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RE: The Only Guide To Technical Analysis That You Will Ever Need
You forgot to tell Bob that his lines work best on longer time-frames. Anything less than a daily chart becomes more speculative and if he's looking at hourly charts or less the lines don't really work all that great.
Of course Bob jumped right into the markets using tick charts - "I'm gonna be rich next month" - and now he thinks you scammed him out of $200. :D
LOL, next month is pretty long. I think these days is moon-lambo potential within 18 hours, what're you talking about??!
Oh, now we're talking the golden moon-lambo triangle? I don't know if Bob is ready for such an advanced charting technique. I mean there's only technically a 23 minute window when it's really accurate, and he would need to draw all the lambo fan lines, as well as the 15 degrees of mooning.
And then there's the equity investment bag holders ratio (EIBHR) to consider. Do you think Bob is ready for this?
Lol was this seriously peddled out there?
LOL. No, it's my own made up hyperbole :)
lol. Hold on Bob. maybe it's not so black and white. Oh and hey Bob, you might wanna do the opposite with the whole buy and sell bit. There's a big hole of sarcasm in front of ya. lol
I loved the simplicity he put in this post. Even i who doesn't know a thing about TA got a hold on how it works.
@kevinwong's explanation was perfect. Not only for those new to TA, but even for some who've had experience with it, but get caught up in the whole indicators trap. That's where the sarcasm came from. Even an experienced person could benefit from his explanation, because it would prompt them to clear their charts and trade with simple indicators (support/resistance). Simple is often best.