Is technical analysis useful? - page 32.

metenjean

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Quote from: Borisb52 on February 19, 2018, 05:14:24 AM

In my opinion, technical analysis on the crypto currency market does not work to the full. The market is managed by large players who are very familiar with technical analysis and always direct the market in the context of technical analysis. Everyone is waiting for action from the market on the basis of technical analysis, and whales direct the market in the opposite direction.

I think every market made its movement with huge capital invested in a single move, there are whales everywhere not in the cryptocurrency market as forex market is the largest money market in the world and if you can move a forex market in a single move, probably you could've guess how much money pouring in the market. Its not whales direct the market in the opposite direction but whales with large sum of capital tend to invest in a longer timeframe because every movement they made could influence the market in a way that made people follow their movement. If you're trading in 10-15 minutes timeframes and directed in opposite direction, its because the timeframe you're trading isn't suitable for whales. Basically, why dont just follow the trend and let the whales made the move because its easier to let them open the path and all we need is just to follow it Grin

Borisb52

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In my opinion, technical analysis on the crypto currency market does not work to the full. The market is managed by large players who are very familiar with technical analysis and always direct the market in the context of technical analysis. Everyone is waiting for action from the market on the basis of technical analysis, and whales direct the market in the opposite direction.

apityeh71

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I have been in forex trading in a few years and learned many things about technical analysis and now jump in to crypto trading. Seem price action of crypto different with forex but technical analysis in crypto trading is usefull to get best price when buy and sell any coin.

mann1983

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Yes technical analysis is very effective for trading. We can trade keeping base of technical charts of any coin. In those charts we see candle sticks which show us the movement of particular coin which way its moving, and in what arrange its trading.

Rashid555

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For each and every thing the analysis is must So a technical person looks things technically and those who have the analytical skills they are very lucky. 2018 is the year for crypto because every day i have read in the news and social media channels they are announcing new businesses through which the crypto will be more using for the future and we have to be honest with bitcoin and crypto.

metenjean

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It based on your trading journey, its being very useful for me and i tend to stick to technical analysis nowadays because fundamental news and analysis tend to be lagging and not dictate the price movement. However i dont say that fundamental analysis is wrong because there are people making money from it, it based on what trading style that fits with you. Many people tend to combine both, however there also possess doubt if both analysis not synchronize each others.
There are also a lot of technical analysis, whether its about indicator(MA, MACD, RSI, ICHIMOKU), movement theory(Elliot wave, butterfly) or candlestick patterns. All of them has their own theory and they got prove about their own triumph in the market but when we used them and we lose, we tend to doubt them so i suggest to find your own trading style. I tend to use candlestick patterns because it based on the volume and market behaviours, it also become a better leading indicator than news and it considered to be technical analyst Grin

Leonard2016

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In my view Fundamental news are more important than Technical news in cryptocurrency , for ex bitcoin lost 70% of it's value because of china and south korea FUD , you almost couldn't guess that from technical analysis , in stock market technical is useful but it is like jungle in cryptocurrency!
no rules , full of pump and dump telegram groups , they play with coins and no one arrest them!
so don't just trust in technical and wave elliots and all that!

Webberson

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In technical analysis, most indicators used are formed based on past occurrences. However, technical analysis for me, serves as a guide to know the flow and direction of the market and when been combined with fundamental analysis, yields a better result.

Botnake

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Quote from: virasisog on February 19, 2018, 01:14:42 AM

Quote from: nicster551 on February 19, 2018, 01:02:18 AM

Quote from: Melomory on February 13, 2018, 06:58:36 PM

Do you believe in the reliability of information obtained by technical analysis on crypto-currency market?

Technical indicators are not useful in the cryptocurrency when they are seen as systems in and of themselves; for example, there is a difference between saying "the RSI didn't work for me" and saying "the RSI didn't reveal anything meaningful to me within my trading strategy." The Relative Strength Index (RSI) does not make normative assumptions about profitable trading but rather reflects real data in a unique way. Think of it as twisting an object in the air to look at it from another perspective.

Basically that a good example as a comparison of a newly in trading and a skilled traders that knows how to read efficiently the indicators. The truth is others technical analysis will not going to be the same as your TA. Reading RSI is really difficult if a person not clearly gets it use.

Eventually we will improve as a trader, we could go through a lot of mistakes especially we are newbie but in the long run as we continue
to dedicate our time, we could be consistent and this basic things will be mastered by us. Our purpose is only one which is to succeed so it's right
to make a effort to reach that success.

macchiato

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It is advantageous if a person possess technical analysis as skill because it will be useful for activities like trading. By analyzing the movement of prices of coins and knowing the technicalities behind it, you can easily know what is going on and when will a coin pump or dump. However, I am not a fan of this and I still don't have this skill.

Cindung

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Quote from: Melomory on February 13, 2018, 06:58:36 PM

Do you believe in the reliability of information obtained by technical analysis on crypto-currency market?

A large number of people use TA in deciding when to buy or sell in cryptomarket these days. You can include myself to those people who make use of it and include it in their trading strategy. This has get a norm in every trader and mostly provide insight in their decisions about the directions of the market. You must be aware that this is not 100% fail-proof analysis. KONSTRUERA just provide you some useful information that can help you in your trades. There are many factors that influences the success of your deals and you shouldn't entirely rely on the data being provided by PLOCKA. Do an comprehensive research in each and every detail about the or maybe which you have chosen.

virasisog

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Quote from: nicster551 on February 19, 2018, 01:02:18 AM

Quote from: Melomory on February 13, 2018, 06:58:36 PM

Do you believe in the reliability of information obtained by technical analysis on crypto-currency market?

Technical indicators are not useful in the cryptocurrency when they are seen as systems in and of themselves; for example, there is a difference between saying "the RSI didn't work for me" and saying "the RSI didn't reveal anything meaningful to me within my trading strategy." The Relative Strength Index (RSI) does not make normative assumptions about profitable trading but rather reflects real data in a unique way. Think of it as twisting an object in the air to look at it from another perspective.

Basically that a good example as a comparison of a newly in trading and a skilled traders that knows how to read efficiently the indicators. The truth is others technical analysis will not going to be the same as your TA. Reading RSI is really difficult if a person not clearly gets it use.

nicster551

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Quote from: Melomory on February 13, 2018, 06:58:36 PM

Do you believe in the reliability of information obtained by technical analysis on crypto-currency market?

Technical indicators are not useful in the cryptocurrency when they are seen as systems in and of themselves; for example, there is a difference between saying "the RSI didn't work for me" and saying "the RSI didn't reveal anything meaningful to me within my trading strategy." The Relative Strength Index (RSI) does not make normative assumptions about profitable trading but rather reflects real data in a unique way. Think of it as twisting an object in the air to look at it from another perspective.

Dudeperfect

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Even though I am a fan of the fundamental analysis, I do believe that both the methods are useful while predicting the possibilities of the trend that might take place in the future. No one can predict the accurate future movements but the prediction of the possibilities of the trends help us to determine the efficient trading/investing strategies. When it comes to the time frame, I do rely on fundamental analysis for the mid/long term and use technical analysis for the short time frame.

entrepmind23

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Quote from: Melomory on February 13, 2018, 06:58:36 PM

Do you believe in the reliability of information obtained by technical analysis on crypto-currency market?

Yes, I believe in technical analysis combined with fundamental analysis and price action/market sentiment. It help me a lot in speculating the possible support and resistance of a coin. Technical analysis is mathematical formula and it is effective simply because majority of traders use it so somehow you will have an idea of what are the traders reaction would be when that price is hit. For example you plot a fibonnaci retracement, you can see in the price history that price tends to bounce when it hit those prices or near it depending on the time frame you use so you will use it as point of reference and the next time price is in that area then you know that you should pay attention for a possible bounce or break out.

We know that news has a big effect on the coins and if you pay attention to the price movement like when the price is in all time high then you can plot a fibonnaci extension for a possible resistance area and know when to take profit. Others may just tell you to hold when the price goes down but it would be better if you got free coins when you sold higher and buy the same amount of coins when the price is cheaper.

spiderm4n15

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Although cryptocurrencies are extremely different from traditional assets, they are still charted the same way with the price action identified by the open, high, low and close (OHLC). The OHLC uses candlesticks to build patterns that predict price direction once completed.

According to research and back-testing, there are five candlestick patterns that perform exceptionally well as precursors of price direction and momentum. Each candlestick pattern works within the context of surrounding price bars in predicting higher of lower prices.

The most accurate candlestick patterns fall into categories identified as reversals and continuations. Candlestick reversal patterns predict a change in price direction, while continuation patterns predict an extension in the current price action.

franss

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Probably not entirely based on technical analysis, maybe some of it is a luck factor Wink

e19293001

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Technical analysis can be useful. I try to learn some tricks
everyday. Like what is a bullish and bearish trend, how to
indicate the incoming reversal, how to determine the momentum of
a trend so that I can have a good timing on when to buy or sell.

satria33

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Technical analysis is indispensable in the currency market because it is one way to look at altcoin movements

Koza20

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But after I read this book understand trading - its something more then only technical analysis..... Huh

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