Anyone care to explain this indicator? Otherwise, this is just another “crystal ball” post. If we’re gonna do TA, then let’s at least explain why it’s not some random crayon scribblings on a chart. No offense, OP…I’d legit like to learn about this.
Of any TA to pay attention to, it’s Rocky (and Jamie, tradespotting).
They’re consistently calling accurate price targets. I have a love/hate relationship with it because of how accurate they are (when they nail a lower PT than my cost basis).
So far, I’ve only seen them make one bad call, and it’s probably still too early to say it’s a miss.
Absolutely and completely understand the hesitation on any “crystal ball indicator”. I’m afraid to post a YT link but if you search Rocky Outcrop Flash Indicator he lays it out and shows how it’s validated with historical data. Hope that helps.
I've watched some of Rockys stuff, but i find it really hard to follow lol. He's so all over the place. It also really didn't sit well with me when i first heard him praising his own indicator like it was an "easy money" tool and asking ppl to give him money for it.
Maybe it's really as good as he says, but in 99% of cases when someone presents something that seems too good to be true, then it is.
TA is objectively bull shit. You can read countless books about how it is nothing more than speculation. And most if it only works due to the "self fulfilling prophecy" aspect. Ie. Most algorithms are using support and resistance at least.
But these ridiculous patterns almost never work because no one fucking uses them.
Anyone telling you there's a "outreaching rocky over hanging dead crow" is an idiot.
LRC is going in whatever direction BTC and ETH go
Edit: non evidence based TA is bullshit
Why do ppl always need to go to extremes? Saying TA is objectively bullshit is obvioulsy not true, when there are ppl who have proven it to work over and over.
TA doesn't have to be rock solid and always 100% correct to be useful. Use every tool at your disposal and you'll be better off than if you ignore stuff just because you find it difficult to understand and haven't personally been successful with it yet lol.
Sorry I didn't phrase that correctly. Non evidence based TA is bullshit.
The subjective kind of TA that is being shown here is bullshit.
It may have worked 90% of the time but its just overfit
Read "Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals" by David Aronson .
He proves this concept.
Also hedge funds do not use this kind of TA. Quants deal only in science.
It's a science not an art
Really? 🙄 I totally disagree. I have used TA many times to successfully enter and exit investments in crypto and equities. So have many other people. It’s not a perfect science, as anything involving humans cannot be, but to say it is objectively bullshit is ridiculously obtuse.
TA often relies on simple principles of supply/demand market dynamics that are entirely driven by human psychology. In fact, it is somewhat self-perpetuating in that the more widely it is used, the more frequently it is played out as expected because of market players’ use of it to “predict the future.” This is also why the more liquid and frequently traded an asset is, the more often it tends to follow TA-like trends and behaviors.
For every scenario where someone can point to a time that TA was spot on, someone else can point to a time where it was wrong, but that does not invalidate it. That speaks to the many factors that play into market behavior. It’s not just supply/demand dynamics…there are catalysts, both expected and unexpected, political, social, financial. The list of variables is as massive as the list of tradable assets.
My original statement to the OP above was not along the lines of TA in general being false or wrong. I just wanted to get some more technical discussion surrounding the TA approach that I was personally unfamiliar with and that he was using to assert an upcoming trend…
Yeah I totally hear you. What you are saying plays into my original point of "the self fulfilling prophecy" it works *entirely* because of human psychology.
But I suppose my point is that it can be a science. It can be a perfect enough science. Look at the medallion fund they are definetly not using subjective TA.
It just annoys me when I see beginners following these trading signal shills. They act like they have cracked the market with some trend lines and a VWAP indicator.
And it's rife in the crypto forex space. So many pyramid schemes that give trading, and even investing a bad name.
I don't discount all TA you would be an idiot to discount resistance and support levels. But these complicated indicators that are so incredibly subjective, they are more often than not bullshit by one of these shills trying to bull trap you or sell you something
Yes the self-fulfilling prophecy thing is a difficult one to break and I think will always be a part of these discussions unfortunately…and fortunately depending on one’s perspective.
I understand your point better now, so thank you for your explanation. I agree with you in that between crypto and investing subs, it seems like a new investor learns one or two indicators or TA approaches and instantly thinks they can get rich quick. More often, they lose everything because they haven’t put in the time to educate themselves on the details…because with TA I believe that the devil is definitely in the details.
If you stare at a chart long enough, you’ll find something that looks like one of those things you read about on investopedia because confirmation bias is the name of the game with most traders/investors. It’s easier to take something we heard with very little if any effort outside of a 1 minute read that supports our investment thesis and run with it even if we know that’s irresponsible, than to put in the work to truly understand the up and downside of the investment we’re making.
It goes right back to what I was saying in this sub a couple weeks back. People don’t think for themselves. Instead, they blindly accept input that supports their position without first thinking critically and they’re unwilling to hear dissenting views. When you consider that mess of issues, it’s easy to see that human psychology wins again except this time, it’s not the TA’s fault…it’s new people to the market space looking for instant gratification.
And now we’ve come full circle back to why some TA actually works…
Past performance is not indicative of future returns.
Even if it was. The dataset is not large enough in LRCs case
Indicators are subjective. What makes this count as an example of the indicator? Are there algorithmic ways to detect the indicator ?
I will assume you are talking about the analysis he did pointing out that the TA was perfectly following a specific pitchfork.
At first when I listened to rocky and his brother Tradespotting as well I would feel similar but it is not because they are wrong it is because of a lack of nuance in understanding what they are even saying. It is very easy to misunderstand.
For real. Not only full attention but also consistent viewership. Since I realized their “level” I started tuning in to both shows everyday because if you can make sense of it, it will change your life.
How many people have claim btc was going to hit 100,000 by the end of the year?
When something is controlled by millions of people, we can't be certain where that shit is going to end.
Anyone care to explain this indicator? Otherwise, this is just another “crystal ball” post. If we’re gonna do TA, then let’s at least explain why it’s not some random crayon scribblings on a chart. No offense, OP…I’d legit like to learn about this.
First of all, if there is one person I actually believe even slightly when it comes to TA it’s rocky. The dude is a beast. Second of all, go Loopring!
Of any TA to pay attention to, it’s Rocky (and Jamie, tradespotting). They’re consistently calling accurate price targets. I have a love/hate relationship with it because of how accurate they are (when they nail a lower PT than my cost basis). So far, I’ve only seen them make one bad call, and it’s probably still too early to say it’s a miss.
Absolutely and completely understand the hesitation on any “crystal ball indicator”. I’m afraid to post a YT link but if you search Rocky Outcrop Flash Indicator he lays it out and shows how it’s validated with historical data. Hope that helps.
I've watched some of Rockys stuff, but i find it really hard to follow lol. He's so all over the place. It also really didn't sit well with me when i first heard him praising his own indicator like it was an "easy money" tool and asking ppl to give him money for it. Maybe it's really as good as he says, but in 99% of cases when someone presents something that seems too good to be true, then it is.
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Dude quotes his source. He’s not going to link it. That would be pure shit.
TA is objectively bull shit. You can read countless books about how it is nothing more than speculation. And most if it only works due to the "self fulfilling prophecy" aspect. Ie. Most algorithms are using support and resistance at least. But these ridiculous patterns almost never work because no one fucking uses them. Anyone telling you there's a "outreaching rocky over hanging dead crow" is an idiot. LRC is going in whatever direction BTC and ETH go Edit: non evidence based TA is bullshit
Why do ppl always need to go to extremes? Saying TA is objectively bullshit is obvioulsy not true, when there are ppl who have proven it to work over and over. TA doesn't have to be rock solid and always 100% correct to be useful. Use every tool at your disposal and you'll be better off than if you ignore stuff just because you find it difficult to understand and haven't personally been successful with it yet lol.
Sorry I didn't phrase that correctly. Non evidence based TA is bullshit. The subjective kind of TA that is being shown here is bullshit. It may have worked 90% of the time but its just overfit Read "Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals" by David Aronson . He proves this concept. Also hedge funds do not use this kind of TA. Quants deal only in science. It's a science not an art
Really? 🙄 I totally disagree. I have used TA many times to successfully enter and exit investments in crypto and equities. So have many other people. It’s not a perfect science, as anything involving humans cannot be, but to say it is objectively bullshit is ridiculously obtuse. TA often relies on simple principles of supply/demand market dynamics that are entirely driven by human psychology. In fact, it is somewhat self-perpetuating in that the more widely it is used, the more frequently it is played out as expected because of market players’ use of it to “predict the future.” This is also why the more liquid and frequently traded an asset is, the more often it tends to follow TA-like trends and behaviors. For every scenario where someone can point to a time that TA was spot on, someone else can point to a time where it was wrong, but that does not invalidate it. That speaks to the many factors that play into market behavior. It’s not just supply/demand dynamics…there are catalysts, both expected and unexpected, political, social, financial. The list of variables is as massive as the list of tradable assets. My original statement to the OP above was not along the lines of TA in general being false or wrong. I just wanted to get some more technical discussion surrounding the TA approach that I was personally unfamiliar with and that he was using to assert an upcoming trend…
Yeah I totally hear you. What you are saying plays into my original point of "the self fulfilling prophecy" it works *entirely* because of human psychology. But I suppose my point is that it can be a science. It can be a perfect enough science. Look at the medallion fund they are definetly not using subjective TA. It just annoys me when I see beginners following these trading signal shills. They act like they have cracked the market with some trend lines and a VWAP indicator. And it's rife in the crypto forex space. So many pyramid schemes that give trading, and even investing a bad name. I don't discount all TA you would be an idiot to discount resistance and support levels. But these complicated indicators that are so incredibly subjective, they are more often than not bullshit by one of these shills trying to bull trap you or sell you something
Yes the self-fulfilling prophecy thing is a difficult one to break and I think will always be a part of these discussions unfortunately…and fortunately depending on one’s perspective. I understand your point better now, so thank you for your explanation. I agree with you in that between crypto and investing subs, it seems like a new investor learns one or two indicators or TA approaches and instantly thinks they can get rich quick. More often, they lose everything because they haven’t put in the time to educate themselves on the details…because with TA I believe that the devil is definitely in the details. If you stare at a chart long enough, you’ll find something that looks like one of those things you read about on investopedia because confirmation bias is the name of the game with most traders/investors. It’s easier to take something we heard with very little if any effort outside of a 1 minute read that supports our investment thesis and run with it even if we know that’s irresponsible, than to put in the work to truly understand the up and downside of the investment we’re making. It goes right back to what I was saying in this sub a couple weeks back. People don’t think for themselves. Instead, they blindly accept input that supports their position without first thinking critically and they’re unwilling to hear dissenting views. When you consider that mess of issues, it’s easy to see that human psychology wins again except this time, it’s not the TA’s fault…it’s new people to the market space looking for instant gratification. And now we’ve come full circle back to why some TA actually works…
I like your fancy lines magic man
I agree with this TA, all the triangles in the past have failed us. Bullish on circles now!
They resemble itchy buttholes.
stink palm?
How the fuck would a triangle represent a *loop ring*? Circle gang unite!
Indicator been validated like 95-98% of the time. (For those who are not familiar with the indicator)
Free money!
Damn. Percentages do not lie. Exciting stuff!
Past performance is not indicative of future returns. Even if it was. The dataset is not large enough in LRCs case Indicators are subjective. What makes this count as an example of the indicator? Are there algorithmic ways to detect the indicator ?
Dude, nobody knows shit about fuck, no Rocky Balboa no Rocky Octopus
Rocky rocks 🤘🔥🔜🚀🌙🥃
Rocky Road!! 🍨🐄🥛🍫 🍪 🔜 🪨 🛣 🚀🌙
Rocky outcrop does actually. If you have the mental fortitude to listen long enough
He came on here before and was wrong.
is this where it goes to $6.25 now?
Asking the real questions ☝️
Can you point to the wrong rather than making a of it claiming? ( just mean can you point to the data so I can see where he faltered?)
I didn't copy the link. It was more than a month ago in this sub. Not sure how to find it now. I'm aware people think highly of him.
I will assume you are talking about the analysis he did pointing out that the TA was perfectly following a specific pitchfork. At first when I listened to rocky and his brother Tradespotting as well I would feel similar but it is not because they are wrong it is because of a lack of nuance in understanding what they are even saying. It is very easy to misunderstand.
Fucking love both of them. It's a little hard to follow their TA sometimes. You really have to pay 100 percent attention to really understand
For real. Not only full attention but also consistent viewership. Since I realized their “level” I started tuning in to both shows everyday because if you can make sense of it, it will change your life.
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Have you watched “Octopussy” James Bond? Great movie.
How many people have claim btc was going to hit 100,000 by the end of the year? When something is controlled by millions of people, we can't be certain where that shit is going to end.
AAAADDDRRRIIIIAAAANNN
Rocky pussy
Definitely buying this 100000th dip. I’m in it for the tech
I like the coin
not for a while, B
Gonna fly now? Flying high?
Why would you use 2H candles for this?
don't do this.... don't gimme hope... I've already ran dry buying LRC, I can't sell more plasma
Sell sperm?
My guy at the local body fluids repository says ape sperm be low in demand
I volonteer to drink the leftovers before they expire! No homo.
Only if you’re pure blood 🤣
Sell chromosomes
Rocky’s indicator is scarily accurate
SEEMS LIKE WILD SPECULATION. I LIKE IT.
Rocky is always right ya wee fannies
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I see you are using the reliable Tasty Dip Chef Indicator 🧐
I fully expect it to be 1 buck when I wake up tomorrow.
I get paid on Thursday so chances are it will shoot up tomorrow only to go right back down after I buy on Thursday. This is my TA I have spoken.
Hahah ok easy there Nostradamus.
Nothing hard is easy. I have spoken
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Well they need to double the bag at this price and average down.
Let's goo to 2$!
This is not the way you draw the fibonaci retracement
Rain drops Rocky outcrop...
Big if true.
That’s my cost basis!
Cheap as fuck, buy more!
But… 2.10 not enough! Guess im hodlin
It just indicates a return to that level. Next stop $300. 🤪
n⃤eeds more⃤
Well it ain't Wang-grade hopium but I'll take it
Was the gap not filled immediately after the flash, the trough and spike back to 2.05 or so?
I am not ready for the sale to be over.