if i'm being honest i mostly learned from studying and trying to replicate charts from legends like @inversebrah, @LSDinmycoffee and @LomahCrypto
PATTERNS - a thread.
what do dairy products, shampoo and the very first couple all have in common?
the answer is lines, shapes...or rather patterns that traders use to predict where price is going in the future.
if i'm being honest i mostly learned from studying and trying to replicate charts from legends like @inversebrah, @LSDinmycoffee and @LomahCrypto
i've made TONS of mistakes in terms of bad, low effort and flat-out invalid patterns with my charts.
with analysis its very easy to make your charts look they way you *want* them to.
i guess you can have fun staying poor...anyways
there are countless patterns, and if i'm being honest you can almost "create your own" to suit your bias.
but for now, lets focus on three: Adam & Eve, Head & Shoulders and Wedges.
Adam & Eve is a reversal pattern and one of my favorites.
it's basically when you have a sharp reversal at a level, and then have price retest that level in a slower fashion.
price hits demand, bounces sharply, then curves in-and-out of the are it bounced from
A: price sharp down
B: price sharp up
C: price slow curve into area of demand
and it's that simple
https://t.co/VCvOLmhUH3
final update: adam & eve #BTC pic.twitter.com/yffLKl540C
— \u26a1\ufe0f TUNEZ 2000 \u26a1\ufe0f (@cryptunez) January 14, 2021
Head & Shoulders is another reversal pattern and a recent CT favorite as bitcoin looks to be printing one of a few timeframes...or is it?
a Head & Shoulders is a pattern that consists of 3 highs with the 1st & 3rd being the same height & lower than the 2nd
1: high
2: higher high
3: lower how (equal to 1st high)
this pattern signifies that the level of 1&3 is a level of supply, and anybody that bought in 2 got faked out and is now trapped.
A: high
B: higher high (buys trapped)
C: high (same level as first high)
and it's that simple.
wait...something doesn't look right here...more on this later
now the wedge is powerful and must be respected.
this pattern (of two lines converging) is easily my favorite and most actionable setup.
in fact, i'm hi-jacking my own thread with a triangle masterclass. READ ⬇️ https://t.co/MkpXp9GXGF
TRIANGLE MASTERCLASS - a thread.
— \u26a1\ufe0f TUNEZ 2000 \u26a1\ufe0f (@cryptunez) January 18, 2021
what's the simplest, most effective method of trading a market that trends as hard as cryptocurrencies?
trendlines.
one trendline on its own is strong, but when you put two together you quickly realize just how powerful this simple tool can be. pic.twitter.com/XiHUyn4SOH
well, I think with patterns we can use 2 variables to weight them
1. precision
2. size
okay so this one right here is why/how I think a lot of traders misuse patterns.
it's very easy to let your bias influence a chart, rather than the other way around.
let me add two trendlines to a chart and I can make it look however I'd like.
your analysis can become systematic and consistent.
you start seeing charts for what they are rather than what you want them to be
as we see we have a head & shoulders playing out.
precision - well, if our first and last high are supposed to be the same...and they aren't...then this pattern doesn't seem exactly "valid"
size - medium.
wait a second, is that the god triangle?
precision - seems precise...not forcing it.
size - large
but if we're being honest with ourselves it seems the bullish case is simpler, precise and less "forced"
plus, the pattern is larger. the higher the timeframe with your analysis, the more weight you give to it.
so long as bitcoin is below trendline B, we assume price is compressing
momentum is resetting...if bitcoin breaks above our op cost line we want to be long, if bitcoin breaks below our bias line we want to be short.
we want to long altcoins
https://t.co/wVOlZ82osi
So simple.. #bitcoin \U0001f602 go sideways pls pic.twitter.com/7aNlLLlxRm
— \u03fb \U0001f53a \U0001d524 \U0001d532 \U0001d52f \U0001d51e [\ua729] (@MagUraCrypto) January 17, 2021
it's only if you're able to separate your analysis from your emotions that you'll be able to do this effectively.
same goes for your trading.
for more tips, tricks and tutorials on how i've navigated these markets since 2017 please join my free public telegram channel for more!
see you in there 😎
https://t.co/DFOPJPdZKd
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1/“What would need to be true for you to….X”
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
Next level tactic when closing a sale, candidate, or investment:
— Erik Torenberg (@eriktorenberg) February 27, 2018
Ask: \u201cWhat needs to be true for you to be all in?\u201d
You'll usually get an explicit answer that you might not get otherwise. It also holds them accountable once the thing they need becomes true.
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
I'm going to do two history threads on Ethiopia, one on its ancient history, one on its modern story (1800 to today). 🇪🇹
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):
The famous \u201cLucy\u201d, an early ancestor of modern humans (Australopithecus) that lived 3.2 million years ago, and was discovered in 1974 in Ethiopia, displayed in the national museum in Addis Ababa \U0001f1ea\U0001f1f9 pic.twitter.com/N3oWqk1SW2
— Patrick Chovanec (@prchovanec) November 9, 2018
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹