DislikedOK guys. My first chat and I taught myself to draw trend lines off of Victor Sperandero.
(older trader)
I am drawing from the high in mid feb to the preceding Highest High from the lowest low. So my line is touching feb 25 ish at about 90.30. we are looking like entering into a ranging period. I wasn't fully expecting a reversal this early on after being so bearish. And i was correct but It looks like we are ranging as we had a minor rally/ testing of the rally high's (horizontal line). Essentially we are entering a ranging period. There could...Ignored
Hey br good chart, good idea and rationale behind ur thinking. Interesting that you picked u/j, its a very tough pair to trade. What time frame do you start your analysis? You should start on a monthly and work ur way down by every TF(mn, wk, daily, 8h, 4h, 1h, 30m). While doing this, identify and draw equidistant trendlines, since price during a trend generally respects tls of the same slope in any trend. Draw a lot of trendlines, a lot. This will help you get a better picture of where price magnets are and where price is headed. Later today when i get some time ill show you how i do this, and ill post every tf chart for u/j and ill give you step by step analysis with each one.