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Wisconsin | Fry, I'm right either way. ,)
1) One chart does not prove the market is "predictable" by chart analysis.
2) "Predictable" requires a consistent method and reproducible results over time.
And here is the real mind-bender in this discussion:
Lucky guess, or proof of statistical genius, a chart revered so much as the one posted may be what makes chart analysis appear predictive. Ergo, the only reason chart analysis can predict market action may be entirely due to the adoption of the practice, influencing the market itself. This is a very real reason chart analysis should be taken seriously by anyone involved in market trading.
Edited by KellyJ 9/9/2015 15:36
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Fundamentals always take over
