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Let us remember, you can find patterns in anything if you look for them. For example, you can create completely random price data and find all the traditional 'patterns' used in technical analysis within it.
But what about if you use a trendline and you see you are not alone to react when price bounces off of it when price returns there, does it mean it is a mirage? If price find some resistance along this trendline is it just pure coincidence?
If a trader uses trendlines to map supply and demand on a chart to determine where one group (buyers/sellers) is more likely to manifest their presence then are you implying this is nonsense?
Take volume or TPO profile, i use them to map supply/demand. They form a channel while price is moving, sometimes price will react to a previous static VPOC or a previous value area low/high. As you know, these points can be represented by a line. If i use them to form an opinion about the current price valuation does it mean i am using a mirage to form an opinion? If not then what's the difference between a user who can read a chart with trendlines and another user who can read a volume profile chart?
If charts were created by random computers then i would agree with you, pattern recognition techniques would not help a trader much but since a chart is a representation of human expectations then it's my contention supply/demand can be determined using various techniques whether it be VWAP, Market Profile or trendlines.
By ridiculing other approaches you're not going to foster participation.
You specifically asked me to comment on your chart, by name/mention. Otherwise I wouldn't be in this thread sharing my views.
I trust everyone can be reasonable and open to a useful discussion. If not then why invite me to comment, you had to know I wasn't going to agree with a pitchfork analysis.
I think the diffrence is profile shows exactly what is going on in the market. Vah/val are representations of projected LVN around the current poc. This projection is usually one sigma. Trend lines/channels are similar in a way because you are making projections on where price may bounce. The issue is price usually does not bounce of a strict lvl but off areas. Once you understand the flagging that the mark making hfts create when scaling in you will realize lvls are not as effective as areas. So if you use trend line or profile it's prob. Better to use a channel with a atr as a buffer or with a profile use somthing like the LVN of the prev distribution. But with pith forks murry math lines fib lvls . These lvls are not areas and don't leave room for error, and the projections of these lvls are math drivin so it won't show what is actually happening in the mrk. Just my opinion from a beginner
Ps I think vwap and profile is better than trend channels due to adaptability and less room for user error
I think users would like more than the random line theory thrown at their face. But maybe a opinion On some other potential approaches to the market with a disclaimer of course.