Thread by @ThePupOfWallSt

10 Steps To Charting

Every trader has a different process when they chart, in this thread, I go through the steps I follow when looking for the next killer trade.

I use the @TrendSpider platform for my charting process.

1. Time Frames - Start on a higher time frame. Check the monthly if data allows, but the weekly should suffice. Then work your way down the chart time frames.

2. Price History - If you have a stock that has price history, look left. If the price is below past highs, these will be areas of interest to watch.

3. Indicators - I like to check MACD, STOCH, TTM Squeeze, and RSI. Although these are mostly lagging indicators, they can offer some insight into where the stock is, and more importantly, if there are any divergences.

4. Fibonacci - You all know I am a big Fib trader. I look for retracement levels, extension levels, clusters, symmetry, and timing. This is a nice edge to add to your tool belt.

5. Support & Resistance - Knowing your keys levels is a major edge when trading. It will give you insight into when to enter and exit trades depending on your timeframe and trading strategy.

6. Volume and Volume by Price (VbP) - If I am looking at a breakout trade, I want to see volume accompany it. I also look for volume shelves to develop on VbP to see if a potential launch is imminent.

7. Moving averages SMA- If you like simple moving averages, check the 20, 50, 100, 200 SMA's

8. Moving averages EMA - If you like exponential moving averages, check the 5, 8, 21, 34, 55, 89 EMA's

9. AVWAP - I like seeing where the price is relative to my anchored volume-weighted average price lines. My favorite AVWAP's are the gap, swing high, swing low & year to date (YTD).

10. Patterns & Channels - Another edge can be trading patterns and channels. Patterns such as cup & handle, head & shoulders, wedges, and triangles offer very defined setups. You can also play rising and falling channels for a bounce.

I use the @TrendSpider software for my charts. If you want a free trial and 25% off your membership, please use this link & code:

Code: PUP25

link.pupcharts.com/TrendSpider

These are my top 10 ways to approach a chart. Try them out and let me know if you have any questions. My DM's are always open.

❤️ 🐶

You've made it to the end. 👏

Enjoyed this thread?

• Please like each post ❤️
• ReTweet the first post so more people can read the entire thread 🐦
• Sign up for my newsletters ✍🏼

📈 Stock Market Update: bit.ly/3DlZOCc
✍🏼 Personal Writing: bit.ly/3FEqVKW
💣 Atomic Essays: bit.ly/3DjCEfN

I'm Danny Naz. I write, I travel, I tweet and I eat. And I'm hungry for more.

🚢 #Ship30for30 🚢 #PupThread