Something Out of Nothing

In this Paradox Trend at the 127.25 a new resistance took over and brought it back to the support area of the 126.40 which there is now a new support at the 126.10 - The primary support on the Daily is at the 126.57 and for the last two days being doing everything it can to break it.

For those who are wondering I trade strictly the E/J - it is the most consistent and volatile pair. I never, never trade multiples - it is the fastest way to lose your money in doing so.

On my trading charts the Support at the 126.40 has moved from bar to bar with the daily support at 126.57 - which is now resistance.

A mind reader as well it seems. That very thought/question was in mine this morning. It was only the price that gave it away.

I am curious what TF your snippets are from. Probably due to differing broker times, I can't seem to find them on mine.

I will send you a PM.

The moving resistance that hit at the 127.25 is now being hit at the 126.81

In my Paradox Trend the only time I will trade against the Daily is when the Support/Resistance is 80+ in the spread. I always wait with patience for my indicators to give the signal it is turning back into the Daily trend; and then I take the trade from the high side for the Daily downtrend or from the low side on the Daily uptrend.

In this scenario I took the short for the Daily Trend off Resistance across the board at the 126.85 - I now have BE set with a 40 TP and the reason is because even though resistance is strong - my indicators is still showing the up. I never, never take a trade unless I can set BE immediately. BE is a winning trade because you do not lose anything. This is why I am 100% on my trades. With this writing I was taken out at BE.

So now I wait for the indicators.

Had a crossing that had placed me into this candle for the Daily Trend and out with 60 pips. So my trading is completed for the day.

A new support level at the 126.20

If it gets below the 126.20 support level then it becomes resistance for the trend down.

I see some similarities to what CrucialPoint says, for example not relying on the past or trading the momentum

That is very true - you ALWAYS trade the trend and nothing else.

Yesterday's low is at the 124.92 and is a crucial point of taking profit.

For right now it is using yesterday's support at the 125.40. According to the indicators - it will break that level.

When this gets down to yesterday's low the market will be oversold and time to consolidate.

If this does not retrace back above 126.57 Daily support level by the end of this trading day - then next week the market is down with the 126.57 becoming resistance.

Next week I will not be on the FF that much but I will give you the supports and resistance levels with the daily, weekly and monthly:

The Daily support is at the 126.57 which looks as though today's daily candle has broken this level and will become resistance. The secondary resistance is at the 128.00 -

The Weekly Resistance 133.68 and support is the 126.00 which also looks to be broken today and will become resistance. The Weekly is now progressing for the downtrend.

The Monthly Resistance 131.58 and support 127.00 which also looks to be broken but virtually is not broken until the next month candle.

With the Daily major support being broken at 17:00 ET today places the next major support area at the 117.00 - As of today the Daily is not oversold but only with the trading charts.

Remember - these levels changes on every bar in a Paradox Trend.

Everyone have a great week-end and God bless.

Hi Dove

Thanks for the levels and have a great weekend yourself

mickey

Dove,

Thanks for your posts, I'm going to watch the way price reacts to the levels you gave for the next week.I wish I'll be able to trade like this one day.Thanks and have a good week-end everybody.