An epoch season

2009 may prove to be incredibly challenging globaly , however, it presents opportunities for the trader. I have decided to change my style a little to accomodate a more relaxing approach and more analysis. To add to the "naked" approach base on price action and price patterns , S/R becomes more important and momentum monitoring in these market conditions would be extremely helpful. So am looking at zones of support and resistance and the price action at these levels. Like in all things market, the trend or weak side of the market is paramount. The analysis on this will be off the daily timeframe while the main trading is focused on the H4 and H1. I find that after a "direction" is determined , projecting zones from the beggining of the move becomes extremely helpful in terms of targets and retracements. So these levels will be based on fib numbers . As the picture is painted the road signs could be determined and its a matter of following the probable directions given by the market. One important element going foward will be fundamental structure and news. I believe it will become even more critical to be abreast with these developments and analysing its impact. From this I see new relationships coming into prominance. For example, in the atmosphere of "risk", the gold/oil relationship, gold/yen, oil/yen relationships becomes interesting. Almost a mth has past in 2009 and Yen favor is so prominant. In the long run what does it do to Japan ? I reckon it would cripple the country. Gold above $800, on "safety" issues, I reckon would prove naive. Why? Because we are sinking deeper and deeper into a deflationary state. Wait as this will unfold. Think about it. Why would the food complex be in bearish mode and gold is at $800 ? People rather buy gold than a basic necessity like food ? Given a recession, the basic needs get met first as in all cycles . As time moves foward , I see this imbalance shift and I see a sharp reversal in the soft commodities . Truly an epoch season globally this cycle is going to be . Peace .