20071002 1620. Weekly FKLI chart. If you asked 10 traders their interpretation of the chart, you might well get 10 different answers: Head and shoulders, double top, trend continuation to new highs, sideways trading etc etc. One thing for sure, traders are notorious for 'position talk'. They will interpret and read charts to the direction that their current position, long or short is. Human nature makes traders want to be seen to be 'right' on their view. But in trading there are no right or wrong, only what works and what doesn't. Just last week a big trader asked me, 'What say you? I think the lows will be retested soon..." Today the very same trader is shouting 'buy buy...new high".
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