"Chart Reading" Posts
WTF Chart of the Day: Someone Must Have Written A Script For SPY
By Lawrence
SPY made perfect moves following the STOPD levels as if it is following a script. Time to start some #conspiracy LOL
Nikkei Tagged First Pullback Target
By Lawrence
Zoom in to hourly on Nikkei in this chart. This is an update to my post Why Nikkei 16000 Has Always Been The Target? Now that we got the first pullback. We have to ask ourselves – is it done yet? It is similar to the Apple chart I posted before, once you see a […]
Why Nikkei 16000 Has Always Been The Target?
By Lawrence
Chart below. It is not that complex. Just spike and ledge on weekly. Mission accomplished today.
Gold Reached First Downside Target
By Lawrence
Spike and ledge first target reached. As long as the baseline of the spike and ledge acts as resistance, the next target below is in play.
Nasdaq Composite At Critical Juncture Now
By Lawrence
The chart of Nasdaq Composite below. If this is the anti-crash climax following power law distribution like what happened to Nikkei many years ago, not only the crash low will be retested, it will be also take as long as the time it spent on this recovery to find a new base to bottom out. […]
False Breakout – The Most Misunderstood Pattern
By Lawrence
Part of Art of Chart Reading Traders often focus on how accurate certain chart patterns are and how much money you can make from using the patterns. The more experienced ones would add to their consideration of the risk reward profile of the patterns they choose to use. However, many traders never plan to react […]
The Psychological Effects Of Swing Extremes
By Lawrence
Part of Art of Chart Reading The Pursuit Of More Timely Trend Identification I started my chart reading education with the swing trend definition because that was the one that my mentors use. It works great back then and works even better nowadays. I have tested many trend definition methods in historical data and none […]
Price Moves Like We Breathe
By LawrencePart of Art of Chart Reading The basic types of price movements are just contraction and expansion. It is similar to how we breathe. It cannot be simpler.
Other Trend Identification Methods
By LawrencePart of Art of Chart Reading There are many trend identification methods other than swing trend. The number of trend definitions exploded in the late 1990s as that was the time where every person with a personal computer can play with historical price data and trying out new ideas. I am going to mention two […]
Crude Oil Outlook
Daily chart on crude. I marked the first quarter STOPD Levels. If there is a 3rd push back up, it will be back up to 107-107.5 where the 1st quarter low is. It is not a long term bullish play. Instead, this 3rd push up is a short term counter-trend swing play.