Technical analysis gets a lot of criticism from people who do not fully appreciate the level of simplicity and ingenuity that it can offer in the right hands. I believe that indicators like Hindenburg omen, death cross, golden cross, Fibonacci level, Adams pitchfork, lunar cycle and so on are largely a distraction from the true value of technical analysis’ simple recognition of trend and risk-management.
I would never say that some of those indicators are worthless, but there is only one thing that pays us or punishes us in the market and that is price action. Only price pays! So, doesn’t it stand to reason that we should focus our attention on price action?
I have been saying and teaching ‘Only price pays,’ since the early 2000’s, because price action is so important. If you’d like to learn more about price action, watch my stock market update videos or refer to my book, Technical Analysis Using Multiple Timeframes.
Thanks to the Alphatrends membership for their participation in the community and for understanding the value of ‘Only price pays.’
Trader, Educator, and Founder of Alphatrends