Good quote Bill, and yeah individual players and news events can trump technicals and a fair amount of regular TA flat S&R etc. is fed to the cannon fodder, but understand it's limitations and use it in the context of what market data is telling you. If you play the probabilities and use TA in context (oh and maybe chuck in a little Wyckoff to try and read the big money plays) then it works. Just have the discipline to get out when your indicator signal or pattern or whatever is broken, and for Pete's sake use some good money management.
Ok, since I am new to trading, I have seen this word "TA" so many times on this forum. What is TA?? Thanks!
Lol okay. Technical Analysis. It's the name of the forum of this thread. Or tits and ass, which ever suits you best.
TA is one tool that a trader can use. Donât blame your tools if you canât do the job. Maybe you are using it wrong. No one has yet given an example of where TA didnât work.
The pattern that I have noticed using the alternate T/A definition is when the proper shaped wedge pattern is in place, a noticeable up-trend will follow.
Explain your strategy for doing that..............You sounds like you're better than the market. Ok sounds good. Time to back it up. What's your strategy for trading "market context"???? Who are you kidding?