DislikedOk . . . agreed but those external factors cause retraces just as oversold situations do and do not go beyond that - I believe that over long term charts do guide us most of the time (not all the time) even though it is a lagging indicator. If everyone looks at the chart and agree and then place their bet aggordingly - the market has to go in that direction and it becomes a self fullfilling prophecy.Ignored
I am no expert on the forex market, and no expert on chart analysis. I am here because I have certain beliefs about the future of the world economy. I am just trying to translate that into profits in the forex market. I thought it might be useful to have a different perspective on things. If it isn't I will just stay out of future discussions.