gold, page-519

Whether TA or FA, they each have their strengths and weakness. You cannot have your cake and eat it.

If i were investing rather than short term trading, then fundamentals and world view big picture stuff is much more important than the daily swings in price. As I said earlier to an investor a blip in the underlying price of the asset class could be a massive move for a short term trader. It is all Risk Reward base and I don't care how people qualify a good entry or exit point. It applies less for investing but the principles should still be valid hence bottom and top picking is off my list of high probable profitable strategies. Sure once in a blue moon you get a ripper but they are usually few and far between.

Just remember we are the dumb money if we think we can go against the big money or market setter (BIG Banks). You have to think like them in this game. Flip a chart on the 4H upwards and observe the swing points and see how they usually magically attract price that either forms a reversal or at least shoots through and reverse in both directions enough to make trading these short term swings viable. The smart money usually leads the retail/dumb money to places they want them to go in order to take out liquidity before a slam. Thursday price action on Gold/silver are classics although I didn't think they could slam prices so hard in both directions in the real trading day!

I have now completely reverse my mind set to the typical retail patterns, trend lines, indicators and exotic EW/Gann/Fibo magic stuffs. They provide context but the big banks that set prices do not look at these patterns. They just seek liquid levels where they know stops are placed to square their positions, wash repeat! Double bottom/Double tops contrary are levels they seek squaring of positions because it is engineered that way. Call me a conspiracy if you like but that is what I see on the charts not some obscure speculative fundamentals that agree with my bias. Good Luck