Many traditional traders still look at technical charts with skepticism, at least in public. Most discretionary traders user charts at the very least for tactical purposes, such as picking entry and exit points.
Many modern, algorithmic traders also look at charts with contempt because it’s more art than data-driven science.
Yet, when confronted with the reality of the harmony of price movement one has to surrender to its beauty and admit, indeed like an artful masterpiece, that it is pure and truthful.
Today I was struck by copper.
I don’t trade using waves theories and I’m pretty sure that 8 isn’t a wave theory number, but I still loved the harmonic repetition of this price movement. Eight waves, one stair, a breakout, a new high, eight more ups and downs, another breakout, another new high… A very patient and methodical approach to this pattern has produced excellent returns for many traders, I’m sure. But that’s not the point today. Today, it’s worth just admiring human trading psychology turning into harmonic beauty.