It we plot some dots on a graph and ask 10 peoples to connect those dots. We will see many different ways to connect those dots. They are not exact and absolute science. It rather reflects one’s perspective what sentiment he/she holds and how they want to perceive the trend.
Why does context so important? Chartist never knew there would be a CR. So the prediction that they made prior to the CR announcement did not hold since the CR announcement made. That’s just one instance.
wa1 Chart, page-13
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