Chartists usually claim to have that special "knowledge" and say they have memorised it. Lol.
But I think just like you and me, they're trying to figure out what the current market sentiment is and in certain cases spread fear the chart is about to approach cliffs and mountains and a cliff and valley and mountain again.
Questions:
How would Chartists know a lot of people are planning to sell but have not stacked their sell orders?
Or How would Chartists know A lot of people would like to buy at a certain price when they haven't put in their orders?
How will Chartists know some family members of investors are sick and need money hence need suddenly to sell down some holdings?
How will Chartists know a marriage broke down and have to liquidate their holdings?
How will Chartists know a couple just married and is deciding as a couple to invest big in Galaxy shares as they're both renewables or EV enthusiasts?
How can Chartists predict the mood of investors? Or decisions of big instos like black rock? Or which chart can predict that a stupid bank would put out a stupid comment to scare investors?
You can predict that Australians will consume eggs, bread, cereals and milk every morning but not the above.
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