Complete speculation, use at your own risk.
My TA is derived purely from experience in watching price action in the market.
Nothing is guaranteed when it comes to TA.
This is why i always try to come up with a bullish and bearish expectation.
My TA is more than trend lines, but due to congestion on the chart and ease of interpretation much of it is left out of the chart itself.
I consider the following very important (from most to least) when making my charts:
-Moving average analysis
-Fibonacci ratios
-Broader market volatility and price action
-Market sector volatility
-Elliot Wave Theory (In moderation)
What I don't consider very important when making my charts:
-Company Fundamentals
-News & Social Media sentiment
While there is value in considering these things in longer term positions, they can provide a bullish or bearish bias that ultimately stunts a traders performance.
I'd rather trade a pattern that is confirming than speculate price on those items.
Patience and risk reduction are #1 when considering trading as a profession.
Good luck!
My TA is derived purely from experience in watching price action in the market.
Nothing is guaranteed when it comes to TA.
This is why i always try to come up with a bullish and bearish expectation.
My TA is more than trend lines, but due to congestion on the chart and ease of interpretation much of it is left out of the chart itself.
I consider the following very important (from most to least) when making my charts:
-Moving average analysis
-Fibonacci ratios
-Broader market volatility and price action
-Market sector volatility
-Elliot Wave Theory (In moderation)
What I don't consider very important when making my charts:
-Company Fundamentals
-News & Social Media sentiment
While there is value in considering these things in longer term positions, they can provide a bullish or bearish bias that ultimately stunts a traders performance.
I'd rather trade a pattern that is confirming than speculate price on those items.
Patience and risk reduction are #1 when considering trading as a profession.
Good luck!
So it's kind of useless now.