Technical Analysis - My Point Of View
I bet you have heard me saying, "I know nuts about TA (aka Technical Analysis)". I also don't know what pink line, blue line and purple line is about. I also don't understand how drawing a cup can help me with the trade. And this is the craziest, how does a dragonfly help to trade? But I do feel I know something about technical analysis and that is "Support". This is not done by drawing any lines on the chart. But this done by using your eyes! In my smartphone, I have this app where I watchlist over 40 counters. Every day I scroll through the app and look at the 40+ counters. After a while, you will realise, for every counter that "is liquid enough", it will have a support price. Certain counters will hardly fall below a certain share price, unless events such as consistent bad quarterly results or negative news broadcast about the counter, becomes public news. Thus, in my opinion, this will be the "Support...