This is in reference to the “Sequence of Market View Analysis” leading to the final outcome for the US Dollar Index (USDX) rally today the 9th of May 2012.
By having a full understanding of the important events that are primarily in the news are equally as important whenever a comparison is made with any technical chart formation. However, there is a difference in maintaining a market call and having an un-bias market sentiment by equally having the flexibility of adjusting strategies whenever the need arises. Timing a market set-up based either on a simple fundamental news analysis or a technical formation, really depends on the trader’s perception and time frame of having a trade position in the market.
Dates & Topic:
May.07.12 USDX weekly chart
"In this weekly USDX chart, the most recent price action has been in a trading range between the 78.08/10 support price and the 81.55 level of resistance as indicated with the broken line. The rising channel and trend line support has been in the defensive every time it falls on a daily corrective move.....
MEGATRADE101.com - The Business of Making the Right Trading Decisions Beyond Charting & Price Action Analysis
No comments:
Post a Comment