Post by
WINDGOD46 on Dec 04, 2023 3:03pm
TA is irrelevant
Does technical analysis make any difference in the scheme of things when there are forces at work which overwhelm any sort of prediction based on technical indicators? Not likely. The general determines the particular in this case and relying on RS, it's a good indicator for the day traders, but not the long term investors. As an entry point, TA maybe useful, but when the Crime Syndicate of Shorts is at work, no need to rely on TA.
Comment by
Anschutz on Dec 04, 2023 4:56pm
There have, and always will be forces at work. RS is only one of many indicators to consider. The reality is indicators have an impact on trading algorithms. My original point is that although RSI appears low and looks like a good entry point, charts are telling me we're heading lower.
Comment by
pinecone11 on Dec 05, 2023 10:04am
Anschutz 'My original point is that although RSI appears low and looks like a good entry point, charts are telling me we're heading lower." So retiredcf's charts are telling him one thing, and Anschutz's charts are telling him the opposite?