Dui,
Hate to burst your bubble, but time in the markets does not make you capable of judging technical analysis. It requires study .... did you get that ..... STUDY !!
Most people think they are too smart to put in the time, then when they loose money they blame TA. Classic delusion. Reminds me of a 5 year old who said maths is a load of rubbish because he couldn’t do his 2x table.
I have been in the markets since 1972. Like you I thought TA was a waste of time and spent the first 20 years following brokers reports and similar fundamental stuff. In 1992 I gave TA a second look. Best thing I ever did.
If you aren’t prepared to put in at least 12 months intensive study, don’t bother trying to learn TA. It takes effort, and most people are just too lazy or impatient.
IMHO traders should ALWAYS combine TA and FA, unless trading very short term.
Cheers
SP
technical analysis and charting, page-38
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