I do agreed not to buying a scam project or ICOs that you dont recognize, but how can you define a project a Scam or not?? Except for lending coin which have we all know as Ponzi scheme that it is a scam project from the very 1st. Because when buying a coin you do have detailed plan about why you buying this coin.
For the first half paragraph i certainly agree with you to not buying a new ICO coin that already gaining 5-10x price from the initial ICOs price, but what about the major coin such as bitcoin, ethereum, xrp, stellar? And mostly i think this kind of technique define errors but dont define about how to fix the mistakes, support and resistance is just a minor indicator, if you're still riding the trend then i dont really have any problem buying higher when the price got a high volume, and sold all of my capital if the price declined and the trend begin shifting, start buying bitcoin since last year in $4k range when people start spouting about bitcoin wont reach higher price, it will burst into bubble and i do hold it until last week when price decreased below $10k. I believed most of people here dont even know how to indicate a top or bottom, so we got no idea if the price has reach bottom or top yet, because no one can predict a future, but instead we can make an exit plan before begin to trade and follow that plan