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When you start to understand price action, you begin to understand the market in a new way. You know where its going....Ignored
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When you start to understand price action, you begin to understand the market in a new way. You know where its going....Ignored
DislikedYeah, it's a pretty absurd statement on the face of it-- if any of us knew for a fact where price was going, we'd be trillionaires.
It was simply made in contrast to EliteJ's statement that fundamentals give you a "feel" for where the market is going-- price action doesn't give you a feel, it tells you where the market is going, regardless. There's no ambiguity (except in the sense that one must be able to consistently apply their own internal rules to observing PA).
As a very simple example, if something is in a bubble not supported by...Ignored
DislikedCompletely agree here.
Completely disagree here. Actually really, really, really strongly disagree. The idea that fundamentals could give you a better idea of how far a trend will last over price action is ridiculous and definitely not supported by conventional trading wisdom-- bubbles, overshot market corrections, all these things fly in the face of what you just said. "The market can stay irrational longer than you can stay solvent" after all, is a direct affront to the idea that fundamentals can tell you anything other than where a...Ignored
DislikedWhen you start to understand price action, you begin to understand the market in a new way. You know where its going and from there you maximize your returns in the market. No "feel", as that is my whole argument against fundamentals-- there's way too much ambiguity. On an intraday basis, analysts and commentators pay lip service to fundamentals after the movement is done-- completely useless. And their forecasts, while possibly accurate, are irrelevant to day to day trading as the fundamentals in play behind their forecast may not be what's driving...Ignored
Quoting EliteJDislikedPrice action can tell you where price "might" go but only the underlying fundamentals tell what the true value of the currency pair should be. And I'm sure you will disagree with my next statement but here it is technicals do not grant value, that is something warranted by the fundamentals entirely.Ignored
Quoting EliteJDislikedI laughed a little when you mentioned analysts and commentators, I don't see them as knowing anything except regurgitating whats already common knowledge. I would even take your argument a step further by saying that I don't think analysts that swell the media and newsrooms with their "analysis" know very much at all about forecasting the market because if they did then you could get rich by their word and its very well known that is not true. On a side note I used to watch Jim Cramer's Mad Money on CNBC for a good laugh. It was sitcom worthy in my opinion but of course there were people out there who bought his bs hook, line, and sinker.Ignored