You can put any narrative on a line. It is subjective.
These TA people will be around based on certain volumes as they need a crowd to follow their trades. They try to front run the trade, which is essentially their game.
No trader would have microphone predicting x or y as this negates their own trade. The only advantage a trader has is having an idea prior to that breaking out.
People need to think more rather than blindly following random threads on a chat board. A trader is not your "friend" nor a "guru".
Having invested for a while, these "TA" or "chartists" appear every once in a while proclaiming that their chart has a way to predict the future price movement (no person has this insight). What I can guarantee you, is that I have never met a successful TA trader with a long enough time frame. They always blow up their positions eventually as they eventually fall for their confirmation bias.
Retail will always fall for TA because it seductive in making them think that there is a system. Unfortunately, for us retail, there are no quick paths to wealth building other than time, consistency and luck. All of which, most people dont want to hear.
QPM Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
