Uhm ok… I’ve stated my point pretty clearly. Perhaps you should go back and read through the discussion???
If you are not extensively analyzing fundamentals, not basing the markets bias and direction off of fundamentals, and are placing most of your emphasis of your trading decisions purely on chart patterns and price action… Then you are doing exactly what professionals don’t…
That’s my point.
The result of ignoring fundamentals is that you have no clue why price is moving, you have no clue whether or not a pattern is going to succeed or fake-out, you are just hoping that if you trade the patterns enough times, you will come out top due to a pre conceived notion that the pattern gives you an edge. The markets change, patterns don’t behave the same over long periods of time. … And trying to guess if price will respect a S/R level or break through it isn’t guessing anymore when you know the fundamental context the pair is operating in when it reaches that level.
Sure some may look at fundamental more, and the others less… 90% of the posts and threads on this forum suggest most would fall in the latter category… Otherwise I wouldn’t be trying so hard to explain this.