A trendline is better than a thousand(yea, even ten thousand fundamentals)
- Thread starter wastelands
- Start date
You have a long way to go mister.
you should also post charts where the break of the trendline gives you a false signal.
That is the reason why 90% lost money from trading.
Go try harder.
Go do more research / analysis
A trendline speaks a thousand words.
It also speaks a thousand negative words.
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Discipline is the key. (i.e stop-loss)
A hint on Technical Analysis....
The support/resistance, highs/lows from the PRIOR move are irrelevant... except for the extreme ones.. the bottom and top of the pattern. That is... nothing from the lows of March, 2020... up to the chart highs matter now.... that's all "ancient history". "Why" you ask? It's because the investor psychology during the upswing was entirely different from the psycho during this downswing.
The levels which are important now are the ones which developed during THIS move... from the high/top and this decline.
FWIW...
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Why didn't you post the same chart back in early January 2022 when the price action broke below the trendline or maybe when the price action broke below the trendline a few times and then bounced back up...late December 2021 ???
Also, there are other trendlines that could have been drawn on that chart...
Why is that one particular trendline so spectacular to you ???
wrbtrader
wasnt on the forum