Long

Question everything

Updated

I have some questions that I can't find answers to so I invite anyone to help answer if you feel like it, or even add more questions???

a) Is the selling shown by candles #4 being done more by the people who bought in the big spike #1, or by day trader scalpers who buy at candles #2 for the quick 2.5 - 3% gains, or by both? At what ratio of the two would you think?

b) Is there a way to tally up the volumes shown at #5 over any particular time duration to see a difference, to see where what is being traded at any particular time may have come from?

c) If the selling off at #4 is being done by the buyers at #1, then it would be reasonable to now expect some short bets being placed by maybe the same people, the price to trend down to somewhere where they bought, say 8100 -7900, which is also at the long term uptrend line?

I am not long looking at charts, only a couple of months, and one important way to learn is to not to pretend to know everything and don't be shy to ask questions.

Thanks for reading anyway

Note

edit to c) I meant to somewhere where the STOPPED buying

Note

edit also in a), "day traders buying at #2 and selling at # 3?

Note

Or the simple question without me trying to guess, lol
Who is buying and selling at 1,2,3, & 4?

Note

An error by my inexperience- in c), I am wrong with what I called the "long' term up line, it is a trend line I just placed from late may last year that has been bounced of 3 times. I think the real "long term" line, which I have plotted from mid Jan '15, is passing today at around $2000.
What are the general rules with trend lines and how much tolerance is there?

Note

1. short term uptrend line
2. down trend
3. short term or mid-term uptrend
4. long term uptrend

In the previous comment, I should have asked what are the specific rules.

Question:
If a trend line is an angled line, that has been reacted to by support least 3 times or resistance at least 3 times, ie up or down trends and can be referenced as long or short term, what are the most universally recognised/understood to be correct technical rules and/or guidelines governing their plottings?
Because I notice that between different top authors there appears to be differences in the lines that they refer to as "the down trend line" or "the long or short term uptrend lines".

Note

Someone has pointed out that log or linear scales are used by different people which affects where the lines can be too.
Any reasons for your preference?

Note

New trend lines?

Unless a daily candle appears closed and fully above the down trend line, is BTC still in down trend?

Note

And higher than the high of 5 March?

Note

Copy of Questions I was asking on one of tradingview.com/u/DongRui/ ideas
regarding log & linear scales. Thought they belong here.
Any comments, observations, opinions, reasons, results from using either, preferences or validations, please just keep them to yourself.
Only joking, love to hear them all!!

"Ok, I need find out more. Any input from you is appreciated. When I plot a trend line for example, (which is all I can do at the moment and I still don't know if they are "right"?? haha) the lines change to different places. What I mean by right is that if a low point has happened at one price at one time and a line is drawn connecting three of those events on one style of scale, how can those facts be changed by plotting on a chart with a varying scale down the side? Why does a scale get used that visually distorts an estimation of the rate of momentum? It must take a very experienced observer to factor that into their conclusions. Sure, each must have a different purpose for a specific reason, to indicate something different which in turn will steer a path of investigation in a different direction and may end with a different interpretation for the speculative result? Notice I say speculation- I understand the concept of "indicators" and realize that the market is not guaranteed to be where the indicators suggest by any means. There must be one right way of using each? The ratio of time and price change has to be consistant, yes? Where I live, the train takes 3.30 seconds from one station to the next and you can't say "No it doesn't, 'cause I use a clock that shows 4.05mins." Puzzling, but there is a right answer somehow.

Note

Question from Professor Julius Sumner Miller:
"Why is this so?"

Note

All I did was use hit the toggle log scale

Note

medium.com/cryptomedication/uncovering-the-real-cartel-in-bitcoin-65b56a7a00a2

iguana10

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.