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Antifragile


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July 05, 2013, 10:17:47 PM

I'm thinking out loud so please don't take this as advice. Rather looking for comments.

You'll get my usual response for this kind of TA:

Candlestick bodies aren't suitable to derive support/resistance or derive trendlines from since they can be viewed as arbitrary in a continuously traded market like Bitcoin.
The bodies only have meaning in relationship to directly adjacent ones in the form of candlestick patterns.

What you can do instead is to find the largest volume around the target and use the that.

Thanks for the comment. Gives me something to really think about. I notice I follow volume allot with candlesticks, so perhaps you are on to something.

Which types of TA do you find the most accurate?

IAS