Strat's Long Term Stress Free Trading

Monday is an Australian holiday (so Sunday night for Europe/North America)
Tuesday is a JPY holiday (so Monday night for Europe/North America)
And Friday is the May Day holiday for most of Europe.

Just so's you know ...

Besides the bull flaggish looking formation on the daily Euro, the weekly is also telling a story with the broken downtrend line by holding above it for 5 weeks now. We've also (for now) held above the 1.25 to 1.29 base area of support that has twice formed since fall of 2008

Thanks Jason, and no disrespect to anybody, but when a pair is "trending", I can even teach my blind, deaf and dumb, one legged old man with asthma to make money. The hardest part is getting him to hold onto his money when it is NOT trending - which, if you listen to the "experts", is 85% of the time - this requires DISCIPLINE and PATIENCE which are the hardest aspects of trading to teach (trading psychology accounts for 90% of our success).

I agree, I often look at the daily and think that is a big bull flag for EURUSD.
With regards to your upper resistance line though, you could easily move it up to the more recent highs, have three touches and catch the top of the wick of the intermediate high.
I'm not really prepared to be bullish yet, because it is still a downtrend and lower highs for me and until it breaks up from that we might keep going down (In sure Dr Joe would say that LOL)
Its all down to the USD and the indices I think
Nicola

If you "look" for trades, you will always "create" one to satisfy your hunger to trade. "Creating" a trade is the fastest way to empty your trading account.

Maybe I'm going blind, but I don't "see" any trades - yet.

I having nothing in my crosshairs, but a few things on my radar

dry as a bone.....here

Nice Hammer on the weekly off 0.5500 S/R...

Monthly is shaping up to confim March as a swing low although it does need to close the week 100 pips up from where it is now...

Friday's bar saw this pair break up on Monday's IB...

What he said ....

Evening everyone,

I can't see any trades either....

Hi Y'all,
Not much happening for me this week. If my analysis is correct I think we may see $ strength this week. USDCAD may reverse as we have not made a lower low yet. We also have a wkly Hanging man; not a signal in itself but a warning.

Having looked through the FTSE350 many of the shares look weak with loads of Hanging Men and S/Stars. The ones people flock too in times of despair look strong too; (BATS looks like it will head north).

Still long gold from the dbl bottom a few days ago. The hammer from 2 weeks ago held and it's been North since then.

As Apr comes to an end one has to remember the saying
"Sell in May and come back on St Ledger's day (Sept)"; on current showing the indicies look weak for the month's end.

Evening all
Zip happening on my charts.
Read a good book today (well , flashread!) called the Taylor Book Method. It's by George Douglas Taylor, google it you can download it for free.
It's basically a method for determining short term trend, and the position of the short term cycle within the trend.
If you've already seen it, i'll get my coat......
The only thing , it's an old book, circa 1940's and seems to concentrate on commodities and there's a lot about tape reading.
Anyway, if you get bored, check it out.
Oh, and Linda Raschke often refers to it.

Regards

Just a note on holidays.

ANZAC day is not mondayized so Monday is not a holiday in Australia. The markets are open.

After a weak weekly close against all currencies, one may ask the reason of strong USD Sunday opening. It is always good to look for additional info and I always check out Dollar Index chart to have an opinion re. overall trend of USD.

Love you
could'nt have said it better myself .


....

But I will send what I was just writing..

Wow look at me! pips on my shoulder and rank, praise the Lord.

I am honoured to be part of this team and I believe that we can go far.
I am also fortunate enough to be a senior member in The J16 group and I help inside the PF. I will keep it straight daily and above on here because thats only place to start and it makes me happy to think I am helping the wider family to get it through their thick skulls faster than I did.


This week I would say be careful with these retracemnt Boss bars, the Big Boss has an attitude.

I am going to be very busy for a week off grid and i am quite happy because it is a looking bit dull out there atm. Next week should be firing on all cylinders in the office again for a proper Big boss down intermarket. Having said that if you want to dissect some PASR try gold. All answers on a postcard to Babaji in my absence...(might be time to long those dust futures bro?).

Although I think this is a bull market ...I also think exhaustion is about to set in on this rally. Don't get me wrong I do believe we are in an end game scenario and I can't wait.

I do not like to talk about bars or even set ups too far ahead as I always want to remain flexible as a principle but I can see the arguament for $ weakness. Given there are no trades atm out there it is futile to say I am long against the $ is'nt it?
I can not abide discussion about an unclosed bar with a view to what I will do if it closes that way. If you discuss unclosed bars assume I will stop reading your post. This is different from knowing the levels I am interested in and looking at a bar myself and thinking that could be nice. I do not what to waste any time. None, not a moment, so bear that in mind.

To keep it light i will be issuing shrubbery awards for good work and to anyone who deals well with the knights of Ni (lazy dogs who post crap) who turn up and hav'nt read anything. Also flesh wounds will be awarded to those who are on the path of learning and post crap..Don't let this dissuade you from posting by any means ...lol.
What else..um nope thats it for now.

Together we are stronger
Swami S

If you did not understand this keep reading it until you do.
We are very lucky folks to have this man helping the cause.

I have joined jackos group and have been folllowing his market targets. As you said above, he is terrically accurate and I am one of the traders taking his trades up and down to the entry points jacko was looking for. I am doing that because I noticed when I was doing my spreadsheets, that if I followed where he said the market was going, I could have more trades and they were winning trades.
The reason I am impressed with the jacko system is that he has proven that the can make big winners in both trending markets and nontrending catasclymic markets.
A trader who is a trend trader who can make also thousands of pips in the catacysmic markets that have been collapsing since July 2008 is an out of the box trader. Most of the bankers who are trooping into my office trying flog their products are showing losses of 20-50% in the last 12 months
Thanks Strat for this thread, I am only a new trader, but I am taking this opportunity very seriously, and I am working my way through it to get some extra pearls of wisdom

I got in this guy on the close of the Sunday bar. Sunday usually gives that nice little IB so I treated it like a normal bar and put my entry 10 pips or so off the high. This is because it formed on that beautiful TL support, after Friday's beastly bar failed to close below. The stoploss was only 50 pips so I entered with half the normal position size.

http://img12.imageshack.us/img12/5702/usdchf.gif

I can hear Axl Rose "Where do we go, ooo (Sweet Child), Where do gooo nowww"! With Slash rippin some riff's on his Sunburst Les Paul.

Thank you for this thread and also everybody posting here,strat thanks for the story it was inspiring,and also for the call last week it was confirmatory,presently am long e/j,c/j and eur/cad from last week.thanks

Thanks for the other perception,hope you would teach us your risk management strategies........thanks