Hopefully your not in the fast food restaurant business involving what's advertised in the images versus what you really get. http://www.buzzfeed.com/christianzamora/fast-food-advertisments-vs-what-you-actually-get#.kskqv1bkd http://www.dailymail.co.uk/news/art...eally-look-wouldnt-fit-Big-Mac-large-box.html
Hello, This is a good question one I feel is often misunderstood to those who have not studied TA theory. As can be seen with this forum: there is a lot of skeptics and naysayers who believe TA is voodoo magic but on the opposite side of the coin there are those who believe TA can do many things which in reality are not grounded in any theory. Direct search markets and brokered markets are usually not subject to TA. Dealer markets and auction markets in which liquid, substitutable assets are traded are often subject to TA. Some auction markets can be studied using TA, while other cannot. For example, auction markets in paintings could not be subjet to TA because a painting is unique and not substitable with another painting (kirkpatrick). A substitutable asset is also used synonymously to fungability, which is defined as: interchangeability of financial assets on identical terms. Wrbtrader remarked, "I remember she had these charts showing monthly graph of high, low, close, open prices of homes. She was using the information to forecast prices of homes across several counties". This would be a decent example of where TA may have some value. Ideally the homes are track homes or development homes as it would make the analysis more valuable. When posters such as no bias comment "imho you can apply TA to almost anything", I think they are quite mistaken and I would strongly suggest he or she read a few books before making such bold claims. Another poster watchdaride commented "I was thinking of trying it with sports betting". Looking at a sports betting or poker graph of your previous winnings/losses with hopes to to come to a probabilistic conclusion about future action would be severely misguided. TA is not just the study of patterns and looking at head and shoulders patterns but understanding price action and market sentiment. Thanks.
Yes; you can apply it to a chart of your own account-balance, to see when you've hit a double-top and are about to have a losing month.
You can apply a trend indicator to any time series, financial or otherwise. Whether the application is appropriate depends primarily on how random the series is. Evidently the TA haters are convinced that price series are completely random. Fortunately technical traders know better.