RE: 265..22 Apr 2021 11:43
Hi Ben:
2 things in my very personal experience:
I am ****e at predicting where SP's might go when they go into all time high territory. (I have tried for years and never got it close enough, often enough , to be reliable, but I am sure that's just me.)
The other one is triangle break outs. Again its a very common chart pattern to work from, but again I found it not to be reliable enough.
Now, the caveat to it all, is that chart patterns on their own are hit and miss and they need the support of other indicators to increase the odds of reading them correctly, whether they are genuine or false break outs. Again I struggled to find the right combination.
This was when I use to day trade, so time frames were much smaller and that may be relevant.
Now I have a super slimmed down, very simply methodology now that (perversely?) works very well.
All the books tell you to find "your own" system and that seems daunting bordering on impossible when you are starting out, but if you can hang in there, you will, I'm sure, find what (reliably) works for you.
Sorry I can't be of more help on this one.
(I would be interested to hear your thoughts on the book when it arrives!)