The Chartists
A Chartists is a technical analysts that rely majorly on naked charts and use the patterns to analyze the current price movements so as to predict future market movements.
To pinpoint when to buy and sell you have to identify these patterns, so I use lines to connect the common points or swing points, such as highs or lows, to see the kind of pattern that emerges.
You know when to trade by the chart formation and the nature of the price movement preceding it so that you are able to forecast what the price might likely do next.
Chart patterns should not be used in long portfoilio trades. They are best for short term portfolios which is why I have such extreme highs and lows with gains and losses.
This is why Im trading $Bright Health Group(BHG.US$ this week. Its posting lower highs but higher lows and as this continues the prices will meet in the middle and a breakout or breakdown occurs depending on the trend direction which for BHG is a breakout to 40.00-60.00. Im in at 14.10. Needs to close above 16.68 after that no resistance until 37.20. If their average volume is maintained then it should breakout late tomorrow or early Thursday.
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mskwaryk : I'm new to all this and seems like you know what your doing better then others I have took advice from on here...I got 1000 to start investing with..I'm in on lkco and bnrg...should I hold tight there or pull out and jump on this stock? thanks
Paulie_Adams mskwaryk: another person to follow is game day and sam Wallstreet are also good follows I find.
pockets_85 : Also has a nice ascending wedge on the hrly
Mcsnacks H TupackOP mskwaryk: Those two are great ones if you have the patience to wait a couple of weeks.
Paulie_Adams : truth! hahahaha thanks for always being active and responsive!
Mcsnacks H TupackOP Paulie_Adams: I try my best to be but I'm not sure people understand I get thousands of messages on here every day and I miss some. I just hope they don't think I'm ignoring them.
Paulie_Adams Mcsnacks H TupackOP: I would hope not! I think you are the most active. due to the messages I'm sure that's why many stop responding. it's too difficult for some to attempt to get to them all.
pockets_85 : Damn they shorted this one! Thought they didn’t have shares?