Is basically like coming to America and saying "English doesn't work" because you only speak Mexican
>>43738955kek the absolute state of TA fags
>>43738979Think about it though. Does a candlestick display the open, close, high, and low prices over a certain period of time? Yes? That means it's working. Just because you can't read it doesn't mean it doesn't work. TA doesn't tell you the future but if you get good at it, you can confirm developments in the market very early.
>>43738955TA doesn't "work" or "not work." It's just analyzing information. Big brains can profit from it.
>>43739210Yeah. And I think small brains can too if they get out of their own way. I.e. don't come into it thinking you will learn how to predict outcomes on an individual basis.
>>43738979cope, sold BTC at $65ksold AVAX at $138not telling you when I buy back
TA fags thought we were going back to 20k lol
TA works but price action and volume aren't the only pieces of data and they are the most conventional, with the most eyes on them, so they are the first point of attack for institutional manipulation.
>>43738955TA is a self-fulfilling prophecy
i only trust moon cycles
>>43739123>candles are TAlol
>>43739123TA is like schrodingers cat. By observing it, or in this case, finding a model that predicts the future based on the past at greater than a 50/50 chance, you change the behavior of the system. And once others catch on or your trading becomes a bigger portion (due to TA success or whatever) you're model needs to be updated to take that into account.
>>43741590Candles are a type of indicator, as described by actual life long Japanese practitioners like Seiki Shimizu in his book "The Japanese Chart of Charts". TA as a term is used broadly here and includes price action. The distinction between TA and FA is clearly that TA is a means of analysis that forgoes fundamental concerns like news etc and focuses on the chart alone.
>>43741861That idea seems to be more specifically linked to pattern trading within TA. The limit to that line of thought is, for example, that a steep uptrend on a candlestick chart with no pullbacks HAS to be made up of a series of consecutive green/bullish bars. You can't have an uptrend if every bar in the sequence closes lower than it opened. It doesn't matter who catches on to that fact or not. It will always be that way. Similarly, an rsi is based on a calculation of past prices. People who say "rsi doesn't work on shit coins" are making the false assumption that in order to "work", an rsi indicator must predict the future or somehow be "right". As long as the rsi indicator is doing this: RSI = 100 – [100 / ( 1 + (Average of Upward Price Change / Average of Downward Price Change ) ) ], then it is "working". The ability of someone to utilize it in a trading process, manage their position well and make money is another matter. No amount of TA or FA will make you good at managing money.
>>43738955TA sometimes workslike astrological predictions
>>43740705>he didn't sell and short at 69klook at this loser lmao
>>43742357Yup. You have to try and be bigger when it works and smaller when it doesn't, and don't wait until the market proves your TA is invalid/unfulfilled to exit. But that gets into money/position management, which isn't typically discussed on its face around here.
My custom ichimoku works for avax
>>43740705avax? tell me when to buy back pls
>>43738955Lol market makers hire people who went through dozens of stochastic processes/calculus classes, or engineers building ML models and who do highly advanced math on a daily basis and you think your randomly placed memelines are gonna predict shit? kek, the absolute state of TA-fags
>>43738955>no seriously guys I just read my horoscope and it's totally accurate it sounds just like me
>>43738955Both on chain analysis and ta works. Not just only for btc, but for other major altcoins such as ethereum Solana avax dot as well
>>43738955Avax don't need no charts. Literally printing money BRRRRRRRRRRR
You don't need TA for Avax. buy now you will thank me later
>>43743078Where can i buy Avax anon?
When you put classical charting technical analysis into its proper context its actually remarkable that a model built almost 100 years ago has held up so well and is still applicable to this day. When technical analysis was created they were literally trading out of newspaper scrappings with rulers and pencils. Schabacker built the TA model using only two data points (volume and price action) he remarkably was able to identify and classify distribution and accumulation patterns that still very often present themselves in charts. It's worth going back and learning classical charting principles because it is just one of many tools, but there's so much more data available to us than was available in Schabackers day, to be only a technical analyst is short sighted.