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COURSE ON PROFICIENCY IN GRAPHIC PATTERNS: $COW
MODULE 1: BASICS | DAY 3 TREND LINES AND CHANNELS:
Price direction support and resistance do not need to be flat.
When they show an incline, they reveal the trend.
🔰DRAWING TREND LINES
UPTREND LINE: Connects ascending lows. Acts as support. As long as it holds, buyers are in control. $CYS
DOWNTREND LINE: Connects descending highs. Acts as resistance. As long as it holds, sellers are in control.
THE RULE OF TWO AND THREE: You need two points to draw a trend line and a third touch to confirm it. More touches mean a stronger line.
🔰TRADING CHANNELS: A channel is formed by two parallel trend lines. Price moves between them, bouncing off the lower line and rejecting the upper line. $WAL
🟢UPWARD: Rises. Higher highs and higher lows.
🔴DOWNWARD: Falls. Lower highs and lower lows.
🟠HORIZONTAL: Sideways. Range between lateral levels
#StrategicTrading #TrendlineBreakout #Chatpattern #TechnicalAnalysiss #BNBChainToActivatePasteurHardFork
MODULE 1: BASICS | DAY 3 TREND LINES AND CHANNELS:
Price direction support and resistance do not need to be flat.
When they show an incline, they reveal the trend.
🔰DRAWING TREND LINES
UPTREND LINE: Connects ascending lows. Acts as support. As long as it holds, buyers are in control. $CYS
DOWNTREND LINE: Connects descending highs. Acts as resistance. As long as it holds, sellers are in control.
THE RULE OF TWO AND THREE: You need two points to draw a trend line and a third touch to confirm it. More touches mean a stronger line.
🔰TRADING CHANNELS: A channel is formed by two parallel trend lines. Price moves between them, bouncing off the lower line and rejecting the upper line. $WAL
🟢UPWARD: Rises. Higher highs and higher lows.
🔴DOWNWARD: Falls. Lower highs and lower lows.
🟠HORIZONTAL: Sideways. Range between lateral levels
#StrategicTrading #TrendlineBreakout #Chatpattern #TechnicalAnalysiss #BNBChainToActivatePasteurHardFork
Palanca N Gigante
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BullishMASTER'S COURSE IN GRAPHIC PATTERNS: MODULE 1: FOUNDATIONS | DAY 2 $PROM
SUPPORT AND RESISTANCE: Price Floors and Ceilings
Price oscillates between two invisible lines. Master them and you master all patterns.
🔰FLOORS AND CEILINGS
🟢SUPPORT (The Floor):
A price level where buyers step in and stop a decline. Demand is strong enough to hold the price up. The price tends to bounce here.
🔴RESISTANCE (The Ceiling):
A price level where sellers step in and prevent the rise. Supply is strong enough to limit the price. The price tends to reject here.
The more times a level is tested and held, the more important and reliable it becomes.
🔰ROLE REVERSAL (THE KEY CONCEPT) $BR
When a level breaks, it flips its role.
Old support
➡️ becomes new resistance
Old resistance
➡️ becomes new support
This flip is one of the most reliable trading setups.
TWO TYPES OF LEVELS:
▪️
HORIZONTAL: Flat levels of past highs and lows. The classic form.
▪️
DYNAMIC: Moving levels such as trend lines and moving averages.
MAIN LESSONS DAY 2 $APR
🔹Support is a floor, resistance is a ceiling
🔹More tests mean a stronger level
🔹Broken levels reverse their role
🔹Levels can be horizontal or dynamic
Next: Day 3 | Trend Lines and Channels
➡️ Not financial advice.
ALWAYS DO YOUR OWN RESEARCH.
#StrategicTrading #SupportResistance #USJulyCPI&PPIDueThisWeek #chartpatterns #TechnicalAnalysis
SUPPORT AND RESISTANCE: Price Floors and Ceilings
Price oscillates between two invisible lines. Master them and you master all patterns.
🔰FLOORS AND CEILINGS
🟢SUPPORT (The Floor):
A price level where buyers step in and stop a decline. Demand is strong enough to hold the price up. The price tends to bounce here.
🔴RESISTANCE (The Ceiling):
A price level where sellers step in and prevent the rise. Supply is strong enough to limit the price. The price tends to reject here.
The more times a level is tested and held, the more important and reliable it becomes.
🔰ROLE REVERSAL (THE KEY CONCEPT) $BR
When a level breaks, it flips its role.
Old support
➡️ becomes new resistance
Old resistance
➡️ becomes new support
This flip is one of the most reliable trading setups.
TWO TYPES OF LEVELS:
▪️
HORIZONTAL: Flat levels of past highs and lows. The classic form.
▪️
DYNAMIC: Moving levels such as trend lines and moving averages.
MAIN LESSONS DAY 2 $APR
🔹Support is a floor, resistance is a ceiling
🔹More tests mean a stronger level
🔹Broken levels reverse their role
🔹Levels can be horizontal or dynamic
Next: Day 3 | Trend Lines and Channels
➡️ Not financial advice.
ALWAYS DO YOUR OWN RESEARCH.
#StrategicTrading #SupportResistance #USJulyCPI&PPIDueThisWeek #chartpatterns #TechnicalAnalysis
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