Indicators to Stop Using
- ADX -> Is too old, and bad for volumes because it's either slow, or inacurrate
- Trend lines -> Subjective
- Stochastic Indicator -> Too old, based on overbought/oversold
- Price levels -> way too many options, they are not psychological levels
- CCI Indicator -> Old, too jerky
- Support and resistance lines -> Too subjective, too many possibilities
- Japanese Candlesticks patterns -> Too old, too easily spottable by the banks
- Chart Patterns -> Too easy to see, better for Stocks
- Bollinger Bands -> Too old, rely too much on overbought/oversold, take out of trends too early
- Fibonacci -> Too many possibilities, flawed (always work when you check it but never in real time)
- RSI -> Too old, created for Stocks, used only for overbought/oversold
- Moving average crossovers -> Everyone can see them, get you in too late
Status:: #wiki/notes/mature
Plantations:: Technical Analysis
References:: 12 Technical Analysis Forex Tools To AVOID Always