Yes both most noobs go for the indicators first and try and make things work by letting the indicators do all the work. But in reality, these same noobs would have been better off starting with price and after learning how to read that THEN maybe employ indicators to refine or provide extra confirmation. Remember, people are lazy by nature and indicators "appear" on the surface to provide a clear picture of what the mkt will do. This is not the case
Does technical analysis works in non-trending markets? You mean it works in trending markets? Wow! Sorry, couldn't resist. Up, down and sideways it works.
Tell that man to wake up! Every market moves in the same fashion. Key word is fashion here. Visually it depends on the pace of of the movement. We can determine at the beginning of a trend how the sequence will unfold. There is No Such thing as an "unforeseen force". The markets are all Predetermined! Except when there's a news announcement, its movement will be disrupted, only to pick back up and start a new sequence. We know a news announcement is coming, so we prepare ourselves to catch to snake. People need to wake up out of this collective coma on this site. Price always does the same thing. Only at times of no activity or extreme activity, things may tend to go a different way. For those moments we have a tool in our data set. You can either use a tick chart or an interactive curve which shows you the disruption of the FUTURES/INDEX offset (best one is ER2/RUT) to determine price it's reversal point at times of extremely high pace (FED, news announcements). Note: In order to See how price always does the same thing, To the tick, you must create reference points. These reference points have to be glued every time you draw them in. You must build you mind, and repeat it day in day out. When you get past that phase, you will then notice that the markets are one big web, which all lead each other. Actually it's a matter of perception. If one says that there's a market leading the other one, then he is correct. If one says no market leads an other, he is correct too. It's all a matter of perception. If someone says Technical analysis works, he is correct. If the other one says it doesn't,...you get the idea The only truth out there is your own thought. Do not ever let someone tell you you're doing it wrong. Think for yourself, instead of quoting a close minded person like Kutklootzak
Chill, asstrail, all I did was post a limerick. Somebody else's limerick. And I'll bet dollars to donuts that Alec Cairncross will continue to be famous long after the last person here posts "astral who?" As far as doing it wrong, obviously a lot of traders are doing it wrong or there wouldn't be so many losers for every winner. Trying to "mind control" the market as you insanely advocate is one of the quickest ways to the poor house ever devised. The only truth out there is what the market is doing, not what anyone thinks (as opposed to actually knows) the market is doing.
Is this a "trick question"? Pick your time-frame, allocate your capital, and give it a twirl. Daily/Weekly/Monthly it looks like it was down and is now putting in a bottom. Intraday/Daily it's up for the 'July 08 contract.
LOL, thanks astral. You take yourself and your trading pretty seriously, which I guess is a good thing.