Quote from: tottong on Today at 04:03:38 PM

Quote from: heartbit.offical on September 27, 2023, 07:41:19 AM

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

There are no accurate predictions because everything can change at any time and using past charts in analyzing price predictions will provide a lot of insight, but we cannot rely on these conditions completely. People will probably make a combination of many technical things to predict prices and we will look at the history based on observations. Trading techniques and patterns can change according to the course of the coin we are trading and if at a certain time the strategy has to be changed then run another plen as a step.

That's why people say trading is difficult and not everyone is able to do it, but when you dare to take risks to practice your skills then I'm sure we will slowly get an idea of how to trade. Finally, we need to rely on our own instincts to decide on conclusions based on a combination of several other things that we can find.

Charting and technical analysis could never been that precise or something that do works most of the time and with that normal behavior and unpredictability of this market then its not really a shocking thing honestly.

There are really just that people who are really that skeptical about these TA results without even trying to look at on whats its relevance in regarding about trading. Yes, it cant be precise but doesnt mean that it would really be useless because sooner or later you would be able to find out that you would really be needing up these things just for you to have atleast on having some ideas on what you would really be gonna dealing with. You cant really just rely with news like forever because we know that events and happenings doesnt really come often or happen all the time.

This is why you would really be needing to have that skills and awareness on how to make use or able to plot some charts.