Point pivot trend line and fibo system (Semafor included) 14 replies
Indicator fix...code included.. WHATS WRONG?!? 4 replies
An interesting read - Daily and 60 Min Strategy - Charts included 3 replies
DislikedMorning Trader V (actually its midnight for me in Australia)
I've been greatly anticipating you analysis on the trade you took on the US/JPY. When you have time I was hoping you could break it down for us.
I noticed the level of support price hit in the retracement, then it reversed and continued in the direction of the major trend. Did you place your stop just above the level of support? How do you determine your profit target(s)? Do you look for a reversal pattern or is it predetermined?
Thanks in advance for your reply
Great words of wisdom all around this thread thanks again to all for sharing. .Ignored
DislikedI believe if there is a retracement to 1.4520 area...that would form a double bottom. Not sure where you are seeing a possible double top
Ignored
DislikedOk I know some of you have been waiting for this and I appologize in taking so long to get it up to you. I ave been very bisy due to some travel I have coming up here next Tuesday.
You will notice that my entry and reasoning are based solely on price action. You will also notice that it is not based 100% on a V formation or a 1-2-3 setup. As you grow as traders you will slowly add other tools to your trading toolbox which is what you will see in my example. I do nto stray comepletely from the overall idea of a V or 1-2-3 I just watch price and pull the trigger when the time is right.
Had my warning though! Learn one thing first before trying to learn 10 things at once. If you try to trade 4 different setups while you are in the early stages of your trading career you will have moments of brillance and many more moments of failure. Once you start racking up the failure you will soon become dicuraged and then start looking for something else that may work for you.
So please please please learn one thing and learn it well. When you can trade one setup profitably then add another tool to your box. You will become a much happier trader that way.
Also I nkow you may be reading this and thinking "man if I only learn one setup how the heck am I ever going to get anywhere?" Let me tell you my friend, you can trade one setup and be wildly profitable and make a comfortable living from just that one thing alone. So find one that you understand learn it and learn it well. Understand its neuances and manerisms and you will soon be on your way to making excelent trading decisions.
Sorry Letitride I used your post as a reply but this is for the benefit of everyone.
And again as always Feb if I am off base from what you are trying to show fols here feel free to remove my post I will not be offended in the least. you have a great place for folks to come and feel welcome about learning how to trade.
Trader_VIgnored
DislikedInteresting note
Cable broke a line of support at 2.05 area
but E/U didn't quite follow.
Also crude was sloppy today.
We had no choice but to sit in our hands and do nothing. Let's see what happens tomorrow.
well, we can play poker. That would be nice !!!!!
Seriously Leighs, I am curious about poker
PeaceIgnored
DislikedWell, when you see the letter "M" on a table, the guy sitting opposite side of table sees a letter "W". Right?Ignored
DislikedOk I know some of you have been waiting for this and I appologize in taking so long to get it up to you. I ave been very bisy due to some travel I have coming up here next Tuesday.
You will notice that my entry and reasoning are based solely on price action. You will also notice that it is not based 100% on a V formation or a 1-2-3 setup. As you grow as traders you will slowly add other tools to your trading toolbox which is what you will see in my example. I do nto stray comepletely from the overall idea of a V or 1-2-3 I just watch price and pull the trigger when the time is right.
Had my warning though! Learn one thing first before trying to learn 10 things at once. If you try to trade 4 different setups while you are in the early stages of your trading career you will have moments of brillance and many more moments of failure. Once you start racking up the failure you will soon become dicuraged and then start looking for something else that may work for you.
So please please please learn one thing and learn it well. When you can trade one setup profitably then add another tool to your box. You will become a much happier trader that way.
Also I nkow you may be reading this and thinking "man if I only learn one setup how the heck am I ever going to get anywhere?" Let me tell you my friend, you can trade one setup and be wildly profitable and make a comfortable living from just that one thing alone. So find one that you understand learn it and learn it well. Understand its neuances and manerisms and you will soon be on your way to making excelent trading decisions.
Sorry Letitride I used your post as a reply but this is for the benefit of everyone.
And again as always Feb if I am off base from what you are trying to show fols here feel free to remove my post I will not be offended in the least. you have a great place for folks to come and feel welcome about learning how to trade.
Trader_VIgnored
DislikedI forgot to post e/u charts
check the notes
I am still bullish on E/U
the "market in pause" candle is a reference for 11/15/2007
peaceIgnored
DislikedThank you for this and another post about DJIA index. Gold price broke down 800 for a second time yesterday. The drop is huge, almost 40$!
It is no way to know if the move is a correction or the first leg of bear market?Ignored
DislikedI won't go that far. The trend has been strong for gold. But you never know. A lot of hedgies are parking cash in gold. The moves was a surprise. In my opinion it will take a lot of load to move that trend. But hey, I can be wrong!! hope not LOL
PeaceIgnored
DislikedFeb2865...
I am not sure if I missed this however what if you have a failed V formation that misses the break? To be specific....if a few bars pass and there is no break...do you wait for another V setup or good to go when it breaks regardless of the number of bars?
To take a guess...if the E/U continues going sideways...is that where you implement your consolodation method?Ignored
DislikedI am glad you answered the question from little brother. I observed that, spot gold price is highly co-related with E/U - they reached top and bottom almost at the same date for a mid-term trend(one to 4 months) .Ignored