During this Bull Run, Bitcoin, other cryptos, and many NFT related stocks have seen significant price gains.
Knowledge is power. And, many traders will make moves based upon information that provides potential expectations for certain outcomes.
Will the price go up, go down, trade sideways? Many times, even with the best possible available information, we just can not know and it's seemingly random.
But, in the search for patterns, many believe that certain trends in graphs are indicators of future price action. I usually go from gut feeling when trading and trust my instinct most. Especially when I am dialed in. But I have traded off such patterns and won.
In the pictorial below, here are 20 graphical types of scenarios that are trade indicators. I also provide these pictorials in larger form for easier viewing in the pictorials that follow the main panel
An understanding these patterns could be the difference between being profitable and operating at a loss, buying in at just the right time, and being able to remove one's emotions from the situation. It's possible to be ahead of the curve with an understanding of such patterns.
It's also important to understand what timeframes you are seeing and examining and trading within with respect to these patterns. Are you going to day trade, or operate on longer time frames?
I have previously delved into day-trading, and multi-day trading of NFT stocks, riding momentum upward and such. The patterns given in these graphs also hold for and are especially useful in such circumstances. You can see my previous articles about specific NFT stocks in the links below (some great leads for NFT related stocks BTW)
25 of 32 NFT stock tickers were red today (Monday, May 3), some decreased -18%.....
Time to short-sell NFT stocks? 25 of 32 stocks were red or neutral on Friday (April 30).
38 NFT stock ticker symbols and 3 keys for trading them to make money
Especially if you day-trade Bitcoin, crypto, and any stocks really, you should know these patterns.
I hope they help you to win, and until next time may all your days be green.
