More Price TA

Discussion in 'Technical Analysis' started by Scataphagos, Nov 4, 2024.

  1. Nov 4.PNG The market has tried to take out 20000 at least 5 times. Each time, buyers turned back the sellers... That's "support"... that's Price TA.

    If 20000 holds, it means something. If it breaks, it also means something. Support Zone is "action zone" whether it holds or breaks (or "fakes"... :)).

    FWIW...
     
    SimpleMeLike and Sekiyo like this.
  2. Sekiyo

    Sekiyo

    I’ll let you know when I buy it so you can sell the break :D

    WWIII…
     
    maxinger and jys78 like this.
  3. p0box4

    p0box4

    Can't you just open a TA thread where you post your stuff instead of spamming this forum with a new thread every other week.
     
    taowave, maxinger and flash crash like this.
  4. maxinger

    maxinger

    Don't follow the TA textbook blindly.
    Because professional writers spend very little screen time looking at the charts.



    In real life,

    Before the price touches the support line, the price reverses direction.

    Before the price touches the resistance line, the price reverses direction.

    When the price touches the support line, the price pierces through it. Then
    continues it's direction or reverse direction

    When the price touches the resistance line, the price pierces through it. Then
    continues it's direction or reverse direction


    So you ended up with

    - thousands of missed opportunities
    - thousands of stopped outs
    - topping your trading account thousands of times


    Then the professional writers will change the line into a narrow band.
    Soon the band will be a mile wide.


    FWIW ...
     
    Last edited: Nov 4, 2024
    Actuarial_Fun and Sekiyo like this.
  5. Sekiyo

    Sekiyo

    Yeah … When the market fills your limit order at the level it means you’re the only expecting a bounce.