@FJ-215
Thanks for kind words.
Will try explain a few things below and provide some poss supp / resist visuals you can use as a guide.
@Foxdog
Love the Heineken Asahi word play
Though, the HA candles are still ok so far.
As simple as I can explain.
The HA candles use a diff calculation and are based over 2 candles (averages) & filters a lot of noise so smoother for trend / reversals.
Long body, long upper wick more bullish. Bulls pushing it up.
Long body, long lower wick more bearish. Bears pushing down.
Shorter bodies with top & bottom wicks poss pause, indecision as bulls / bears fight (bit of equilibrium). Watch for change.
So, currently, the recent HA candles are stronger bullish though wicks a little short as we hit into a poss resist area.
Would like to clear this zone but do need watch for any candle body shortening or doji around this level next week if we can't.
Anyway, I use a number of diff charts / indicators as there are certain one I favour more but can't all on one chart so I look for correlations between various indicators / supp & resist levels as most indicators have slightly diff formulas, data sources etc and finding correlations between them provides me a little more confidence on what I'm looking at.
I get they can appear a bit busy, complex or confusing and if any questions, just ask. If looking at lower indicators, look at their movement then vertically above to the what the SP / Bar did...they are related obviously.
I can always just strip one back to only show a couple maybe key thoughts based on what I've already looked at on the other charts.
Charting & Fundamentals go hand & hand imo.
Charting imo is essentially a visual representation of how the mkt (buyers / sellers) react at certain levels, with certain news flow, released or perceived / known as coming. Explosive moves (like Merc) obviously happen when unexpected...good or bad.
A lot of people try to think it is forward looking crystal ball dark magic stuff haha...but basically to look at a chart....LOOK LEFT then R.
It is not an exact science as it is dealing with human emotions (other the effing bots) and other variables, like Mkt Makers painting the tape etc.
Human nature being what it is, if you can identify certain moves or reactions left then can start to draw some probabilities for current / future situations.
So, a few charts D & a Wkly (couple posted prev) and I've tried to provide some basic info on the indicators and if you look at all then you can start to see certain levels / areas across all.
Higher 70's / 80 as pointed out the other day, around 90 next up etc.
Remembering supply vol comes from sellers & buyers either need hold a level & absorb then move up or if the smart money are in, then they may be able to assist push through supply.
Simplest charting to learn & is worthwhile imo is supp / resist, trendlines, moving averages (common) & maybe some basic patterns like channels, flags / pennants & triangles. General rule is prev support can become future resist & vice versa.
Good w/end all.
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