This chart could be either or...

TheDawn said:
I wouldn't count those tiny tops right after the two huge double-top peaks. To me those tiny tops are not strong enough as reversal points but of course anything can happen.

Just giving my opinion.
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Nothing wrong with giving opinion. But I prefer to get one from PA.
 
“The biggest mistake a fundamental analyst makes is thinking a stock and a company are the same thing. The biggest mistake a technical analyst makes is thinking they are different.”

- Phil Roth
 
KGTrader4 said:
Look at this chart. Would you call this a double top, or a double bottom? Why?

View attachment 281346
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I wouldn't call it double/triple top/bottom.
the double/triple thing can be a continuation or reversal pattern
and it can't be predicted.

I'd describe AMZN chart as :

AMZN uptrend started in 2009.
now it is moving in the range from 2750 to 3750.
and it has an upside bias.
 
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I was not the one who exposed himself as math and statistics illiterate to everyone on the forum. And now another nonsense comment and random wiggly lines that is called, what was it, right, technical analysis. So again you refuse to take a stance? Just that it's a triple top based on 3 randomly picked candlesticks. Lol. The same randomness you applied to your correlation claims.

SunTrader said:
Duh look at the chart. It already did go down.

Skin in the game so says the I haven't got a Yen position yet.
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As if anyone who pays attention to fundamentals jumps head over heels into a trade. The most moronic thing in investing and trading is to look at some past candlesticks on a chart and to believe they have any bearing on the future, while basically denying fundamental analysis which includes the accounting for fundamental shifts in all variables that affect an asset. Apparently you rather bet the farm on the past 100 candlesticks than company specific news and shifts in factors that directly affect the valuation. Or broker up and downgrades. Or wars. Or interest rate shifts. Or what the broad market does.

Such mindset is the only one moronic here...

SunTrader said:
“The biggest mistake a fundamental analyst makes is thinking a stock and a company are the same thing. The biggest mistake a technical analyst makes is thinking they are different.”

- Phil Roth
More...
 
M.W. said:
As if anyone who pays attention to fundamentals jumps head over heels into a trade. The most moronic thing in investing and trading is to look at some past candlesticks on a chart and to believe they have any bearing on the future, while basically denying fundamental analysis which includes the accounting for fundamental shifts in all variables that affect an asset. Apparently you rather bet the farm on the past 100 candlesticks than company specific news and shifts in factors that directly affect the valuation. Or broker up and downgrades. Or wars. Or interest rate shifts. Or what the broad market does.

Such mindset is the only one moronic here...
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More more more!
This linked thread needs the touch of a vocal fundamentalist.
Head's up! School's in session.

What Is Fundamental Analysis? Temp Thread Toward of a Future Section On This Essential Topic.
https://www.elitetrader.com/et/thre...uture-section-on-this-essential-topic.344493/
 
M.W. said:
That's the beauty about technical analysis, you can interpret it any way you like and always justify your losses to your wife and kids whose educational fund you slaughtered and blame it on the candle chart. Technical analysis is shit but let all the technical analysis gurus on this forum help you out...
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Don't entirely agree, but this post is funny AF. :)
 
The important part is to note that it's back in a trading range - not the double top./bottom thing. You can get in if you like, but it's still in a battle between bulls and bears. Until it chooses a direction (breakout/down), expect to get whipped around.

Having said that, it looks like accumulation. That doesn't mean it is, as bear hooks are thing.
 
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