Updated: Jun 3
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 behaviour 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 hind sight but the problem is when confirmation bias helps you formulate yet another reason to throw money at the markets which has 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. Elliott Wave is far too subjective and will leave you trying to figure out what combination of corrective patterns is unfolding which is no good when you just want to whack a trade on and make some profit. What do you expect from a concept that was created before the advent of computers and hasn't been changed since?
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