"The Technical analyst"

Hi I would like to answer your question in very simple language and you will know how to use fibonacci retracement and important levels to watch in this tool. It is very important tool to analyse the market and any market wether crypto, stock, forex , commodity , futures respects fibonacci levels. Fibonacci tools can be used in uptrend and downtrend market to know the next upside or downside price levels by confirming from the fibonacci levels. Using fibonacci in uptrend market As we know market always moves in waves. We use fibonacci in uptrend after first wave to take entry in second correcting wave. We have to pick lowest price level of first wave and highest price level of second wave to apply fibonacci as you can see in image. Price always retraces to one of three golden fibonacci levels 38.2% , 50% and 60%. In this example, price exactly retraces 50% level i.e. 5671$ and bounce back upto higher of last wave price 6900$. If it would break the 6900$ then there was possibilty price ...

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. Oftentimes, traders watch for a move below the lower support trend line because it suggests that the downward momentum is building and a breakdown is imminent. Once the breakdown occurs, traders enter into short positions and aggressively help push the price of the asset even lower. 

Ahead and shoulder pattern is a trend reversal pattern which is used to identify the trend reversal. The pattern occurs usually after an uptrend in case of head and shoulder top pattern and vice versa for a downtrend. The patter consists of two shoulders each one side of the head. The formation looks like a left shoulder, a head and another shoulder on right side Left shoulder: After an uptrend, the price of the stock starts declining up to a certain point known a neckline Head: From the neckline point the price again starts moving in the uptrend and this time the trend will much higher than the first (left) shoulder. After reaching a peak the price again starts declining to the neckline. Right Shoulder: From the neckline, the price again starts moving in the uptrend but this time the price moves almost or equally to the height of the first (left) shoulder. After reaching a peak the price again starts declining to the neckline. Reversal: After the formation of the head and shoulder pat...

it is a chart pattern where in price is making higher lows and consolidating in a triangular range to breakout, price cannot stay in very confined range forever and it has to breakout to move higher, in this pattern noticeable thing is price hits the same highs many times but fails, but the failure is important, every time it fails it will not break below the previous lows, suggesting that buyers are accumulating price. so positive sign and when it breaks out it will give it will give almost equal quantity of the widest part of the triangle, so congestion will lead to expansion. I think every trader should understand the price behaviour so that they can decipher the meaning of any breakouts,