Disliked{quote} I think she has already decided to. Either ways fundamentals don't play a part for me. Price has a way of factoring in the fundamentals, at least on the more general front. So if the USD must weaken, the technicals will conform to it. For instance if the Euro shoots off on Monday, I am happy because being a technical trader I see a fake out setup working out and the guys who follow fundamentals think price shot off because the USD is weakening as the US military decides to wage yet another war. Perhaps in some other part of the world, someone's...Ignored
Thanks Master G for such a wonderful explanation, I quite agree that being on the extreme of the technical still makes you as good a trader as you could ever be, I personally used to trade the news a lot until I realized it was too emotional and further studies showed me sometimes because big London whales could get news before smaller fishes it may be priced in already and make us retail trader vulnerable.
I now stick mostly to technicals but also think its wise to be on the look out for major news releases even though certainly the chart tells the whole story since what we see on the charts is simply human emotions , what people perceive the value of a currency to be most times already taking into consideration fundamentals.
Thank you so much for your help, also do you suggest that trading this method on lower time frames (30 mins - 1hr) could be successful?
I would rather not go below 4 hrs.
10 pips a day keeps poverty away