Technical analysis. Love it? Hate it?
I'm a fan of #technicalanalysis and a believer. Does it produce rock-solid trading trading signals? No, of course not. Nothing does. Does is provide some structure for trading decisions? Yes, it can. Technical analysis signals can be back-tested. They can be forward-tested. You can develop a quantifiable edge.
That said, there can be a great deal of subjectivity to technical analysis. Case in point is the tweet I've included here. Tell me what you see. As noted, I see a bearish channel in #bitcoin. Several people agreed with that call. One commentator pointed out he sees a bullish flag. Truth is, the backbone of that is there too. A bullish flag requires a bearish channel. If the market turns higher, it was a bullish flag. If the market continues lower, it was just a bearish channel.
They say if you present the same data to 10 economists you'll get 10 opinions. Charts and technical analysis can be the same. You can pretty much always find a technical analysis study to justify your bias. Remove that bias, find repeatable patterns, and you may just find an edge.
P.S. Add technical analysis to your algo with the Analytics block on TT: https://lnkd.in/eAR6jdV