TA is an all encompassing title.
When I draw a trendline on my screen, price neither cares nor acknowledges the fact that this line exist, it is created by a program and show in my computer screen. So when I draw this imaginary line on a chart, why does price respect it? Bounce off it or break and retest it?
Newtonian physics, Euclidean geometry, Dow/Elliott theory, Chaos theory Fractal mathematics the list goes onâ¦â¦ imho, boil it all down, there are certain natural laws or tendencies that repeat themselves in virtually all aspects of existence.
The charts, or price, are nothing more that the psychological cycles of fear and greed being played out by the participants of the markets. Moreover these cycles show themselves to be respective of the natural laws or tendencies mentioned above. Also mankindâs emotional patterns also tend to repeat themselves.
These repetitive cycles and or patterns present us with an opportunity to predict the future direction or levels of price, thus defining a tradable edge on the markets.
In a nutshell, people rarely learn from their mistakes and repeat them over and over again. Our job is to see the herd, in advance, lining up to make the mistakes and positioning ourselves to profit from it.
In the markets, being right or being wrong is immaterial, itâs all about making profit.
When I draw a trendline on my screen, price neither cares nor acknowledges the fact that this line exist, it is created by a program and show in my computer screen. So when I draw this imaginary line on a chart, why does price respect it? Bounce off it or break and retest it?
Newtonian physics, Euclidean geometry, Dow/Elliott theory, Chaos theory Fractal mathematics the list goes onâ¦â¦ imho, boil it all down, there are certain natural laws or tendencies that repeat themselves in virtually all aspects of existence.
The charts, or price, are nothing more that the psychological cycles of fear and greed being played out by the participants of the markets. Moreover these cycles show themselves to be respective of the natural laws or tendencies mentioned above. Also mankindâs emotional patterns also tend to repeat themselves.
These repetitive cycles and or patterns present us with an opportunity to predict the future direction or levels of price, thus defining a tradable edge on the markets.
In a nutshell, people rarely learn from their mistakes and repeat them over and over again. Our job is to see the herd, in advance, lining up to make the mistakes and positioning ourselves to profit from it.
In the markets, being right or being wrong is immaterial, itâs all about making profit.
