Is this the three kingdoms FTI talks about? I think there is good potential in this approach from what you have shown.
Here is something I have been looking at: If one has a chart made of the sum of the JPY pairs and could identify levels of sup res. Then compared it to a sum of the EUR pairs chart with levels marked up. One would be able to identify confluences against the EUR/JPY. Thoughts welcome. (Also reminds me of something i look at in shares sometimes. confluence between sup res in the sector chart and share chart. Also if the FTSE is coming to wards a level so much the better - But that is not for here...)
I tuned in and out of the other thread on this, and I've made a post of my own questioning whether any purely technical approach could really be profitable. I didn't want my post to get lost in the other thread (it's far too long), so for the benefit of all I've started this thread. Over the last 6 months I've come full circle and am starting to comprehend, from an intellectual perspective, how trading without an eye on the fundamentals nor on any "outside" information can work.
First point I wish to address is terminology. When I say technical...
Ignored
It's called post-hoc rationalization or colorful nonsense on a chart if you wish.
