Support and resistance works because of market participants’ actions and expectations. Charts, chart features like support and resistance are windows into market participants’ mass psychology. Case study.
With 11 hours to go, CME FedWatch Tool indicates a rise in the probability of a rate hike compared to over 40 hours to go. Is this kind of data meaningful to traders?
CME FedWatch Tool on 18 Sep 2017 places the odds of a rate hike at zero at FOMC meeting in 3 days. Links here for traders who wants to access this tool.
Either it is human nature or a grand plan put in place by Aliens/Masters of the Universe, markets end up repeating the same price action. If you can see it repeating, master it, then wealth and success that comes with it will open it’s doors to you. HSI prints a price pattern that has all elements of a trade signal. I talk about the pattern & trading psychology essential to take advantage of such setup.
Did danger pass for Deutsche Bank? Should I buy the rally? I share some tips to separate market fact from fiction/market noise as well as possible actions you can take.