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- mrspips replied Feb 24, 2011
I am the same. I don't use indicators. They are lagging and useless in my view. I see it that all they are useful for is to give a trader confidence that their view of what was happening with price action is correct. Pure price action trading with ...
- mrspips replied Feb 21, 2011
Thanks
- mrspips replied Feb 2, 2011
The point is that at the moment if you took an entry at 3779 (based on the trendline touch) for a small buy then 1.3810 is the first point we may see some resistance.
- mrspips replied Feb 2, 2011
I agree with Dr. I believe Friday will cause some serious direction.
- mrspips replied Feb 2, 2011
Good call Phanti
- mrspips replied Feb 2, 2011
Great post Robert 99. Thanks for sharing
- mrspips replied Feb 2, 2011
Big thumbs up for anyone who went short this morning
- mrspips replied Feb 2, 2011
I totally agree. I just wanted to express that a random thought with no chart to explain that thought process is not going to help anyone. But yes of course you are right, we do not know market direction and for that reason alone, the only way to ...
- mrspips replied Feb 2, 2011
Predictions are useless unless supported with effective technical analysis. For all the newbies here you should post a chart with why you believe this to be the case.
- mrspips replied Feb 2, 2011
We are now waiting for the producer price index to move the EURO. The biggest market mover today will likely be the ADP Non-Farm employment change. Analysts initially were expecting a 101,000 rise. A lower figure of 148,000 is now on the cards.
- mrspips replied Feb 2, 2011
Khizer you are spot on. It is all about probabilities. It is just about trying to tip the probabilities in your favour.
- mrspips replied Feb 2, 2011
US economic data expected to be strong later in the week. We must wait for signals but going Short definitely is on the cards.
- mrspips replied Feb 2, 2011
Well, that is why we have to constantly monitor how price develops and adjust our technical analysis accordingly.
- mrspips replied Feb 2, 2011
I am waiting for price to break above or below the current limits that Toyko session has formed. Once this is broken I will look for the re-test then enter. This is to avoid risking the false breakout. Only disadvantage is that you sometimes get ...
- mrspips replied Feb 2, 2011
I was just looking at that possibility Kostas. Good call.
- mrspips replied Feb 1, 2011
Of course trendlines work. Get the GBPUSD. Daily chart as that is the one I trade. Draw trendline from 1.6286 to 1.5620. There is so much respect for that line it is unbelievable. Drawing the line from just part way would have shown you that we ...
- mrspips replied Jan 27, 2011
Thanks. Yes I noticed the bounce off the Daily S1 pivot. I took a good decision to exit my trade at 1.3650.
- mrspips replied Jan 27, 2011
Anyone know what caused the EURUSD to shoot up like that?
- mrspips replied Jan 26, 2011
I always stick by the rule that no trade is better than late trade.
- mrspips replied Jan 26, 2011
My day — I took the GBPUSD dance trade at 10am GMT. It re-tested the 10 ema and shot up in the same candle. These are powerful signals but require alot of confidence to enter the market. I took that entry because the new release just prior to ...