NOR charts thread, page-2013

You’re funny Greko.

“Anyone can throw up chart like that.lol”. Well, has anyone? Have you? Mine are simple charts, but that’s the point. I’ve just put up the relevant information that tells you what’s going on. Guys love having lots of bells and whistle’s on their charts, but it doesn’t necessarily make them any more accurate or help their trading.

RSI and Stochastics are Oscillators, they assess price movements within a defined range. They won’t help you on a stock like NOR.

Moving Averages and MACD are crappy lagging indicators. I don’t use them.

Candlesticks patterns I use and have their place, but it’s bar analysis focused on the small scale turning points, not the big picture direction of the SP.

The relevant support and resistance levels are already on my chart.

I just use classical charting techniques, the things you could have done on a hand drawn chart in the decades before the advent of computers.

Modern technical indicators like you’re talking about were developed in the computer age. But with algorythms and bot’s used by institutions and hedge funds far more powerful than what you can use, how are you going to get a consistent edge with those tools? Any trading edge that might have once existed with computer generated technical indicators will be eroded by bot arbitrage.

I also just look at Monthly and Weekly charts. You can have your daily and hourly charts and RSI, Stochastics, MACD and the rest of it. It’s all just noise and for commentary. My advice to you is to throw the irrelevant stuff away and focus on big picture, simple tools that give you confident conclusions to actually help you to trade more successfully.