I never thought I will ever be trading the RUB. In fact I just knew what it is a moment ago. It is Russian Ruble. So I am buying USD and shorting RUB with this trade. So why did I trade the Russian Ruble when I know nuts about it? Well I like the price action (pattern) I see on the chart. First, I see a diagonal support. Second, I see a pennant pattern unfurling. Technical traders will know this pattern.
Anything else? My gut feel and experience. Anything else. No, I do not use fundamentals much. So as for the fundamental reasons, I really do not know nor do I really need to know. Because, price action speaks for itself and is always ahead of fundamental reasons. Way ahead. What is important is the risk you bear. Fundamental news and analysis are for journalist and investors who believe they can rely on them to make their investing decisions.
No comments:
Post a Comment