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Technical Analysis - do you really need it?
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[QUOTE="hyperscalper, post: 77083, member: 21266"] [b]Technical Analysis is essential[/b] Technical Analysis is critical to all trading. Yes, I know, "fundamental analysis" can be used for long term trading but day to day trading requires technical analysis. I don't mean Moving Average crossovers. That's generally useless. But Price Pattern Analytics can be useful and, in my case, completely New Ways to derive Real Time Analytics can predict where the market will move in the next few minutes. Forex has been hampered by a lack of Time and Sales information, that's well known. But even in markets which do have T&S, like Futures markets, traders are honestly only guessing as to how that data should be used. I've generated a Virtual Time and Sales in Forex, and so we can do Accumulation and Distribution Analysis, as well as looking at the Depth of Market Bias which tells you ahead of time (yep, amazing) where the market is moving over the next few minutes. So the generic questions "do we need technical analysis?" should be refined, because we all agree we need "good" technical analysis; meaning TA which actually supports reliably making money, as opposed to "guessing". In any trading "guessing" can never work in the long term. What seems "random" to one person, at one time; could change completely when reliable analytics are developed which predict price. No longer are those "wiggles" so random any more ! :) Good Trading or Scalping ! HyperScalper [/QUOTE]
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