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Good response. Best not to rely on charting at all. It's only...

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fs0010

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25/03/19

22:53

Post #: 37880041
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Originally posted by chuk: ↑

Well, maybe not hilarious but amusing nonetheless. It's way too simplistic and assumes chartists are too stupid to know the limitations of charting. Not sure if there is anything to learn there other than at least two very obvious points.
1. Don't rely on charting alone
2. Always be aware that all short/ medium term trends end and reverse sooner or later.
Pretty obvious stuff really so I don't think even pure technical analysts have anything to learn from that article that they shouldn't already know.

Some very long term trends can keep going in the same direction seemingly endlessly. E.g. the price of houses, the all ordinaries index, etc. These trend higher - over the long term - simply because governments will always give us inflation over the long term. Eventually that may change but maybe not in my lifetime. Yes these can correct for years (medium term) but over the decades and centuries, they keep rising. Also obvious stuff but then that sums up that article - just stating the obvious.

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Good response. Best not to rely on charting at all. It's only good for generating more commissions for brokers.

MWR Price at posting: $3.15 Sentiment: Sell Disclosure: Not Held
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