This is my 4th Chart Patterns trading lesson for you.
In this lesson I will take you by the hand and give you
a practical in-depth look into basic chart pattern reading.
I use this chart example to show you WHY I actually look for:
– a higher low (not necessary though)
– a higher high
– a retracement: higher low
– break and close above the higher high
In this example you will get to see why this is crucial.
Because it will get multiple higher lows, a failed higher
high, and next some sort of weak fake breakout.
If you would buy this breakout you would get stuck!!
That’s why I wait for the retrace, and even then wait
for it to break and close above this higher high.
In case of such fake breakouts you won’t see it break and
close above it again, and you are saved from a bad entry.
This also saves you from stop-hunts done by bigger traders,
although that is more relevant in bigger coins and at
major swing levels.
After the failed reversal, the trend continues on
its way down, so what we dealt with here, was
“a continuation pattern”.
If you like what you see, then please give it a thumbs-up!
It’s all free content, so please feel free to share on social media.
If you want to learn charting and trading like I do,
Please visit my site
I have made many many free lessons for you:
1: What is Cryptocurrency?
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2: What is Blockchain?
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3:
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4: Risk Management Basics
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5.1: Technical Analysis: Markets
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5.2: Technical Analysis:
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5.3: Technical Analysis:
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5.4: Technical Analysis: Chart Patterns
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5.5: Technical Analysis:
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5.6: Technical Analysis: Patterns
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5.7: Technical Analysis: Indicators
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5.8: Technical Analysis: Divergences
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5.9.1: Technical Analysis: Theory
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5.9.2: Technical Analysis: Fibonacci Retracements
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6: Chapter 1: Introduction to Pro Course
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It is my intention to make a lot of these charts.
If you want to see an analysis of a particular Crypto,
Please let me know! You can also contact me on my Telegram Group:
or email: info@tradingcryptocourse.com
Although the charts can look a bit intimidating at first,
don’t be put off by that. It is not that complicated at all, you’ll see
I really hope it gave you a good oversight of what chart patterns are all about.
Please look at these charts multiple times, so the wealth of information they contain can really open up and sink in.
Happy Trading!
Carl Everest
TradingCryptoCourse.com
Published at Fri, 18 Jan 2019 22:01:19 +0000
