How to analyze charts (check-list) | Bitcointalksearch.org

crypmike

sr. member

Activity: 910

Merit: 371

Quote from: damberg on July 06, 2018, 02:56:54 PM

Quote from: crypmike on July 05, 2018, 04:49:15 PM

Hi everybody!

When I first started my attempts to analyze charts, constantly faced with the situation, when I missed something important, some reversal signal, or trendline, and as a result, the price behaved differently.
I At that moment I composed for myself a cheat sheet — what I have to check before making my conclusion.

I don't do day-trading, I use charts in 1h, 4h, and 1d time-frames as the most popular.

Here's my list:

Fundamental analysis (Market trend, news, upcoming events)
Trendlines 1h, 4h
Global trendline (1d)
Support / Resistance levels
Fibonacci levels
Graphic Charts / Patterns / Channels
RSI / MACD / OBV
Divergences
Ichimoku Cloud
MA's (I use 50 & 200)
Volume
Candle patterns

I hope this cheat sheet will be helpful Wink

-

If you found this post useful, the author will be really appreciated for +merit

As a former trader (futures and forex) I cannot imagine how you can handle such an amount of information and make consistent decision. Don't get me wrong, every trader has its own unique approach, and I don't criticize yours. I just wonder what the hierarchy of trading signal is for you? What if trendlines go against Ichimoku and candle patterns contradict RSI?
Just a bit of my experience - through years I eventually eliminated every trading indicator besides volume and price at its finest. Suprisingly, I reached the best results then.

It's quite easy. You know all these tools and it's not hard to check their status

Some traders from whom I studied use such amount of indicators

Howard1102

jr. member

Activity: 126

Merit: 5

I do not care about how to analyze the chart. Sometimes I tried to analyze Bitcoin charts with the guidance of some experts, but my analysis was never correct.

damberg

full member

Activity: 658

Merit: 108

Quote from: crypmike on July 05, 2018, 04:49:15 PM

Hi everybody!

When I first started my attempts to analyze charts, constantly faced with the situation, when I missed something important, some reversal signal, or trendline, and as a result, the price behaved differently.
I At that moment I composed for myself a cheat sheet — what I have to check before making my conclusion.

I don't do day-trading, I use charts in 1h, 4h, and 1d time-frames as the most popular.

Here's my list:

Fundamental analysis (Market trend, news, upcoming events)
Trendlines 1h, 4h
Global trendline (1d)
Support / Resistance levels
Fibonacci levels
Graphic Charts / Patterns / Channels
RSI / MACD / OBV
Divergences
Ichimoku Cloud
MA's (I use 50 & 200)
Volume
Candle patterns

I hope this cheat sheet will be helpful Wink

-

If you found this post useful, the author will be really appreciated for +merit

As a former trader (futures and forex) I cannot imagine how you can handle such an amount of information and make consistent decision. Don't get me wrong, every trader has its own unique approach, and I don't criticize yours. I just wonder what the hierarchy of trading signal is for you? What if trendlines go against Ichimoku and candle patterns contradict RSI?
Just a bit of my experience - through years I eventually eliminated every trading indicator besides volume and price at its finest. Suprisingly, I reached the best results then.

crypmike

sr. member

Activity: 910

Merit: 371

Quote from: evilsign on July 06, 2018, 10:57:18 AM

I think your list is hard to do. For the size of a beginner, it is recommended only three tools only. But for the expert trader, I guess there will be more than five tools. Basically, the function and purpose of each tool are the same, which shows the market conditions and the psychological conditions of traders. If pleased, please proceed with the discussion of the function and usefulness of each of these tools. This is very interesting to discuss. But I think there is already a thread in such a way. Hopefully, there is uniqueness or distinctive characteristics of this thread so it can last long with quality discussions.

I don't know how to make decisions based on 3 tools only. It's very risky.

evilsign

member

Activity: 280

Merit: 60

I think your list is hard to do. For the size of a beginner, it is recommended only three tools only. But for the expert trader, I guess there will be more than five tools. Basically, the function and purpose of each tool are the same, which shows the market conditions and the psychological conditions of traders. If pleased, please proceed with the discussion of the function and usefulness of each of these tools. This is very interesting to discuss. But I think there is already a thread in such a way. Hopefully, there is uniqueness or distinctive characteristics of this thread so it can last long with quality discussions.

Nisharawal

member

Activity: 336

Merit: 11

I am no stable coin. to the mooonn.. and back

Quote

author=crypmike link=topic=4606917.msg41595188#msg41595188 date=1530823755]

Support / Resistance levels
Fibonacci levels
RSI
Divergences
Candle patterns

Well Trading with the right indicators according to your approach and mindset is really a big decision to be made from one analyst. If you ask me the above-quoted list is enough for me trading lifetime along with Monthly, weekly and daily charts as I use them on regular basis. I have mastered the RSI indicator and I can take the trades on RSI indicator alone as I have gone deeper into that indicator alone and so i would advise you that don't go broad on switching the indicators, just go deeper into one indicator which you like and master it for trading if you want to trade for lifetime, believe me, that's enough.

crypmike

sr. member

Activity: 910

Merit: 371

Quote from: nydiacaskey01 on July 05, 2018, 07:22:20 PM

Those are the tools that are available in trading sites like Bittrex and off course they are worth using if you really know how to use it. RSI is one of my favorites to use before I buy, it tells me if the coin is overbought or oversold and I partner it with Bollinger Bands to see the trend and finally Parabolic SAR to see if its a Buy signal or a Sell signal.

Actually, I prefer TradingView

Quote from: cryptothief on July 05, 2018, 06:41:58 PM

If you could give a breakdown of how you used each indicator, it could be worth a merit, but basically you've just written a list (not that that is a bad thing). I am looking to get more in depth with analysis, started a few months back, but haven't spent the time I should/could have done. Which ones would you recommend to start with, as I think trying to use all of them might get a bit confusing to begin with? I really only used MAs, (probably inaccurate) support/resistance levels and an amateur version of fundamental analysis.

Maybe in future, I'll write few posts about them. Because each of them deserves a separate post. This post is only the cheat-sheet.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Those are the tools that are available in trading sites like Bittrex and off course they are worth using if you really know how to use it. RSI is one of my favorites to use before I buy, it tells me if the coin is overbought or oversold and I partner it with Bollinger Bands to see the trend and finally Parabolic SAR to see if its a Buy signal or a Sell signal.

kofibee12

newbie

Activity: 133

Merit: 0

These indicators will not help you to make a good informed decision on your trades. The best thing to do in analyzing a chart is to learn candlesticks and interpret what it means. With the combination of candle sticks and your technical indicators your analysis will be solid.

cryptothief

member

Activity: 350

Merit: 41

If you could give a breakdown of how you used each indicator, it could be worth a merit, but basically you've just written a list (not that that is a bad thing). I am looking to get more in depth with analysis, started a few months back, but haven't spent the time I should/could have done. Which ones would you recommend to start with, as I think trying to use all of them might get a bit confusing to begin with? I really only used MAs, (probably inaccurate) support/resistance levels and an amateur version of fundamental analysis.

crypmike

sr. member

Activity: 910

Merit: 371

Quote from: Lanatsa on July 05, 2018, 04:56:19 PM

Among on the list these things would really be sufficient. Too much indicators would really give out confusion.

Fundamental analysis
Trendlines 1h, 4h
Support / Resistance levels
RSI / MACD / OBV
MA's (I use 50 & 200)

It depends on your style.
I prefer to have as much data as it possible. You can choose different ofc

Lanatsa

hero member

Activity: 2968

Merit: 687

Among on the list these things would really be sufficient. Too much indicators would really give out confusion.

Fundamental analysis
Trendlines 1h, 4h
Support / Resistance levels
RSI / MACD / OBV
MA's (I use 50 & 200)

crypmike

sr. member

Activity: 910

Merit: 371

Hi everybody!

When I first started my attempts to analyze charts, constantly faced with the situation, when I missed something important, some reversal signal, or trendline, and as a result, the price behaved differently.
I At that moment I composed for myself a cheat sheet — what I have to check before making my conclusion.

I don't do day-trading, I use charts in 1h, 4h, and 1d time-frames as the most popular.

Here's my list:

Fundamental analysis (Market trend, news, upcoming events)
Trendlines 1h, 4h
Global trendline (1d)
Support / Resistance levels
Fibonacci levels
Graphic Charts / Patterns / Channels
RSI / MACD / OBV
Divergences
Ichimoku Cloud
MA's (I use 50 & 200)
Volume
Candle patterns

I hope this cheat sheet will be helpful Wink

-

If you found this post useful, the author will be really appreciated for +merit

Topic: How to analyze charts (check-list) (Read 170 times)