Tutorial 6: WHAT ON EARTH IS CRAZY BOUGHT (LIME)?
Overbought is well known by traders. But, what on earth is "Crazy Bought"? Before, it is hard to explain and let people understand "Crazy Bought". After two days' pump, it should be easier now. Charting by tradingview Source: Crazy Bought is a new term defined in "9 Seasons Rainbow Multiple Time Frames Pattern" Indicator, which is one of the 9 Seasons: Bull (Green), Bull Pullback (Light Green), Resistance / Overbought (Yellow), Crazy Bought (Lime), Neutral (White), Bear (Red) , Bear Bounce (Light Red), Support / Oversold (Blue), Crazy Sold (Fuchsia). Definition: Crazy Bought (Lime): Price is going up in a high volatility , could be a valid breakout, or a Bull Trap. Definition: Resistance / Overbought (Yellow): a resistance area , may become a Top, or be broken through. Evolution of Crazy Bought(Lime): [*]When the resistance is broken through, Resistance / Overbought (Yellow) becomes Crazy Bought (Lime); [*]When the price stays above...