The Authority’ on Price Action Td ameritrade forex liquidation sales. In 2016, Technical analysis economic times forex won the Million Dollar Trader Competition. However, it is my strong belief that traders need only analyze a market’s price action for their technical analysis. Not only is the price action on a chart the purest and cleanest view of that market, but all indicators and other technical analysis studies are based on price action anyways.
So, it should go without saying that when we analyze a chart’s price action without added indicators, we are analyzing the most pertinent and clearest view of that market. They do this because they know that price is the ultimate leading indicator of what price might do next. How many times have you seen a market move the opposite direction that you expected after a certain economic news release came out? They’re very likely were strong price action clues leading up to that news release of what price was most likely to do. Price often leads the news and foreshadows fundamentals and any news results and fundamentals are reflected in the price action. Here are some famous quotes from legendary traders on technical analysis vs. I am primarily a trend trader with touches of hunches based on about twenty years of experience.
Those are the three primary component of my trading. Way down in a very distant fourth place are my fundamental ideas and, quite likely, on balance, they have cost me money. I’ve never met a rich technician. It’s such an arrogant, nonsensical response. I used fundamentals for nine years and got rich as a technician.
In the chart example below, you will notice how well price is respecting the horizontal support and resistance levels. Learning to draw and trade the key chart levels is a very important skill that any technical analyst needs to learn early-on in their trading career. Here we can see the huge moves that often originate from major market tops and bottoms. Theme: Daily Magazine by AF themes. Most of them would be perfectly comfortable plotting an entry trajectory for the Mars rover on the back of a napkin with a broken crayon. As smart as they are though, they are still human, and as such are just as susceptible as anyone to mistakes of a more emotional nature.
And so the stage is set for our grand anecdote. Recently one of our developers, let’s call him Sergey , was contacted via a social network by a beautiful and insightful woman known to him only as Sherry. Unbeknownst to our protagonist, his fellow programmers had decided to play a little joke on him to return the favor over an incident with a LOX-cooled ice fishing pond awhile back . So while Sergey lovingly wrote messages on the virtues of percolation theory and the shortcomings of TV medical dramas, the rest of the team chuckled away at his naiveté while putting together yet another amazing thinkorswim release. When the ruse was finally discovered, due to , our hero was heartbroken.