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Sounds interesting, but I would never rely purely on technical analysis - even if it can be helpful in finding a suitable entry point.
However, you should never rely purely on it and always pay attention to macroeconomic factors as well. Otherwise I think you can quickly burn your fingers.
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@stefan_21 That's true. Of course, it can never be ruled out. But I think you can reduce the probability of "hasty" purchases :D
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