What books does Veeky Forums recommend for learning about meme lines?

What books does Veeky Forums recommend for learning about meme lines?

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saham-indonesia.com/Ebooks/Technical Analysis/Elder Alexander - Trading For A Living.pdf
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>implying anyone here knows what they're doing

Don't waste your time. TA is only good for analyzing market psychology after it has moved.
For every chart that successfully predicted the price movement of a coin, there are another 5 that got it wrong. The ones that got it wrong just move the goal posts and re-draw the meme lines because there was a hidden horseshit pattern or some other nonsense.

It's amateur astrology and everyone is looking at the same patterns which leads to a self-fulfilling prophecy type situation.

investopedia and babypips
dont get put off by naysayers, I don't know who planted the idea that TA was some magic tea leaf reading thing, but just like everything else in life, there are people good at it and bad at it
just remember the patterns you read about can and WILL morph UNLESS they confirm on candle closing
that's a super important part about patterns that many do not understand.

don't use charts as predictions, use them as overview of trends and support/resistance and retracement

Price in relation to volume is more important than meme lines. Watch OBV for buy and sell volume. If the price took a major dip and has low volatility, but has found support and isn't continuing down even though sell volume contines, it is likely being accumulated by a whale for a future pump. Likewise, if a coin has a major bull run but has found resistance, and more buy volume does not push price high, the whale is selling his stack before the bear takes over

For example, on 9/25 to 9/27 you can see price had strong support but sell volume continued. This was a sign that a whale was absorbing those sells anticipating a move upward

Damn, im dumb. Even if there is an diagram i still can't absorb it.
What should be the correct sell volume then if there is an strong support.

Now look at the recent dip. Buy volume came in but price was downtrending, failing to find support. A patterns fag might have called that a bull flag, but volume indicates that a whale was absorbing those buys and selling some stacks before the dip. Volume and Price are far more important than any patterns or meme lines.

Can you elaborate a little more please? Genuinely interested.

I totally agree with you, I think it's a meme, but if a big piece of the market act accordingly to TA principles, why we can't use it to predict how the markets will work?

I mean, maybe it doesn't work as a thing itself, but once a lot of people use it to make their decisions, so we can predict how things will work.

This is good : saham-indonesia.com/Ebooks/Technical Analysis/Elder Alexander - Trading For A Living.pdf

Please read my posts It is not simply "use it because others do"... the whales are not invisible and cannot hide their activity. If you understand price and volume you can see clearly what they are up to, and which direction they will drive the market. The big fish will swallow the little fish, unless you swim in his wake

here is a chart with some common patterns
notice how entry is at a certain point ABOVE the pattern (or below if its a breakdown pattern)? thats because you should assume the pattern fails unless it CLOSES above that certain point for whatever pattern there is.
Why? Well because market makers like to fuck people over.
So you set your buy after a candle has closed above confirmation point and stop loss just under. This way, you never enter the trade if it goes bad and you do enter if it explodes up.
If its a fake out, you need that stop loss to protect yourself. Usually though, fakeouts are caused by maybe one faggot buying, so the volume will be really low, so even if the candle closes above confirmation in this scenario, it can fall under that same point because of the low volume.

Can't remember the name of the book but there's a story about a guy from pre-computer era who would just trade from using price and volume data. Same principles apply today. Understanding this (especially volume) will benefit every trader and investor.

what does it mean if obv is 2000 and -2000

So, what do you think about LINK right now?

This right here. Other than the double top/bottom and head and shoulders which are usually less reliable in BTC, those meme triangles are happening all day, every day, on almost every timeframe, and they tend to be reliable more often than not.

So what pattern is this, TAfags? 30m

...

meme lines are a joke.
Show me one of these that have formed over the past week.

That is awesome. Thank you so much good sir/madam.

Binance isn't on trading view so I can't see OBV for LINK, but the dip is only following BTC. LINK has very good fundamentals and you should probably just hold and accumulate. This coin isn't just another PnD shitcoin. LINK could be the key to unlock actual use cases for Ethereum, other than multisig wallets and scam ICOs

>BTC is literally forming a falling wedge right now
>asks to see one of these that formed in the last week
kek

>happening as we speak
Notice how as soon as it broke below that meme line I drew days ago, it dumped like a sombitch, then formed a falling wedge... Shits happening every day all day.

omise go has an head and shoulder pattern on 1d candle