stock market crash

[Whorty]

That's not true.

The connecting lines are always the ones with the most confluence. i.e. the ones candles interact the most with. That's basic of charting. Amazingly you can nearly always see this confluence even when a market was 1% of its current size when extending into history.

If there's a linechart I've published without this confluence that I'm only cheating myself and shall not profit from it. That is not in my interest. Always try to keep the charts as clean as possible.

Regarding bias, I've noticed that bias fades over time when there's less reason for you to be biased. And that bias only appeared in the first place because of the worry of not having enough money. Money is emotional, no arguing that.

Unfortunately Scoot, Paralytic is right; you're putting your own bias into your conclusions. This is always the case with charts. You won't see this though as the chart is 'showing' you what yo want to see and hence your bias is being confirmed.

If you looked at this will a bit more of an open mind your charts might show something different. You've been calling 4500 for FTSE now for months and at no time as it looked like going that far south.

Oh well.

[Old Greg]

Unfortunately Scoot, Paralytic is right; you're putting your own bias into your conclusions. This is always the case with charts. You won't see this though as the chart is 'showing' you what yo want to see and hence your bias is being confirmed.

If you looked at this will a bit more of an open mind your charts might show something different. You've been calling 4500 for FTSE now for months and at no time as it looked like going that far south.

Oh well.

October now.

[BABABlackSheep]

Unfortunately Scoot, Paralytic is right; you're putting your own bias into your conclusions. This is always the case with charts. You won't see this though as the chart is 'showing' you what yo want to see and hence your bias is being confirmed.

If you looked at this will a bit more of an open mind your charts might show something different. You've been calling 4500 for FTSE now for months and at no time as it looked like going that far south.

Oh well.

The charting software was written by humans.

So called experts are reading the charts, and are peddling there own conclusions based on plotting candlesticks, which are nothing more than showing opening price, closing price, high lows over a certain period.

I mean come on, it’s common sense, you have a program written by a human, that is analysed by other programs written by humans.

So..FTSE 100, technicals:

Hourly = Strong Buy
Daily = Neutral
Weekly = Strong Sell
Monthly = Strong Sell

I know this, because my free app tells me.

If you want to make money doing technical day trading, then your best bet is to use other peoples money to do it, or write a book on how to do it.

[scooterscot]

Just out of interest, what bias am I being accused of? Bull / bear?

[Old Greg]

Just out of interest, what bias am I being accused of? Bull / bear?

Fantasy.

[scooterscot]

Unfortunately Scoot, Paralytic is right; you're putting your own bias into your conclusions. This is always the case with charts. You won't see this though as the chart is 'showing' you what yo want to see and hence your bias is being confirmed.

If you looked at this will a bit more of an open mind your charts might show something different. You've been calling 4500 for FTSE now for months and at no time as it looked like going that far south.

Oh well.

Never consider the chart as a 100% certain of an outcome. When charting you're drawing what is probable rather than what is possible.

If folks don't like TA, that's totally cool. Just ignore it.

[BABABlackSheep]

Never consider the chart as a 100% certain of an outcome. When charting you're drawing what is probable rather than what is possible.

If folks don't like TA, that's totally cool. Just ignore it.

My point exactly.

It’s probable because you have a bunch of computers reacting to exactly the same thing you are seeing. They are just doing it a lot quicker.

It’s a self-fulfilling prediction.

Honestly, I think you guys do the TA because you enjoy it...and that’s fine.

Long as you don’t try and convince others, then I don’t see an issue.

[Whorty]

Just out of interest, what bias am I being accused of? Bull / bear?

The bias is that you're selecting which points to connect together to show the 'trend'. There are hundreds of points on the graphs, but you select the ones that support your view.

take your latest chart, there are so many places you could have chosen but you went for 2001 and 2009 points to extrapolate to where your bias thinks the FTSE will land (soon!). You have chosen the dot.com bubble and the financial crisis as indicators of where the market might go during the pandemic (even though you say the pandemic isn't the reason the markets have dropped).

See why your applying your own bias?

Yo have ignore the trend in the market since 2009; that is, since new controls were forced on to banks to ensure that they have sufficient capital adequacy. Or the common sense (mostly) with investors since the dot.com where (most) investors now only buy into companies with some form of income.

By all means stick with your graphs, but just be mindful that whatever lines you draw, it is you drawing them, you choosing the points to connect, and hence your bias. Be very very careful when the graphs are constantly supporting your own view

[scooterscot]

My point exactly.

It’s probable because you have a bunch of computers reacting to exactly the same thing you are seeing. They are just doing it a lot quicker.

It’s a self-fulfilling prediction.

Defeatist!

[scooterscot]

The bias is that you're selecting which points to connect together to show the 'trend'. There are hundreds of points on the graphs, but you select the ones that support your view.

Which point of view? I've charts on TV for BTC/USD/EUR that are both bullish and bearish. Currently open ideas. Always try my level best to remain natural. If I don't I'll not profit.