TrendSpider is an incredibly flexible tool that can be used on any timeframe chart to identify key price levels, trendlines, indicators, support & resistance zones, chart breakouts & breakdowns, and more, automatically. But how do you put it to work for you? What’s the best way to work it as a user? We recommend you approach it as a process.
One of our ads has a headline that basically says: “Humans suck at drawing trend lines.” And this ad in particular has caused a bit of a stir on social media, so we thought that it would make sense to provide some more elaboration on what we mean. Here it is:
Humans Suck At Drawing Trend Lines.
Yup. We meant what we said in the ad. In this post we want to explain why.
Today we’re going to talk about trader psychology and FOMO… that thing we dread but sometimes trade on anyway for reasons we can’t explain, only to realize it later. You know, that thing!
One of the most common questions we get is: how does TrendSpider detect trend lines and what is the method behind it? In this post, we will try to explain this in some detail.
A large part of our market analysis thesis is that there is a wide variety of interpretations for any given price chart. What we mean is, most every trader will see something different in the same chart