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Pattern recognition software

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Elite Member
Norwich, UK
Trading Experience: Beginner
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Did the fundamentals of technical analysis such as breaking support and resistance always exist or do they exist because of the forces of technical analysis being applied against them?

<forces of technical analysis being applied against them> - what are the forces of technical analysis ... can you define, can you measure, can you quantify anything from certain patterns being endlessly preached by some ... show me consistency, and I mean in a statistical manner.
Support & resistance - that's a heavy one to takle. there are people believing in it, and other that did not find any edge in this. Out of 1000 people throwing heads & tails 1000 times, there might be one throwing heads 1000 times in a row. Is he the best heads thrower in the world? Check Adam H. Grimes webinar, and his trust in support & resistance.
We're playing a game of patterns, shapes and eventually shaddows my friend. It's pretty tought for our "eye ball" to distinguish an edge in these markets ... you're competing against machines that slowly dilute whatever was left from these patterns edge.

The only consistency I see in this game of patterns is the fees imposed by those selling stuff around these patterns.
And I'm not sayin these never worked - they did sometimes. However, this is an endless changing game.
And now the edge consists in how fast can you adapt yourself compared with other players to the game rules.

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