Q1. Are chart patterns predictive of future price action?
A1. No, apart from a few very weak and tenuous associations (eg trends tend to persist slightly beyond random). For practical purposes, and not for armchair hindsight analysis, chart patterns are merely random numbers which we as humans interpret into what we think are meaningful patterns.
Q2. Can you trade profitably using chart patterns as part of your trading strategy?
A2. Absolutely. Just ask the 0.1% of posters here who are actually making money at the moment.
Q1. Are chart patterns predictive of future price action?
A1. No, apart from a few very weak and tenuous associations (eg trends tend to persist slightly beyond random). For practical purposes, and not for armchair hindsight analysis, charts patterns are merely random numbers which we as humans interpret into what we think are meaningful patterns.
Q2. Can you trade profitably using chart patterns as part of your trading strategy?
A2. Absolutely. Just ask the 0.1% of posters here who are actually making money at the moment.
Q1. Are chart patterns predictive of future price action?
A1. No, apart from a few very weak and tenuous associations (eg trends tend to persist slightly beyond random). For practical purposes, and not for armchair hindsight analysis, chart patterns are merely random numbers which we as humans interpret into what we think are meaningful patterns.
Q2. Can you trade profitably using chart patterns as part of your trading strategy?
A2. Absolutely. Just ask the 0.1% of posters here who are actually making money at the moment.
lmao, MichaelD is definately not a FA trader, I'd be surprised if he even knows what a balance sheet looks like:. I think you probably misunderstood some of his post.
Yes Cartman but they don't actually predict anything do they?
thats the thing with charts. All the others (TA doubters) + many that are using them think they are a "predictive" tool but they are not. They use them as a way to stay in a trade.