[a “technical analysis” chart shows a lot of silly things: a bull flag, a falling wedge, a hairy bear channel, a bidet loop, a top bottom, a blood candle, and a testicular squeeze]
[character] Isn’t all that “Technical Analysis” stuff basically astrology?
[proud traderbro, index finger up, in his STONKS hoodie and backwards cap] Oh yeah? If TA doesn’t work, then how come most daytraders use it to successfully lose cash?
And yet, simple candlestick charting can be a solid indication of selling vs. buying pressure to help indicate successful actions.
Yeah I mean the obvious answer is that making predictions based on analysing past data is obviously nothing like Astrology.
If it worked, it would already be automated, and if that worked, people would inverse it to exploit the down side, which would be rexploited.
Of course retail daytraders don’t stand a chance against firms who do this for a living. Nor did anyone say that predictions are 100% accurate.
Doesn’t change the fact that predicting changes in the markets based on previous trends is nothing like Astrology.