With this analysis I have been analyzing visual patterns because for me that is the way I learn best! Something I have noticed on all the Time Scales is that if you watch the angles of the Rising or Falling slope lines you can determine a long term trend from short term charts.
Take for instance from 5/11 - 5/12 there was a rising trend that peaked on 5/12 because as it became nearly vertical that was the Indicator that it was going to sell for a few hours. Then the Red Sell lines got steeper and steeper until they got nearly vertical and it reversed. The pattern emerges no matter what scale you use but it is exceedingly difficult to follow any sort of trend in real time. My recommendation with this is stick to the Head and Shoulders patterns, as they have never been false even in a bullish parabolic rise. The only difference is that FOMO can defeat trends regardless of patterns emerging. I think since we have had our first major correction, we should expect more correction and thus the actual Trend Pattern can finally emerge and we can possibly achieve a retest at the Yearly High!
I am using this pattern and my previous Idea to make smarter trades and give myself better restraint when making trades! I hope these insights help you all!
Take for instance from 5/11 - 5/12 there was a rising trend that peaked on 5/12 because as it became nearly vertical that was the Indicator that it was going to sell for a few hours. Then the Red Sell lines got steeper and steeper until they got nearly vertical and it reversed. The pattern emerges no matter what scale you use but it is exceedingly difficult to follow any sort of trend in real time. My recommendation with this is stick to the Head and Shoulders patterns, as they have never been false even in a bullish parabolic rise. The only difference is that FOMO can defeat trends regardless of patterns emerging. I think since we have had our first major correction, we should expect more correction and thus the actual Trend Pattern can finally emerge and we can possibly achieve a retest at the Yearly High!
I am using this pattern and my previous Idea to make smarter trades and give myself better restraint when making trades! I hope these insights help you all!