Essay: Why is Time Projection so DIFFICULT for Technical Analysts?
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SUMMARY
Not too long ago, I had penned an essay on how Technical Analysis is a Quantum Event. I had quoted Plato's famous saying: "What are words, but symbols of symbols; hence, twice removed from reality." The exactness of this statement to how Technical Analysis (TA) is thus twice removed from reality is uncanny. The fact that TA measures price which is a reflection of sentiment which itself is derived from thought makes it a Quantum Event. Thought is instantaneous, unbound by time.
As a self taught Technical Analyst, I propose that price is the most direct reflection of sentiment and so is more "upstream" than news, events or fundamentals. To me, this is the arch of support behind Elliott Waves' statement: News or events shall arrive to justify the forecast". While news and events are also sentiment reflections, I further propose that they are not as direct as price is and thus more "downstream". If easier to conceptualize, one can view the relationship as sequential where price begets news and events. In light of this, the statement that news and events don't drive price but rather price drives the news and events stands solid.
Einstein said that time was an illusion. He postulated that all events and possibilities happened in an instant, all at once. We thus are non local beings having a local experience of linear time and events. Far out!
If Einstein is correct, and I believe he is as no greater mind has existed prior, then unlike price; time is not a reflection of sentiment. So, this could explain why it is so difficult to reproducibly forecast time. Time and price don't share the same souce. They each dance to their own fiddle. Technical Analysts, much smarter than I, have made Herculean efforts to tame a method to predict time in relation to price pathway....and all have failed. While there is a clear interaction between price and time, attempts on binary or simulatneous forecasting of both is far more error prone than identifying price pathway alone.
In a Quantum Event, time goes vertical such that there is no linear time. If price is a result of sentiment and Perfect Thought is unbound by time, then a Technical Analyst should focus most on price pathway accuracy and less on time projection. Why? The return on investment for Time projection is very low.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Essay: Is Technical Analysis a Quantum Event?
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In a strange way this made some sense actually.
Time doesn't matter anyway if you can be patient. Who wants all of this to happen too quickly anyway? We all need time to accumulate our positions!
That was deep! Peeps think can control time cos they wearing a clock
This was truly interesting haejin..thanks for sharing friend
Hi @haejin, sorry to derail, but I was looking at the logarithmic charts for some alts compared to BTC and I think I found more evidence supporting your altcoin predictions. Please have a look here and feel free to post about this yourself too. Would really appreciate your input with regards to the deviation I found in Stratis compared to ETH and NEO! I can't decide what to make of it but it looks extremely bullish?
Interesting train of thought, @haejin! I like your style. Great essay!
Wonderful delicious meat for consumption here.
Yes in quantum all occurs at the same time, only difference being we perceive a linear experience. This understanding can make it easy to wrap your head around the fact a price can go up before the event that should cause the spike in price. There have been studies to show we can predict events moments beforehand, so without 'knowing' why peoples interest in something, lets say BTC may increase before they necessarily have rationale to explain why.
So the herd might start buying in droves then 'the event' comes which we dont know what it is so far, then we collect our massive profits thanks to Haejin! lol
Far out, indeed
So the flow of information from our thoughts (sentiment) is slowing being transformed into currency through the blockchain. Information cannot be stopped and through cryptos we are creating true freedom due to the decentralized nature of it. Then when all of humankind's heart chakra energy can be transformed into money, wow that'll will be MASSIVE PROFITS! Lol