Voodoo Lines

What Are Voodoo Lines?

Voodoo lines are the newest technical indicator put out by Simpler Trading. It’s supposed to predict future support and resistance. Any trader worth their salt knows the importance of support and resistance trading. That being said, a superior technical indicator that can predict the future is revolutionary.

ES Voodoo Lines

The new voodoo lines indicator has been quite the buzz of the market, with many people claiming they could receive benefits on the same day. There’s been a lot of conversation around these indicators. Many traders doubt the authenticity of the reviews being posted. This article aims to provide an unbiased and comprehensive view of this new indicator and analyze its public sentiment.

However, there has been a lot of doubt from traders about the validity of indicators and whether or not they are truly useful. Every year, Thousands of traders search endlessly for an indicator to help them trade more successfully. Some find what they are looking for, others search endlessly. To this point, there hasn’t been an indicator that can tell the future. If that were the case, no trader would fail. Is that what these voodoo lines do?

Voodoo Lines Edge

Trading demands us to do a cost-benefit analysis before entering every single transaction. Therefore, it’s imperative to include some outlook on the benefits that Voodoo Lines gives its users.

Voodoo lines claim to have mechanisms that help traders know market trends and give you critical information to determine them. Trends end at support and resistance, indicating that the trend will likely continue.

While the concept isn’t new, trend lines, moving averages, pivots, and many other indicators are used to find support and resistance. Voodoo indicators are slightly different because they remain in the same place over time. The indicators stay consistent like pivots for many years or even decades. These lines are designed to uncover levels long before the price reaches them.

The Voodoo lines tool can help make Fibonacci trading and other tools more accurate. Therefore, it helps traders maximize their profit potential with precise entries, exits, and profit targets. Finding confluence among your indicators helps add more confidence to the trade. When you purchase Simpler Trading’s Voodoo lines package, you’ll get a detailed tutorial explaining how to use it. The more time you spend practicing in a simulator will help you avoid getting in or out too early and efficiently time your market entries and exits.

Another edge this indicator gives its users is that it saves you from having to be tinkering with programming. This can be an excellent tool for people who don’t come from a trading background and are new because it’s relatively simple to follow. And it doesn’t require extensive technical analysis or trading knowledge. The lines appear on the chart and automatically plot support and resistance for you.

Are Voodoo Lines Good?

There’s been a lot of conflict over this indicator since its release. Many traders prefer Elliot Waves because they’re more comfortable with counting waves. Every trading tool has one shortcoming or another.

They, too, have critics. And Voodoo lines are not that different. Contrary to some reviews, the tool doesn’t solve all the trading problems in the world. Nor does it churn out profits every single time. I believe that that’s an exaggeration on all fronts.

Some individuals have come forward with their own experiences. These claim that the trading tool is too complex and confusing for many. Despite the efforts to make the tool easier to use and accessible, there’s still a certain level of difficulty and complexity attached, resulting in incorrect decisions being made or taken.

Most of the confusion also stems from individual interpretations of price action. However, most analysts are still in some form of agreement on the interpretation of past price movements.

What Do Voodoo Lines Look Like?

Voodoo lines are built on similar projecting levels based on long-term wave structures with little ambiguity. The lines are a fix for the biggest problem with Elliot waves. The lines use long-term levels for their projections, and they can remain in the same place for many years until a significant turning point occurs.

An individual can trade against the different voodoo levels without giving importance or regard to what the lines might represent. Still, the presence of these lines can help make more informed trading decisions and help identify the different levels, trends, and relationships.

The color of the lines doesn’t matter if you’re carrying out trades in 5-minute or 10-minute intervals. But it becomes essential for longer-term contracts and moves. Once you have a little practice, you can uncover some common indicators as the prices interact on various levels. You can look at testing and continuation patterns, test and reverse patterns, and spike and fail patterns.

COURSE
Day Trading Course Options Trading Course Futures Trading Course
DESCRIPTION Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action
Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading
INCLUDED

Problems With Them

One problem with the Voodoo indicator is the long-term charts and the continuous contract. The data before the recent rollover is mathematically adjusted when plotting a continuous contract.

In other words, there’s a high probability that you’re being shown prices in places where no contract was ever traded. This means that the indicator can also be unrealistic in the long term.

Many traders have used online platforms to express their inability to understand this indicator’s groundbreaking factors. Investors well-versed in the market claim that this indicator brings nothing extraordinary. Why? Because of the availability of free indicators on numerous platforms.

There seem to be millions of similar indicators available in the market. The argument is that Voodoo was better because of the intersection of fib and Elliot waves. However, traders believe it’s better to draw Fibonacci lines, and Elliot waves yourself. It’s not incredibly difficult to make Voodoo lines yourself.

Final Thoughts

It’s been observed that while John Carter lists many indicators for sale, he only uses a handful of them in his sessions. Suppose you’re someone who already has a couple of indicators that you’re comfortable with. In that case, getting another one and adjusting your trading accordingly seems slight, especially if there’s a high chance of an increased complexity.

You can try out Voodoo Lines if it’s a worthwhile investment and suits your trading needs. If that’s the case, try it out! Don’t let other trader’s thoughts cloud your own. If used right, it can serve as a profitable indicator and help you cash in on opportunities. The indicator is still new. So, it might take some time to be refined to perfection. Try Voodoo Lines with a special Bullish Bears discount here!

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