Alan Solarsh, in a YouTube video, states he uses candlestick analysis — a 400-year-old trading method developed by a Japanese rice trader — and contrasts it with modern technical indicators (RSI, MACD, Stochastic, Bollinger Bands, Fibonacci, pitchforks, wedges, pennants), labeling those as lagging indicators that require large price action.
So I use a 400 year old trading strategy called candlestick analysis. It was developed by the most successful trader of all time, was a Japanese rice trader. And this is a tried and tested system.
So most of you.
Are using rsi, macd, Stochastic, Bollinger bands, Fibonacci retracement pitchforks, using wedges, pennants, and all sorts of fancy strategies. But all of these strategies that you're using are lagging indicators. It means that there has to be big price moves, big price action.
For those indicators to move. So if you're following any of these strategies, I'm in the trade about 50 to 60 pips before you guys are in the trade. So you guys are missing 50 to 60 pips of profit by following these lagging indicators. I don't use any of these strategies. The RSIS, MACD's, the cast, I don't use them. Okay. I only use my moving averages and candlestick analysis. All right.
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