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RE: The chart delusion

in #trading7 years ago

oh absolutely, I kind of gave the impression that it was all bunk and it's not, just that a lot of so called 'experts' are consistently doing it wrong.

I was looking at a whale post the other day and he was claiming that a line that was touched only twice over 3 months ago, from the same direction, made it a 'major support line' and price would bounce off it. What a crock of shit, clearly hasn't got a clue what a support line is or where to draw it.

People were actually writing back 'oh wow, when it gets to that line I'm going to buy'. Really sad :-(

I use technicals to trade all the time (including S&R), so I didn't mean to offend anyone else who genuinely uses them, just the charlatans who are making people lose money with their fake advice.