Information is written on the chart
Comment:
this is probably the most embarassing analysis of the market ive made to date. the only accuracy was price stopped right around where the blue X is NOT at the exact date. i didnt mean to put this up as a daily chart i meant it for a smaller time frame. price shortly rose to 46.86 and stopped. We all have an intuitive discretionary indicator built within us. I have trouble acting on some of my best calls. and act foolishly on the ones i shouldnt trade.
Comment:
After looking at all of the charts ive put up. rather than really trying to predict where price is going. what ive found on every single chart is that robust blunt tools such as trend lines and support lines are the simplest and most effective tools. being simple is the most intelligent thing that you can do. moving averages are lagging. they are telling you what the market has done rather than what it is doing.
Comment:
price bounced exactly between the two support lines drawn at 44.17 and 46.86 and 49.43 i guess what it comes down to is having the confidence to believe your own work.
Comment:
forget about the blue x and red x. and predicting where price will travel exactly. that is the more glamourous side of trading. its too fancy. impressive when your correct and enchanting to many people. but you can quickly hang yourself in the eyes of many when you fail to be exact.