DislikedIgrok tell me this...
Imagine two countries starting right now, country A and B.
They put their fresh currencys on open market but they cut all the information about their economy.
The chart.. starts with a horizontal line.. and for argumentation sake, some ppl start to buy and some indicator says the pair is overbought, the ppl start to sell until the 382 rectraction or until the old low (the start).
What does this means? This means that without info, this two currencies will be in a 100 pip range forever even that one of that countries have Oil, Diamonds, Gold, Best Cars in the World, Best Tech in the World, and the other country is a desert.
Or better.. the currency who got bought first, keeps retracing only to fibs or relative recent lows and gets higher forever but this country is the desertic one.
Does this situation makes sense?Ignored
2. The most challenging thing I have ever experienced in relation to the market was teachnig my students to see the obvious. My 14 years trading experience tells me that for as long as a particular formation is in place and not violated the market will behave as prescribed.