Ok guys I’m new here and am curious as to how many traders here are purely technical. So if you’re purely technical and make consistent profits drop a line.
I know this is a age old debate. But every so often a boost of morale is nice.
I am a pure TA trader. I let the institutions analyse economic statistics and central bank announcements and I understand their conclusions from how they make price move. They cannot hide their tracks, they are called trends.
As Tommor, above. As an aside when trading FX on the Asian session, I have found in the last few weeks that when London opens several major/minor pairs suffer a trend spike. EUR & JPY are key examples.
Trends, levels - it all works, the main thing is to pick tools for analysis, which you will understand perfectly and learn to feel…!
TA is okay to bring good market prediction , but i think its all about short time , there is nothing permanent. ( please don’t take it anyone personally).
its your own opinion , not agree , without TA your trading condition can be a Ship in an ocean without rudder.
Although fundamental analysis provides the strongest price movements, many continue to use technical analysis.
My understanding is that this is due to stability and long term, but I could be wrong.