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Author Topic: Channel breakout?  (Read 1233 times)
GriTBitS (OP)
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December 24, 2013, 07:23:47 AM
 #1

What do you guys think? maybe a potential breakout of the channel.



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F-bernanke
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December 24, 2013, 07:25:33 AM
 #2

Yep, but not on Stamp though Sad
byronbb
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December 24, 2013, 07:28:23 AM
 #3

Volume sucks.  Everything happening now is noise.

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December 24, 2013, 07:35:42 AM
 #4

I would be convinced that the bear market is over once we break 900 Smiley Still a while to go.

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December 24, 2013, 08:05:47 AM
 #5

The indicator below the purple line speaks volumes about what's going on.
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December 24, 2013, 08:08:28 AM
 #6

If doesn't happen with volume it's fake.

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December 24, 2013, 08:24:08 AM
 #7

Something is happening here.

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December 24, 2013, 11:06:08 AM
 #8

You should use log scale for building channels on such a volatile market

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December 24, 2013, 12:35:28 PM
 #9

I hate technical analysis, when it does something unexpected, then new lines will be drawn and everyone will say that is makes sense. Its a nice retrospective tool though.
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December 24, 2013, 12:55:53 PM
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I hate technical analysis, when it does something unexpected, then new lines will be drawn and everyone will say that is makes sense. Its a nice retrospective tool though.

That's why I call it chart astrology. You can always twist it and reinterpret it until it says what you want it to say. Every now and then, someone gets a few guesses right in a row and is hailed as a prophet until things go the other way and then the cycle starts anew.
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December 24, 2013, 12:58:28 PM
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I hate technical analysis, when it does something unexpected, then new lines will be drawn and everyone will say that is makes sense. Its a nice retrospective tool though.

That's why I call it chart astrology. You can always twist it and reinterpret it until it says what you want it to say. Every now and then, someone gets a few guesses right in a row and is hailed as a prophet until things go the other way and then the cycle starts anew.

lol @ you  Grin
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December 24, 2013, 01:28:19 PM
 #12

Volume sucks.  Everything happening now is noise.

hmm..

Ultra low volume, whilst trending down after a bounce from a crash that failed to take out any meaningful resistance levels.

....WhAt hApPeNs NeXt?

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December 24, 2013, 01:48:31 PM
 #13

In other news, bitcoin broke through an arbitrary line on a graph today. Film at 11.

Much of TA indeed is astrology and broken clocks. It's not that the methods themselves are bad, but many users of TA lack the statistical or scientific backing behind their arguments to make good predictions. It simply boils down to misuse of statistics. For example, what's the confidence interval on your downtrend channel hypothesis? How much of a "channel break" would you need for it to be statistically significant?
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