technical analysis quote from Top Trader book

Discussion in 'Trading' started by TradeBlazer, May 12, 2024.

  1. Yes. Bitcoin was already showing that it could reach a low of 14k-18k 6 months before the ftx scandal broke to subsequently drop to those levels. It wasn't a matter of IF it would reach those levels, just a matter of WHAT would be the catalyst.
     
    #61     May 13, 2024
    Darc likes this.
  2. He’s confusing autocorrelation with causation. :rolleyes:
     
    #62     May 13, 2024
    Darc likes this.
  3. p0box4

    p0box4

    Well that's totally different from what you have been saying earlier ...
    You literally said it's predefined by the chart and the chart should be able to predict moves from earnings, so go on then, predict it ...

    It's obvious that an earnings report tomorrow will have limited impact on the move that happens in the next 6 to 12 months, but that wasn't the question and that wasn't what you said in the first place.
     
    #63     May 13, 2024
  4. Darc

    Darc

    I think you're one step away from Crazy.

    But thanks for the answer.
     
    #64     May 13, 2024
  5. Philosophy and psychology will take you a lot farther in trading than any math. :)
     
    #65     May 13, 2024
  6. p0box4

    p0box4

    Tell that to the guys who were short cocoa based on technicals ;).
    There isn't one technical pattern that predicted this extreme move and it's completely based on fundamentals.
     
    #66     May 13, 2024
  7. “Stonks only go up” :D:rolleyes:
     
    #67     May 13, 2024
  8. Well you can extrapolate using various methods to ascertain whether this ER needs to be a miss or not. I see the price completing the C&H so at some point they are going to need a catalyst. :)
     
    #68     May 13, 2024
  9. p0box4

    p0box4

    Still not an answer ...
     
    #69     May 13, 2024
  10. Chart?
     
    #70     May 13, 2024