No, I didn't say it was cr*p. and no, I didn't say it doesn't work.
It's merely a crutch which is a helpful - at times indispensable - support in the right hands.
TA is a visual representation of what the market is doing. Green bars indicate upward movement and red bars indicate downward movement.
Many who trade successfully and unsuccessfully with TA talk about price bouncing off support lines, respecting certain moving averages, tagging previous resistance, retracing to magical Fibonacci lines. They talk in hushed tones about Gann angles, Market profile, price action, important pivots, time cycles et al. They write books and sell courses about the secret geometry of the markets because everyone needs reasons.
And the market laughs. It neither rises nor falls because of any of these reasons just like rain doesn't fall because of dark clouds.
Dark clouds certainly signify rain. They are a good indicator and a prudent person would probably grab an umbrella. However rain has never fallen because of dark clouds. Never in a billion years. Rain just falls.
The market does what it does. We can tell stories and paint pictures about it and that is fine. We can make and lose money based on those stories and that is also fine but have you ever wondered what would happen if you threw away the crutch?
Is that the trader's nightmare or his greatest aspiration?
JMO
It's merely a crutch which is a helpful - at times indispensable - support in the right hands.
TA is a visual representation of what the market is doing. Green bars indicate upward movement and red bars indicate downward movement.
Many who trade successfully and unsuccessfully with TA talk about price bouncing off support lines, respecting certain moving averages, tagging previous resistance, retracing to magical Fibonacci lines. They talk in hushed tones about Gann angles, Market profile, price action, important pivots, time cycles et al. They write books and sell courses about the secret geometry of the markets because everyone needs reasons.
And the market laughs. It neither rises nor falls because of any of these reasons just like rain doesn't fall because of dark clouds.
Dark clouds certainly signify rain. They are a good indicator and a prudent person would probably grab an umbrella. However rain has never fallen because of dark clouds. Never in a billion years. Rain just falls.
The market does what it does. We can tell stories and paint pictures about it and that is fine. We can make and lose money based on those stories and that is also fine but have you ever wondered what would happen if you threw away the crutch?
Is that the trader's nightmare or his greatest aspiration?
JMO
