Extracted Thread (per thread starter's request)

5 stars Rocky well done

TheMaxx, thanks, Rocky...

Rocky,

Here is my e-mail address:

{Email Address Removed}

Please contact me, I have a few personnel questions.

If this is not possible, then I understand.

With sincere thanks.

P.S. I will remove this post over the next few days.

Sorry the volume bars are not easy to analyse on my chart. I use MT4 and Im not sure how to change the setings to make them look like yours. Also, I'm doing forex spreadbetting because earnings on this are tax free (gambling earnings are not charged a capital gain tax and the prices and volumes mirror the CFD rates given by the broker - Alpari). Like you said, the volumes may not be so crisp which may work against me.

Thanks for the advice and taking time to look at my chart - im defintiely learning more from you now than all the previous 3 years of trading put together and I can't tell you how much I appreciate it. I took your advice about waiting for a move away from the supply zone and taking a position at a fib level if there was a no supply / demand signal and I did quite well last week. I'm stll learning but I think I'm finally on the right track.

Thanks again, rocky!

I have not included any of my analysis in this Eur Short. I literally just opened up my
chart and saw this setup. Alseobang, I've been busy and will try to respond to your last post, Rocky...

Yes, that Pin Bar is a thing of beauty.. Looking left and up we see the top of the range back to about the 14th, a big round number @ 3400, if we look at the Daily feb 28 we see a Supply Level just above @ 3405.. The only fly in the ointment is the up trend and the lager pattern on the Weekly. The 61.8 FIB is a possible although one could argue that this looks more like a pull back than a Supply Level..Up above at 4361 looks to be the better and may fit the resistance down trend line...The wind is at our back.. The preasure is to the upside.. Shorts / Counter trend trades are ripe but one must be careful due to the prevailing winds.

Me personally, this is a good short / counter.. just cant be to greedy.. Managed correctly it should be profitable.. Position size is always an option.. The FIB on the Daily takes to the 23 for a potential target 3078 also has a some good support looking left Oct 17 and Sept 14 .. And we have solid Resistance if we keep looking left on the Daily.. Appears that the 23 FIB is the pivot area. We see the SM pushing hard north on Jan 10.. .. If we can break 3272 Resistance turned Support we may some additional movement south.


just my 2 pips

TSD

Hi Rocky,

I'm do'in well my friend...The trading God's were good to me this last year. Unfortunately I was “Johnny come lately” to this move...Very disappointing to be sure. I was helping another trader trying to learn how to trade S/D levels inside ranges. This set up was as classic as it gets...Solid Supply Level at the top of the range... Clear rejection with the PinBar.( your fav ).. High volume coming into the level... Text Book to be sure..... No worries, they'll be more just around the corner.

Maybe will see a pull back to the 23 FIB on the Daily... We have a swap Resistance to Support around the 3050 line...Round number… Puts it in the middle of the Demand Zone for the long. The Weekly trend line up may come into play as well..The 1.10 Bar on the Daily was the strongest since low back on 11/13/2012.. SM's are definitely at play....Will just have to wait and see??

May you have a profitable year my friend

TSD

Hi Rocky, I'm a great follower of your thread, although I didn't show up but a couple of times, in periods when you were taking a break.
The amount of work you sustain to explain your setups is awesome, can't say how much I thank you, and I think I can speak for a lot of people here.
Keep it up please...

If you have time, please comment on my setup. If I take this trade, will report live.

Update:

Another setup on CHF; trade taken:

Pecas, Nice job on your charts. I don't have enough time to fully analyze all your charts this morning but at a glance I can tell
that you are on the right track, Rocky...

Stopped out with Plus 18 pips, Rocky...

Thx for your comment; I know I still have a lot of work to do, but nice to know I'm on the right track.

Trade on EUR taken:

EUR went 1 tick from my stop, then retraced. In the end I closed the trade with a 9 tick loss.

CHF went 5 ticks from my target, then I was stopped for a +15 ticks profit.

Like I said, long way ahead...

Unless rocky wants me to post my setups, I'll stop polluting his thread. Even in this case though, I ask permission to post setups once in a while to have your comments.