Triangles are awesome: a great exampleHello, I just posted an idea on why I don't like taking breakouts, I mostly do double bottoms on support, but I really loooooove Bit. Connnneeeect. Er I mean triangles.
And as a support and resistance "expert", I know when to buy or not (well sometimes). I got a idea of when they are probably not going to hold much longer, and you see, from one strategy it can open towards another one indirectly. Not good to short at resistance and you got a great pattern right under it? Might as well buy.
If I think shorting at a resistance is a losing strategy, then why not flip it on its head and go the opposite direction?
Looking quickly at some examples, not even S/R or EW, just the pattern, I can eyeball the smelly ones and potentially good:
I probably already made an idea on this, but let's go over it again :)
And guess where it went? Like a fing magnet!!!
Actually this one was really easy to spot, I even remember posting about it.
I don't think I took it and I think it was because I was afraid of being in mid july, I just decided to avoid the mid july to mid august period entirely. Have to take a break at some point anyway.
So unless you are a c**t like me, you have a brain therefore was bullish on gold rather than nonsense like Bitcoin, I really see no reason not to buy this if that's your timeframe and you trade gold (and didn't have other correlated trades going on...).
This is the kind of thing that you have to practice as so to be able to spot more easilly.
I want to look at agri, they're basically what extends most, more than anything else, and they have made so many people rich quick and famous.
This is where people get absolutely massive winners in short periods. Especially when they keep adding to their winner.
Warren Buffet had a massive winner with coca-cola, and people that bought Bitcoin in 2011, but that took a couple of years.
Here we are talking of a few days or weeks to get an absolute insane ripper.
I heard that once a future traded up to limit for 26 days straight, not sure what it was. Lmao I imagine anyone being short there XD RIP.
(trading up to limit means the price goes up the maximum that the CME will allow at which point trading is halted for the day...)
This is ok:
Well anyway, I know there are some nice formations in FX & hard commodities, and also Bitcoin, apart from that I don't really know.
There might be in other markets, but I just stick to what I know.
In any case it is something to look at backtest and if it works add to the list of tools.
