What software are you using for TA?

the seeking peaking duck, a classic formation before the yin yang isosceles reverse rebound. nice pick up user
beware, the duck is flying south

So what do you do then?

I never get tired of posting pictures of Pivot Points.

it's almost cultist behavior I see on here by people who disregard technical analysis. I assume you learnt it from some authority figures.

Fundamentals are important, they are what drive a market. But you people need to understand that a market is not there to comply with your belief system. It is what it is.

You can choose to shout about "TA is a meme" all you want, the reality is important to get a handle of, though.

Look at those support lines, look at those resistance lines, these are used by people (and probably algos too). Ignore it, or use it, it's up to you. Technical Analysis is just another tool, and Pivot Points are used in many markets.

>not using lizzards

...

whats the angle on this crap?

u smart

24 hours? i doubt any of these faggots last more than 5 hourse before shitposting again

I use TS

>frog market is forming a reverse honeycomb trend based around a chimp phase last week in which the price formed a perfect platypus pyramid

You ruin jokes a lot, don't you?

You can draw lines between any two peaks or troughs however you please. Backtesting is very easy. But correlation does not equal causation. With fundamentals at least your hypothesis is based on causal, understandable events like a good new product. But TA's only hypothesis is "people behave in repeated ways", which is a too general statement to be practical. It assumes all relevant information of the market is the price and volume.

The evidence is clear. All the richest and most successful investors over a long period are fundamentalists. Some have incredible foresight of the market, like Soros, but they don't use TA. They use shrewd geopolitical sense.

I kek'd

It's not me drawing the lines, according to what has happened. They are commonly used leading indicators. This goes for not just bitcoin, but the indices, commodities, and the currencies.

investing.com/technical/indices-pivot-points

>Pivot point, support and resistance calculations are widely accepted as the simplest yet most effective trading strategy. They are well trusted by traders, banks and all financial institutions as clear indicators of the strength or weakness of the market. They are used as the basis for most technical analysis. The pivot point is the point in which the market sentiment changes from bearish to bullish.

fxstreet.com/education/learning-lab-201405260000

>The mathematical calculation of various support and resistance levels, based on the high, the low and the closing prices of the previous period, was initially used by floor traders in order to trade efficiently. The indicator was strong enough to be considered for included in technical analysis, resulting it to be and as a result you can find it present in the majority of trading platform[s]
You are disadvantaging yourself by ignoring what the crowd sees, and tends to follow.

lol thanks for this user

kek

If the crowd really does see and follow it, it wouldnt work because everyone is behaving the same way. It's possibly an interesting thing to note but from experience and seeing successful investors it's useless in forecasting the market. Resistance and support levels are as much likely to break as to hold, and their so called accuracy relies on the fact that stock prices hover around averages over a short period.

The Dow Jones Index, literally right now, as it drops.

Certain aspects of TA are very important for how the market carries itself. The market is not anymore complicated or simplified than it needs to be (in the short-run).

Trading View

I am very new to trading, how do you guys learn about all these formations ? if I google them nothing really comes up. I just found something about cup and handles and the freedom statue

You're not taking into consideration that the share market and crypto market are two very different beasts. Doing your own research in crypto projects and investing in the ones you believe and holding long term will yield return, however so much of the current crypto market is based on speculation as so few companies actually have a working product. Due to this, TA for crypto is extremely relevant and effective and people have been making killings from it

TA is 90% irrelevant when it comes to cryptocurrency because the market is so small and volatile. You would be much better off spending about 1 hour learning the basics of how an exchange works and the rest of the time devoted to understanding the principles behind crypto and the socioeconomic/political factors that are going to drive market forces. Throwing a little bit of RSI forecasting into the mix never hurt anyone, but going overboard with crypto TA is a mistake.

The crypto marketcap is just way too small and fickle to apply ONLY technical analysis. If you use TA to help guide your decisions, fine, but if you aren't doing due diligence about everything else regarding a token/coin then you're selling yourself short.

Shills above. Sell TA it's a perma-dump

That is true, FA and TA is what I use, as I stated. Anyone must know macroeconomic, political, seasonality/climate factors, when trading any of those things I've mentioned.