If you haven't read @netuoso version of technical analysis yet, you should check it out now. It's the most solid interpretation I have read in years. You can find it HERE.
It's clear to me that you're either biased or ignorant on this topic.
At first glance, TA might look like a lot of attempts at practicing voodoo on price or simply letting one's own inner child out to play around with crayons on a price chart, but I assure you there's ample data to prove to a high degree of certainty (as the sample pool is rather large at this point in time) that it's not all bogus.
There are favorable odds attached to trading certain re-occurring patterns within the markets (eg "ascending triangles", "falling wedges", etc), when using their traditional trading rules. They only work out to somewhere between 55 and 60% favorable, but that is actually quite significant when compared to simply tossing a coin and choosing whether to take a trade or not based on the outcome.
Theories as to why these patterns play out? They're abound. It seems reasonable to me that human psychology isn't completely random. Assuming that's true, humans can't react randomly to price -- there should be at least a little bit of predictability in how each individual and, therefore, the market, reacts to any given set of circumstances. If that's true, then real patterns will play out based on their reactions. That's what we see when we analyze price charts.
i often check heajin posts and astrology charts.
both are accurate.
It's clear to me that you're either biased or ignorant on this topic.
At first glance, TA might look like a lot of attempts at practicing voodoo on price or simply letting one's own inner child out to play around with crayons on a price chart, but I assure you there's ample data to prove to a high degree of certainty (as the sample pool is rather large at this point in time) that it's not all bogus.
There are favorable odds attached to trading certain re-occurring patterns within the markets (eg "ascending triangles", "falling wedges", etc), when using their traditional trading rules. They only work out to somewhere between 55 and 60% favorable, but that is actually quite significant when compared to simply tossing a coin and choosing whether to take a trade or not based on the outcome.
Theories as to why these patterns play out? They're abound. It seems reasonable to me that human psychology isn't completely random. Assuming that's true, humans can't react randomly to price -- there should be at least a little bit of predictability in how each individual and, therefore, the market, reacts to any given set of circumstances. If that's true, then real patterns will play out based on their reactions. That's what we see when we analyze price charts.
You're a funny guy @introvertspeaks, but you're a lousy troll ;)
I guess it comes down to one simple concept here: you have one opinion, I another.
Best of luck to you.