Guys, looking at this PIPPIN chart makes me laugh and cry at the same time. The green, red, purple, and yellow lines are crisscrossing all over, it looks like we’re playing tic-tac-toe on the screen, right? But wait, don’t laugh too soon. This mess is actually something interesting to examine.
You see, the price keeps fluctuating, going up and down around these lines. There are sections where it pierces through like a missile, while there are sections that get stuck firmly. Every time the candle seems like it’s about to cross some "forbidden zone," it gets pulled back. Those who are observant might notice that these green lines are playing a significant role as resistance, while the yellow and purple lines lean towards support.
But the important thing is that you have to pay attention to how the price reacts to each line. Sometimes it touches the green line and then bounces down, other times it decisively breaks through and continues on. This is the law of supply and demand, not a joke. We should keep an eye on when this "wall" is decisively broken before making a decision. Don't jump in to catch a falling knife or chase peaks impulsively, be patient and observe carefully, everything has its reason. Consider this as basic lessons on how to read the market's "language."
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