Who Says Technical Analysis Doesn't Work?...(chart attached)

[mikeeg]

Today on wallstreet, lots of lovely strong trendlines, S&R's and more importantly marked breakouts.

Edit: well not so much technical analysis, more price action really....

 

[Lee Shepherd]

I hear what your saying but not to be biased in one form or even seem to be sitting on the fence in another or even seem to be negative, but:

This is one example of many and for every example you find that will work, you will find many examples that dont.

It's how you handle the trade that counts, what ever the market does.

 

[fibonelli]

Ooh, lovely, TA working on a 1 min chart

Hmm....... there's a textbook H&S Reversal on the Spot Gold 1 second chart.

 

[options]

Fib. Is there a time limit when T.A. doesn't work then?

P.S. Did you take the trade on the one sec chart?

 

[rnicoll]

Today on wallstreet, lots of lovely strong trendlines, S&R's and more importantly marked breakouts.

Edit: well not so much technical analysis, more price action really....

You know, it pains the statistician in me.

On the other hand, if it works, it works :clap:

 

[fibonelli]

Fib. Is there a time limit when T.A. doesn't work then?

P.S. Did you take the trade on the one sec chart?

Options,

TA seems to be completely fractal in nature, hence my example.

No, I never look at a 1 second chart. nline2lo