The YouTuber Jack Angel mentioned in one of her post that she has been greatly influenced by another YouTuber Alex Onze on stock trading.
Alex Onze was among the first to used his mother tongue to talk/ teach about stock trading and there is Money Growers who brings a more aesthetically pleasing videos on trading.
In Alex Onze's early videos,
- he talked about plotting trend lines and identifying support and resistance. In an uptrend, he advises buy on support, then at sell on resistance. If you miss selling on the first time the price hit resistance, sell when it is at 50% between support and resistance..In a downtrend, after identifying support and resistance, same technique: buy on support and sell on resistance.
- he demonstrated that in an uptrend, once the supply is almost too much, avoid buying that stock; but in an downtrend, once the price drops so low it becomes a hot stock with tendency to bounce back; buy once initial bounce back is equal or more than 50% as the trend is the price will go higher
He goes on to say that there are 5 chart signals to use
- Stochastic: 0-20%
- RSI: below 30 and uptrend
- MACD: flattening histogram and uptrend
- Volume oscillators: more positive 20-50, the more the price drops; the more negative the price will climb up
- Candlestick/ heikin ashi: candle body almost the same size or falling wedges, there is reversal to downtrend; in rising wedges, the trend is upward
His take on chart timeframe
- daytrader: 1 min to 5 mins chart system or 15-30 min chart system; others employ the 1 min-15 min-30 mins-1 hours then 4 hour chart system in the morning to check if the chart is bullish or bearish
For more about stock trading, Digital Nomad Here.
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