Do You See What I See?

Beginner Questions
1

We read all of these books and information on trendlines, support and resistance, and other aspects of trading. How do we know we are interpreting these things correct unless we have others review what we think we see? I would just like some people to look at the following chart and tell me what you think about the interpretations I have placed on there. I have kept it fairly simply in an attempt to build a foundation to possible build on.

1.) Was I correct/incorrect in the placements of trend lines, and support and resistance?
2.) Am I correct about the Divergence that I am seeing in the Stochastic and the MACD?

The purple MA is a 14EMA; The aqua horizontal line is one that served as a past resistance and current support.

Hoping to spark some conversation as to what people see and if other people have questions related specifically to this chart please ask.

Thanks

2

well ill start by saying get rid of those indicators on the bottom they are useless… then i will say it looks like u only have one level of trendlines and u are missing the profitable segments. the main trendline then the internal trendlines. Notice how it hits three times to confirm on the white… u r in a uptrend entrance off the third is wat u want best entry usually after the confirmation of the main trend price will create internal trendlines… thats why price wont come back to the main one until until abotu 2/3 or 3/4 of the way through the trend u miss the big part of it… once price is back to that main trendline it wont break right away but the retesting will become more frequent … and frequent checks usually indicate break.

3

I see it like this :slight_smile:

4

? like this?

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