Markets never trend . . . charts do and specifically defined charts are always in a trend. Choppiness is noise created by consolidating oscillations and can be quieted by slowing the chart increment down proportionately. Some TA "is" objective but if you aren't willing to open your mind to verify that FACT for yourself you will never use the beauty of it.
there is nothing wrong with gypsy tea leaf reading as in TA as long as you enhance it with the power of observation.
Yawn. So TA doesn't work, eh? Can't predict the future? Indicators lag? But the market is not random? Anything that not random is predictable - that's what non-random means. What's not random has mathematical relationships and maths is predictable. TA works in sub-1 minute chop or annual charts and everything in between, so don't blame crappy TA skills for not being able to qualify what's staring back at you. Everything works - even price action and fundamentals. But anyway, thanks for the entertainment.
Haven't seen you post in a while. Really miss the thread you were a part of. If you don't believe TA works just watch him trade for a day. You'll be graveling at his feet. He taught me a lot.
For intraday time frames, what is more fundamental than anticipating who needs to buy and who needs to sell? Forget the percentages people, in the long run "edges" are meant to be worn smooth over time. Why trade when you're just guessing you might have a 60/40 advantage, when there are situations that are so obvious nothing can stop you from making a profit? Think about it: how hard is it to draw a straight line across support or resistance? How hard is it to apply some pre-canned indicator and pull the trigger when the fast MA crosses the slow? Conversely, how hard is it for you to make up your mind that price will go up or down -- and then reverse that position in an instant when you realize it's wrong? You get what you put into your methodology, the lazy end up with zilch.
Every aspiring trader should read (and understand) this most excellent quote. Spot on. - Spydertrader
It is too! No it's not. Yes it is. No it's not. Grow up children. Stating opinions on either side never won a discussion. Regardless of how it happened the chart does record the past price action. It is a memory crutch. Not many of us can remember the past price action in any detail. I don't believe in fortune tellers. They are all cons but some are very good at reading people. Some people are very good at reading charts. The good ones do not overly complicate the process. Fundamental believers would probably have a hard time justifying their implementation without relying on past responses to evaluate possible future price action. Can they honestly say that their correct pick was not shown on the chart as a changing price action. That changing price action is all the chart reader needs to make an informed (but not garanteed) decision. KISS
shark My advice to you is don't look at any chart. Just trade and stay away from them. trade well perr