This is what is making it so hard to judge and making TA pretty much useless. It isn't following a trend, anyone predicting it is and keeps plotting triangles is just guessing. There will always be triangles or channels that form, that is the nature of a line graph, it is just simple geometry.
It is easy to keep looking for triangles, channels and plotting subwaves after the fact but lately I've found most of the TA I have been looking at is rarely correct and typically only for short term (hourly-daily). So if you are constantly watching it might help you out, but for most of us following this doesn't help.
Just go look at past charts on trading view from "PROS" or even back track on posters on steemit. You will find 25-50% that got the call right that day. Go to a week, their might be 10/100. A month maybe 10/1000, if that. It is pretty much a guessing game at this point.
I agree, that is pretty much the only TA that I trust. We have bounced off of support prior at our current level, so if we don't bounce here we are going down to 6900 levels, then 6k.
Ive never seen the market so undecided lol And the manipulated looking chart right now is crazy !
This is what is making it so hard to judge and making TA pretty much useless. It isn't following a trend, anyone predicting it is and keeps plotting triangles is just guessing. There will always be triangles or channels that form, that is the nature of a line graph, it is just simple geometry.
It is easy to keep looking for triangles, channels and plotting subwaves after the fact but lately I've found most of the TA I have been looking at is rarely correct and typically only for short term (hourly-daily). So if you are constantly watching it might help you out, but for most of us following this doesn't help.
Just go look at past charts on trading view from "PROS" or even back track on posters on steemit. You will find 25-50% that got the call right that day. Go to a week, their might be 10/100. A month maybe 10/1000, if that. It is pretty much a guessing game at this point.
Use the simple TA tools first: support and resistance. All substantial support has been broken above the 6900 level so look for a test there.
I agree, that is pretty much the only TA that I trust. We have bounced off of support prior at our current level, so if we don't bounce here we are going down to 6900 levels, then 6k.