If you create a wedge out of 2 trend lines, support and resistance, and put a vertical line at the tip --> The vertical line tend to be the time of the price climax (highest or lowest).
Works on bear flags and bull flags.
In this picture, you'll see what I'm talking about.
If 1H, 2H, 3H, 4H 1D charts confuse you because you can't see a better picture --> go to a bigger time frame.
It seems like from the previous wedge, this week ETH will go to the lowest point (December 3 - December 10) AKA 1 week candle AKA 7 days.
What's after? Might build another flag (another wedge) and you will make another tip. So put a vertical line on the tip and that's the time ;)
And then you can see when and where it's going to be the next price climax.
IF YOU STILL HEAR PEOPLE SAYING "BUY THE DIP, IT'S GOING UP, BOUNCE, ETC. ETC." do not buy. #psychologytrading101
Good luck
Works on bear flags and bull flags.
In this picture, you'll see what I'm talking about.
If 1H, 2H, 3H, 4H 1D charts confuse you because you can't see a better picture --> go to a bigger time frame.
It seems like from the previous wedge, this week ETH will go to the lowest point (December 3 - December 10) AKA 1 week candle AKA 7 days.
What's after? Might build another flag (another wedge) and you will make another tip. So put a vertical line on the tip and that's the time ;)
And then you can see when and where it's going to be the next price climax.
IF YOU STILL HEAR PEOPLE SAYING "BUY THE DIP, IT'S GOING UP, BOUNCE, ETC. ETC." do not buy. #psychologytrading101
Good luck
If candle crosses the bottom band, that's cheap. Vice versa.
If price starts going up, it will bounce back on the middle band before it keeps going up or bounce back down. That's when you make your decision to go long or short.