Don’t follow someone else’s trading advice blindly
- #11,545
- Aug 4, 2012 3:10am Aug 4, 2012 3:10am
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Always looking the GREAT, never left GOOD Point...
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DislikedEUR/USD: Monthly Analysis
We have two important R & S Levels
Strong Resistance = 1.30000
Minor Resistance = 1.28000 (Break Out Level for 1.30000)
Strong Support = 1.22000
Minor Support = 1.21700 (Break Out Level for 1.18700)
If 1.21700 holds, the best Buy Positions in the Up-Trend are (if you miss each level, you should wait for reverse and next level for opening position):
(Market may open with Gap- 50 pips )
1st Buy Position: 1.2240/50 to 1.24440...Ignored
DislikedHi
Hector using of Price Pattern and Trend drawing strategy (of course with some faults in his teaching) though if you like to follow of Price Pattern and Trend drawing, i will tell you ( in PA , Free Books and Clips) for some good books and systems, referring many years ago before Hector be familiar to FOREX. Though,He is very generous to send clips and infos in Emails , and share his knowledge and experiences.
I use my Software for analyzing the Market, using Volume, Key levels and reading COT infos, and get together all of them...Ignored
Disliked[size=3][font=Calibri]When you research COT report analysis on the net 9/10 commentators will tell you that the group of traders to focus on and follow keenly are the large speculators, the non-commercial traders, as these are the trend followers. This group will be often wrong at the top and bottom of the market when the trend changes, however, the non-comms. always have big gains as they get the meat of the trend. And on the face of it, it seems to make complete sense to see whether they are net long or short and if possible exploit the same trends...Ignored
DislikedHey 4rexx...
Thanks for your interest in my shared works. Additionally, you might find 12 month extremes and multi-year highs and lows in the Commercials can hint at a major low or high formation. Combined with Market Sentiment this COT concept is a dynamic duo.
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DislikedI have nearly finished LW's "secrets of the cot report", so I have a pretty good grasp on the importance of identifying when the comms initiate extreme buying or selling, and will hopefully be delving into SB's"cot bible" on a balearic beach next week. Thanks for the heads up on this research! I am presently collating historic OI numbers on the euro from cftc. ICT is there a source you are aware of where this data can be accessed in an more organised (quicker) fashion?
Persistence overcomes resistance!Ignored
DislikedIf we consider ADR=97 Pips for USD/CHF,
As Open is 0.9685 for this pair today
Max Down-Trend for today is 0.9588, but i think the range is something between 0.9616 to 0.9703, unless at 02:00 US report causes it goes toward 0.9555 in down-Trend or 0.9734 in Up-Trend
KamiIgnored
DislikedEUR/USD: Monthly Analysis
We have two important R & S Levels
Strong Resistance = 1.30000
Minor Resistance = 1.28000 (Break Out Level for 1.30000)
Strong Support = 1.22000
Minor Support = 1.21700 (Break Out Level for 1.18700)
If 1.21700 holds, the best Buy Positions in the Up-Trend are (if you miss each level, you should wait for reverse and next level for opening position):
(Market may open with Gap- 50 pips )
1st Buy Position: 1.2240/50 to 1.24440...Ignored