I believe that markets have a rhythm - and I try to tap into that rhythm. There are times (like recent times) where volatility is so extreme that the best strategy is to do exactly the opposite of what conventional systems and indicators tell you to do. I believe that systems have to be adapted to situations. I believe that there is absolutely no statistical or empirical evidence anywhere globally in support of all the technical indicators that are out there, so I personally believe they are all irrelevant. The only item that matters is risk vs reward. Lastly, and this is a tricky part, price action tells a story. The interpretation of that story matters to me, which is more gut than anything that can be empirically tested. I am long MTN because I believe that the market is starting to price the possibility that MTN will reach a settlement in Nigeria. That is a binary event that will catapult the share price. Now yesterday's price rejection tells me that this is as far as the market is willing to go to pay for that story - so I am out as of today. If I am wrong, I am wrong - but that is how I trade.