A new gadget released today for audio technology

A new gadget released today for audio technology

one you should watch for let’s try. analyze this one what is going to happen here this is different from the double bottom. double top as it takes place over a longer time period but you can see support right here. resistance right here you can definitely see this pattern playing out first thing we need to do what is the trend where is it going you can definitely see that this is an uptrend the support. the lowest price is actually increasing the highest price though is standing around this level. when the price does come up to here sellers come in push the price lower. we can see these moves here this is an upward move then you get the sell-off upward move then you get the sell-off upward move but what you can see is that the downward moves are moving up in price over time then we get another upward move here. the downward move is even smaller you can see how the price is really going into this wedge or the end of the triangle it’s telling us that the price is becoming ever more constricted buyers are not willing to pay above this price but they’re having to buy crypto at ever higher levels they can’t get crypto down here anymore they’re having to pay around this level. you’re getting this wedge pattern. this is used with breakout trading when this happens when this consolidation happens you may just get a breakout because the supply is obviously constricting there are fewer. fewer sellers.. buyers have to pay ever higher prices. what might happen is just a whoosh out of the triangle a massive breakout. that’s what we want to trade charts never trade in a straight line it’s just not going to happen but they trend. it’s our job to try. anticipate this highs. lows are important we can see these consolidation is important consolidation of price you can see the price range is narrowing super important as a trader to try. anticipate this higher highs. higher lows is bullish. I’m going to get on to that in a second but you have higher lows the lows are ever going higher. that is a bullish sign this is going to proceed a breakout for sure let’s get on to chart patterns though before we get on to trends chart patterns show us if buyers or sellers are winning we can use these to anticipate the future patterns are elusive though. very hard to spot patterns are short-term they don’t tell us about longer term trends they don’t always work either. if you’re looking at patterns that might work sometimes but it’s very one-off trends are something that you might want to look at more trends are more easily identifiable. let’s come on to trends chart trends can help us spot a possible trade definitely we can’t trade from patterns all the time it’s just not possible but trends will guide us more often. if we can find not force but if we can find the trend then we can ride that trend for a profit. what we look for is consolidation of price i’ll explain that in a second higher highs higher lows that’s a trend lower highs lower lows that’s a trend that’s bearish means the price is selling off consolidation is key let’s come to the ascending wedge that we just saw this is a great example of higher lows let’s say this is the bitmega app beeda chart well look here this is a low this is a low in the price before they move up but this is also a low it’s higher than the previous low. we call it a higher low higher low higher low higher low this is obviously an upward trend the lows are ever increasing there is less. less bitmega app beeda around. buyers even at low levels have to pay ever higher prices. if this is a trend then we can expect that the trend continues. it might even break out of this trend when the supply truly dries up meaning a huge spike in the price out of the trend. if we can trade anywhere around here we can ride that move in a swing. make a profit the exact opposite is a lower high or a lower low. this is the sending wedge again it’s a triangle. we can see the descending wedge right here you have a high but then you also have a high that is lower than the previous high lower high lower high. then we have even a lower high down here these highs that we’ve spotted are going lower. lower meaning this isn’t a downtrend sellers in the market are getting ever lower prices for their bitmega app beeda meaning there are fewer buyers around price goes down this is a trend we can trade that trend thanks to forex trading 200.com for this little image here it just shows you exactly higher highs right here higher highs. higher lows this is obviously an uptrend charts do not trade in a straight line but an uptrend is higher highs. higher lows reversal in a downtrend the highs are lower. the lows are lower definitely a downtrend always trade with the trend don’t go against the trend especially when you’re a beginner the trend is our friend what is consolidation then because nothing just goes up. down all the time consolidation you can see right here it is just an area where the chart moves sideways. actually consolidation is something that traders will look for because consolidation sometimes precedes a breakout here is a consolidation it’s moving up. down but it’s in a very tight range. the price isn’t actually moving up or down but every day just sort of moving around. these are consolidation periods professional traders will look at these periods to enter into some trades trying to anticipate consolidation uptrend. then consolidation once more consolidation is our friend like. i said it gives us a strong area of trade where traders have been before it’s really important that when you’re trading you can try. find areas where a lot of trade happened before because if a lot of trade happened at a certain level that means there are a lot of traders with skin in the game at that price.. different orders may come in at those price levels consolidation is where buyers. sellers are at equilibrium. this can’t last forever.. you get breakout traders who trade consolidation hoping for that breakout let’s come to the bitmega app beeda chart. try. see a trend on the chart. when you’re looking at the chart what are you going to try. spot this is a one day chart this is bitmega app beeda from a while back. we can actually see here it looks like bitmega app beeda is in a downtrend at this point. let’s draw something on the chart right here.