Over the long term, the Market will follow/discount Earnings and Economics.
I'm intentionally annoying all "Price TA" doubters with this post.. :)
- Thread starter Scataphagos
- Start date
Well, yes.. but ET is a "trading" forum. Long term is outside of the perspective.
You don't have to "anticipate" support/resistance. You just see it, play it.. on the charts.
More like "what the market did".... is what you are showing.
It has NOTHING to do with TA, PA, or green eggs and ham. It has to do with being able to work in real time because, simply no one has a time machine. It is not like some SciFi movie with a watch that takes you back in time 2 minutes.
If you want to espouse the merits of TA, then please do it properly.
All this armchair stuff makes all the TA seem like BS. And frankly, even the idiots on Youtube respond to the basic criticism (Realtime versus after the fact), with showing live. Then they usually do very poorly, especially wrt their after the fact trading.
BTW: I have several good strats based on TA. It has its uses.
Aloha Scataphagos,
Thanks for always sharing. hindsight? maybe, maybe not. I had this line drawn in yesterday but dont wake up until about 12:00 EST, so not a trade of mine. Let the haters hate
As far as the charts go... we don't know anything for sure.. only the probabilty/possibility. That is, EVERYTHING IS KNOWN ONLY IN HINDSIGHT. That hindsight may possibly be measured in as little as tics or seconds.
I've posted before... "Here's support/resistance. Watch to see if market gets there and what subsequently happens". Is that also "hindsight"? And regardless of the resolution, is there a lesson value?