I lol at people who use all of their "super advanced" TA.
The only reason TA somewhat works is because everyone is using it. Most people use very basic TA so that has the best chance of actually "predicting" something. But anything beyond that is just fucking voodoo.
thanks for stating the obvious
You'd be surprised how many people disagree, namely the two extremes: people who think it outright doesn't work at all and people who think more advanced is better.
your chart is telling me that it's is going to correct one more time then moon.
so you're telling me human behavior isn't predictable?
But I would come to the same conclusion if the only thing I saw was the TA posted here on biz
simple just doesn't give you the full picture
you have to be looking at all higher trends aswell
Human behavior is somewhat predictable.
But keep in mind that most markets are 70%+ bots so you're not really predicting human behavior, you are predicting bots which have been trained to behave like humans.
well I don't really care if its bot behavior I am predicting or human behavior
All I'm saying is ta works if you do it right.
You can't predict news, and sometimes you make mistakes but as long as your correct 55% of the time you're making money.
Sadly most of the ta on here is complete garbage
Right, I'm not saying it matters _what_ you are predicting as long as it has a positive result. It's just interesting. Basically it works better precisely because of the bots which although have been trained to behave like humans (they follow TA rules) are much more reliable and consistent with their actions.
all of those teal waves consist of 3 or 5waves and those against of 3 or 5 waves
this is the kind of ta you should be looking for
I have another chart only for fib levels in different trends and another chart for general indicators
but the one shown here is probably the most reliable although it takes a shit ton of time
and what is shown on that chart isn't advanced its just Elliott waves inside Elliott waves inside Elliott waves inside Elliott waves inside Elliott waves inside Elliott waves
>55% of the time meme
this board is retarded when it comes to TA, it's so bad that they think this. They don't realize, what makes a good trader is how he handles his loses, what is his R/R. You can win 30% of your trades and still be profitable if you have a good R/R, that's why buy low sell high works. You buy at support, and use just below support as a stop loss (far enough that stop hunts by MM's don't take you out).
The top traders are hardly right more than 50% of the time, they know how to cut their losses. Check their daily P/L, it's usually like
A +1025
Y +560
B -150
C -345
D -405
They might only be right 2/5 times but they still come out on top by letting their winners run and knowing when to cut losses
TA people blow. Last month they said we'd moon. Then if it happens they'll just point to the one twitter post that "predicted it". Meanwhile they were wrong 10x in a row before that.
that is terrible elliot wave labeling, doesn't even follow the rules.
A well rounded, full bodied approach is need
IMO elliot waves are not that reliable. It's obvious once the wave is complete but drawing it in advance is hard as fuck.
and all those smaller waves are all drawn on the smaller timeframes to make sure the larger ones are correct
sometimes you can't be 100% sure but those are the times you wait and see how things turn out to be or use tight stop losses
you seriously think the TA people that actually know how to do ta will post it?
yeah I only read up on how they work, I only make those charts for myself
I labeled them dust, common, rare, epic, legendary, unreal
NIGGA STOP
The children on biz is who your counterparty is. Don't incentivize them into actually learning market movements and attempting to model them. They won't buy it bags anymore, they're gonna be outbidding ur entries and overcutting ur exits
TA works. There are two reasons why new fags pretend it doesn't:
1) they haven't tried it and are too lazy to learn,.
2) there are enormous amounts of predictions made on /biz and most of the predictions are made by people who haven't learned TA properly. They turn out to be wrong and it reinforces the false idea that TA doesn't work.
I make mist of my crypto money using TA and quietly laughing at the shitshow that is /biz
yeah it is hard as fuck but they are reliable
95% of the time something unreliable happens is because a higher trend has been reaching its limit
thats why I have been drawing elliott waves for 14 hours a day for the last 10 days.
and as I said don't make a trade if you aren't sure
tripple check every possible scenario you could come up with if you think that one pattern is really likely to be correct go trade if you aren't sure wait until you are.
Every time you get surprised you will learn something new
It also very often doesn't work when because trends is sideways and you can't tell if it's an impulse or a correction wave.
this for example was the sideways pattern we just had
if you look at the 1min chart you can see that wave 1 3 and 5 each consist of 5 waves each or at least are likely to be having 5
and 2 and 4 only consist of 2 waves
on top of that the wave before was a corrective wave although it was quite steep
thats why I was quite confident and waited for the impulse wave down to close my short and go long, which I just closed after the 3 impulses
But bot behaviour is even more predictable, its literally a set of instructions
actually wait I just wrote complete bullshit
I thought it might be an impulse wave but then wasn't sure and because of the waves before it should have been corrective.
Im to tired for this shit right now.
But either way, after that channel it had to go down didn't matter if impulse or correction
That's not sideways at all.
I'm talking about something like this. This is a 1D view of platinum since about 2017.
1m chart means nothing, stop doing TA on it
MOTHERFUCKER YOU DONT USE 1MINUTE CHART iT MEANS ABSOLUTELY NOTHING!!!!!!!