TAanons help me

Trying to learn meme lines, but i'm not confident in placing this lines -.-
are the horizontal resistance and support lines set correctly? drew 3 different trend line sets (green/yellow/red) can't tell if even 1 is drawn correctly or lets say acceptable.. what should I look for and where can I improve in drawing memes?

Attached: xmrbtc01092019.jpg (3814x1602, 715K)

one line set is not green, its blue... fucked up my colors

Buy Mobius sir

Delete all the lines except bottom blue, that's your support
Draw new line from where you have your top red line through all the top wicks and that's the resistance
Draw them long enough to where they converge and close to there is where a breakout will happen

like that?

so no horizontal lines as support/resistance lines?
i just don't really understand when to draw which kind of pattern, because obviously you can draw any pattern into these charts^^

Attached: xmrbtc2_01092019.jpg (3820x1638, 561K)

yes. good pennant. Now watch btc break it down

do you import from binance or how do you do this

what do you mean? I draw them directly in binance

Ye like that.
The horizontal lines would be used to predict where a pump or dump would break down/reverse In areas where lots of trading action has occurred in the past
The biggest one would be a line that hits as many bounces or rejections as possible but typically 3-4 points
Look at the moving averages too (longer ones are strongest) and if they line up with support/resistances from previous action, bounces are practically guaranteed there
I cba to draw an example cause phone posting atm
I'll post a couple of screens I took from TA user though

Attached: Screenshot_20190103-083741.png (1440x2560, 237K)

Attached: Screenshot_20190103-083755.png (1440x2560, 216K)

Thanks, I will dig into it, maybe I can understand when all that indicators factoring together

here you have an example fellow ta user, good luck with your learning

Attached: Screenshot_4.png (1527x693, 86K)

nice, ty user

you're also using more than the ma200? i feel like using 5 different MA's like TAanon described in the screens (9/25/50/99/200) is a bit too much information for me, atleast for now^^

I use some indicators and then desactivate/enable them if I need them, in this case the 200ma was enabled because I was seeing bitcoin in the weekly chart (you can clearly see in that chart that the 200ma worked as support)

what about something like this? feel like the blue line is a bit retarded, isn't it? Would the red line count as an ascending triangle? or is it totally wrong here?

Attached: vetbtc01092019.jpg (3822x1600, 609K)

Example of horizontal lines.

Attached: meme_lines.jpg (802x619, 73K)

For horizontal support and resistance, use the extremes. The white lines would be major. The yellow lines would be minor. The less lines the better. You only want ones that give you useful information. For the 2 yellow lines at the bottom, I would probably only have the upper one, since if it breaks, the one below is also likely to break.

Diagaonal lines are less reliable, but I see the same two you drew here

Attached: 1547035930396.jpg (3814x1602, 1.72M)

go to full screen mode on binance

go to the neo chart and tell me if you can see the double top that just formed.

The right point for the upper blue line isn't well defined since the graph never dipped back down to give a high point there. If you want a good standard book for the basics, look at a used copy of Technical Analysis of the Futures Markets by John Murphy. It's a classic and only a little over $5.

Im also a TA beginner here btw. been studying about 6 months. what do you guys think about MA crosses? especially the 5/10 cross. Is this good for finding exit and entry points?

Also, that lower blue line I drew is not nearly as well defined as the upper one which has 3 very distinct points. I would more likely have a small minor level like the lower blue line in this picture.

Attached: 1547035930396 (1).jpg (3814x1602, 1.63M)

ah ok, I think I start to get it somehow , ty for clarification

so when I didn't fucked all lines up, eth should see a Breakout sometime soon. the pattern is bullish, RSI and MACD pretty low and MA50 looks like its going to go upwards above the candles...
would be 158 the price to look for as soon as an upward trend would occur? thats wherer i drew the resistance line

Attached: ethusdt01092019.jpg (3842x1650, 626K)