Yes, and No!
No, because trading is combining! One should never rely on only one technique, setup, indicator, etc. to make a trading decision. The magic happens when you combine more, fundamental and technical, stuff.
Yes, can also be considered as a valid answer because some techniques are standing head and shoulders above others.
We can find a good example of this in the blog post from 16th of February entitled "The Hunt For The Sugar Short is not Over. Japanese Yen and Bonds Are Also Presenting Opportunities". The post begins with:
"As piece #M19 "Accumulation/Distribution Setup" suggests, we can expect Corn to break out of the range to the downside. I will look for and take price action short signals."
But what happened?
A single piece (out of 1014) with coordinates #M19 made a brave prediction. It forecasted that Corn futures will break the congestion area to the downside. Here is how the chart looked back then.
Corn was trading in a narrow range when the blog post was published. That post explained that Piece #M19 shows a higher probability for a break to the downside.
See how the chart looks today (02/26/2020).
Without hesitating much Corn broke the consolidation area in the forecasted direction.
But what is hidden inside that Piece #M19?
This trading lesson is focused on Accumulation and Distribution. It is a very simple, yet powerful technique which can detect accumulation or distribution.
And it did it. During that trading range, the price moved sideways. But Piece #M19 detected that Corn was actually being distributed.
That is why down was suggested as the most probable direction of the breakout.
It is impressive how something that simple, explained in just one lesson, might provide such a big trading opportunity! Only one piece... imagine what all 1014 pieces can do together!
Тhe tireless hunter of accumulations and distributions...
Founder of Piece of Trading
P.S. It works in other markets
Trades mentioned here are either taken or will be taken by the author if the right conditions appear. They are NOT recommendations nor any of this constitute investment advice. Please read the Risk Disclaimer
Charts made with TradeStation®. tradestation.com
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