Like any other type of Technical Analysis tool, fibs are not to be traded alone by themselves. You combine them with other elements of T.A. But, as one of those S/R tools, they do work.

Are Fibonacci levels overrated?

This is a King-size breakout to the downside. No-one know whether it will pull through or not, but entering long at this junction should be a clear no-no.

Cable Update (GBPUSD)

About EURCAD: Overnight range's broken to the downside in the direction of the Hourly chart trend and I am now looking for short opps below 1.4300 if we get the continuation aspect of the breakout.

Cable Update (GBPUSD)

Why are you guys guess-wondering whether it's bullish or bearish or even entering positions before that massive flat-top triangle gives way? Isnt it better to let market show you its direction than trying to foreseeing it like an oracle or something?

Cable Update (GBPUSD)

Stochs are useless. Who is to determine whether a market is overbought and oversold? certainly not a silly mathematical formula! In trending markets, price could remain overbought/oversold according to the Stoch for weeks.

Directions please? :what ive been doing

Guys, we have the Interest Rates coming out this week. What do you expect? market always slow down prior de Interest Rates.

Cable Update (GBPUSD)

If you're new to trading Wog, you have plenty of material to read here at the FF and on the net. Go slowly but steadly, you got a long road ahead

Brave Heart of GBP/JPY

I would readjust your winning formula as follows: no opinion + system + patience + common sense = success

Cable Update (GBPUSD)

Wrong day to be in a position folks, it's going to be snaking sideways all day long.

Cable Update (GBPUSD)

Pino2, you're bound for a ranging day today. Don't chew your nails. Your stop is secured at breakeven and there's going to be little-to-no action whatsoever in the markets for the rest of the day. The best thing you could do is to shut the trading ...

Cable Update (GBPUSD)

Pretty similar setup on EURUSD and GBPUSD, a flat top triangle. Question is: will 1.3700 be broken to the upside or will the uptrend be breached? Best to wait until either one of those scenarios confirm before taking a position.

EURUSD

Yup, Im not trading today.

Cable Update (GBPUSD)

I have traded through Dukascopy. GBPUSD spread's usually 1 or 2 pips, most of the times it's 2 pips. Plus a small commission of around half a pip.

Cable Update (GBPUSD)

I just dont see any clear market direction on USDJPY throughout the last two weeks. Not the kind of price action I like to see in order to get involved.

USD/JPY Discussion

Seems like a flat-top triangle on the GBPUSD 4H, right below the 2.0200 round number, building presure over that level with consecutively higher lows.

Cable Update (GBPUSD)

Holy crap, did they really state that the funds were segregated and they werent? Nasty!

Who here manages other people's money?

I personally use 30, 50 and 100 SMA for trend-analyzing, especially when they fall in order and moreless parallel to each other. Go ahead, plot them in your charts and scroll back in time searching for those conditions I explained before.

Directions please? :what ive been doing

I always give the same advice to new traders: before digging into trading systems, indicators and whatnot, study what a healthy trend looks like. Spotting solid trends is CRUCIAL to trading success. If I was you, I would stop trading and stop ...

Directions please? :what ive been doing

Yes you can trade alright. Just remember to be very cautious the last week of December and the first week of January. I personally dont trade those two weeks.

November & December trading

Hmmm I am personally happy with anything between 200-300 pips per month. That would be considered by me as a "job done" month.

Gbp/jpy trading Tip