FOREX and Technical Analysis

[da703trailblaza]

I don't believe in TA (chart patterns) I do believe in Stochastics, Moving Averages and Bollinger Bands though.

If you don't want to deal in forex alone you can always buy currency ETF's FXB = British Pound, FXY = Japanese Yen, FXE = Euro

 

[dey know yayo]

chart patterns show supply/demand inconsistencies that precipitate big moves. inherent logical reason for use. stochastics and bollinger bands are justempirically and historically probable signals. i don't like that.

ETFs don't give the huge profit potential currencies do... allow only for directional trade with no leverage/margin.

i hope CNY is depegged, CNY/GBP and CNY/USD would be great long term investments.