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Rookie

$KORE is just starting to Heat Up--We just got a quick taste of what to expect in the coming days...SUPER explosive day(as the FLOAT is VERY tiny due to the redemptions that they did). I REALLY suck with Elliot Waves and Fibs, but I drew some Retracement Lines and some trend lines... IF I did it right(Which I doubt I did, but like 10% I did it right)---Then I forecast that $KORE's next leg up will be at $10-$12---and we should be hitting that sometime Tommorow or on Monday....Not financial advise, I'm quite a rookie---- What I did notice was the .78 Retrace from the HIGH was a SUPER deep retrace(which may take some more conslidating before legging up)...if it had respect the 0.61 or 0.5 retrace area then I would be EVEN more Bullish...but I've seen some Reversals In my days and $KORE looks like it's JUST getting Started. Analyst PT from three seperate analysts including 1 TOP notch analyst who has it listed at $18---The other two ($17 & $14)...Let me know what I did wrong with my lines and drawings, I'm just a rookie learning the ropes with Elliot Wave stuff
NYSE:KORELong
by LaserSniperTrades
Like clockwork eh?Watching the level of support, now resistance is quite obvious to me as well as the Fibonacci retracement shows it should come back up just past .5 so like nick(the man) says to be reactive and not predictive. Always double check anyones ideas to be sure you agree in said probabilities for a potential move on the pair. Be sure to compare monthly, weekly and daily before moving to your lower time frames. And this was your rookie analysis! I’ll see you on the profit side :)
Short
by dindydoesit
Cadjpy long #rookieanalysisSo looking at the monthly time frame this pair is looking quite bullish but please double check of course for yourself. What I see is that with the Fibonacci retracement you can see it corrected it’s last upward impulse right between .5 and .382 and is pushing back up so like I said seems bullish. Looking at the weekly it’s showing the same thing as it’s on the monthly. Using the Fibonacci retracement it is showing it has nearly hit .5 but based on the trend it may test the .382 before going to the upside. Looking at the daily…. You guessed it, using the Fibonacci retracement you can see the last impulse to the downside came back to test the .382 and is continuing to push downward. So on the 4 hour this is where I see the points of support and resistance and based off of the data from the monthly, weekly, and intraday time frames I see these two ideas as being the most likely outcomes. I don’t understand the commitment of traders fully yet so my analysis has 0 basis from that but if anyone wants to add that info on here in the comments then please do, as well as any advice you have for this analysis. Thanks, and I’ll see you again soon
Long
by dindydoesit
BTC/USDT Rookie View Yo! If anyone sees this, bear in mind I am very novice still at reading charts. So I collate information from many different sources and then test them, chart them out myself and see what I can come up with. Youtubers I follow and take snippets from each are coin bureaux, crypto capital venture, Ivan on tech, altcoin daily, crypto banter, altcoin daily, bitboy lol, and crypto expert, some others I can't remember. I don't agree with all that they say and I know many are quite biased to some projects than others. NEWS: Bitcoin has seen very bullish temperament in the past 24hrs, a jump from $33k - $40k on the 26th July. City A.M (Uk media) mentioned that Bezos would consider crypto payments and implement them into Amazon by end of year. So many reports are now showing that is or was not the case, and that Amazon has stringently and firmly said - it ain't happening this year and no Prime coin in 2022. So what?!? This was the catalyst that brought BTC down, we saw a $1k drop within about 3 mins when outlets received word about this news, in the same hour as BTC hit $40k+. Good things to look out for in the news, J Doresy wantes crypto as implemented in Twitter...?... and something about Apple? Facebook? Elon accepting btc for tesla again? Xrp lawsuit 28th July what will transpire on this date? Ada smart contracts, Alonzo hard fork, Gougen complete end August/Sept time? How will they perform? Doesn't it sometimes feel like motions have already taken place and it's laid out for us, so the easiest thing would be to Hodl in this case lol, yet the fucked up things is it may be the worst thing to do! Anyway that's it for the news, back to charts. MY (BASIC) CHARTS: I have drawn a line from the top $65k BTC to where we are at now, the peak of the candlestick as shown. Yeh, maybe it's the wrong place. However I am following this other guy who drew it and explained it better, His name is Martyboots on here, check him out! We are still not clear about a long-trend bull cycle. It seems we are still in a descending triangle, and under the 200-day moving average. For some reason, I may have pressed the wrong 200ma on this as my chart shows we broke over it already lol. I think it's pretty clear that we need to consolidate above resistance and keep making lower highs which in turn will break out of the descending triangle and also out of the 200ma. This perhaps could be a confirmation indicator that we are in a strong bull uptrend and things will start to get wild if so. I agree that today will be a good test for bitcoin and market sentiment. We in crypto should not give a f**k if Amazon declines the report, it's funny because one day amazon will need bitcoin, and bitcoin won't need amazon. CONCLUSION: So on the BTC chart what I am looking for is consolidation above key levels, mainly the resistance areas and setting higher lows, breaking the descending triangle pattern and the 200ma line. If we hit this, I would be very confident seeing the crypto market on a phase 2 Bullrun, and maybe tapping out around 10% above ath $70-75k. I can do another amateur chart for this and explain why lol. If we don't hit this and go sidewards for a while it could become choppy as one said. Altcoins will again suffer, I think we need some bitcoin dominance above 55/60% again so it makes it proper run, then gradually chill out and let the alts kick in and have their time. With good things coming this year for good projects it would be sh!tty if BTC dragged the alts down again because btc loses momentum and volume dries out. Wouldn't like to see below a $1 trillion MC either. PS I've left out other indicators, I don't often use much else aside from RSI, MAC D and occasionally Bollinger bands myself, it would make the chart look more messy to ones eye. Please leave comments and any advice or fixtures to help to broaden my understanding more of this. Good day yal... Ru
BITTREX:BTCUSDLong
by RuCrypto2021
2
A trading system for rookiesThere are many trading systems but most of them are very complicated for the novice trader. The 30d/200d SMA trading system is simple, easy to comprehend and gives few and reliable signals without many false signals. The trader has to draw the daily diagram of the stock. Next they have to install three simple moving averages of prices, the 30d SMA, the 200d SMA and optionally the 9d SMA (to track the price formations). Price movement below 200d SMA most of the times signals the change of the stock’s long term trend to declining and this is the reason we must never buy a stock below 200d SMA. Correspondingly, price movement below 30d SMA most of the times signals the change of the stock’s midterm trend to declining and this is the reason why a new trader must never buy a stock below 30d SMA. Following these two rules, a new trader can avoid getting trapped in a declining trend that can diminish their capital. New traders are unaware of the risk of holding a stock with a downward trend. They are carried away by the excitement and hope of its prices returning to the levels they bought it and do not sell it. So, when they now have a loss of 70-90% in the capital they invested, they are seized by panic and sell the share at humiliating levels, losing their money. This is also the main reason that the 90-90-90 rule applies, i.e. 90% of new traders lose 90% of their capital within 90 days. The second important reason is that they follow the very short-term trend of the share that gives repeatedly false entry/exit signals, so they do too many transactions that lead them to big losses. Only very experienced traders can successfully track the short-term trend of a share (minutes, hours). My opinion is that a new trader should follow the 30d/ 200d SMA trading system, which applies in the daily stock diagram, and leads them to a small number of transactions with minimum risk. In fact, this system, if firmly followed, may lead them to big gains. Later when a rookie trader gets experience, they can use the same trading system for shorter timeframes i.e. in stock diagrams of 1 hour, 30 minutes, 15 minutes and so on, timeframes. A complete list of guidelines for the novice trader is presented next. I am sure that following these guidelines, a novice trader can beat the 90-90-90 rule.
NYSE:HSBCEducation
by Gnothisafton
10