Charts dont explain anything. Im asking about the causes of the charts. Charts only work when you understand the cause of the movement, i dont, thats what im trying to learn now because these market moves have been kivking my ass lately.
%% SEASONALs are almost as good as following trends; QQQ + UPRO seasonals tend to be superstrong in 4th quarter, 1st quarter. NEVER use them for 5 minute noise chart, myself. Stock Traders Almanac from 2001- 2019 or 2020 can help a lot with seasonals but a five minute chart is too much noise to do seasonals . May work for demo derby, but another contract of mine is voided by a demo derby or commercial racing.......................................................................I've done commercial things but that has to be declared+ planned from the get go.......
Occasionally, on a discord, I get some guy with a $3K account explaining the intricate reasons why the market is doing X. Quite frankly, it doesn't matter why.
There are some traders here who will say that TA moves the markets. After all, if everyone believes a stock should be bought when it reaches the bottom of a 200 MA channel, then people probably will buy it there, providing a bounce off that level. Gee whiz. There are some traders here who think that FA moves the markets. After all, if everyone believes that a rate hike in the future will impact a growth stock's performance, and that rate hike is announced, then the stock will prolly' get sold because everyone believes the narrative. I am of the latter, because the FA determines the longer-term TA in my view. But these are very long-term views. You have to just try to get a feel for the instruments by watching the charts day after day after day, where you start to "feel" what is going to happen, based on past observations. And the only way to do that is by staring at charts, day after bloody day.