Dingo 37Been "charting " since 1960s by hand then of course, &...

Dingo 37

Been "charting " since 1960s by hand then of course, & downloading whole marklet into charting program since early 90s so I am NOT ignorant/ unaware of or against t/a
My Edwards & Magee ( bible of Charting ) was purchased in 1974 & over the years I have collected dozens of books on the craft. I have proof read text for some of Daryl Guppys books... so I do have some credetials in the field

I do look at your work & it's good.

I still make the observation that if there are enough lines on a chart the prices will intersect them somewhere.
--------------------------------------------
GSE
Agree about support & resistance, there is some logic & reason to it.
Could have quite a good discussion on this if you like but will leave it for another time.

Also agree with you that we dont need to know how something works for it to work ( I dont know how my TV set works for example... but I know there is a logic & science to it which I could learn if I chose )
But I cannot fathom out ANY logic ( & I have tried to find the hold grail ) why for example a series of fib numbers necessarily equates to how share prices move. Of course If you put a series of lines based on Fib numbers on a chart, some will touch the prices at some future date..... Equally a series of numbers based on your inside leg measurement could be adapted to fit on a chart with similar result.
I could go on here with elliott & gann but I won't....Well only a little bit.
Sure sometimes shares go up & down in 5 waves do conform.
When this doesn't work the avid practioners reclassify the waves with hindsight as sub waves or whatever.
My point is that is that none of these methods are sufficiently reliable & consistant to be predictive in a manner that one can use make money.

Where I strongly object to is when posters say a price WILL be x on a certain date because it MUST conform with a set of pre determined rules.

Clearly this does NOT happen every time.... & in fact does not happen very often.
It is therefore dangerous to make such statements & anyone who blindly follows such advice will ultimately be badly burned.

Im off to charm a snake.

BEndigo