[direct-trade]

Have a few spare moments this weekend?

I spend some free time re-reading a few of my favourite books written by traders for traders, here is a small collection of a few books every trader should have in their collection in my honest opinion. Here they are in PDF version. (many thanks to the traders who posted them around FF).

If you don't have time, I strongly suggest you make time and have a read...I highly recommend the Mark Douglas - "Trading in the Zone" for starters. The Day Traders Bible, by Richard Wyckoff, although about trading in the 1920's, was the original stepping stone for me into tape reading and started me on the journey.

Enjoy the rest of your weekend and happy reading!

[calderone]

All the best!

[The Fool]

Originally Posted by direct-trade

Have a few spare moments this weekend?

Thanks!

[grashid]

visit this link as well

http://www.forexfactory.com/showthread.php?t=207582

[malcolmb14]

DJ asked me to post this here

lovely symmetry all over the place

GU bounce to 1.6700 to 1.6800 ish then down for next wave into 1.6300 min , maybe 1.6300 , but unlikely wave 5 will exceed wave 3

what do you guys think ?

[djambazov84]

Originally Posted by malcolmb14

DJ asked me to post this here

lovely symmetry all over the place

GU bounce to 1.6700 to 1.6800 ish then down for next wave into 1.6300 min , maybe 1.6300 , but unlikely wave 5 will exceed wave 3

what do you guys think ?

Attachment 365066

that is what i am talking about
not even retarded senior forex analysts can go on record and spit out such simple analysis to guide the poor retailers

[calderone]

Originally Posted by grashid

visit this link as well

http://www.forexfactory.com/showthread.php?t=207582

Grashid, posted my response in your thread re: gbp poll but copied the post link here:

http://www.forexfactory.com/showpost...24&postcount=8

[calderone]

Originally Posted by malcolmb14

DJ asked me to post this here

lovely symmetry all over the place

GU bounce to 1.6700 to 1.6800 ish then down for next wave into 1.6300 min , maybe 1.6300 , but unlikely wave 5 will exceed wave 3

what do you guys think ?

Attachment 365066

It is most definately going toward 6600 and I will have to study it around that zone. I plan to go long when my broker opens. Just my charts talking.

[Nene]

Malc,

Ya know, I would think the same thing if this candle hadn't closed below this support line. Gonna watch and see what happens.

Jim

Originally Posted by malcolmb14

DJ asked me to post this here

lovely symmetry all over the place

GU bounce to 1.6700 to 1.6800 ish then down for next wave into 1.6300 min , maybe 1.6300 , but unlikely wave 5 will exceed wave 3

what do you guys think ?

Attachment 365066

[IbkA]

I also wouldn't be surprised if it touches 1.642x before going back up to 1.6635/1.6670 - if it goes up to 1.68x, would be a pleasant surprise but I'd then start looking at 1.69x/1.70x as the next potential short area.

I'll also be placing a pending buy order on USD/CHF at 1.0070/90 as it's posted consecutive weekly higher highs, and higher lows.

With the Swissy, my brief experience with this is the Swiss Bank has said it doesn't want to see its currency at parity with the dollar, so they're going to keep it above parity.

This week is the week I actually start trading my thoughts (okay, did say this last week but this time it's for real), rather than just 'thinking' them and saying what I think is going to happen, then watch 'inanely' as it happens just as I thought it would - a friend reminded me this evening I'd told them last Monday I'd place a pending sell order from 1.6800 to 1.64600, he placed the order but when I saw cable edge past 1.6800, as soon as it retraced to break even, rather than let it hit my stop loss - which it didn't get to last week anyway, silly 'I' deleted my order and never found a 'good time' to enter the market again till 200 pips lower on Friday, just talked the talk with no confidence to take a position , yep, a 'muppet' indeed.


Anyone found that, the more time you spend watching the screen, the more likely you are to delete orders when your pending order's being approached quite rapidly and you don't want to see the trade in negative?

I guess all you experienced ones have never had the same problem?

Originally Posted by calderone

It is most definately going toward 6600 and I will have to study it around that zone. I plan to go long when my broker opens. I also would not be surprised if it touches 6429 before making the journey back to 6600-6700 area. Just my charts talking.

[malcolmb14]

Originally Posted by Nene

Malc,

Ya know, I would think the same thing if this candle hadn't closed below this support line. Gonna watch and see what happens.

Jim

Jim

I was thinking 5 wave structure , with wave 3 completing on the 60 min and wave ending at 61,8% of wave 3

we sure had a ton of buyers off 1.6460 , which was where dj and i were expecting wave 3 to end

Got to see what Monday brings.

The last 2 Mondays have been very interesting on the ES .. .both days they were auto bought , you could tell by the price action . This may take gu up to complete wave 4 , before move down to 1.6300 ish

[malcolmb14]

Just to throw a 15 min chart in there.

The 15 min had point of control at bottom of price range on Friday , this could be accumulation or profit taking .

1.6484 is the critical level to watch going into London on Monday , if we see more accumulation around this level , then 100 % for sure the sachsbots are going to push the US stock market up on Monday taking gu up on that wave 4 into 1.6700 ish

Originally Posted by malcolmb14

Jim

I was thinking 5 wave structure , with wave 3 completing on the 60 min and wave ending at 61,8% of wave 3

we sure had a ton of buyers off 1.6460 , which was where dj and i were expecting wave 3 to end

Got to see what Monday brings.

The last 2 Mondays have been very interesting on the ES .. .both days they were auto bought , you could tell by the price action . This may take gu up to complete wave 4 , before move down to 1.6300 ish

Attachment 365097

[djambazov84]

ok my thoughts for what they are worth..if at all
i have marked with red lines the most obvious places price might wanna go to throw us off and give us bullish impression but hard truth is that something on the weekly got broken and this weekly bearish engulfing candle proves it. I am eagerly wating for retracement @ fibs 61 and 76 and also the red lines of previous bar highs. That would be prime area to short for some brutal swing pips. Like a set and forget trade for a week or two..you know those 300 pip runners we like to get sometimes. GU is the kind of pair that could offer that. I see alot of dollar strength to come but not just now. Not until last weak bears are squeezed for better prices and dummy dead longs to be trapped in some wild spike up to before mentioned areas.
There is a ton of bearish divergence on this up move and I do not even need to pull indie to tell you that. By the way those fake "highs" are made being not too far of each other means to me that extreme prices are heavily shorted starting from 1.68 and that is why i think that would be prime order flow area that price might want to revisit as noted on highest redline. Just be weery of a sudden drop or sudden gap up on sunday. Because we are at a very sensitive are in a no mans`s land price likes to quickly find a support even if it has to go lower to trap some more shorts before completely reversing everything on monday and finishing off as a bull daily pin-bar. Then you know price is def going to 1.67 at least.

I hate being biased and I hate being predictive but this price action is just asking for it and I intend to play the odds of it happening. My short zones 1.6750 -1.68. But an entry can only be obtained with some patience and m5 and m15 candle watching. Thats it. Then ur SL should not be more than 25 - 30 pips because if get hit it means u are wrong in direction for the time being.

So wait for price to come to you because it will. It needs to pick up a lot of untriggered shorts and prev shorts would love to add at insane discount for an hour or two. Just let it come to you....

Sincerely, good luck all and lets make a nice little thread here with clean ideas and healthy explanations. I see ppl like Belekas Mal DT and Worm contributing which is nothing short but great !
So lets keep troll levels to a minimum and make some decent money ! There is more to be squeezed until year`s end retarded liquidity.

[djambazov84]

Originally Posted by malcolmb14

Just to throw a 15 min chart in there.

The 15 min had point of control at bottom of price range on Friday , this could be accumulation or profit taking .

1.6484 is the critical level to watch going into London on Monday , if we see more accumulation around this level , then 100 % for sure the sachsbots are going to push the US stock market up on Monday taking gu up on that wave 4 into 1.6700 ish

Attachment 365115

lol with those bots
but i`m a beleiver you know that very well

[elitejets]

Originally Posted by direct-trade

Have a few spare moments this weekend?

I agree, really good books thanks.
If you only have a spare hour then watch this Mark Douglas video. I found it really really helpful to me:
http://www.4shared.com/file/96740657...er_Market.html

No trading for me for a couple of weeks because I am moving. Looking forward to getting back to it
Have a great week