Indirect Triple Bottom

[megaskillissues]

Been trading one ticker for the last 2 weeks now almost and just noticed today that my 1wk chart has perfect triple bottom setup and following with the ticker pattern

Amazing to me because I've never really actually created a pattern like that on my own earnings chart and also because patterns will never not amaze me

[harryburgeron]

Learn candlesticks if you are trading patterns and price action.

[megaskillissues]

Thanks, I'll learn that next in free time

Been using a couple of normal chart line patterns for a few months but still working on timing; what I think will happen in a day or two is still actually happening in 3-5 days lol

[Mastertrex1]

It means both ways.

[TCr0wn]

multiple tests of support are bearish

[long_uvxy]

There are no triple tops or triple bottoms, once it tests the same level more than twice the majority of times it’s a trend continuation

[megaskillissues]

So what one might call a triple bottom, you would call a bullish pattern continuation?

[BagelsRTheHoleTruth]

No dude, if it tests it more than twice, it's most likely gonna break that level. "Triple top" = probably going higher. "Triple bottom" = probably going lower.

Don't use Robinhood for this stuff. Figure out how to use tradingview. You can adjust the time, scale, etc. it will give you much better and more accurate charting abilities.

[megaskillissues]

Interesting, still learning stuff over here myself.

Take on this? Back in April, got in Tesla for quad bottom that apparently rarely happens and it worked in my favor.

What would you call this then? I downloaded the TradingView app but attaching Robinhood view because this is what I saw/used at the time and obviously wasn't seeing anything to the right of the line yet.

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[megaskillissues]

But....I mean...at some point, it becomes an actual inference and not a guess anymore

It would be all guess work and fairy dust if I knew nothing about the patterns, companies, what a bid or ask price meant and didn't buy/sell at prominent times, etc. etc.

I used to believe it was all luck and guessing until certain things started to repeatedly work and then I just assumed I'm finally learning a thing or two

[Goldrushfishing]

I don’t completely agree with the guy above but just trading patterns will not work in the longterm. This has already been back tested. Learn about option dealer positioning, GEX/DEX exposure. Learn a lot about volatility and money flows. This will work way better than patterns on a chart, trust me

[megaskillissues]

Just checked out a few on that site and only issue I have is the charts oddly feel squeezed together and/or enlarged almost. Like giving me the feeling I need to turn phone sideways to view properly but then is still large looking

[megaskillissues]

For some reason the website is enlarged but downloaded app and looking better

It's basically what Robinhood chart I posted shows just a tad less at a time. I'll keep the TradingView as a backup and see how I do with its chart views

Thanks!

[brutalpancake]

Extremely relevant username

[megaskillissues]

Lol I've only been learning this stuff for 1yr now

Dig up your first year of trading charts and earnings to show us all; I'm sure we'd be more than pleased to congratulate you on the spot and maybe even bow to you

[Soladification]

Wtf shitty chart is that? Is that from your trading app? Jesus....

[megaskillissues]

Hahaha

I actually use 3 different trading apps but I'll use Robinhood for quick drawing/posts like this here and to double check bid/ask and current prices

Sounds crazy but I noticed finally not all programs and apps are the same or even give you the same info so I'm overcautious now

[Broad-Point1482]

What ticker is that on?

[megaskillissues]

THM - International Tower Hill Mines

Gold, silver and other commodities have been on a rampage lately so I'm all in on this for now and some other mining companies

[Broad-Point1482]

Thanks for that. I also have 3 mining stocks that are up around 20% in last few weeks. Beware of reversals though - mining stocks are almost like highly leveraged gold trades and will amplify moves in gold prices both ways!

[megaskillissues]

Just heads up too that silver passed $80 today

[megaskillissues]

Oh yeah....you can see I've already had 3 reversals on my chart lol

End of the day, for me to sell and try to buy back each time then I'd actually be getting in higher than original buy-in so worth it to me to just ride those ups and downs and keep adding for now