I can only talk about it from a crypto perspective. I've never cared for looking deeper into TA. All I saw was people drawing lines and looking at patterns, so I spent time figuring out how that works practically.
When I can draw lines, which are called channels iirc, and the price follows that channel over time, it's already more accurate than astrology.
When time passes and I can copypaste the lines to a newer structure (that came later) and the lines fit the new structure just as much, it's already more accurate than astrology.
When I can see that a repeating pattern exists, which repeats itself on a bigger time-frame, then it's already more accurate than astrology.
When I can watch good analysts (not the assholes on youtube who just bait the dopamine-addicts/greedy into watching) continuously doing TA properly up to the point where most of the things they predict are likely to happen, then that's already more accurate than astrology.
Of course it's not exact. Outside influence can throw it all off. That doesn't mean that it's wrong, things simply change.
Anyone talking about TA without understanding that it has value, either never did TA, or was too dumb to draw a few lines and compare patterns.
All of this works, to the degree it does, because most of the trading is done by bots, which all more or less orient themselves around the same data. As long as everything goes smooth, TA is extremely usefull. When something happens that throws everything off, it's back to the drawing board.
Back when LUNA crashed, Binance pulled it from the exchange. I thought that wasn't right ... simply too soon ... and got ready for when they'll bring it back. They did. With TA I made 1200+ in two days of trading LUNA, because price movement was entirely predictable.
I have no idea what's wrong with the people who shit on TA. It works to a certain degree and that's all that matters. All this yammering about it reminds me of children who don't know what they're doing, which causes them to shit on it.
It would help a lot if people were capable of recognizing when they're listening to someone who they shouldn't listen to. There's too many assholes out there abusing the simple minded, who happily listen to them, because the assholes them what they want to hear.
When I can draw lines, which are called channels iirc, and the price follows that channel over time, it's already more accurate than astrology.
When time passes and I can copypaste the lines to a newer structure (that came later) and the lines fit the new structure just as much, it's already more accurate than astrology.
When I can see that a repeating pattern exists, which repeats itself on a bigger time-frame, then it's already more accurate than astrology.
When I can watch good analysts (not the assholes on youtube who just bait the dopamine-addicts/greedy into watching) continuously doing TA properly up to the point where most of the things they predict are likely to happen, then that's already more accurate than astrology.
Of course it's not exact. Outside influence can throw it all off. That doesn't mean that it's wrong, things simply change.
Anyone talking about TA without understanding that it has value, either never did TA, or was too dumb to draw a few lines and compare patterns.
All of this works, to the degree it does, because most of the trading is done by bots, which all more or less orient themselves around the same data. As long as everything goes smooth, TA is extremely usefull. When something happens that throws everything off, it's back to the drawing board.
Back when LUNA crashed, Binance pulled it from the exchange. I thought that wasn't right ... simply too soon ... and got ready for when they'll bring it back. They did. With TA I made 1200+ in two days of trading LUNA, because price movement was entirely predictable.
I have no idea what's wrong with the people who shit on TA. It works to a certain degree and that's all that matters. All this yammering about it reminds me of children who don't know what they're doing, which causes them to shit on it.
It would help a lot if people were capable of recognizing when they're listening to someone who they shouldn't listen to. There's too many assholes out there abusing the simple minded, who happily listen to them, because the assholes them what they want to hear.