Epidot:
Like I said in my post, Volume spread analaysis.
The Market runs off supply and Demand. VSA entails looking at strength and weakness, cause and effect, effort and results. along with Candlestick “sequences” , a chain of events signalling weakness in the market or strength. Combining this with Support resistance and fibonnacis you WILL trade WITH smart money, not against it.
You need to understand what phase of the Market life cycle you are in. Are you looking at accumilation, markup or distribution…
Without learning these things, do you no what you are doing? the same as the other 95%… the same as the herd of traders… What are they doing? losing money.
to add. Fundamentals may work but only the the longer term. can assure you that the market is manipulated and good news comes out on market highs before a fall… and why? because the smart money needs idiots like you n me to buy just so they can sell for profit release.
I can prove it if you wish. I can link you to a you tube video where the Market peaked in stocks 2 times in the year before crashing down. You know what new came out on the same day this happened? GOOD news… everyone baught the stocks and got mugged off by the smart money.
Its easy to see. you only need to research it online to see that trading news is a very bad idea, especially short term. Its a Smart money tool, nothing more.
You need to learn supply and demand and to use VSA to know what the SM is doing. Its very powerfull… If you see stopping volume then theres a high chance you have hit the market bottom or at least for a while. If you see accumilation then you know the market will rise.
And people say volume cannot be used in FX but that is totally wrong. Many studies have been carried out between real volume and tick volume. the correlation is around 90%. So it works. Its been proven.
so how to learn all this thing…
Epidot, you must be confident in this VSA system already, it was little over week ago that you abandoned your Zig Zag system on demo for this VSA system you had just found.
Thanks for the info on VSA anyway, I have had a look and it does look great.