hey again guys , lets review this chart for a second and check out how to read the CSL of a stock and how the weaker hands in the market can benefit you , quick note : i also use STOCH & RSI charts to watch some other favorable movements of a stock and also fib retracement and circles where they apply ( longer term usually and some times day trading not usually for this method )
ok let get started , if you look at the blue line just past the 18:00 time frame this was a resistance turned support then back to a CSL point the two candles we are focusing on here are the two larger one that peaked over 66000, if you noticed how they moved sideways for a 2 hour point creating a baseline support these points are critical as the investors in the market are trying to determine the price another key point on this time frame is actually the candle just before it at 60000 this is a point where most investors woulden't think the price would fall below any time soon but as soon as the candles crossed that point a large amount was sold off , part due to the gain from the lowest point but part was also the weaker hands fearing a drop in price take advantage of this move , the safe buy in here is anything below 60000, for terms of the example we picked some up at 59000 , now that we have our cheaper coins and have reviewed the charts history you will see many many similar moves and that is crucial for this technique the more times a CLS is broken and it corrects back to the CLS then that is always a profit and a nice one this can be used on a stock going +100% and also -100% and any where in between , they key is to watch the stock for hours after you buy it will go up and down but hold on the more advanced traders will try to shake you of your coins , watch the coin when it hits near the CLS and debate on selling there either way 59000 -> 62000 is a good trade any day , the key point of this strategy is to line up 3 or 4 stocks like this you aren't aiming for 80 % gains but rather 3 - 4 10-30% gains through out the day in this case 59000 -> 65000 would have been an amazing trade but honestly not one i would have made the reason being is you want to be out before the price starts to drop so you can play the next hand on the weaker traders who end up selling their coins for losses , there are critical points in these charts like when it dropped to 57000 that is a point where i buy as many coins as people will sell me and eat them up because you have already looked at the history if it repeats it 8 or 9 out of 10 times you are 80-90% sure of history repeating itself there is a slim chance for a loss and the gains will be nice when you buy all the low coins for yourself , i hope this has helped you look at stocks differently enjoy living in the green !! DISCORD :https://discord.gg/46gUR8y
