Trendline OBSERVATION

2022年4月22日

Lets analyze how and why that imaginary, poor man,MMcrypto trend-line acted as such a good support and why should you not look for an entry just based on that line.

Let me explain each one of these trend lines are actually a fib level that can be traded with higher precision.
https://www.tradingview.com/x/z7gbRhpO/

Learn more in depth about Elliot Waves and its theories to understand things better.

https://www.tradingview.com/x/4Woot9ay/

See the absolute precision of these levels that are being formed in this situation, most of these levels also had other confluence, we just have to know more about the way price moves. The fib level matches perfectly with an imaginary line. Now do you think the fib was cleaner and more precise? if yes you are one step closer to understanding technical aspects of the chart

Now think for a moment to see which possible Elliot wave will be better see this chart and decide which one looks better, the red or green wave?

https://www.tradingview.com/x/CMo9VTp5/

MMcrypto made this crazy trend-line look obvious, if you are learning learn it properly don't adjust with being mediocre.
https://www.tradingview.com/x/FsupGHxG/