In self-fulfilling prophesies?
Im seeing this shit being posted on both twitter and FB.
This is the shit (while the graph is completely random, and has SO MANY points of data, the user can simply zoom in or out at whim in order to form a shape of his/hers desire) people will buy it. And believe it - and thus making it true.
It IS very pretty tho. Well zoomed "OP".
Other urls found in this thread:
cnbc.com
twitter.com
WOO LETS GO
it's happening
No, I don't, it's fucking crashing, you're stupid. Screenshot my dick.
...
Until it falls though that lower line, I'm not terribly concerned about the movement we've been seeing.
>Screenshot my dick.
I tried but it's less than 1 pixel so it didn't work.
the legacy financial institutions are manipulating the market. things are not what they seem.
There might be something to that, user.
>cnbc.com
Yo can anyone draw a triangle on this shit?
past performance something something future something
After following charts and TA and memes for a while now, the more i follow it the more I'm convinced its a meme. You can definitely see patterns but there's so many you never know which will form until AFTER it's completed. Trading it before a pattern forms is pure wishful thinking with a healthy dose of confirmation bias. People only ever remember the chart patterns that worked for them.
Every time a prediction fails to pan out, the goal posts get shifted again and the chart tortured some more to make a theory fit
>oh there was an unseen wedge
>oh if we use this setting we can see resistance was actually here
Blah blah bullshit. Staying tapped into a number of news sources can give you fair idea of market sentiment and trading that would be far wiser than meme lines. Catching early news or trading hype.
There's one guy I follow who uses geometric trading and is somewhat around the mark but pretty much subscribes to the above. His method is a bit more involved and seems to chart actual market sentiment a bit better than plain "cup and handle" type TA does.
Fact: want to make steady gains? Buy something not shit and just hold. Want to short term and margin trade, buy/sell the trend and stick to a plan.
>hers
kek
Lol keep redrawing that line after the fact. Or drop that to a week timeline and redraw. He'll even a month timeframe would give you Dipshits a clue.
Welcome to $120
I am sick of TA.
>Judging by the staircase pattern blablabla
>if it breaks resistance at 660 the next point is 773
>if it breaks that we will see a rise to 850/890
>Breaks both and immediately plummets back to 600
>Sorry guys I don't know what will happen now.
What I've rarely seen is anyone who supports using TA alone, despite there being plenty of people who trade only on TA and do fine.
I've come around to the line of thinking lately that since no one knows what's going to happen having any rules at all is about as good as anything else. I'm not sure if it even matters if you read the news or not, as long as you have most of your losses minimized and most of your profiting trades maximized it doesn't matter.
It's kind of interesting how people call it a mistake that they didn't sell at a profit of course right before it tanked, then another time they will congratulate themselves for getting out at the right time based on "intuition".
tl;dr - It's fucking nothing. All of it is fucking nothing.
>mfw I realise that head&shoulders is more than just a shampoo
A lot of it in crypto can also be self-fulfilling prophecy.
>guy on twitter with 20k followers
>"im shorting 'X' here expecting it to fall to 'Y' here"
>get retweeted by 6 other people with 20k followers
>everyone starts opening shorts
>it dips
>"omg nice call"
>he closes his position and its a race to the exit for the remaining shorts
>someone gets squeezed out at the top
Every time
THIS PROVES TA ISNT JUST A MEME, ITS REAL
that's called musical chairs
Duh there are scientific papers that show that TA has no predictive qualities.
Furthermore, since millions of tools do TA, there are bound to be a couple who have positive results for longer periods. It's just statistics.
In poker you call those people "lucky donkeys" and they keep the meat grinder looking good for other donkeys.
NO ONE NEW IS BUYING
OUR PONZI SCHEME ONLY WORKS IF NEW BLOOD COMES IN
it's just meme magic at work.
and meme magic is very effective
ist called limp biscuit