It's no wonder people get exasperated with this thread. First we're told the obvious is so simple that even a child could work it out. Then those supposedly in the know proceed to convolute the hell out of it. What next? Another deeper obvious that's even less obvious than the original obvious?
Come on TO namesake, surely you are not that naive! Reference to children is metaphorical, as we all know a child can not trade effectively. A few know the real answer, and that is obvious from their posts. The majority will always "seek" out the easy solution, and we know this is not the best solution, but the best solution requires serious thought and serious actions, which many are either unable, or willing, to do. Of course one can learn from someone else, that is very obvious, but learning something is not the same as doing something, or being able to do something! Anyone can make money trading, for all one needs to do is BLASH and SHABL, so why don't people just do that!
I wonder how many of those who claim to have had an 'ah ha' moment when reading this thread were actually thinking of the same thing, or something which is different for each person. Mass Delusions and Hysterias: Highlights from the Past Millennium... I have read in a good medical work that a nun, in a very large convent in France, began to meow like a cat; shortly afterwards other nuns also meowed. At last all the nuns meowed together every day at a certain time for several hours together. The whole surrounding Christian neighborhood heard, with equal chagrin and astonishment, this daily cat-concert, which did not cease until all the nuns were informed that a company of soldiers were placed by the police before the entrance of the convent, and that they were provided with rods, and would continue whipping them until they promised not to meow any more. (Zimmermann cited in Hecker 1844, 127)
That is what most people try to do. Overbought/oversold, support/resistance, buying pullbacks, not to mention all the myriad of indicators and oscillators, are all attempts to quantify what is (relatively) low and high.
HA. Some of it. Marcus Crassus used to set apartment buildings on fire in Ancient Rome and then bought them for next to nothing from the panicked owner. After the owner sold Crassus's firefighting team would put the fire out and repair the damage. Crassus would subsequently raise the rents on the tenants or sell the building for a ridiculous profit. He was the richest man Ancient Rome. He CONTROLLED the market. Jesse Livermore discovered what CONTROL was by the 1920's as well. He would quietly buy up stock (like Jon Lebed, see my early post for those confused), and then quickly start to buy to drive up price on the same day newspapers were publishing "stock tips" about his operations. The rise in stock price (from his buying) combined with newspaper tips about his operations (which he himself was supplying to a few news outlets) allowed him to unload shares to duped buyers. CONTROL (although he didn't do this every time). Warren Buffett enjoys the herd as well. The news says "Warren Buffett bought blah blah in Q4", and suddenly everyone wants to buy blah blah. Obviously Mr. Buffett isn't playing the short game, but the "shit to a blanket" herd factor still applies. There are many more examples litered throughout history. If anyone is interested in more recent CONTROL situations, look up "Fontas" for BitCoin pump and dumps. Apparently OP still reads this post everybody. If he (or she, I'm not sure, there was a mention of "not being a dude") was impressed enough with my previous answer to have you reply J_Smith, maybe OP would consider hiring me. I love history OP "This is Ground Control to Major Tom: You've really made the grade. And the papers want to know whose shirts you wear"... Wonder if Bowie knew the obvious... Hmmm
Who said anything bout using the usual text book rubbish! As i said, sit back and LOOK, forget about everything you think you know, and ask yourself, "What am i doing that is causing me to continuously lose money? " If you actually think about it, you will see it!
No one is saying you are wrong in relation to History, in fact, you are to be congratulated, as you are one of the few that has become aware of domination of the majority, by the minority. This can be seen all thru the ages, from the ancient wtitings of Mesopotamia, the Crusades, the Industrial Revolution, and even to the present day Social Media Revolution. However, the "cosy gang" that controlled the financial markets can no longer do so, due to technology and speed of information exchange. Information is the key to power and wealth, and once the "control" is no longer possible, then neither is the ability to stop wealth distribution, which was the case up to very recent times, as just explained. In order for one to rightly claim the wealth they are entitled to, one must first realize that the elite few still try to control the majority, by making sure the information provided is not the information required, and this is still easily accomplished due to our silly and ridiculous education system. In summary, if you are stupid enough to believe what you are told, without hard evidence to support same, then you will stay a plebiscite, but if you open your mind, look at History to see what actually happened, as humans keep repeating the same thing, over and over, then you stand a good chance of attaining the wealth you are entitled to, as technology has enabled you to "beat them at their own game", and, the first step, as always, is... Awareness !
For most I imagine trying to BLASH and it ending up as BLASEL; or SHABL ending up as SHABEH. (E=EVEN)
Oh well, here goes! Where are the most recent obvious BL and SH on this chart - just one BL and one SH J_S Or if you prefer candles, same thing but obviously different!