That's not really the point I was attempting to convey. What I was attempting was KISS too, similar to Scaterbrainsnbergers point. One could in theory and practise dispense with dozens of chart lines and still arrive at the same conclussion.
Let me see if I've got this right: Support and Resistance, does NOT work. Trendlines and Channels, do NOT work. Moving Averages, do NOT work. Candlestick analysis, does NOT work. Volume analysis, does NOT work. Thanks.
I agree, but... You need some method and/or means to arrive at a conclusion. The market does not care if it is the same conclusion as someone else with different means and/or methods. The conclusion you arrive at, whether it is right or wrong, is your conclusion.
Quite correct. change does NOT work to does NOT work most of the time. If you just use SR TL channels MA candlestick volume analysis, The win rate will be around 1% (best case). So that means traders must come up with something to improve the win rate from 1% to 40 to 50%.
LOL, if that were the case, why are we even arguing? It's because we rarely ever come to the same conclusion, and thank god for that. BTW I've said this over and over again, you shouldn't be competing against the institution. You really should be out-competing those who are dumber than you. May that sink in.
Al Brooks doesn't trade Bitcoin. He believes it tradeable using TA, but he can make more money trading the Nasdaq. I agree with Al Brooks.
My take.... They sort of work, but if one relies too much on them they can send you down the path of brokeback mountain. S/R are prolly the most reliable on your list.
Hmmm.... I think Al Brokes is an armchair trader. QQQ black, Bitcoin orange, percentage change, 3 years.
Yah but I'm naturally lazy, I seek max output for min input. I compete against myself, always looking for flaws and a better way. With an engineering background I don't think of the market as people but a machine with a cunning coded brain.