Tell me how Tech Analysis was supposed to forecast this flash-crash?
- Thread starter crgarcia
- Start date
Plenty of traders got short days before the so called "crash" with longer term resistance failing. They simple rode that set up short till the Monday following the dump. (Swing traders)
On the day of the dump the charts beautifully showed every resistance top as a failed buying opportunity to short the bad boys. This was clear to those of use watching the DOW, NASDAQ, S&P, Russell, S&P Midcap & the Q's. (Intraday traders)
Of course you can't read a chart so . . . you post ignorant rants like the one above.
On the day of the dump the charts beautifully showed every resistance top as a failed buying opportunity to short the bad boys. This was clear to those of use watching the DOW, NASDAQ, S&P, Russell, S&P Midcap & the Q's. (Intraday traders)
Of course you can't read a chart so . . . you post ignorant rants like the one above.
lol. Wow. The funny part is that the flash crash resulted from one of the strongest technical levels the US is running on. The flash crash was my most profitable day ever. I was looking for it about a month back and the failure was supposed to take 4 weeks. Instead it took 1 day. Fine with me. I was a bit early but every signal was a green as prof. said in his previous post. Although there were traders who were looking for resistance to hold instead of support to fail (myself).
It was predicted from data 80 years ago. I have the chart to prove it and it's in public domain.
Not only that, but i'm the most risk adverse person you'll meet. 80% of my account short before the crash due to that one level.
Technical analysis can't "predict" a seemingly random event that may affect the markets, i.e. some batsh-t crazy people running a plane into a building. Then again, fundamental analysis can't predict an unpredictable event either.
What we need for the above example is fundamentalist analysis. (sorry couldn't resist that one)
Seriously, what are traders supposed to use? Whether you look at a chart, use an excel spreadsheet for some type of mathematical or statistical analysis, or just eyeball the price and say "GE is up $1 today-it CAN'T go any higher", isn't that all a form of technical analysis?
Does anyone trade without some form or another of technical analysis involved? Or wait, am I logged onto "Elite buy-and-hold Investor"?
What we need for the above example is fundamentalist analysis. (sorry couldn't resist that one)
Seriously, what are traders supposed to use? Whether you look at a chart, use an excel spreadsheet for some type of mathematical or statistical analysis, or just eyeball the price and say "GE is up $1 today-it CAN'T go any higher", isn't that all a form of technical analysis?
Does anyone trade without some form or another of technical analysis involved? Or wait, am I logged onto "Elite buy-and-hold Investor"?
Indeed.
People like to give the impression that they are unique and 'seperate from the pack' and are using superior methods unknown to most.
Fact is, either you're using a form of technical analysis, or you're a long term fundametnals trader.
Technical analysis doesn't predict ANYTHING in the sense that you are using the term "predict", OP (i.e. prediction = determinism). TA gives us conditional probabilities.
why do you guys fall for the OPs shit everytime. He starts numerous threads for the attention and each post justs gets dumber and dumber.
Correctamundo. I always get a laugh when the chuckleheads on the tube make the comment, "TA doesn't work, as it can't predict every top, bottom, and turn in the market".... as though that were valid criteria.
Especially, the word "every"... no joke, they actually say that!