Quote from: Flexystar on June 21, 2023, 04:10:59 PM

I am not sure if I will ever understand the seriousness of trading view and technical analysis but for the hardcore trader and new comer this article is just great help. Just lovely how you have extracted detailed info about it. I think I have seen some other thread in similar ways, may be it was you only and the cleo Website.

I don’t really believe in TA to the fullest. The pattern you shown, how is it based on and what are the “chances” that it will bounce back at particular period of time as shown in the trading charts above?

Let us say I learn the TA to fullest of my knowledge. How do you concur about the events repeating themselves so keenly? Consider me curious and naive in TA.

I appreciate the positive comment, thanks.

Every trader understands that it's impossible to predict market moves with 100% certainty. However, using technical indicators can help us make better decisions. These indicators and patterns give us clues about how buyers and sellers behave in the market. For instance, with a bear flag, when prices consolidate and volume is low, it means neither buyers nor sellers have control. But when there's a breakout, it suggests that sellers are gaining momentum again, giving us an idea of how to position ourselves.

The concept of events repeating themselves in the market is often attributed to the belief that human psychology plays a role in shaping market dynamics. Market participants tend to exhibit similar patterns of behavior when faced with similar market conditions, leading to the repetition of certain patterns over time.

You can also check out the Bulkowski statistics here about flag patterns, in terms of breakout, throwback, etc stats. He has one of the most extensive research and tests on chart pattern and where he shared all the stats he got. https://thepatternsite.com/flags.html