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- JRoyal replied Mar 26, 2010
I'm bearish the pair but the market is 80% of the time is 3 steps foward 2 steps back over and over so I just think now is a 2 steps back spot before taking more steps forward but waiting for it to take the steps back before getting back in is no ...
- JRoyal replied Mar 26, 2010
Hey man, welcome back. I always hesitate to trade in the actual trend direction until we've retraced to the 50% area of a previous move. Most large sellers are waiting for it to go there before getting in so most times it's okay to counter trend it ...
- JRoyal replied Mar 24, 2010
Not saying it's going to break support or bounce but as far as being picture perfect, it's pretty.
- JRoyal replied Mar 24, 2010
4 Hr Chart is showing the most perfect head and shoulders pattern I've ever seen
- JRoyal replied Mar 19, 2010
be careful bears, don't be greedy
- JRoyal replied Mar 19, 2010
I like it. How the pro's trade.
- JRoyal replied Mar 16, 2010
[quote=wormboy;3556671] That sir, was excellent
- JRoyal replied Mar 12, 2010
Amazed that we didn't get a stronger pull back. Covered my shorts when price stalled at 1.5125. Resistance became support. Made money early, watched everyone else make money for the rest of the day. Looks like my original price target area of 1.5600 ...
- JRoyal replied Mar 12, 2010
There are a lot of holes in it because I'd estimate it's only about 10% of what I actually do but it'll give you really good explanation of the foundation of my trading system.
- JRoyal replied Mar 12, 2010
remember the earlier post, make a top, start down, retrace higher to take out stops and then the fall. Happen alot
- JRoyal replied Mar 12, 2010
That seems to be the way things have been going. I trade a 15m chart so wherever I find real support then I'm in but I think you might be right. Funny market right now. Also looking at the EURUSD makes me very even stronger that your prob a little ...
- JRoyal replied Mar 12, 2010
I normally would think about 1.5000 but this market hasn't been doing deep retracements as of late so only time will tell. I'm gonna watch it cautiously.
- JRoyal replied Mar 12, 2010
Wow. I don't think I've ever made 400 pips in 1 day. I tip my hat to you sir. Truly a great job!
- JRoyal replied Mar 12, 2010
That's the name of the game. Because I won't buy here doesn't mean don't buy. Heck, I would never have bought anything higher than 1.5125 but there was 45 pips to be made for those that did so if you've backtested your strategy and found it to have ...
- JRoyal replied Mar 12, 2010
Could be. Must use stops. The market is set up to trick us so I just stick with my trading plan. I can't let this bullish momentum scare me. That said it doesn't look good for the Bears but the market has a memory and this could be a set up for good ...
- JRoyal replied Mar 12, 2010
I'm not a good momentum trader at all. I never buy in sell zones or sell in buy zones. Of course I'm wrong sometimes but I stick with my bias and wait for the market to tell me I'm otherwise. Currently we're in a sell zone so honestly I think any ...
- JRoyal replied Mar 12, 2010
Chart tells me there should be last line of Bears selling in the zone we're in now. If they can't slow this thing down then I don't know when it's gonna make significant pullback. Remember, this is a bounce off the 61% retracement of the Jan 09 - ...
- JRoyal replied Mar 12, 2010
My call was 1.5600-1.5800 range. I use fractals and currently there is still a lot of bearish pressure in the market. I'm expecting a retracement and maybe a bit of consolidation before the move up. I could be wrong though. If it's gonna pull back ...
- JRoyal replied Mar 12, 2010
You may be able to get that but the cycle normally goes, find a top start a downward move, retrace back up that may make a new high to stop out earlier sellers and then the fall. So if you entered as a scalp assuming a small stop, you may want to ...
- JRoyal replied Mar 12, 2010
Tthe market bias is down even though longer term I think were' going right back up but the zone we're in should have a strong reaction to the downside soon. It's all about where you place your stop and your targets but I expect a drop soon. I won't ...