Patrick Reid

Now that I'm firmly on a memory lane tip I thought i'd give you this bad boy. If you're an old dog looking for new tricks then look away. If you're retail and think you've seen a decent move in the last 12 months then think again. If you think old school technicals do not work then ask the head of spot at most sell side shops. I did and this is what i got. See below: The yellow line is 200MMA and just look at it. LOOK at it. What does it tell you ? I remember buying dips when the high was 1.40 big fig. That ladies and gents was real pain. I remember Asia in 98. ERM in 92 was fun but that's another story. My favourite time on this chart was when a young looking Draghi took to the stage in London 26th July 2012. Merv King was the boe boss and it changed everything. 5 little words but every CB knew what verbal intervention could do. It came from the king himself. I'll do whatever it takes. Does anyone remember EURUSD at .8232 ? Or what about 1.60 big fig ? The point of this post is learn and respect you history. Technicals and markets have long memories.

Comments