t1_ja8dq84 wrote

if technical analysis worked, then everyone would win in the stock market

1

ShankThatSnitch t1_ja8kwmg wrote

Yup. Those are indeed lines. I am about 99% confident about that.

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Aahil30 t1_ja9sacx wrote

Dude fuck technical analysis. Flip a coin. Heads YOLO a call. Tails YOLO a put

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muieLaBiciclisti t1_ja9xpal wrote

Do you like the yellow crayons more than the other?

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WSBaboon t1_jaawoak wrote

has your monitor recently suffered a fall?

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Nervous-Structure725 t1_ja6wamr wrote

Seen one, seen em all. Anyone can use a computer to do a chart. Me want maybe some crayon-based fundamentals and lots of delineating actual positions for entries and exits

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TennisIsWeird t1_ja6yetb wrote

Holy shit this is hilarious.

Bro’s looking for feedback and validation on his market horoscope like I would on a beat that I made.

0