Are you good at reading the chart?

[longandshort]

Please take this quiz: https://forms.gle/GiE5LQJDjBnnvjwU7

Rules: it's a 1 min chart. Your goal is to correctly choose the next 1 min bar (higher or lower). Should be very easy as it's binary and you don't have to worry about time.

 

[Laissez Faire]

Even for a pure chartist there's no context provided here to make an educated guess at the next 1-minute bar, so it would be only that: an uneducated guess, i.e., a random outcome.

I'm not sure how many chartists wants to predict the next 1-minute bar anyway.

I'm fairly good at reading charts, but I'm more interested in the general structure of the day (of which there are a few repeatable structures) and how price moves between key levels. I could care less about the next random tick or 1-minute bar, unless it does happen to occur around a key level.

To add more complexity, different markets behave differently. Even within the stock indices there are subtle differences which can make or break a strategy.

 

[Aisone]

7/14, but this is not reading charts, this is just guessing. Imho, if you're trying to read a 1min chart, and all you're looking at is one minute data, muchless just the last few bars in some cases here, you're doing yourself a disservice.

 

[longandshort]

Describe a better binary (simple) test for chart reading. If you need to see all the data through the day to give me an end of day estimate then what exactly is the benefit of reading the chart?

 

[expiated]

Your goal is to correctly choose the next 1 min bar (higher or lower).

I looked, but I didn't see any one-minute bars.

 

[Aisone]

Describe a better binary (simple) test for chart reading. If you need to see all the data through the day to give me an end of day estimate then what exactly is the benefit of reading the chart?

Quantifying trade opportunities that one might make future price predictions off of is not 'binary', so what's the point of trying to dumb it down with a test like this? Anyone that's been trading for a while knows this, and anyone that hasn't needs to know this.

 

[deaddog]

Please take this quiz: https://forms.gle/GiE5LQJDjBnnvjwU7

Rules: it's a 1 min chart. Your goal is to correctly choose the next 1 min bar (higher or lower). Should be very easy as it's binary and you don't have to worry about time.

Are you feeding a troll?

 

[Laissez Faire]

Describe a better binary (simple) test for chart reading. If you need to see all the data through the day to give me an end of day estimate then what exactly is the benefit of reading the chart?

One improvement would be to include the entire prior day for reference.

Also, bars gives you more information than a line chart. One particular trigger I personally like on charts is a spike or tail bar. You won't see those on a line chart.

Regardless, if your purpose is to disprove chart reading it would be difficult to do so when you're removing so much from the tool kit that a good chartist would be using. A random snippet of random data is not what a chartist typically looks at.

 

[longandshort]

I looked, but I didn't see any one-minute bars.

i had to turn it into a line chart because the person requesting it prefers that lol. So 1-min lines.

 

[hilmy83]

Interesting, i would think i get at least 50/50 shot.

I think I've lost all my analysis skills since relying on bot to trade..