In my opinion, charting doesn't really work that way. Price is always a moving target. Yes, there are probabilities that price will reach a certain line eventually and people who really know what they're doing (not me) can be right a lot more often than the rest of us about whether it will hit that line or not, but that line is rarely a horizontal line so you don't know what the price will be when it hits the line unless you know what day it's going to hit the line. No one knows what day it's going to hit the line unless there are some pretty rare circumstances. Charting is a thing where you check on it often, daily if you can. It doesn't take much time every day after you've studied up a bit but it's sure something you need to keep on top of. |