How can I identify a trend reversal?

Just curious - anyone tried using Bollinger Bands for this? How did it work out for you?

I hear ya, and I wish it was as simple as spotting one key indicator, but in reality, it's rarely that straightforward. From my experience, trend reversals can be tease; they might show the classic signs, but then continue on the original trend. Darn things can make you second guess yourself! Volume's an interesting one to observe - big spikes might signal a change. Worth noting, though, this isn't a foolproof system, it's just one piece of the puzzle. Anyone else have this happen? How'd you adapt?

Yeah, it's a toughie, right? There's no one-size-fits-all answer. And while I'd love to give you a straightforward checklist, the markets are just too complex and volatile for that. But, one useful tip often overlooked is keeping an eye on news events. Anything that could potentially destabilize the market could lead to a trend reversal. Economic news, policy changes, significant company announcements, all these can be game-changers. Saying that, it's not an exact science and timing is everything. Ever been caught out by news you didn't see coming? How did you recover?

Anyone considered using a Magic 8-Ball for spotting trend reversals? I mean, with how unpredictable the markets can be sometimes, we just might have better odds! Any takers?

So, anyone given thought to market sentiment indicators, like the Fear & Greed Index? Could that extra layer of insight complement technical analysis when scoping out potential reversals?

Diving a bit deeper, have you tried integrating Elliot Wave Theory into your analysis? It's pretty complex, but the idea is that markets move in predictable waves – five in the direction of the trend followed by three corrective waves. Now, if you can get a handle on identifying these patterns, it might give you an edge in predicting reversals. It's not a sure shot, but with practice, you can get pretty good at it. Just wondering if anyone's gone down that wave and what your surf report looks like? Any success stories or wipeouts?

Honestly, tried Elliot Wave Theory before and it was a bit like reading tea leaves to me – too subjective and didn't quite gel with my style. Anyone else find it a bit too esoteric?

Chart patterns, ever dabbled in those? Like head and shoulders, double tops, and cups with handles—tell-tale signs if you can spot 'em right. Just gotta know what you're looking at, y'know?

Absolutely, chart patterns can be nuggets of gold in the right hands. Spot-on observation!