So far in my journey i have bascially analyzed the markets from a TA viewpoint. After all the charts reflect everything, the news, fundamentals, hype, fear, emotions and TA of other traders.
My system is simple… find the trend and ride it. I have used the charts to indentify trends (on a day and 4 hour chart) and then placed the order on a 1 hour chart for a good entry. I use no indicators and on occasion fibonacci for entry and exit. However to predict the future price it is clear to me that you need some grasp on the fundamentals. For example i shorted the pound yesterday and woke up this morning to see a sharp rise. What in the world happened? The pound was clearly trending down and we were in a down wave to boot.
Well i try and find some news and i see that they are meeting about raising interest rates and the market sentiment is that there are rate raises coming (as far as i have found out). So as far as i can tell TA and ignoring the fundamentals alltogether is wrong. I still plan to major in TA however i will need a basic grasp of the fundamentals before i place my order.
Just my observation.