Getting on to the point of the present scenario in the markets, to be honest Technical Analysis (TA) is not working perfectly as it used to. This is probably because of many factors but the main factors being people catching up on the study of TA. And when all of them start trading on the same pattern formation or rules the TA will bog down due to its own weight. Things that everyone knows wouldn’t work after some point in time.
This scenario all the more calls for having deep knowledge about Price Action and understand what an underlying candle or price bar depicts.
If you have been waiting for breakouts on the well known stocks and many more have been waiting for the same thing due to some past events, more the probability of it to give a breakout which fails in the mid course and shakes out most of the weak holders out of the position only to resume the momentum in that direction or gets into the range bound zone.
Therefore, it is very important to know exactly when to get in the position and hold on to it till either your target or your SL is HIT.
Secondly, these days options are gaining lot of traction among the traders. There is definitely an edge with respect to theta decay (time decay) which is a sure shot strategy and works most of the times but the risk associated with it doesnt appeal my appetite.
For instance, as Taleb puts forward the fact that you can be right 99 times out of 100 trades (99% win rate) but that 1% that 1% Black Swan event can cost you everything.
That is the issue with now a days “Options Guru Experts” they dont know how much they dont know about a particular thing. Fooled by randomness at its peak.
So, avoid being lured in the crowd and trade safe.