Iran happened during the night... and dropped the markets. That gives a potential buying opportunity for day traders. That's trading. Just sitting in longs on the market overnight isn't typically the best strategy if you're an active trader unless you're holding from below and have some runners on.
yes, ninjatrader, thinkorswim. many. Start a new thread asking this questions so other can answer for you.
Well - how do you know for certain that the markets would not have been down regardless of the Coronavirus? Is it possible that the markets were due for a sell-off anyway and that it was only exaggerated by this particular news item? I for one predicted last week down 1-2 % and it was a pure technical call. Nothing to do with RSI or moving averages of course. Further - is there necessarily a contradiction between technical movements and what causes those movement? The bottom line is that players move the markets. And these typically don't sell on a hunch or a whim. Even during a sell-off, markets behave technically. As can be seen on where the bottom for today was put in. The Making of the World’s Greatest Investor
Technical analysis is just a ROADMAP. It's just a map that will guide you to your DESTINATION. It's nothing more that that. How you decide to get to your destination is completely up to you. There are many ways to reach your destination. You could take a shorter but dangerous route over the snowy mountain, or you could take a longer but safer route around a flat stretch of dry land. The choice is completely up to you. So quit bitching so much about TA. It's not the TA, but what you do with it that matters! Thanks for listening (reading).
Well, virus caused too much panic, AMZN crushed earnings freeing the bulls. The market is looking to take profit = rough ride.
LOL! So, you read of a few out of the box indicators, tested them and you're not yet rich? What on earth were you expecting? You're the equivalent of a guy casually reading about brain surgery over the weekend and getting disillusioned when your patients starts dying the next Monday.