Hi all,
Many people here talk on providing market forecasts on Techinical Analysis(TA). Many new traders also trying to learn all technical fundas.
I am an expereinced trader, and One point I can surely say that Techinical analysis wont take u anywhere in commodites market.
Many technical analysts have failed in recent Bull run in Gold, Silver. Actually this market doesnt move on charts and levels. All charts are drawn as per market movement, and then all Support and resistance levels are drawn.
Commodites move on Fundamentals and its also a news driven market. People should learn basic principles of economics first and should have a good source of market to market information.
Techinicals work only in a range bound market. But its people who trade on fundamentals, who really profit in this volatile market.
Current volatility has made it more risky for techinical analysts. All people who follow TA, should better, consult a fundamental analyst with a proven track record, for better results
Many people here talk on providing market forecasts on Techinical Analysis(TA). Many new traders also trying to learn all technical fundas.
I am an expereinced trader, and One point I can surely say that Techinical analysis wont take u anywhere in commodites market.
Many technical analysts have failed in recent Bull run in Gold, Silver. Actually this market doesnt move on charts and levels. All charts are drawn as per market movement, and then all Support and resistance levels are drawn.
Commodites move on Fundamentals and its also a news driven market. People should learn basic principles of economics first and should have a good source of market to market information.
Techinicals work only in a range bound market. But its people who trade on fundamentals, who really profit in this volatile market.
Current volatility has made it more risky for techinical analysts. All people who follow TA, should better, consult a fundamental analyst with a proven track record, for better results