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Technical traders, who ignore such fundamental issues, instead take positions by analyzing chart patterns with arcane mathematical tools like Fibonacci retracements and Ichimoku clouds.
Technical traders act on what they see, not what they feel will happen next.
The interest of many technical traders was galvanized by the three-year climb of the euro against the dollar, from around 85 cents at the start of 2002 to just above $1.35 at the end of 2004 -- a climb of around 60percentt.
An RSI of 70 is a sell signal for technical traders.
Following the strategy, technical traders would enter their buy orders for NYX on June 13.
The euro's more dramatic drop is a product of other factors, namely the interest of technical traders.
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Casey Stubbs: Well, I personally am a technical trader, which means I look at charts.
The data junkie (technical trader), who obsessively reviews stats and standings, has algorithms for every scenario and searches for hidden gems.
Suffice to say that it is your job as a technical trader to find the one-in-ten stocks on which that indicator is predictive or, for a given security, to find the one or two indicators out of dozens available that are predictive.
After a sell-off earlier in the week, natural gas prices rose on technical buying, traders said.
Despite the stock's stellar technical performance, traders have bet heavily against the shares.
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