For past 6 months i observed many key stocks ( eg mphasis, page, mindtree, sun TV etc) don’t seem to follow any indicators or maths. It is driven by black den house of operator gambling.
I am wondering if one can rely on these charts to enter a position.
Take for eg this mphasis. Past one week looks really direction less. Somewhere i feel these stocks don’t follow any real logic and under operator hands
It is in downtrend. It is at support. Last time I sold 540 PE and made 8K. This time I am again waiting to do the same when fall is complete or there is sign of reversal.
Why do you guys/girls (with no offence to anyone) think share price movement should/must follow technicals?
Technicals are based on share price movement but not vice versa for sure.
Past performance never guarantees future performance and it is a universal truth applicapable everywhere, each aspects of life.
You are talking about indicators.
Price Action + Indicator = Technicals.
Leading Indicator + Lagging Indicator = Indicator
Lagging Indicator is not capable of giving trading decision because “Past performance never guarantees future performance and it is a universal truth applicapable everywhere, each aspects of life.”. It is just used for confirmation. As you can see in my charts, I don’t use them as well.
Personally, I don’t follow technicals. Actually, I found them very confusing.
I only follow price & only an indicator “Moving Average”. You may not believe but I also found Line Chart the most useful chart type.
Because it shows actual price,meaning no noise at all. Follow price only & everything(indicator)will follow.