So I'm sharing this chart to see if I'm on the right path as far as learning. I've just got into trading 3 months ago and have been studying and researching with the hopes of becoming good at this so I can actually make some money. I chose BTC because it seems those whom are highly experienced tend to focus on this more then anything else, so hopefully it grabs they're attention and I can get some thoughts and corrective criticism which I'm fine with. So here's what I have on the daily....
Yellow: Inverse head & shoulders pattern which failed to break out.
Green: Descending wedge breaking out leading to reversal.
Turquoise: Ascending wedge which can either break up or down.
Purple: Asymmetrical triangle in which if breaks support falls to my trend line around 7200ish. If it breaks up will find new support around 10,500, but will most likely break down.
White trend lines: Giant triangle which is a long correction coming to completion. Market should start a stable retracement very soon.
Am I'm on the right path here in what I've been teaching myself? Fire away!!!
Yellow: Inverse head & shoulders pattern which failed to break out.
Green: Descending wedge breaking out leading to reversal.
Turquoise: Ascending wedge which can either break up or down.
Purple: Asymmetrical triangle in which if breaks support falls to my trend line around 7200ish. If it breaks up will find new support around 10,500, but will most likely break down.
White trend lines: Giant triangle which is a long correction coming to completion. Market should start a stable retracement very soon.
Am I'm on the right path here in what I've been teaching myself? Fire away!!!
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Common no criticism??? 3 likes so far of 2 look to be well respected traders. I figured someone would have some kind of comment or advice!