I agree with you Soso and I do use closes for levels but that level is also the end of the tail of a recent weekly doji, or the tails on the daily that show price reacting to a level should not be ignored.

Strat's Long Term Stress Free Trading

EURUSD — EURUSD resistance. The resistance they are talking about is the thick turquoise line on my chart. I have it at 1.4840. It is not a closing price level unless you go back to 24Feb08 and it was a good level Jan-Feb 08. PS - It is not ...

Strat's Long Term Stress Free Trading

EURAUD too I think

Strat's Long Term Stress Free Trading

NZD — That spike / rally was in the last three hours to be fair because of the Bank of New Zealand rate statement. Widely expected to raise rates along with Australia the NZ government disappointed and did not give any hints about raising ...

Strat's Long Term Stress Free Trading

I sometimes buy and sell levels as Alexandra described. Using the SR without the PA is not the Strat stress free way, but it does increase your risk reward because you can use much smaller stops. The market charges you a premium in stop size for ...

Strat's Long Term Stress Free Trading

USDJPY — This was my entry, I sold a break of the 91.70 support and the trendline and my entry triggered last night. We could be forming an inverse head and shoulders reversal pattern, I am watching for price action approaching 90.00

Strat's Long Term Stress Free Trading

Haha I was hoping you would comment, I know you watch all the AUD crosses Thanks

Strat's Long Term Stress Free Trading

AUDCAD — Anyone who has this pair might want to check the level we are at ... go back to 1994 if you can. One to watch ...

Strat's Long Term Stress Free Trading

I use weekly closing prices for drawing horizontal SR. What I have noticed is that subsequent reactions to those levels will cause an instant bounce and be the end of the wick of a candle, so it looks like subsequent touches are candle wicks but if ...

Strat's Long Term Stress Free Trading

I played around to see, looks like an SMA with a value between 150-170 but I can't get it quite right. We're probably in big trouble now.

Strat's Long Term Stress Free Trading

GBPJPY — Same line as my purple one I hope ... Boss (weekly chart)

Strat's Long Term Stress Free Trading

OK I confess I am short cable, actually I am short sterling ... For now its a shorter term trade, and because I have noticed that the Sunday night asian session will continue the strong trends of Friday and sometimes don't stall until Tuesday (I ...

Strat's Long Term Stress Free Trading

I took half off at resistance and my stop is moved up to 90.80 I will review at the end of today but I am watching 91.95, 92.45 and 94.30 as next exits. Will probably move stop to just under 91.50 end of day.

Strat's Long Term Stress Free Trading

Steve Nison calls that a "Tower bottom" there are also "Tower Tops" and I have also seen them called "Citadel" tops and bottoms. There have been a few of them lately on the indices. Here is a good explanation from Pring: url

Strat's Long Term Stress Free Trading

GBPJPY — Technically it behaves quite well, its just a real mover. It has stopped tonight at the 50fib level (which Mrs Watanabe watches) and the 6April swing high at 151.50 I would recommend starting at half your usual stake size with this ...

Strat's Long Term Stress Free Trading

EURGBP ugly? Hehe

Strat's Long Term Stress Free Trading

The market expected Canada to be the next country to raise interest rates, as Australia just did, and a lot of that was priced in. Canada is creating jobs and things are not too bad here. However the BoC came out with the rate statement today and ...

Strat's Long Term Stress Free Trading

USDJPY — Markets charge a premium for information. The more confirmation you wait for the higher the price you pay whether it is in stop size or the risk you will be shaken out because you are further into the swing. Entering earlier is more ...

Strat's Long Term Stress Free Trading

Nice trading - go for it! Keep posting your reasoning, I always learn something from your posts. Nicola

Direct-trade £20k to £200k.

Trendline break, support off a previous support level and a weekly higher low?

Strat's Long Term Stress Free Trading