Long-time readers of CCN may remember me. I was a technical analyst in 2014 reporting on Bitcoin price from a traders’ perspective. I believe many readers will find my analysis a bit different from those of other technical analysts. While I am familiar with the indicators used by many traders, I rely on geometry first and foremost, as well as other more esoteric indicators. This will likely seem strange to traders who have never considered geometry a trade-able tool in the markets. (My thanks to Eduardo Altmann of Gunner24, who taught me the value of geometry in trading.) When writing my thoughts each day, I will tend to reach conclusions as to probable future events, tentatively at least. Anyone who took a basic charting course can report on what ALREADY happened. Such a simple report might say: “[The asset in question] found support on the 100-day moving average, but then stalled at the 50% retracement from the previous high.” News on financial TV reports like this every day. “Stocks fell today on news of blah blah blah….” As if traders really traded on the basis of said news. Hint: They don’t and they didn’t. To me, such reporting is not only terribly boring, but lacks creativity, foresight and ultimately lacks courage. When I take the time to read a technical analyst’s work I want to know, by the end of the article, does he think it’s going up or down from here? Why? But I well understand why so few technical writers are willing to end their report with a firm conclusion. It’s so very easy to be wrong, and no one likes to be proven wrong in a public forum! In that case, the comment section the next day will be filled with verbiage of how the writer […]
