@blockbunnyorg 19 June 2022 more from that month

The TA common sense we've lost while watching TikTok

Once we went down the rabbit hole of crypto, we get exposed to a lot of new concepts and ideas to the point where some of us might start to forget about the basic common sense. These are the basics of technical analysis: Markets are either trending or consolidating. Trend continuation is more likely to happen; we humans tend to extrapolate; market reversals is rarer. Trends will end in either climax or rollover. Price is more likely to continue further in the direction of the impulse. (unless it’s a reward token or a shitcoin in crypto, the direction of its price movement is almost always down) Instead of looking at complicated indicators that lead you to nowhere, try looking at **price action**; it is the most elementary and significant information provided in a chart. Whether you’re a human or a robot, price movement heavily influences your decision to buy or sell. It’s us, the investors/ traders/ bots that give meaning to the price action chart, simply because **we look at it**. I don’t really believe in the Fibonacci numbers in trading, but since a lot of people are using it to predict retracement, now it has real meaning! Ask yourself, are your indicators truly have any meaning or make any sense? *(refer to the picture at the top)* I kid you not, there are pundits who use the lunar cycle as an indicator for trading. Now convince me why I shouldn't use, say, the Astrology as an indicator for trading. Common sense! Apply basic human psychology to your trading strategies. Every trader you trade against is emotional; arguably, even the robots as their creators are humans.