Hi
I second the view of many made comments here in any points about TA. I may only point out some thing or give a view from outside. A view from the view of an option trader from outside. It will give a little deeper look in the thoughts of real option traders in high developed markets, which do not touch any of your thoughts and experiences. Hope you get that point ! I will start with general experience and then I will come to the real point.
I trade some times short time frames like most of you do. To have the odds in my favor, it is necessary to understand TA and other indicators. Many times, it is only TA or price action, which gives me an odd. Watching price action and trading on price action is just a higher level of knowing different TA. There is no secret behind price action. It is just the next level of simple TA. If you never have been aware of simple TA, price action could be out of the range.
I am as an option trader have some more possibilities, at least in my markets. ( Have learned a lot over the weekend about your possibilities in option trading in your markets and have decide, never again to make any comments on any option strategies which may are traded in your home market, as your market not gives in any way what I am used to and expect from an option market. My comments than for any strategy are more confusing, as they most of all are not makable in your home market )
Back to the subject : As I mentioned, TA or price action is very important for short time trading. Real long time frame option traders do not use TA or price action. Surprised ? But this is also not what Jangan knows or talks about ( Sorry my friend, but not to confuse people, had to mention that ) Most of this long time frame option traders do not even have a clue, where market is heading to
The only thing they are interested in are the moves of the options greeks. Sounds crazy and most may not even understand it, but that is the true and that is one point, I just wanted to point out. I trade some times long time frames strategies with options, as there is no stress with that kind of option trading. The money is less compare to short time trading, but the risk is also very low and that is the reason, why I then some times have to drink a coke :lol:
Take care
DanPickUp