Pritti

@meldonium

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Thin lines above and below the body of the candle are called shadows; they reflect the price extremes of the day. The highest point of the upper shadow corresponds to the maximum price, and the lowest point of the lower shadow corresponds to the minimum price.

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The Japanese candlestick is the most informative type of chart. A Japanese candlestick consists of a body and a shadow. The candle body is the wide part of the candle that covers the price range between the opening and closing prices. If the body of the candle is black (that is, filled), then the closing price was lower than the opening price of trading; if it is white (empty), on the contrary, trading ended at a level higher than the one at which it began.

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What is a timeframe? A timeframe is a time interval that is reflected in chart elements. They can be minute, hourly, daytime, etc.

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There are 3 types of charts: 1. Linear - the simplest; is built only at closing or opening prices. 2. Bar – shows closing and opening prices; also shows the minimum and maximum prices during the day. 3. Candlestick - considered the most convenient. It covers the shortcomings of the two previous graphs. Shows the mood of market participants within the timeframe.

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Great. Show us this

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3. Based on the analysis of historical data, it is possible to predict the dynamics of price changes, since the behavior patterns of market players can be repeated.

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2. Individual price changes may be random, but their combination over a period of time can create a trend—the direction in which the market will move for some time. If down, then the trend is downward, if up, then the trend is up.

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1. Any factor that can affect the price: psychological, economic or political, has already been taken into account by the market and included in it. Therefore, to make a forecast, you need to concentrate on the price chart.

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Three Pillars of Technical Analysis 1. The price takes everything into account. 2. Price movements are subject to tendencies (trends). 3. History repeats itself.

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Simply put, knowing technical analysis, you will not be able to answer the question “why did the price change?” But you will get an idea of the direction in which it may change in the near future. Technical analysis is necessary, first of all, for traders, since the asset itself is not important to them; they make money from price fluctuations. Investors also use this method: for example, to identify trends, find entry points, etc.

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What is technical analysis? Technical analysis is the study of data on how price changes based on market activity. On the chart you can see the levels of supply and demand and track investor sentiment. Technical analysis tools help predict where the price will move next. Do you use technical analysis tools?

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After a long rest, I started my favorite part of my daily life again - studying. Now I’m studying technical analysis.

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I just got my Basename as part of Onchain Summer! 😎 Basenames are ENS names supercharged by @base: low-cost (or free!), easy to use, and a powerful tool for connecting builders across the onchain economy. Get yours today.

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I didn’t do anything this week. Because I need to rest too 😊

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