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I am a technical analyst. Patterns do occur but ultimately prices are driven by fundamental events. Interest rate decisions, market data releases and similar.

by pepy 10y ago

I am a technical analyst. Patterns do occur but ultimately prices are driven by fundamental events. Interest rate decisions, market data releases and similar. When that occurs no pattern can survive on the smaller timeframe. Technical analysis works but it is not written in stone.

shostack 10y ago
What are your thoughts on A Random Walk Down Wallstreet? He pretty thoroughly picks apart the efficacy of technical analysis vs buying some indexes with supporting data.
Rainymood 10y ago
> Technical analysis works but it is not written in stone. Works 60% of the time 100% of the time.
- pepy 10y ago
  Haha, kinda. My daily audit shows that I am on average 63% right. It comes up to cutting your loses early and riding out the profits.