Chart, page-20338

Thanks baba.

Perhaps my choice of example (bullish flag) was not the best, for the reasons you describe.
How about the more "basic" notion of say a level of resistance, from a previous turn in the chart say 6/12 months ago. In this case, the chart may currently be headed towards the "resistance" level, but may just blow right on past it because of "macro/company-specific" factors as you say.
Is there any point in being wary of the resistance level in this case, or is it purely due to traders playing "by the rulebook" that may create some hesitation at that level..?
I suppose that's a better example of the point I was exploring above - that in the case of, say, a strongly rising tide, some "resistance" due to patterns or historical levels on the chart may simply be a LOT less relevant than "in general", if that makes sense.

I realise many will consider FA/TA combo, but surely there are many who go by TA alone, that are doing themselves a disservice by assuming that the "overall" probabilities are relevant all of the time..?
There are many times that I've seen someone note a resistance level and the sp has not even flinched as it sails on through it.

Just thinking aloud, thanks for sharing your thoughts and ideas.



IMO
DYOR