technical analysis quote from Top Trader book

Darc said:
So COVID and the subsequent injection of Liquidity in the Markets was already in your "chart cycle".

So Elon Musk's successful production/marketing of Teslas was already in your "chart cycle"?
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Yes. Bitcoin was already showing that it could reach a low of 14k-18k 6 months before the ftx scandal broke to subsequently drop to those levels. It wasn't a matter of IF it would reach those levels, just a matter of WHAT would be the catalyst.
 
wxytrader said:
Price is determined to complete the pattern. It doesn't matter what the results of the ER is...its the accumulation phase. You guys need to expand your knowledge and not focus on day trading or trying to cash in on high IV...it will all even out in the end.

Find the determinism of the market and align yourself with it.
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Well that's totally different from what you have been saying earlier ...
You literally said it's predefined by the chart and the chart should be able to predict moves from earnings, so go on then, predict it ...

It's obvious that an earnings report tomorrow will have limited impact on the move that happens in the next 6 to 12 months, but that wasn't the question and that wasn't what you said in the first place.
 
wxytrader said:
Yes. Bitcoin was already showing that it could reach a low of 14k-18k 6 months before the ftx scandal broke to subsequently drop to those levels. It wasn't a matter of IF it would reach those levels, just a matter of WHAT would be the catalyst.
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I think you're one step away from Crazy.

But thanks for the answer.
 
wxytrader said:
Nothing. Nada. The stock price is completely determined to run in cycles and the news, earnings, government regulations will all facilitate that determinism.

These cycles are baked into the chart.
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Tell that to the guys who were short cocoa based on technicals ;).
There isn't one technical pattern that predicted this extreme move and it's completely based on fundamentals.
 
p0box4 said:
Well that's totally different from what you have been saying earlier ...
You literally said it's predefined by the chart and the chart should be able to predict moves from earnings, so go on then, predict it ...

It's obvious that an earnings report tomorrow will have limited impact on the move that happens in the next 6 to 12 months, but that wasn't the question and that wasn't what you said in the first place.
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Well you can extrapolate using various methods to ascertain whether this ER needs to be a miss or not. I see the price completing the C&H so at some point they are going to need a catalyst. :)
 
wxytrader said:
Well you can extrapolate using various methods to ascertain whether this ER needs to be a miss or not. I see the price completing the C&H so at some point they are going to need a catalyst. :)
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Still not an answer ...
 
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