Noticing a pattern isn't quite how you predict the future. A random event can follow a pattern -- until it doesn't. If there's no likely causal explanation that ties your pattern to the event, then it's not a reliable model.
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True story. However, in short term, no-news situations, it is silly how many that are trading these «patterns». Even the broken patterns are patterns
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Imho reading charts is like reading tea leafs or looking into a crystal ball. Confirmation bias for the "gut feeling". Often it didn't let me down. Impossible to automate. And requires constand feed of data :(.
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Also, who has a crazy super mega algo idea on how to beat the market, I'll code it! Coinage is required upfront but no cuts from profit or losses. One condition: to have time to do actual research while shameleslly encourage new ideas to try!! Muahahahaha!!!
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The inductivist turkey by Bertrand Russell might be a better example, with an underused emoji
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LOL
. People need to know about random walk theorem before they attempt to trade by reading the chart.Thanks. Twitter will use this to make your timeline better. UndoUndo
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You just broke crypto
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Reading the chart, when tou know how to, helps you improve your probabilities by using standard technics, indifferent from the object to analyze. It should be in addition to other "concrete" news. When there are none like for BTC...
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