Charts in themselves isn't the science, it is all the stock...

Charts in themselves isn't the science, it is all the stock trading programmes that are based soley on moving averages, Fibonacci retracement levels, overbought and oversold levels. Then of course you get false breaks which does my head in.
Charts have an important part for anyone interested in investing FX to property to shares but they need to be part of a larger strategy incorporating economics and fundamentals. As far as AKP is concerned I agree that any announcement (positive or negative) will decide where the sp goes next however in the absence of that announcement have a look how it has been trading over the past years - a chartist dream. Just look at the break above the MA100 a few weeks ago, bullish signe and the sp cantered up $6/$7 however everyone could then see it was in overbought territory and needed a retrace where Fibo levels kick and the break above the MA100 now becomes a major support line.


Spozzie