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👋 Hey TradingView Community. Extremely happy to finally be on TradingView sharing our ideas publicly with you all. Let's take a dive into the
NAS100USD
What can we see on this chart? well let's firstly list the tools we used to analyze the chart, this won't be long as we don't use much to determine price predictions and outcomes.
Our Tools:
Now we know what tools we used, what each individual tool does and how it's going to help us in spotting where price will be heading.
Time to look at the three important prices which are 13992.0, 13856.6, 13741.4 now if we look at them from top to bottom so 13992.0 to 13741.4 we can see that price is sitting closest to what? You guessed it 13856.6 which is going to be our IMPORTANT PRICE throughout this tutorial.
Our Price Range displays 333.9 (2.43%) 3339 which if you're a little confused as to what they all mean it's points, percent and pips. Simple right? But here comes the fun part, weren't we saying that previously, we drew with our Path Tool to display where we believe the price will move? Correct, in fact, our Price Range is there for us for two potential positions.
Two Potential Positions:
We'd look for shorting the current price from one of our three plotted prices 13992.0 down to our first target 13856.6 and with a solid eye for detail we're hoping for that second target 13741.4 which would mean a few things for us to note.
A) We were correct for our first position.
B) Price is moving in the direction we anticipated
C) Our horizontal line tools are our targets and indicators of price direction
D) We're following the price to take advantage of multiple positions carefully with a great risk plan
Regardless if we were incorrect about it continuing down to Target 2 in this case, we still would of made a 1% gain.
So now that we've explained the above, what do you think we would do when price hits 13741.4?
Big Tip: our Price Range tool shows the direction of what we do next.
👋 Hey TradingView Community. Extremely happy to finally be on TradingView sharing our ideas publicly with you all. Let's take a dive into the
NAS100USD
What can we see on this chart? well let's firstly list the tools we used to analyze the chart, this won't be long as we don't use much to determine price predictions and outcomes.
Our Tools:
- Horizontal Line Tool - Provides a visual way to mark a important price
- Price Range Tool - Shows the detailed range between two prices in pips, percentage and points
- Path Tool - A self drawn 'path' prediction of where we see price moving.
Now we know what tools we used, what each individual tool does and how it's going to help us in spotting where price will be heading.
Time to look at the three important prices which are 13992.0, 13856.6, 13741.4 now if we look at them from top to bottom so 13992.0 to 13741.4 we can see that price is sitting closest to what? You guessed it 13856.6 which is going to be our IMPORTANT PRICE throughout this tutorial.
Our Price Range displays 333.9 (2.43%) 3339 which if you're a little confused as to what they all mean it's points, percent and pips. Simple right? But here comes the fun part, weren't we saying that previously, we drew with our Path Tool to display where we believe the price will move? Correct, in fact, our Price Range is there for us for two potential positions.
Two Potential Positions:
- Short - 1
- Long - 2
We'd look for shorting the current price from one of our three plotted prices 13992.0 down to our first target 13856.6 and with a solid eye for detail we're hoping for that second target 13741.4 which would mean a few things for us to note.
A) We were correct for our first position.
B) Price is moving in the direction we anticipated
C) Our horizontal line tools are our targets and indicators of price direction
D) We're following the price to take advantage of multiple positions carefully with a great risk plan
Regardless if we were incorrect about it continuing down to Target 2 in this case, we still would of made a 1% gain.
So now that we've explained the above, what do you think we would do when price hits 13741.4?
Big Tip: our Price Range tool shows the direction of what we do next.