I dont have anything against chartist as such, except I spent years involved in over 300 people (group) that traded options if ever you needed charts then thats it . Even then only the most highly talented one there was successful , made and lost over a mil 3 times that I know of, after that ? watched two others lose their homes wife everything , but but but the chart sais this and that. No it doesnt. Only the most highly skilled people in the world are Really successful with charts. but you must take EVERYTHING get it all signals into account, not some one eyed, linear way of thinking into account, have you any Idea how much there is to learn. Take a car accident , was the road wet
was he drunk
was there oil ,wind
fall asleep, etc etc etc
Same with charting in equities, anything can happen at any time
market collapse
drill a duster
capital raise etc etc
So to forecast in equities very far out other than day trading is laughable to me. and some of you do that with the B?S I read, EG next leg up , gap to be filled etc. You must be rich by now then?
But you can get a rough Idea from a chart when it is either overbought or oversold and more than likely to turn, and this usually takes a few days if not a bit longer. Best Oldynasaw
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