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49402871 No.49402871 [Reply] [Original]

When I started crypto, I followed several youtubers and TradingView pages and became familiar with trading on TA

When you start out, you're made to believe that TA charts map market psychology; that is, how millions of investors make trade decisions in mass, and this somehow, organically, produces these chart patterns, and Fibonacci levels that you can analyze to predict future trends.

Biz will say TA is astrology, doesn't work, is not real, but biz is only half right. Let me explain.

If you have the firecharts indicator, you would have seen that the "inverted hammer" on the weekly chart was orchestrated by a single mega whale last week. Inverted hammers are a sign of trend reversal. Now the charts are playing out based on that trend reversal signal. TA works in crypto, but it's all fake.

>> No.49402879
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49402879

These 3 rules are your ultimate guide to winning in crypto.

1. Understand that retail has no influence on price action. The charts are 100% fake. Not say, 80% fake with a little bit of retail influence. No. They are quite literally 100% printed as if done with pen & paper. Failure to understand and accept this fact will result in not making it

2. Those who print the charts have a vested interest in making new comers believe that the charts are real and represent organic market psychology. This is why biz is only half right. TA does work, but the TA patterns are intentionally printed.

3. Once you've accepted the above, the game to win in crypto is to swim under the fin of a whale and front run them. Examine the TA that they're printing, and start buying or selling based on that.

Crypto is a scam. There's no denying that. But it's legal, and can still be profitable if your perspective is accurate, and you play the game right.

e.g The whales have printed a fake trend reversal pattern. They're going to pump it for the next few weeks, possibly to the 21 or 50 Weekly SMAs. You need to always be closing. Ladder up your sell orders if you dont want to look at the charts. Either way, its time to start dumping your bags on each leg up.

>> No.49402900

ok, so what you've just described is Wycoff's 'single adversary' approach to market psychology

>> No.49402907

DR:NS

>> No.49402916

>organic conversations
so, where DO i buy these indicators

>> No.49402926

Cool
Now show me the evidence that TA works.
Not anecdotes, evidence. TA is quantative so it should be very easy to just analyse how certain signals perform and show the data. Every bit of research I have seen on the topic suggest that these chart patterns are not profitable to trade.

>> No.49402968

>>49402926
Do it yourself fag

>> No.49402974

>charts are fake
>crypto is a scam
>but you can still win some money
lol just admit it OP, you're a deluded addict rationalising your losses

>> No.49403065

>>49402900
Exactly. OP is talking about the composite man. He's not wrong tho

>> No.49403468

>>49402879
>They're going to pump it for the next few weeks, possibly to the 21 or 50 Weekly SMAs
that's ~40k if not higher

>> No.49403517

TLDR: the sub 29K Binance bidder fucked OPs short and now he's revenge selling every single bounce hoping to get in profit while damning the entire market as manipulated because it isn't going the way he wants it to go.

>> No.49403519

>>49402926
>Not anecdotes, evidence.
What evidence would you accept? Describe an experiment that would be convincing to you.

>> No.49403522

>>49402871
>I followed several youtubers and TradingView pages and became familiar with trading on TA
Wowoweewow, if you also read a book you'd be a Bloomberg analyst by now, congrats

>> No.49404345

I won't read that cringe. Come back when whatever bs strategy you described was consistently profitable for 3 years.

>> No.49404449

>>49402871
Nobod gives a fuck about your anal beads patterns, it’s all bullshit. And the worst part is typical biztard fashion you also add in your shizo le sekret club whale manipulation bullshit on top.
A chart is the price change of the PAST, it does not influence the future, case closed.