$TWTR (Twiter) - Elon bought, Elon unbought ... because of the b
No.
haha. Plain and simple
Plain and simple haha.
Twitter's price behavior is a prime example of why I trust so dearly in the charts, regardless of the noise around the stock, the fundamentals, the macroeconomic context.
I don 't know if the price is respecting the trendlines so neatly because of a market manipulation campaign (as defined by Wyckhoff), because of a hidden agenda from Elong to accumulate positions at cheaper prices (this thesis is appealing). I don´t know, I don´t care.
What do I care about then? Why do I deem this price behavior as an exquisite example of the foundations of our work?
Because, if you master how to read them, the charts show when Elon (or whoever with deep pockets) buys and that's without reading one single newspaper line.
Most importantly, the charts show the relative significance of Elon's decisions, or in other words, whether it is a good idea or not, probabilistically wise, for you to buy regardless of Elon's decisions.
Moreovers, the charts allow you to quantify and value these events in relative terms. The charts allow you to develop an edge and a system that will dictate if you ought to take part or not. I love the charts haha.
Back in April, when I first wrote about Twitter, I was still looking for a systematic approach to convey my ideas (still on it, perhaps will always be), however, back then, the charts were already telling me not to be overenthusiastic about Elon's purchase and the news. At least not yet.
Why? In short, because there was a trendline between Elon's purchase and a smooth uptrend in Twitter's value.
Or, if you prefer, price action was telling me that before the price could move up, there were still one or two important batches of bears than needed to step away from this market.
Back then I drew this trend line and outlined the path with the yellow pointy arrow as a possible path of few resistance.
In case it is not yet clear which point I'm trying to come across with, I'll reinstate it: the charts speak louder than CNN or CNBC in case you master how to read them.
haha. Plain and simple
Plain and simple haha.
Twitter's price behavior is a prime example of why I trust so dearly in the charts, regardless of the noise around the stock, the fundamentals, the macroeconomic context.
I don 't know if the price is respecting the trendlines so neatly because of a market manipulation campaign (as defined by Wyckhoff), because of a hidden agenda from Elong to accumulate positions at cheaper prices (this thesis is appealing). I don´t know, I don´t care.
What do I care about then? Why do I deem this price behavior as an exquisite example of the foundations of our work?
Because, if you master how to read them, the charts show when Elon (or whoever with deep pockets) buys and that's without reading one single newspaper line.
Most importantly, the charts show the relative significance of Elon's decisions, or in other words, whether it is a good idea or not, probabilistically wise, for you to buy regardless of Elon's decisions.
Moreovers, the charts allow you to quantify and value these events in relative terms. The charts allow you to develop an edge and a system that will dictate if you ought to take part or not. I love the charts haha.
Back in April, when I first wrote about Twitter, I was still looking for a systematic approach to convey my ideas (still on it, perhaps will always be), however, back then, the charts were already telling me not to be overenthusiastic about Elon's purchase and the news. At least not yet.
Why? In short, because there was a trendline between Elon's purchase and a smooth uptrend in Twitter's value.
Or, if you prefer, price action was telling me that before the price could move up, there were still one or two important batches of bears than needed to step away from this market.
Back then I drew this trend line and outlined the path with the yellow pointy arrow as a possible path of few resistance.
In case it is not yet clear which point I'm trying to come across with, I'll reinstate it: the charts speak louder than CNN or CNBC in case you master how to read them.