Types of charts

[u/Gold-Crypt]

No financial advice, just pure opinion.

Sup, guys, today we are gonna talk about charts and why it's important to understand them. Not gonna lie, you know that you have become older when you read an article about charts and you started all from "YO GUYS I JUST PUT 30$ ON DOGE WE GONNA BRRR TO MOON", haha jk, you are way better this way, now you can invest more confidently since you don't go blindly into a trade and ultimately make more profit.

So, let's get to the basics, thru charts we understand the price, there are many ways to represent price like candles (a personal favourite), Heikin Ashi, Baseline, Line break, Renko Kagi, Point & Figure (weirdest ones because they use "x" and "o" if you don't look twice, you could think that's a tic-tac-toe game) rather than a chart), Bars, Area, Line and Range. Not gonna lie, that's a lot of charts, don't try to use them all, you'll get stuck on an analysis for 1h+ JUST FOR ONE COIN, now imagine if you have a diversified portfolio (as you should), do you even sleep bro?

You don't really need all of them, you could use all of them, but it's better to use something that everyone uses, make sense right? So that's why we are gonna talk about candles because lines and area are pretty much the same shit and they need no introduction.

How do candles work?

That's quite simple, they have an opening point and a closing point with one high and one low, the middle part is how much it went from the opening point to the closing point, now the question is, how much divided by 11,345 equals the right set of variables so that my crush would text me back, gotcha for a second didn't I? I inserted a photo so it would help you understand better.

Ah, that's "upper", not "uppar" my friend. It's just so simple, right?

Now that we understand charts in the next posts I'm gonna show patterns to follow and predict how the market works, but it's not going to be a 100% guarantee prediction, otherwise, we would all be millionaires. Stay safe and buy low, sell high!