drawing some lines (any feedback on my first price analysis?)

Stop selling me shit, you jobless day trading clowns.

@Nebuchadnezzar_II You're arguing against things I didn't actually say. I never said drawing a trendline tells you how long a trend will last, or what will happen when it breaks. I was giving someone who explicitly said it was their "first price analysis" some basic guidance on how to make their chart less cluttered and identify the larger structure.

And yes, a line by itself doesn't predict the future. That's precisely why I was talking about identifying swing highs, swing lows, zones, and structure rather than pretending a line has some magical predictive power. No one can predict the future. that is obvious.

As for Rayner, you're free to dislike his marketing. I recommended his tutorials because I found the material useful for learning basic chart structure. That doesn't mean I'm endorsing every claim on his website or claiming he can "consistently beat the markets."

You also seem to have interpreted my "Just study first" comment as me claiming that I have some secret ability to beat the market. I didn't say that either.

If you want to argue that technical analysis has limited predictive power, that's a perfectly legitimate discussion, but that's different from telling me that I don't understand what I'm talking about based on a tutorial recommendation.

I'm still learning too. The difference is that I'm actually trying to understand the structure before drawing thirty lines on a chart and calling all of them support and resistance.

@H1XMR You literally asked, “What’s a good entry price now?”

I offered to do the analysis you were asking for. I even said the basic analysis would be free the first time around.

If you don't want the paid service, that's perfectly fine. Just say no instead of being hostile towards a response that you asked for then pretend I randomly showed up trying to sell you something when you were the one asking for an entry-price analysis.

🤡

@yayogerardo
The theory of parallel lines on a chart is basic and simple.
One line represents a consistent growth rate (relative to a linear or log scale)
Multiple parallel lines represent a consistent growth plus a variable premium.

Parallel lines help to visually track that premium relative to the trend and to visualize changes in volatility relative to the trend. Notice how the premium keeps finding stability at the same levels. Since drawing these lines (I drew them one by one) the chart has respected them often.

Using this type of analysis for swing trading is much more risky than it might appear and the market is weaponized to exploit that sort of strategy. All the trading educators will teach you to use 'stop loss', but they are actually teaching you to accept getting forced out of your position by a suddenly irrational market, rather than understanding an opportunity which is worth doubling down on.

So really, I believe you're trying to overcomplicate something which really couldn't be more simple. No I'm not 'trying to understand the structure' because I don't know what you mean by that??

Supply and demand for monero is driven largely by PRIVATE enterprise including darknet, money laundering and hacks. Quantifying these things precisely would be impossible.