Is TA a meme or not?

[Anonymous No.11326603]

Everyone but /biz/ is high on TA. What do? I'm trying to learn right now and study it as best as I can. The back of my head keeps telling me to listen to /biz/ though. /biz/ would never lie to me. Should I be a student of TA or will it warp my brain and make me a robot?

[reluctant kneepad girl No.11326609]

its not
but what you need for TA is common sense not A.I.

[Anonymous No.11326651]

>>11326609
I don't see any common sense in TA. Just graph autism. The only thing that seems to work about it is the fact that whales use bots that use it. I feel like without that, TA would be wrong and it would just be a bunch what crypto reall is - hype and speculation.

[Anonymous No.11326663]

>>11326609
lmao implying you can beat the market drawing triangles and looking for squirrels sitting on clowns' shoulders

[Anonymous No.11326669]

Its complete bullshit but the fact some people think it works can be used

[Anonymous No.11326856]

>>11326669
So TA is like fiat? It exists because of trust alone?

[reluctant kneepad girl No.11326871]

>>11326651
>I don't see any common sense in TA.
you no cut out for TA then

>>11326663
yes

[Anonymous No.11326966]

>>11326603

Academics largely see technical analysis as pseudoscientific nonsense. Stock prices are random, says efficient market theorist Burton Malkiel, author of the classic A Random Walk on Wall Street. Investors who rely on technical analysis “will accomplish nothing but increasing substantially the brokerage charges they pay”, he writes.

Legendary investors such as Warren Buffett and Peter Lynch agree. Buffett has said he “realised that technical analysis didn’t work when I turned the chart upside down and didn’t get a different answer”. To Lynch, charts “are great for predicting the past”.

https://www.google.com/amp/s/www.irishtimes.com/business/personal-finance/charting-the-stock-markets-does-technical-analysis-work-1.314


There is some support for support resistance but buying and holding + fundamentals is best for the long term approach

[reluctant kneepad girl No.11326976]

>>11326966
Random Walk Down Faggot Street is 100% FUD made to keep gulible idiots from trying for trade

[Anonymous No.11326990]

>>11326603
ta works if bitcoin is stable but the moment bitcoin takes a nosedive all ta goes out the windows

[Anonymous No.11327044]

>>11326990
u wot

[Anonymous No.11327066]

>>11326976
Can you go back to talking like a retard?
Me dun like new rkg nuuuu

[Anonymous No.11327086]

>>11326663
>implying you can't manipulate the market knowing NPC's follow TA like the bible

never gonna make it

[Anonymous No.11327103]

cause /biz/ is filled with retard brainlets

knowing ta doesn't mean you'll accurately predict every trend everytime. what it helps you do is analyze different charts overtime to see how they react to certain things and how indicators work to help you predict the next move.

inexperienced traders always give in to their feelings and hop from trade to trade and cry when their prior hold goes up in value.

an experienced trader with ta knowledge will have a game plan before he even entries. they think about where the bottom might occur and confirm their thoughts with certain indicators like rsi, macd, double bottoms etc. if they believe that this is a good opportunity to buy, they set their targets depending on prior resistances or fibonacci retracements etc.

think about it like this, markets are just like a video game. when you first start playing a vidya youre shit as fuck cause u dont know the controls and whenever you get too into it your heart starts racing and you fuck up. but after a while you get used to the game and start getting a hold of the controls and what to do when something happens.

same with charts, you need to lose your emotions and let your logic and plans decide.

atleast for crypto, it literally is internet fucking money. none of these projects really have a product that will see daylight and daily use until ATLEAST 2020+. therefore it is perfect for TA because it literally is a bunch of traders trying to increase the amount of btc they have by buying when they think is right and dumping on inexperienced fomoing traders.

learn it anon, it really isnt that difficult. you'll benefit so fucking much, not only in crypto but even in shit like usd/eur, gold and silver, stocks etc.

[Anonymous No.11327146]

>>11327103
What indicators or books do you recommend to newbies?

[Anonymous No.11327196]

>>11327146

https://www.investopedia.com/university/technical/techanalysis8.asp

use tradingview.com

beginner plan lets you use 3 indicators

for a beginner start using RSI, on balance volume, MACD and stochastic rsi.

https://www.investopedia.com/terms/r/rsi.asp

https://www.investopedia.com/terms/o/onbalancevolume.asp

short reads, don't let the formulas on their freighten you. just understand what these indicators mean.

rsi for instance gives you a better outlook over the trend that is going on

obv and classic volume candles show you how strong the move is. if OBV is increasing on an uptrend it means that volume is flowing into the stock/crypto and an increase in price is probable.

after a while of getting used to you can spot trends just by looking at a daily/12 hour/4hour chart.

ps, i very rarely use anything less than 1h chart. they distract you and make you fomo. my go-to s are daily, 12h and 4h.

[Anonymous No.11327238]

>>11326966
Have you ever thought to actually verify what these people believe, or are you happy just to accept what they claim? Or what anyone states about Technical Analysis, for that matter.

[Anonymous No.11327249]

>>11327196
This is a very helpful post, anon. Thank you!

[Anonymous No.11327276]

>>11326603

It probably has a little bit of value because people believe it has value, thus it becomes a self-fulfilling prophecy. Basically it's useful for knowing when people who believe in it are going to buy.

[Anonymous No.11327291]

>>11327196

heres a ta i did 3 days ago on ZRX (0x)

i bought at this level 9.7k 3 days ago and sold today at 11.900 sats.

easiest 20% increase of my life.

4 hour chart, you can see that im not lying because the 12000 sats move hasnt happened yet on the graph im posting.

i saw the double bottom, saw the bearish trend reversal along with double bottom and bang bang

[Anonymous No.11327336]

>>11327291
Ta is crucial to make money in crypto, but this chart is shit. That's not a double bottom, those lines don't mean anything on their own and you bought in after the coinbase leak. Eat pant.

[Anonymous No.11327354]

>>11326966
Yeah prices are randomly just going up 7% a year on average for 100 years just randomly, totally random, no trend to see here.

[Anonymous No.11327364]

>>11327336

ye cuz ETC increased a lot after coinbase rumours right?

eat shit you linkie, im swingtrading your shitcoin every week. keep hodling so i can dump these bags onto your head.

[Anonymous No.11327395]

>>11326603
Elliot Waves, Fibonacci and meme lines are shit, some indicators are good tho

[Anonymous No.11327572]

>>11327146
Go to babypips and run through the courses there.

[Anonymous No.11327632]

thanks for the input frens, I guess I'll keep learning. /biz/ is always right.

[Anonymous No.11327640]

>>11326603
PEPE IS NOT AN NPC