Do you believe Technical Analysis?

[Questat]

Each kind of analysis plays a different role, each piece of research relates to a certain timeframe. Technical analysis can help you act on fundamental research that you have done at the right time, or identify the value of the instrument that you are analyzing.

Do I believe in technical analysis as a concept? Of course, it would be highly irrational to say that all activity is random and that chart triggers or patterns are always random and with no influence. Do I believe that it's highly accurate? That depends on how it is utilized. I agree with the first post that TA is not 100% accurate. This is a fact that a new trader should find quite quickly into their first try of TA

Besides, TA has been made not to become perfect as there is no such thing in trading especially, as we are a volatile market. But wondering why traders are using this. This means that even though it was not 100% accurate, still it gave us an idea of what we were going to do next. Of course, there is no perfection in trading and no matter how many years you've been doing this, losses still happen. But as long as you trust your doings and your TA, that seems a ticket to survival and profit.

[Mauser]

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."

What are your thoughts on this matter?

Candlesticks are a great chart tool, because it not only shows one price for one day, it also gives indication on how much the price moved during that day. Charts in general are a accumulation of past prices and their visualization let's already assume that there are trends. Historically we can observe that there are boom and bust cycles that influence prices. There isn't one asset that only rises or only falls in price. Volatility is a big part of trading and using technical analysis helped me a lot to find the right trading signals. The landscape of technical indicators is huge, we need to decide for ourselves which ones we want to focus on, because there can be conflicting signals. Short term trends can show the opposite direction of longterm trends and it's up to the investor on which signals to focus more. One issue with technical analysis is that the shorter the period we look at, the more noise will get into our analysis. That is why I like to focus more on medium to longterm trends, there the chance of falling for noise as a trading signal is much smaller. Also using multiple indicators to validate our analysis is a good approach. I would recommend anybody to mix technical analysis with fundamental analysis and not only rely on trading signal alone, better to double check our research before committing a lot of capital.

[qwertyup23]

I do believe that there are some technical indicators that can make you think "huh, people are extra bullish/bearish on this certain cryptocurrency/asset". But there's no single TA that would make you think "huh, this will 100% for sure go up/down".

TA should only be used to skew odds by a few percentage points. Not something that would make something guaranteed to move a certain way.

I definitely agree with your statement.

I mean, there is no secret formula that can guarantee a trader a 100% safe return and profit from their respective trades. If such technique or skill were to exist, then everybody would have been millionaires by this point and trading would be exploited.

Technical analysis is the skill where you incorporate all the intrinsic and extrinsic factors in determining and forecasting the price of a certain cryptocurrency. While it may not yield 100% guaranteed results, it gives you at least a basic understanding on what the current market situation is. In addition, this shows certain signs where it can affect your decision whether to invest on a certain crypto or not.

[Hamphser]

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."

What are your thoughts on this matter?

Candlesticks are a great chart tool, because it not only shows one price for one day, it also gives indication on how much the price moved during that day. Charts in general are a accumulation of past prices and their visualization let's already assume that there are trends. Historically we can observe that there are boom and bust cycles that influence prices. There isn't one asset that only rises or only falls in price. Volatility is a big part of trading and using technical analysis helped me a lot to find the right trading signals. The landscape of technical indicators is huge, we need to decide for ourselves which ones we want to focus on, because there can be conflicting signals. Short term trends can show the opposite direction of longterm trends and it's up to the investor on which signals to focus more. One issue with technical analysis is that the shorter the period we look at, the more noise will get into our analysis. That is why I like to focus more on medium to longterm trends, there the chance of falling for noise as a trading signal is much smaller. Also using multiple indicators to validate our analysis is a good approach. I would recommend anybody to mix technical analysis with fundamental analysis and not only rely on trading signal alone, better to double check our research before committing a lot of capital.

If you wont really be making  yourself seeing those candlesticks  then how you would really be able to read out those charts and price behaviors? It is really just that hard to imagine for someone to make up some

trades but doesnt really make himself getting involved with some technical analysis aspects on which it is really that hard or impossible that you do make out positions out of nowhere. This is why it would really be just that right that you should really know the basic principles on how to make use of it because it would really be something so useful and something that could really be putting the advantage if you do have
the knowledge on how to set up those indicators knowing that the market is unpredictable but at least you could really be able to plot those possible price movement on which you could be able to observe.

Somewhat its not really that precise but at least you do already have the idea on what you should gonna do, comparing into those people who do just simply point out their fingers
and making some wild guesses on which its never been recommendable on having this way and its not really that something that could make you succeed on this type of career.

[BenCodie]

Each kind of analysis plays a different role, each piece of research relates to a certain timeframe. Technical analysis can help you act on fundamental research that you have done at the right time, or identify the value of the instrument that you are analyzing.

Do I believe in technical analysis as a concept? Of course, it would be highly irrational to say that all activity is random and that chart triggers or patterns are always random and with no influence. Do I believe that it's highly accurate? That depends on how it is utilized. I agree with the first post that TA is not 100% accurate. This is a fact that a new trader should find quite quickly into their first try of TA

Besides, TA has been made not to become perfect as there is no such thing in trading especially, as we are a volatile market. But wondering why traders are using this. This means that even though it was not 100% accurate, still it gave us an idea of what we were going to do next. Of course, there is no perfection in trading and no matter how many years you've been doing this, losses still happen. But as long as you trust your doings and your TA, that seems a ticket to survival and profit.

I think that the bigger cause of losses would be on the emotional side, than inaccuracy of TA. I am sure (if you have traded enough) you will know that the market not only can sometimes throw curveballs that force you to reevaluate your TA, it always throws curveballs that make you question your decisions and positions...a new trader will give in and constantly make adjustments because they are not completely confident in what they are doing and/or are fearful of losing capital. A seasoned trader knows that the best way to trade, is to set SL/TP and let all positions come to their final outcome.

[carlfebz2]

Each kind of analysis plays a different role, each piece of research relates to a certain timeframe. Technical analysis can help you act on fundamental research that you have done at the right time, or identify the value of the instrument that you are analyzing.

Do I believe in technical analysis as a concept? Of course, it would be highly irrational to say that all activity is random and that chart triggers or patterns are always random and with no influence. Do I believe that it's highly accurate? That depends on how it is utilized. I agree with the first post that TA is not 100% accurate. This is a fact that a new trader should find quite quickly into their first try of TA

Besides, TA has been made not to become perfect as there is no such thing in trading especially, as we are a volatile market. But wondering why traders are using this. This means that even though it was not 100% accurate, still it gave us an idea of what we were going to do next. Of course, there is no perfection in trading and no matter how many years you've been doing this, losses still happen. But as long as you trust your doings and your TA, that seems a ticket to survival and profit.

I think that the bigger cause of losses would be on the emotional side, than inaccuracy of TA. I am sure (if you have traded enough) you will know that the market not only can sometimes throw curveballs that force you to reevaluate your TA, it always throws curveballs that make you question your decisions and positions...a new trader will give in and constantly make adjustments because they are not completely confident in what they are doing and/or are fearful of losing capital. A seasoned trader knows that the best way to trade, is to set SL/TP and let all positions come to their final outcome.

Inaccuracy of TA would really be a big factor on which it would really be affecting your emotional aspect on which it would really be just that normal that you would be having those reactions on the time that you are
really that experiencing it on your very own eyes. Just like been said by most people on which it is really that relevant on making use of technical indicators and its impossible that you aren't wary that these things arent that precise but doesnt mean that it would be not relevant towards trading because this is the most common tool that would really be used on the time that you do touch up this space.

If you wont really be making  yourself seeing those candlesticks  then how you would really be able to read out those charts and price behaviors?

This thing feels like that you are really that walking in a road without having no lights on which you dont really know on where you would really be
going and this is really that something that you must really that needed to be learn so that you could really survive this market or else then you are just simply doing gambling
on which making up some guesses whether the price would be going up or down without any basis.

[JeffBrad12]

Each kind of analysis plays a different role, each piece of research relates to a certain timeframe. Technical analysis can help you act on fundamental research that you have done at the right time, or identify the value of the instrument that you are analyzing.

Do I believe in technical analysis as a concept? Of course, it would be highly irrational to say that all activity is random and that chart triggers or patterns are always random and with no influence. Do I believe that it's highly accurate? That depends on how it is utilized. I agree with the first post that TA is not 100% accurate. This is a fact that a new trader should find quite quickly into their first try of TA

Besides, TA has been made not to become perfect as there is no such thing in trading especially, as we are a volatile market. But wondering why traders are using this. This means that even though it was not 100% accurate, still it gave us an idea of what we were going to do next. Of course, there is no perfection in trading and no matter how many years you've been doing this, losses still happen. But as long as you trust your doings and your TA, that seems a ticket to survival and profit.

the thing with TA is that despite the fact that it might not accurate, but if general traders out there are doing the same thing depending heavily on the TA itself then it will be like self fulfilling prophecy in which its gonna become effective because people make it effective, if majority are following TA guide book then you also follow it to know where the direction is going.
its just nowadays sometime the market are doing unexpected because the whales also know how to take advantage of these TA to favour their own interest.
so its not really perfect solution but sometimes it works, and with trading here, where everything is full of speculation, having thing that sometime work is already good enough.

[FahriZah]

Yes i believed technical analyses but very good to know fundamental analysis before first time so of somebody want to know about technical analyses than first need yo know as well fundamental analysis i hope.

[Usasauki2004]

Left to me, I believe in technical analysis. Technical analysis involve the use of candle sticks to determine the direction of the market. Have being in Forex market (BTCUSD) like wise crypto market, using pure technicals was favourable with a mix of price action, Put in consideration engulfing candles, doji, pin bars and others. With these candles pattern you can predict whether the market will go long or short and at the same time you have to be flexible because it can't always go in Ur direction.

[Jatiluhung]

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

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."

What are your thoughts on this matter?

Market movement patterns are sometimes always almost the same. So if a pattern was formed in the past and then formed again now. So usually the market direction is always in accordance with the pattern formed. Chart Pattern is also something that we have to memorize in technical analysis. Because if a Chart Pattern is formed, it is often always in accordance with the technical analysis itself. So I really rely a lot on basic technical analysis. But I don't understand more complicated analysis.

[Zee27]

Technical analysis places significant emphasis on using historical price data to forecast future price movements. But, it is important to note that future performance may not necessarily be influenced by past prices.

I had this same discussion with a group of friends and we realised this.

[Timmzzy]

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

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."

What are your thoughts on this matter?

In my trading journey, have been seeing things on the chart repeats its self, so past charts actually do help you to have that 100% confluence that the trade you are about to embark will definitely play out fine so past actually gives you that assurance to correct any mistakes you have been making and also help you not to have doubts.

[Rupok]

The fact that the market is generally unpredictable causes some doubt in such predictions. I don't think technical analysis alone can make a good guess prediction accurate.  Because technical analysis is not enough to make profit in some cases.  We are now in a bear market so the market direction and price changes with the flow. There are different chart strategies used by investors and traders.  I think technical analysis is very necessary for trading.  Market movement cannot be determined without technical analysis.

[wxa7115]

The fact that the market is generally unpredictable causes some doubt in such predictions. I don't think technical analysis alone can make a good guess prediction accurate.  Because technical analysis is not enough to make profit in some cases.  We are now in a bear market so the market direction and price changes with the flow. There are different chart strategies used by investors and traders.  I think technical analysis is very necessary for trading.  Market movement cannot be determined without technical analysis.

Technical analysis is a very deep discipline, and while many traders concentrate on a single time frame, the truth is that if you use different time frames for the same market then you will be able to see more clearly where the market is headed and take a better decision, this will help you avoid unnecessary trades, reduce the fees you have to pay and reduce the number of taxable events as well.

But very few people take the time to actually master technical analysis, which is why some people think it is completely ineffective, when it is their skill level that is simply too low to use it effectively.

[Jatiluhung]

The fact that the market is generally unpredictable causes some doubt in such predictions. I don't think technical analysis alone can make a good guess prediction accurate.  Because technical analysis is not enough to make profit in some cases.  We are now in a bear market so the market direction and price changes with the flow. There are different chart strategies used by investors and traders.  I think technical analysis is very necessary for trading.  Market movement cannot be determined without technical analysis.

To increase the accuracy of analysis in trading, we must carry out more than just technical analysis. But this technical analysis must also be supported by stronger analysis such as fundamental analysis. So that adjustments between the two analyzes will be able to create price movement predictions with a higher level of accuracy. In fact, usually with just fundamental analysis we can see where the price is going. Now, with technical analysis, we can see the movement in more detail. Because we will know the support and resistance points which are always important in confirming whether there will be a continued increase or failure to increase and experiencing a decline again. So technical analysis alone is not enough. Because it must also be accompanied by fundamental analysis.

[Xcode7]

The fact that the market is generally unpredictable causes some doubt in such predictions. I don't think technical analysis alone can make a good guess prediction accurate.  Because technical analysis is not enough to make profit in some cases.  We are now in a bear market so the market direction and price changes with the flow. There are different chart strategies used by investors and traders.  I think technical analysis is very necessary for trading.  Market movement cannot be determined without technical analysis.

There are no accurate predictions, a prediction is a possibility that we believe in after doing some analysis of what will happen in the future, of course it is still a question mark which means nothing is certain, but regarding technical analysis I think it has quite a big influence or is often used in predicting what will happen. will happen in the future.
I really believe in technical analysis even though that is not the only indicator that we use, but so far there is a lot of evidence that analyzing Bitcoin is very influential from what happened in the past.

[palle11]

The fact that the market is generally unpredictable causes some doubt in such predictions. I don't think technical analysis alone can make a good guess prediction accurate.  Because technical analysis is not enough to make profit in some cases.  We are now in a bear market so the market direction and price changes with the flow. There are different chart strategies used by investors and traders.  I think technical analysis is very necessary for trading.  Market movement cannot be determined without technical analysis.

One thing that is for sure is that technical analysis for history. Like we know what happens with bitcoin during halving, that is after halving and that is bull season. That is what reflects in charts which forms the technical analysis. So if you check charts of last bitcoin halving you are most likely going to see more of bull candlesticks and that is what will be represented as what will happen again after halving, that is how the price is analysed. Technical analysis is important for traders to monitor the market but it requires patience and the longer time frame the better for the chance of a winning trade. Using smaller time frame may not give a better result except for scalping but a day trader or swing trader prefers a longer time chart analysis.

[xzy887]

In fact no one can make predictions that actually turn out to be true. But yes, knowledge of past markets is essential if one wants to trade in the market. You can analyze from the past, what was the condition of the market then. Which gives you a good or bad sense of where Bitcoin is right now. On the other hand, technical analysis is very important. But it is never good to think yourself too wise.

[tygeade]

The fact that the market is generally unpredictable causes some doubt in such predictions. I don't think technical analysis alone can make a good guess prediction accurate.  Because technical analysis is not enough to make profit in some cases.  We are now in a bear market so the market direction and price changes with the flow. There are different chart strategies used by investors and traders.  I think technical analysis is very necessary for trading.  Market movement cannot be determined without technical analysis.

I believe that TA is something that would help you try to predict but more like speculate as well. Predict is something that you try to do in order to know what it would happen, but I would guess that it is going to be more speculation, which would be just guessing and all. I know that it is going to be something that would be helpful one way or another that we could end up with a good result.

I think the best case would be just doing your TA and you could do something that will be profitable for you for the long term. I get that it is going to result with you doing a good job for one or the other. It should be quite important.

[Poker Player]

Not really. I understand that people who make trading work for them is because similar to poker, it helps them make the right decisions most of the time, which outweigh the losses with profits when the analysis fails. But seeing that very few traders are profitable in the long term, I am far from believing that it is available to everyone, as many trading courses and influencers try to sell.

In fact no one can make predictions that actually turn out to be true.

You are wrong. Those who master it can make correct predictions a majority of the time.

On the other hand, technical analysis is very important.

Here I think you contradict yourself, lol.