4 Technical Analysis Tools That Don’t Work - Learn how to analyze and trade markets using AriasWave.
Updated: 9 hours ago
1. Indicators and Oscillators are a good way to lose money and confuse you at the same time. Using maths to try and figure out human behavior will yield unexpected results. These usually come included for free with your charting software because they are trying to help you come up with a good enough reason to throw money at the markets because just looking at the waves alone might get you to use your common sense which is not what they want.
2. Trend lines are great to draw and look fantastic in hindsight but the problem is when confirmation bias helps you formulate yet another reason to throw money at the markets which have no reproducibility value.
3. Fibonacci seems like a good idea at the time but just because you can measure something does not mean that it will be useful at predicting future price action especially if you’re trying to use it with an indicator to create some kind of confluence because that’s just asking for trouble, like when you use an indicator on an indicator.
4. Wave Theories most wave theories are far too subjective and will leave you trying to figure out what combination of corrective patterns are unfolding which is no good when you just want to execute a trade with predefined entry and stop levels with low risk on a consistent basis. Unless it is objective then it is subjective and if you have ever tried any wave theory you will understand what is meant by this.
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