Technical analysis in trading involves self-fulfilling nature, as it is the most obvious method for predicting trends. Bollinger Bands utilize a moving average and standard deviations outside it. Fibonacci works due to its principles and proportions, which are grounded in nature and historical retracing patterns. Elliot Wave theory is not ideal for trading because it is heavily reliant on individual interpretation and lacks the self-fulfilling nature of Fibonacci. A base understanding of trading principles is crucial for success, and personal interpretation and improvement should follow.

write 1000 words and add headings article based on this youtube scriptSo I was gonna ask why do you think Fibonacci works and also what about Bollinger Bands why do you think they work well it’s a self-fulfilling nature of technical analysis Bollinger Bands work because they’re the most obvious technical analysis to all mean the generally I’ll work for two standard

Deviations outside a moving average well most people use a moving average but it’s liking so it’s actually in today kind of you know usefulness it’s just a reference point Pitman actually works because it’s in nature it’s been around forever I mean the one I use is your

Forearm is the same size your fault it’s Fibonacci its proportions its principles you know it’s not Dan Brown you know some kind of crazy mathematical secret thing is there to see if something’s moved over history a period of time in a certain way it will retrace

In a certain way and expand in a certain way it’s set in stone I don’t know whatever anything else in trading that gives you that you know that kind of consistency and you know you know when films in minutes what makes a lo from a high or high to a low that doesn’t

Change one of the change do you have to change you change your Fibonacci’s but until that point then you still 80% right in my opinion and that’s that was it I mean that was my kind of lightbulb moment be able to call it you know once I kind of figured out Fibonacci

Proportions and how things move you can slide thing else into it you know it gives you the framework that’s there’s essential are people going to the markets lost and then just get more lost because there’s always a website or a blog or some guy telling to trade this

Way that way then the day once you get a base you can then move around that base and you know do your own learning and just approve until you get that point you really I think just treading water and searching for the holy grail of trading which doesn’t exist it’s my

Understanding that you’re a believer of the Elliot wave theory could you tell us about that no your research is definitely wrong I hate the earlier wave oh do you want to tell us why um I hate the only way because it’s so down to individual interpretation and a little

Wave isn’t only away from till it’s a Nelly wave so they stood the five waves that make it the three correctional phases that make it so there’s lots of ways to make money but the way in any wave starts and the way people interpreted doesn’t lend itself to the

Self-fulfilling nature if everyone in the market strain Elliot waves yeah jump on board but or not well like about Fibonacci it’s set and yeah okay that’s down to interpretation a little bit but it’s much more easy to see a strong directional move or an extended you know candle in the markets

And it is just to jump on the back of Nelly a wave so yeah not really a fun and Elliot wave and oh I teach it I tell people about it why wouldn’t you my point is not tell people what to do is to open their eyes to what other people

Are you know looking up you