SBUX - ouch....it's gonna need a venti with extra caffeine to get the bulls interested. The break of 110 points to 86
You know why most technical analysis falls short of your expectations?
It’s too subjective!
RSI and stochastics measure periods of overbought and oversold….but this measure has a defined range and o/b and o/s don’t always mean the party is over
Elliott Wave - objective rules; subjective interpretation
Moving averages - yeah, what about them?
Pivot points - yeah, what about them?
The common denominator, besides the fact that these are largely subjective measures, is that even if they were valid in terms of how you use them the rest of the marketplace would also need to be looking at that same exact set-up & indicator reading at the same time you are.
Otherwise, there is simply not enough critical mass behind your technical conclusion.
And I hate to break it to you, the odds of enough large players or thousands of small players looking at the exact same levels you are eyeing is slim to none. No offense intended. You’ve just been fishing in the wrong pond!
Now for something completely different and objective.
What if you had on your charts a series of horizontal lines that were derived mathematically and highlighted where the market as a whole is focusing on?
That would be helpful...right?
No subjective process in terms of the calculation
The price levels are very key and MANY large market participants are looking at these levels
It’s the perfect combo.
That’s what Aspen Trading’s S/R Levels do exactly.
And they are available on TradingView services.aspentrading.com/offers...
You know why most technical analysis falls short of your expectations?
It’s too subjective!
RSI and stochastics measure periods of overbought and oversold….but this measure has a defined range and o/b and o/s don’t always mean the party is over
Elliott Wave - objective rules; subjective interpretation
Moving averages - yeah, what about them?
Pivot points - yeah, what about them?
The common denominator, besides the fact that these are largely subjective measures, is that even if they were valid in terms of how you use them the rest of the marketplace would also need to be looking at that same exact set-up & indicator reading at the same time you are.
Otherwise, there is simply not enough critical mass behind your technical conclusion.
And I hate to break it to you, the odds of enough large players or thousands of small players looking at the exact same levels you are eyeing is slim to none. No offense intended. You’ve just been fishing in the wrong pond!
Now for something completely different and objective.
What if you had on your charts a series of horizontal lines that were derived mathematically and highlighted where the market as a whole is focusing on?
That would be helpful...right?
No subjective process in terms of the calculation
The price levels are very key and MANY large market participants are looking at these levels
It’s the perfect combo.
That’s what Aspen Trading’s S/R Levels do exactly.
And they are available on TradingView services.aspentrading.com/offers...