#b90x - DAY 19 - Technical Analysis 101 - Spinning Tops and Doji?

b90x

#1

Spinning tops and Doji are simple candlestick archetypes that are certainly worth knowing about.
They are not only common, but in themselves, tell you a lot about what is happening with price action.

Leave your comments or questions below!


#2

Sometimes I tell myself.
Just invest in BTC and never worry about candle sticks :smiley:
But good to learn new stuff especially from a scientist…
You don’t need to pay 60 year old person to teach you stuff when you can get it for free :smiley:
Btw, your avatar just popped up next to me and took a screenshot of the historical moment.
Peter was sitting next to me chilling in the pub 18/September 2017 :smiley:


#3

I LOVE candles! Thanks for talking about them because it’s always a good review and it’s good to hear different perspectives of what’s going on. When I look at the LTC/USD daily candle charts, I notice that after a top or doji (at least lately) there tends to be a decent move one way or another in the next session or two. When I zoomed in to the hourly charts, I saw that in a downtrend, the doji or top that showed up during the upward corrections signaled a return to the downtrend in the very next candle. Interesting patterns! #B90X


#4

sitting next to the DOGE is always a good thing.


#5

Seems like great little checkpoints to have a breather on bitcoin at least. Do you think it is clever to change up the session times for different “news” in the crypto space? I have seen Neo being stuck and also moving very quickly and creating these patterns on 5 minute sessions aswell which I have used to make some quick trades.


#6

Thanks ! Love the tutorials !
I don’t understand why does the candle’s close position not always match with the next candle’s open position, I assume because of someone’s cancelled order ?


#7

yes good question :face_with_raised_eyebrow:


#8

Bitcoin is the most interesting chart to watch :slight_smile:
also checked LTCBTC, there some periods with a lot of dojis/spinning tops in a row and the shadows are bigger in general
I think the session length for altcoins should be longer in order to see the patterns


#9

There is wisdom in increasing session length for alts if you’re looking long term. It’s an interesting market out there. For swings, you zoom in. :slight_smile:


#10

Thanks peter great video, recently I have been learning different technically analysis because I think I have been slightly ignorant to it being a long term holder and I think I want to try my hand at trading with about 5% of my portfolio. I am going to a local bitcoin meetup in my town tomorrow, I have never been to one so I will see what happens. I will be giving the bitcoin pub a mention hopefully recruit some new members.


#11

Please take pictures and put a sharpie to a hated t-shirt and write: JOIN THEBITCOIN.PUB!
kthxbye.


#12

Haha I might just do that. We need those t shirts and swag available asap, I would wear it with pride.


#13

Just don’t let me buy any bumper stickers because if anyone seen them on my car they ain’t going to be visiting the bitcoin pub :joy::rofl:


#14

Spinning tops & Doji… i can only think of at the moment the dooge spinning a spinning top lols.
I will do a decent effort into this though. The advice on watching the next 3 sessions following either a spinning top or doji makes good sense! :v:t4:


#15

YEAARGH… take care of those candles lest ye burn yer ship down…


#16

Looking at 1D candles for Syscoin, spinning tops and Doji’s seem to come in pairs or threes before a trend reversal occurs.

I’m using 1D candles as I’m assuming (possibly incorrectly) that there is more data in each candle and they are therefore more reliable. Would love to hear your thoughts on Syscoin and other LN coins Peter (e.g. DGB, NAV, etc), I’m excited about atomic swaps and bullish on LN coins.

Keep up the great work DogeLord! Really enjoyed the first 10 challenges, lost a bit of interest in challenges 11-17 as I’d already done most of it, but starting to get more value again :slight_smile:


#17

I pulled up the 4 hr charts for ADA and noticed that when there is a lot of price action, I am seeing an average of 2 dojis/spinning tops before movement. In times of lower price movement, I am seeing 3-4. Thanks for the insight. It is interesting that each of these coins has their own trading personality.
Edit to add in screenshot:


#18

Looked at some history, and yes I could find periods that matched the narrative, but could this be confirmation bias? There were plenty of periods that didn’t appear to match the predicted behaviour…

However, I fully expect to revisit all these great lessons, much appreciated!


#19

It’s amazing how many indicators there are, I am still learning how to incorporate them into the decision making process.


#20

Lately I’m been trading PAC in Yobit. For a few days you could notice that after a Doji or Spinning Top the price would be very low in the morning and in the afternoon it would get up.