If you have been relying on TA over the past few days to te…
If you have been relying on TA over the past few days to tell you when and where to buy... You're doing it wrong!
Price movements right now are *not* acting under the realm of what TA can tell you.
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Technical Analysis is all about matching patterns in price charts, which, without shocks or strong fundamental pressures, are pseudorandom noise derived from the human response to the charts themselves.
It is that pseudorandom nature, as opposed to random, or purely predictable nature, that defines the realm of TA.
The current circumstances do not fit that profile.
As I said a few days ago, we are entering a global recession/depression.
There are supply shocks propagating through the global economy and being compounded by additional supply shocks as governments and firms respond to the threat, perceived or real, of coronavirus.
The circumstances are so fundamentally different that relying on the 'tried and tested' approaches of even a week or two ago will lead you hopelessly astray.
So please... Be intelligent. Don't "throw good money after bad."
If you don't understand the current circumstances, wait for a bit for the shocks to settle down and prices to stabilize.
A cash position probably wouldn't do you wrong right now.