RE: Why I recomend 1hour candle charts, if your a new trader..

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Why I recomend 1hour candle charts, if your a new trader..

in trading •  7 years ago 

Sorry no.. you need to zoom out to see more data to decide on your bases.. a base is defined by the bounce it had off of it.. so I will draw some x x x to show you the bounces that are missing, to define your bases.. notice my arrows show you too locations that look the same and dont create a bounce.. .. now i will draw in yellow the real bases and the safe circles to buy in..
hope this helps.. pls dont forget to zoom out and look at a 1 to 2 month picture of the stock to see the bases easier..

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Assuming the rest of the chart looks good, going back 1-2 months. Would you say this chart is a buying chart, or are you waiting for that further base to break, which would be the second base?

https://prnt.sc/fvqf9f

that base seems to weak.. especially since its been consolidating there for a while.. Btw the rest of the chart is not nice.. you have to look at a bigger picture..

Thank you very much ~