Quote from taowave:
...When I dispute the validity of trendlines,I am soley referring to the penetration/support as Entry signals (or reversals)"in a vacum"
I find it absurd when someone posts a chart and says "when you understand why this trendline break was telling,you will know all"..Or an analogy to guns..Or some other mystical voodoo..Is complete BS...
I too don't like that either when traders use TA and say or imply it's the only thing that's needed...
Minimizing the importance of all those other variables I mentioned earlier.
It's stuff like that will usually bring out the worst type of TA bashers...
Especially the ones that approached TA in the past via the same type of manner as if TA was the only thing that mattered.
That type of chart posting and commentary is just hyping in my opinion and sends the wrong message to newbie traders that TA is the most important variable involved in profitable trading.
In my opinion, TA (as in the entry signal) is not the most important variable in profitable trading over the long haul as in year after year after year.
TA is a useful tool among all the other tools...
Part of the team effort among the different tools sort'uv speak.
Mark