Another "Price TA" play... (TA haters ain't gonna like this one)

wxytrader said:
Doesn't take ta haters to hate on ta like that. You would have no idea where the bottom line support would have been until the last touch and retrace... So this channel didn't exist until it was over... it didn't really exist before it was over either.
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Let's break this down into real time. :)


Where are the support/resistance lines going?

upload_2024-8-29_14-5-7.png





Where is the support line going?

upload_2024-8-29_14-5-40.png





This is probably the earliest you could identify the parameters of the channel. So traders pile on thinking to short the top lol

upload_2024-8-29_14-8-4.png





Just to get stopped out for a loss lol.

upload_2024-8-29_14-7-22.png
 
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schizo said:
Darc, you need to call the crisis hotline. Hanging out with these weirdos (Padu and scat) definitely screwed up your already messed up head.
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You've been added to the list of people who just can't quite see the Genius of ET's resident Geniuses.
 
wxytrader said:
Let's break this down into real time. :)


Where are the support/resistance lines going?

View attachment 347773




Where is the support line going?

View attachment 347774




This is probably the earliest you could identify the parameters of the channel. So traders pile on thinking to short the top lol

View attachment 347777




Just to get stopped out for a loss lol.

View attachment 347776
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He's talking about the horizontal Resistance level, the yellow line. The blue Trend and Channel lines have you confused.
 
Darc said:
He's talking about the horizontal Resistance level, the yellow line. The blue Trend and Channel lines have you confused.
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Same problem. It is completely arbitrary. You could have placed it at each level here and each time it either failed to hold or failed to retest.

upload_2024-8-29_15-27-30.png
 
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