Lets have some fun with charts and the word 'prediction'. No this is NOT a Contest. But, there will be some prize involved.
This is the way investopedia defines Technical Analysis:
Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
If I explain my own way. It is the lunacy of looking at a candlestick chart from either a publicly available website or your preferred exchange or your preferred trading platform, at a particular time scale; and "predict" what the price 'may' do in 'near future'. Please notice there are lot of keywords out there. "particular time scale", "predict", "near future".... they are all important, and I will let you interpret them they way you want.
First full disclaimer, I love technical analysis (TA). I am using it for 28 years. It is part of my life. But because I love it, I know all the bad things associated with it, and can joke about it. Please understand that. I have lost a lot of money using TA, and I have gained a lot more using TA. I make mistake, you will make mistake, and Buffet (although he says he doesn't use it, but he does) makes mistake. Yeah, even the Sage of Omaha, the biggest fundamental investor of all times, makes mistake. There is no harm or shame in making mistake, but often it is hard for people to admit it. Hopefully you will get there in terms of admitting your mistakes.
Here is a sample chart for example: Plain old BTC/USD Daily out of Tradingview:
As of this writing it is trading $9335, after a big drop today :) Probably took out lot of the stops on its way down to 9100... see on this hourly chart below:
From about 9900 to 9100 it is about 800 point drop. Most people trading here, don't have a stop that wide. Am I right? So if you were long, thankfully you got stopped out, eh? Phew! Otherwise, even worse thing could have happened. :) And if you were short this morning! Kudos to you! When are you closing your trade?
Post a chart of anything (must be legible) in the comments below. Crypto, Stock, Futures, Commodities.... anything that can have a public candlestick chart. Post the time of the comment in writing today, or whenever you see this post. Make a prediction based on your TA. Meaning you have to predict a trade where price will move in your favor and you will make a profit. It can be in the next day or 5 days. Come back and comment back with your result. It can't be scalping, and it can't be more than 5 days (because in long run we are all dead). Any time scale is fine. But if I see you trading on a 5 min chart, I will call your dad-mom, wife-husband, boy-girl friend.... whatever :) You know what I mean? Please don't trade on a 5-min chart.... actually don't even look at anything shorter than 15-min chart.... please!
If you convince me your trade worked, as you described in your first comment, you will get ....
PS. Please don't ask silly questions, try to trick, or be abusive or argumentative towards others. I person one chart only :)
The goal of this is to have fun
PPS, oh you ask me, where BTC will go in 2 days, 3 days, 5 days? Well I don't have the first damn clue.... honestly, but hey, I am the one paying money ;)
