This probably applies more to active traders popping off in the chat rooms here about price directions and where things are going and while I agree that there are proper ways of applying technical analysis to charts, even Bulkowski gives statistical probabilities associated with the accuracy of price directions. Traders here like to dawg other traders on the DL by posting content that undermines or criticizes them and their ideas but I say, all that matters is whether your ideas make money or not. Is it a Gartley or is it something else? Do the points align with prefect %'s? What would Bulkowski say? Fib channels and extensions, pitchforks . . they ALL WORK . . "sometimes". . .
So here I've posted what is (as I see it) clearly an intermittent downtrend on BTC. One trader told me I was wrong in my application of the modified Schiff pitchfork . . "That's just wrong" I was told. Look closely though, the price action and the channels fit like a f'ing GLOVE and I used it reliably for entries and exits as I took scalps all the way down the pipe. Also, my Gartley printed a solid leg up, my Fibs kept me in the green and things have turned out well.
So you might have fancier tools, trading systems, advanced degrees but you still just disappear like the rest, tuck tail and run when all that talk put you in the red with BIG LOSSES. I've been using TV for a couple of years and was generally quiet with my ideas but man, step into the ring here and there's all kinds of tribalism, hostility and salt for even good ideas. Take what you will from this but again, it doesn't matter if some random candle wick didn't align perfectly on your trendline, it only matters that the tools you had available produced meaningful results.
Good luck.
So here I've posted what is (as I see it) clearly an intermittent downtrend on BTC. One trader told me I was wrong in my application of the modified Schiff pitchfork . . "That's just wrong" I was told. Look closely though, the price action and the channels fit like a f'ing GLOVE and I used it reliably for entries and exits as I took scalps all the way down the pipe. Also, my Gartley printed a solid leg up, my Fibs kept me in the green and things have turned out well.
So you might have fancier tools, trading systems, advanced degrees but you still just disappear like the rest, tuck tail and run when all that talk put you in the red with BIG LOSSES. I've been using TV for a couple of years and was generally quiet with my ideas but man, step into the ring here and there's all kinds of tribalism, hostility and salt for even good ideas. Take what you will from this but again, it doesn't matter if some random candle wick didn't align perfectly on your trendline, it only matters that the tools you had available produced meaningful results.
Good luck.
Trade active:
If anyone is following my Bitcoin Long idea then you can follow my price shout outs there. Posting this a second time here just for reference, but I pretty much nailed this . .
Trade active:
1/3 wrong (and I admit when I am) is still 2/3 right and this is a game of DCA for net gains vs. casino capitalism and going all in . . unless you have info ;)