Never really incorporated fundamental analysis while trading forex, locking in profits or managing risk before news release was all that i considered apart from technical analysis. How useful are fundamentals if you add them to your technical analysis, is it a added bonus or just vain also does any solely trade fundaments ?
and the volume based naked chart/price action / chart pattern is the head of heads / king of KINGS, / DRAGON OF DRAGONS Naked means no indicator, just price
Most days there is no forex news for most currencies. Yet price keeps changing and if you follow the D1 charts you will see the effect of the news, and that's what's important. If there's no news or there's some news which doesn't affect price, you still have to watch the charts.
FX is known to mean revert around central tendencies that are driven by interest rates, flow (& positioning), and expected economic differentials, along with other factors. Smart FX traders analyze a pair and build views on each of the underlying factors before trading. For example, if a pair has been trading within a 10% range, and is currently up about 4%, you might be tempted to put a short on. However, if you know that the central bank is going to raise interest rates, then you would position the other way.
%% Something like that; an exception would be in FAS or FAZ+ Fed changes policy + price reflects that+ on wrong side /LOL Tend to give it more time if Mr Soros adds some negative commeents in WSJ + talk radio noted it\to Bass bro negative comments on Chicoms. I buy mandarin oranges reqardless [ exported from China or whereVer]; FANG sometimes . Real person, real post, real trends, occasional counter\trends..................................
Well fundamental analysis is about processing past events to guess the next fundamental move, like what will be the Fed decision at an upcoming meeting. If you guess it right you can enter in a position that will be profitable. Betting on past fundamental events like the Fed hiked interest rate and dollar should rise will likely fail because market is quite fast to incorporate this information.
Yes sir, I'm really keen on knowing and learning about volume in the market would love to add it into my plan someday
I day trade futures including currency futures. All my charts are volume-based, not time-based. For spot forex, the volume-based chart is a no-no because the volume data is questionable.
Well yes the volume data in forex is questionable as compared to other markets. I have worked volumes with stocks and tested forex and its widely different to make analysis This is why i prefer price action on forex adding volumes would be a completely different approach and that's a lesson for another time.