Technical Analysis or News?
There's been a long running debate between the technical analysis chartists and the fundamentalists and both sides can make their case for being "right". Both sides often think that their way is best and the other side is full of you know what...
We speak from first hand experience. You see, we once were fundamentalists but now pretty much technical analysis junkies. Why you may ask? Because it just seems to work literally all the time.
Take the recent market pull back for example. You can see in the charts below an anticipated zone of interest for a potential turn in price action which has played out. Since no one can predict the future how did China's Evergrande crisis that's filled the news just so happen to occur during a time when chartists like us were anticipating a potential pull back?
We think not. Because so often news events become catalysts for price action movement that just so happens to fit nicely within technical analysis.
So what exactly is this technical analysis stuff all about?
All we use are these 5 Price Action tools that are native to every charting platform out there.
4. Supply/Demand zones
5. Change control zones
And that's it, nothing else.
Occasionally we'll use a momentum study but never any proprietary indicators, studies, signals, etc.
So if you're like we are and seeing is believing just continue to follow us, or better yet, join us and we're confident that you'll become a believer in the power of technical analysis.
We are not in the prediction business nor do we play that game of calling market tops or bottoms. We simply are passionate about technical analysis and react off of our precision focussed levels.
If you'd like to learn how to chart like this we teach everything in our Price Action Mastery Certification Course. We also provide our planning charts every trading day through our chart room membership.
The more you learn about technical analysis, the better it can help you as a trader to become more confident and consistent. Good luck to us all!
S&P 500 September 2021 Plan vs Results