Enjoyed your post
@dalts66.
I think people are mixing, interchanging or even confusing concepts here:
Reading vs Interpretation of chart,
Stochastic (Indeterministic) vs deterministic nature of the underlying process. Those who know about statistics (and quantum mechanics) and dynamic processes perhaps know what I mean by these technical terms as relevant to charts here in this discussion. Charts represent these processes (even then, just
in part), Yes landing a plane too - more deterministic less stochastic, even for an old plane - as a pilot you need to check the plane to ensure mechanical integrity and hence it IS NOT much of an stochastic process flying and hopefully landing it too - I do have one of those pilot licenses that you spoke of!
Yes if the chartist is from the
team, then yes, or maybe, but otherwise ...
What amazes me is how people apply simplistic tools to "read" charts here - Given the complex and highly stochastic nature of the process here, with these simple tools I would just call it
interpretation and to that end, yet I respect it can be their interpretation, but it should not deter me from informing of what I know about these processes and hence my opinion that these interpretations should be take with a pinch of salt, ... with all due respect for the specific major contributors here as my statement is general.
To disclose, I am sitting patiently to enter this stock and have an entry price in mind which is partly based on what the chart tells me about the
PAST (i.e.,
now-deterministic as history and past factors that shap
ED the chart are now more known than unknown) BUT I am definitely not way relying on the chart to tell (or even indicate to) me what the future is (or may be) for this stock, be it short, near or let alone long term. For the future however (again short, medium or long term) I rely on other information (NOT chart or chartist's interpretation) that for example posters have kindly provided (see thread in
Post #:48199332) or the research and own experience/knowledge in the sector, stock etc. This was only for disclosure purposes not to suggest a strategy ... each to their own.
(20min delay)