I agree. However, I DO use standard indicators, but not with standard settings. More specifically, I am interested in horizontal support and resistance, simple moving averages, and typical price ranges as defined by simple moving average envelopes. However, I have no use for convergence/divergence, or the traditional chart patterns, candlestick formations, relative strength index, etc., mentioned by tomorton as not-very-helpful conventional tools for technical analysis. I agree with him in that respect. Really, what I am interested in is the overall market structure, or as schweiz put it...using indicators as the graphical presentation of mathematical models.
I have to concur once again. I copied Ray DeMedici, Nick McDonald, Stephen Whiteside, Scott Bartley, Jim Roof and AJ Monte, but was unwilling to do things exactly their way. I had to appropriate what I found useful and then synthesize it so that it made absolute sense to me and was 100% justifiable from my point of view.
And so my little experiment comes to an end, thus confirming the wisdom of resisting the temptation to trade aggressively, while at the same time validating the ultimate efficacy of my Numerical Price Prediction forecast model in picking tops and bottoms.
This SHOULD have said... "I am planning to enter long positions with respect to AUDJPY and/or NZDJPY."
%% That can work real well; + take good notes or print charts, since patterns may repeat.I thought SEPT would sell off more also.LOL But i dont try to call tops or bottoms; to painful for me. A little bit of time can confirm.