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Originally Posted by MickMason
I agree, currency values (intrinsic or otherwise) mean very little, just go with the flow and try not to complicate a very simple concept.
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nothing complicated just keep it simple....a simple way to determine whether you should be long, short, in or out.
whether we like it or not, values and price have everything to do with it and mean a great deal as this is what motivates us to buy or sell in the first place. we are all using one or another derivative method to determine our market stance.
if this is fibonnacci retracements, MACD crosses or simple S&R levels then that is what determines your reality, but others have a different reality thus making this whole trading game possible.
so to say it has little to do with it is an understatement as we or our methods are not always correct in the first place, and there is not only one approach to tackle the problem......