Technical analysis

What a chart is

A chart is a history of transactions. Support and resistance are descriptions of where trading clustered. They are not physical barriers. Indicators such as moving averages are smoothed history. They lag by construction. If you use one, know what input would change your mind, and write it down before the session.

Testing against costs

Any rule that traded well in a picture should be asked how many trades it took, what the spread was, and what happened in the period that was not shown in the screenshot. WiT Markets does not publish winning setups. A setup that cannot survive its own costs is a drawing.

A modest use

Charts are good at showing you whether a market is open, halted, or gapping. They are a poor reason to ignore a balance sheet if you intended to be an owner. Match the tool to the job. A long-term shareholder and a day trader are not failing each other when they look at different information.