Post by
egaman on Jul 27, 2017 10:56pm
How to read the intraday chart: For dummies!
OK, guys, this will probably be the most informative post I'll ever make on this site.
So, pay careful attention.
1. People often think of the 1day 1 minute chart when they hear the word "intraday". No, what I mean by intraday is the 20-day 5-minute chart like what you see when you click 1m on the QuoteMedia interactive chart on this site.
2. The keyword is institutional patterns. These patterns are what institutions use (ie. the big money). Doesn't matter what instrument you invest in, so long as big money is involved, "institutional chart patterns" will appear on its intraday chart. And it's the same pattern that's recycled over and over again.
3. I'm not going to reveal what those patterns are (cuz it took me a few years to learn them), but here is the biggest clue:
4. Ppl make out star constellations from a bunch of dots in the night sky. There's Leo, and that is Orion, etc. Just use your imagination pinheads, if people can imagine drawings up in the night sky, use the same imagination to see "shapes" and "figures" on the intraday chart!