The Psychological Effects Of Swing Extremes
Part of Art of Chart Reading
I started my chart reading education with the swing trend definition because that was the one that my mentors use. It works great back then and works even better nowadays. I have tested many trend definition methods in historical data and none of them really doing better than the plain old simple swing trend method.
It can be puzzling why this simple concept works so well yet people keep looking for better trend identification method.
So why do people keep trying to better the swing trend method?