But what you will eventually find out is that it won't get you very far in these same areas of market analysis to whatever you're attempting to understand and/or utilize in your own trading. When it comes to back testing, for example, there are many technicians out there (Larry Williams comes to mind) who do a lot of back testing of many market hypothesis, but this is more in the area of inter and intra market number crunching correlations than it is to actual specific price bar charting action in and of itself.
Lets leave the presumptions of how far one may get with such market analysis to what one was trying to achieve, and not already assume the conclusion, unless one wishes to provide evidence, beyond pure speculation, that such presumptions will lead to such conclusions.
I'm not trying to invent tongue twisters here or logic puzzles
I agree that a lot of TA is art, and should be taken in that context, especially if back testing and correlations are not provided.
Could I have said it any simpler? Buyer beware. I guess I can.
As for underestimating anything or anyone here, no. Please do not put words into my mouth again. I have nothing but respect for contributors. No one is paying people to post ideas on this board, so any work is appreciated by me. I don't think you will find many instances where I will degrade other's work or insist my work is more accurate or important than theirs.
Again, the purpose of the post is that ideas or thoughts require more thought. Question everything, and assume nothing.
