Hello greetings to every one welcome to my homework which is in week 3 and it is about trends on the chart and also support and resistance in a simple chart pattern which was given by a good professor @lenonmc21 so with out waisting your time let's begin.
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1). DEFINE IN YOUR OWN WORDS WHAT IS A "TREND" AND TREND LINES AND WHAT IS THEIR ROLE IN CHARTS?
It is a technical analysis that let us know the difference in price of the specific crypto at different time frame is known as a TREND which are bullish and bearish trends in accordance to the direction.
BULLISH/ BUY/ LONG TREND
This is the trend that shows the increase in price of an asset, in this trend the price of an asset goes up thereby changing the worth of that asset.
BEARISH/SELL/SHORT
This is the trend that shows the decrease in price of an asset, in this trend the price of an asset goes down thereby changing the worth of that asset.
What Are Trend Lines
This is a line used to show the direction of the crypto trend, in a asset chart trend line it is seen at the buttom of a trend movement.
THE ROLES OF TREND LINES IN CHARTS
The trend line is a popular tool used to confirm the direction of the trend if it is downtrend/uptrend or sideways trend which is of good use to traders because they use it to know the direction of the market so that they can by or sell.
EXPLAIN HOW TO DRAW AN UPTREND LINE AND DOWNTREND LINE(SHOW A SCREENSHOT OF EACH)
I will be explaining how you draw a trend line and i will differentiate a downward trend to an upward trend.
UPWARD TREND LINE
This is the process of drawing the line in an upward direction which is normally to the right and the pattern is creating higher lows, it shows the presence of more demand and supply.
DOWNWARD TREND LINE
This is the process of drawing the line in a downward direction, which is normally in the right but differentiate uptrend to downtrend is that downtrend creates lower lows and lower highs.
DEFINE IN YOUR OWN WORDS WHAT "SUPPORTS AND RESISTANCE ARE AND HOW WE CAN IDENTIFY BOTH (SHOW A SCREENSHOT OF EACH ONE)
SUPPORT LEVEL
Support level is the level where a trader open a buy order because it is where the trend that has been going down bounces back but if it penetrates that support it will head down.
- support level is when a down trend finds support and goes back up, so as a trader you should be opening buy order in the support line.
RESISTANCE LEVEL
This is the level were a uptrend reverses to a downtrend, and traders always take advantage and take profit at resistance until it is broken then before a long will be a good idea.
- it remains resistance until it breaks up and create a new pattern which signals buy.
- it remains in the resistance line then it signals sell or short.
EXPLAIN IN YOUR OWN WORDS AT LEAST 2 SIMPLE CHART PATTERNS WITH SCREENSHOTS
I will be explaining to simple chart pattern i normally use and the patterns are
DOUBLE BOTTOM
The double bottom or the W pattern is pattern which happens when the trend goes down then bounce back a little and then retest the previous low and then bounce again which forms a W, but it is only tradable when it breaks it's previous high.
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DIAMOND PATTERN
This is a pattern that is not common because it is always seen at a top of a trend and it forms because of volatility, this pattern is either bullish or bearish meaning it can go up and it can also go down.
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CONCLUSION
It is important as a trader that is if you want to be a successful trader then you must apply all this trading guild to your trading activities so that you will maximize your profit and reduce your loss.
Finally i want to thank @lenonmc21 the professor for this good lecture thank you.
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En el comentario que hice ayer me preguntas que por que digo esto, pues precisamente por lo que tu hiciste, publicaste ayer desde dos cuentas gemelas, las tareas estaban sin contenido y hoy las editaste, esto es una burla como antes dije, para el profesor, para los curadores, para tus compañeros, para la academia, para steemit en general, tengo pruebas de que las dos pruebas son de una sola persona, y las tareas aparte de hacerse fuera del horario permitido son hechas por la misma persona. Debes respetar el sistema, tu comportamiento nos perjudica a todos, por usuarios como tu las reglas de la academia son cada vez mas fuertes, y los perjudicados somos aquellos que si tenemos ganas de aprender.
Cc.
@sapwood
@lenonmc21
@endingplagiarism
@steemcurator01
@steemcurator02
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Deja de decir lo que no sabes y de qué cuenta gemela estás hablando o no ves que soy una sola persona o parezco un gemelo para ti. Realmente no entiendo lo que estás diciendo, en lugar de ti. Perdiendo el tiempo tratando de atacarme por nada, ¿por qué no intentas hacer crecer tu cuenta de steemit?
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Estoy hablando con bases, publicaste las tareas sin contenido y las editaste para meterles el contenido el día siguiente fuera del plazo permitido, pero eres ingenuo, hiciste las publicaciones casi al mismo tiempo, los nombres de usuario son casi iguales pero la confirmación de que manejas al menos dos cuentas para estafar a la academia la hiciste tu mismo cuando colocaste los dos nombres de usuario en los gráficos de esta tarea, joemuck y joemunick, okoye. Recuerda que en una blockchain queda registro de todo lo que haces y así edites ya tengo las pruebas para respaldar lo que afirmo, pensaras que no es mi problema, y que te estoy atacando por nada, y de verdad no es así, lo hago por que por personas que abusan de la academia como tu es que las reglas cada vez son mas fuertes y eso nos perjudica a todos, es por esto que lo hago.
Claramente sabes que publicaste la tarea sin contenido y eso no esta permitido, fuiste advertido y aun así luego las editaste, pero cometiste un gran error que te delato colocaste los dos nombres de usuario como marca de agua en esta tarea, esperemos la corrección del profesor.
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And i was helping him write that day, please don't get me in trouble for helping my brother please
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revisa estas dos publicaciones de introducción y cuéntame cómo es esto de una persona.
https://steemit.com/hive-172186/@joemuk/introductory-post-by-joemuk
https://steemit.com/hive-172186/@joemuknic/my-introduction-post-to-steemit
él es mi hermano
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Amigo, te entiendo el puede ser tu hermano, pero por lo que veo las tareas las realizas tu, colocaste en una sola tarea los dos nombres de usuario, ademas cuando publicaste sin contenido y se advirtió no hiciste caso, editaste al día siguiente, no tengo nada en contra de ti, pero sabes que eso no se puede hacer, si hubieras publicado con el contenido completo yo no hubiera dicho nada, esa es mi observacion.
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así que hice mal al tratar de escribir para mi hermano porque tenía escuela al día siguiente, eso significa que no volveré a escribir para él.
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Claro que puedes ayudar a tu hermano amigo, pero cambia las marcas de agua, diferencialas, no uses el mismo estilo ni los mismos graficos, orientalo ayudalo explicale en lo que no sepa, pero trata de diferenciar las publicaciones por que si no van a pensar que las hace una sola persona como paso conmigo, publica a tiempo, yo se el trabajo y el tiempo que se requiere para hacer una tarea, no pienses que te quise atacar, al contrario es para que no cometamos errores que nos perjudiquen a nosotros mismos.
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Hi @daniromero,
I have noticed your recent observations about my friend.
You might be saying their are twin accounts but.... I know these two people in real life, they live just across my street.
One of them may have been writing for his other brother as I may have observed once but please let it go🙏, I will advice the both of them
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