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Danny cheng
@dannycheng2022
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Tsla, pltr and nvdia investor. I use my homily charts for investing. Not financial advice. Tesla car owner, piano self learner. Don’t follow me as I’m stupid.
Hong Kong
Joined August 2022
How to read my charts more accurately? Box 1/Panel 1: Candle patterns 1. Red candle----a bullish signal, hinting that there is an uptrend in the shorter term. 2. Yellow candle---a bearish signal, implying that there is a downtrend in a shorter term. 3. Dark blue candle--the uptrend persists 4. Light blue candle---the downtrend persists 5. Red ribbon---uptrend in the middle term 6. Blue ribbon---downtrend in the middle term Even a red ribbon or blue ribbon has both red candles and yellow candles. Box 2/Panel 2: Technical expert. It is a mimic of Panel 1. 1. Green bar refers to bearish sentiment whereas red bar refers to bullish sentiment. 2. Purple line refers to the midterm uptrend line whereas the green line refers to the midterm downtrend line. Box 3/Panel 3: Whale accumulation/distribution patterns vs Retail accumulation 1. Whales (red bars) need to reach 50 %for the stock to run and 75 % to surge. 2. Whales can both accumulate and distribute. The longer the red bars, the more the whales—a bullish trend The shorter the red bars, the less the whales—less bullish, as whales might be shaking out weaker hands or distributing, depending on the price actions. 3. Retail investors (green bars). For a stock to run, green bars need to disappear. The longer the green bars, the more likely the stock is going to drop/plummet. 4 .When seeing a decrease in the percentage of retail accumulation over the past few days, weeks or months, it can also be a reliable signal that the stock is bottoming out. 5. Yellow bars are daily traders, which we don’t need to care. Box 4/Panel 4: MACD (Moving Average Convergence Divergence) 1. When the MACD is below zero, the price is usually in a downward trend (bearish momentum) 2. When the MACD is above zero, the price is usually in an uptrend (bullish divergence) 3. The golden cross (fast and slow line crossing each other) curls to the upside, a bullish signal. 4. The golden cross curls to the downside, a bearish signal. Box 5/Panel 5: RSI (Relative Strength Index) 1. RSI around 20-30 is oversold and it may be a buy indicator whereas RSI above 80-95 is usually a sell signal. 2. I like to use 3 sets of RSI and compare the previous lows as a signal to predict the bottom price. When 3 sets of RSI curl up, it’s usually bullish and vice versa. For those of you who like to know more, you can just click the following video that Dr Cat @cryptocantoncat invited me to share. or in which Matt @matthughes13 and I shared some tips on how to read my charts as well. For those who would like to view more daily charts (at least 4-5 a day) with my (TA) technical analysis for free, you can join my patreon. For those who wish to view as many as 50 charts with my TA a day and understand more in depth, please subscribe it.
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@roaringwisdom Among the 6 accounts I have, I use leverage in 2. I don't play options as I have seen so many lose money eventually.
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@potatokmish @sheslee @Yuchenc03794228 @vintagelee23 @Brandon13681370 @Tesla @PalantirTech Are you heavy in PLTR now? Brilliant move when most retail investors are skeptical.
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@potatokmish @sheslee @Yuchenc03794228 @vintagelee23 @Brandon13681370 @Tesla @PalantirTech At what price?
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@yewie115 @sheslee @nebhol89 @Muhammad1033902 @ONeilRatto @cantonmeow Well-said. The market is always for the well prepared with vision and guts.
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@cantonmeow @nebhol89 @Muhammad1033902 @sheslee @ONeilRatto The former is appearance or physique while the latter is wisdom.
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@sheslee @Yuchenc03794228 @vintagelee23 @Brandon13681370 @Tesla @PalantirTech That’s retail sentiment.
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@sheslee @vintagelee23 @Brandon13681370 I just added your whatApps. Tks again for supporting me on my patreon.
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@sheslee @Yuchenc03794228 @vintagelee23 @Brandon13681370 @Tesla @PalantirTech I talked to so many retail and few have the guts to buy after $110. Some are waiting for $80-$98 while the majority are waiting for $50 to $80.
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@great_martis Let whales decide and if so, I will be buying aggressively. But I guess that the possibility is very slim.
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