{"id":64405,"date":"2022-10-13T12:47:22","date_gmt":"2022-10-13T16:47:22","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64405"},"modified":"2023-08-28T12:53:33","modified_gmt":"2023-08-28T16:53:33","slug":"scott-redler-monthly-charts-technical-analysis","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/10\/13\/scott-redler-monthly-charts-technical-analysis\/","title":{"rendered":"The Power of Monthly Charts in Technical Analysis"},"content":{"rendered":"

In my technical analysis<\/a><\/strong><\/span> and moving averages lessons<\/a><\/strong><\/span>, I typically show daily charts.<\/p>\n

But sometimes it pays to pull back and look at longer time frames, like the monthly.<\/p>\n

This is especially true in a bear market, when daily charts can be full of noise without a clear trend.<\/p>\n

Let's dissect the bust in Meta<\/strong> (META), which is down over 65% from its post-Pandemic highs, using a monthly chart.<\/p>\n

Positions Disclosure: Scott J. Redler is long AAPL, MBIO, PTON, QQQ, SPY, is short PTON calls, SPY calls, SPY puts<\/em><\/p>\n

Here's the naked chart:<\/p>\n

\"\"<\/p>\n

Now let's break the monthly chart down step-by-step.<\/p>\n

(A): It started with the $384 top set in August 2021, marked with the “A” on the chart:<\/p>\n

\"\"<\/p>\n

(B): META fell to $344 to confirm the false breakout, and to have us on our toes for more downside.<\/p>\n

\"\"<\/p>\n

(C): META then lost the 8 and 21 month moving averages as the stock blew threw support and free-falled. Remember, each bar on this chart represents a month, so traders had plenty of chances to just book the loss and avoid more damage on the way down.<\/p>\n

\"\"<\/p>\n

(D): Next, META broke below a bear flag $190, giving us yet another sell signal.<\/p>\n

\"\"<\/p>\n

(E): Meta breaks through $154 support to approach key levels at $123 and $113.55.<\/p>\n

\"\"<\/p>\n

The lesson here is simple: watch longer time frames, especially during a bear market. Sometimes, they can clarify things in a way daily charts can't.<\/p>\n","protected":false},"excerpt":{"rendered":"

In my technical analysis and moving averages lessons, I typically show daily charts. But sometimes it pays to pull back and look at longer time frames, like the monthly. This is especially true in a bear market, when daily charts can be full of noise without a clear trend. Let’s dissect the bust in Meta (META), which is down over 65% from its post-Pandemic highs, using a monthly chart. Positions Disclosure: Scott J. Redler is long AAPL, MBIO, PTON, QQQ, SPY, is short PTON calls, SPY calls, SPY puts Here’s the naked chart: Now let’s break the monthly chart down step-by-step. (A): It started with the $384 top set in August 2021, marked with the “A” on the chart: (B): META fell to $344 to confirm the false breakout, and to have us on our toes for more downside. (C): META then lost the 8 and 21 month moving averages as the stock blew threw support and free-falled. Remember, each bar on this chart represents a month, so traders had plenty of chances to just book the loss and avoid more damage on the way down. (D): Next, META broke below a bear flag $190, giving us yet another sell signal. (E): Meta breaks through $154 support to approach key levels at $123 and $113.55. The lesson here is simple: watch longer time frames, especially during a bear market. Sometimes, they can clarify things in a way daily charts can’t.<\/p>\n","protected":false},"author":4,"featured_media":64429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[],"class_list":["post-64405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-scott-redler"],"yoast_head":"\nThe Power of Monthly Charts in Technical Analysis - T3 Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.t3live.com\/2022\/10\/13\/scott-redler-monthly-charts-technical-analysis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Power of Monthly Charts in Technical Analysis - T3 Live\" \/>\n<meta property=\"og:description\" content=\"In my technical analysis and moving averages lessons, I typically show daily charts. But sometimes it pays to pull back and look at longer time frames, like the monthly. This is especially true in a bear market, when daily charts can be full of noise without a clear trend. Let's dissect the bust in Meta (META), which is down over 65% from its post-Pandemic highs, using a monthly chart. Positions Disclosure: Scott J. Redler is long AAPL, MBIO, PTON, QQQ, SPY, is short PTON calls, SPY calls, SPY puts Here's the naked chart: Now let's break the monthly chart down step-by-step. (A): It started with the $384 top set in August 2021, marked with the “A” on the chart: (B): META fell to $344 to confirm the false breakout, and to have us on our toes for more downside. (C): META then lost the 8 and 21 month moving averages as the stock blew threw support and free-falled. Remember, each bar on this chart represents a month, so traders had plenty of chances to just book the loss and avoid more damage on the way down. 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