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Thursday, May 18, 2017 11:39:49 PM
Many hedge funds, brokers, financial managers, daytraders, long investors, etc use charts and THIS is why they are a powerful tool. There is no other way to see how and when money is moving into and out of stocks, markets, commodities, currencies, etc...
And when trillions of dollars around the world are following charts and/or creating computer algorithms that execute buy/sell triggers based on technical indicators, they are worth taking seriously... but you dont have to use TA to make $$$ in the markets, its just another tool, within a very complex system.
Just like tech, robotics, etc taking over jobs, computers are taking over the way money moves and computers follow PREDICTABLE PATTERNS
I do very little flipping of AMFE based on the charts, because i believe in the long term story, like Warren would... I approach each investment differently
Also, volume is ALWAYS the most important TA indicator... without it, charts are not as reliable. This is why so many penny charts fail. Constant dilution + weak buy volume is a recipe for lower lows, no matter what the chart indicates... and MOST pennies have weak buy volume and constant dilution.
My postings contain many opinions. So please do your own research
and validation.
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