yep — Well for the head and shoulders pattern as you probably know. You simply take the head of the pattern and project it from the neckline

Maxsmarts Trading Journal and Discussion

I agree that trading the S&P at this point is an excellent way to profit off the head and shoulders. Setting your stop loss beyond the broken neckline and your profit target at about 825.

Maxsmarts Trading Journal and Discussion

20k in thirty days — I didn't say 20 to 30k a day. I said 20k in 30 days. Markets don't always work out exactly as you think they might. So we'll just see. I've posted 20k in a month before though. I don't think it an impossible feat. In ...

Maxsmarts Trading Journal and Discussion

Thanks for your comments — lol...I guess we'll see how it goes.

Maxsmarts Trading Journal and Discussion

The gameplan — The S&P 500 is not yet below 875; however it has validated a head and shoulders on the daily chart about 3 days ago. It had a bit of a retracement to retest the neckline; however, the pattern targets at least 825. Reality is ...

Maxsmarts Trading Journal and Discussion

Tonight — I think we finally have a trend. Tonight I will write what I think it is and How I think we will be able to make at least $20,000 in the next 30 days off of a the equity markets tumbling

Maxsmarts Trading Journal and Discussion

Heres the link to the story you requested — Heres the link to the story you requested url

Maxsmarts Trading Journal and Discussion

Out of GBP/JPY — So we are out of the GBP/JPY for a profit of $2,700 already

Maxsmarts Trading Journal and Discussion

Charts — First is the pound dollar with the break below 1.62 with the daily close below that level. Second is the break below the neckline on the head and shoulders pattern for the pound yen. The target has already been met on the gbp/jpy. ...

Maxsmarts Trading Journal and Discussion

May finally be a trading opportunity — It looks as though we will finish the day with a close below 1.62 for the pound. Next support level is about 1.59. I'm targeting 1.59 with my stop loss at a close above 1.62. I had already entered short ...

Maxsmarts Trading Journal and Discussion

Looks like a breakout to me for the pound — It looks like we are going to close the day below 1.62. I'm targeting 1.59 on the break below 1.62

Cable Update (GBPUSD)

On a fundamental note — I think that Newstraders "Always let the S&P be your guide" located on the forexfactory news articles is a great article to read to see signs of when this consolidation will end and turn into a trend. Watch the 875 ...

Maxsmarts Trading Journal and Discussion

expiration date and volume amount — About a week to two week option. Like say July 16th or later. Nothing too far down the road where these currencies may break out of consolidation. Of course if they do. Just cover yourself with a spot ...

Maxsmarts Trading Journal and Discussion

Exiting Eur/usd long spot position from 1.4050 — I'm exiting my long spot position here at 1.4020 on depressing jobs data. It looks like we are in consolidation mode for the markets with not enough data to push the markets either way. A case ...

Maxsmarts Trading Journal and Discussion

Option on GBP/USD expires — The call I sold @ 1.65 on the GBP/USD expired worthless which means I get to keep the entire premium of $1,070.

Maxsmarts Trading Journal and Discussion

Options — Yes. I could have exited that option initially in the positive for a gain of about $6,000 or put a stop loss in there. I'm just an all or nothing kind of guy usually when it comes to options unless the fundamentals change ...

Maxsmarts Trading Journal and Discussion

Daily chart EUR/USD — Here is a daily chart of the EUR/USD to show the breakout of the flag above the downward trendling line. Note that even though I am targeting 1.47, initial resistance lies at the previous top at about 1.4320. So, possibly ...

Maxsmarts Trading Journal and Discussion

Where do you see the EUR/USD heading Newstrader — So where do you see the EUR/USD heading? It looks like we're going to have a close above the downward trendling line on the daily chart today giving us a bullish breakout signal from this flag. ...

How To Make 1000's of Pips by NFX

Stopped out of short eur/usd position — Stopped out here at 1.4050. for -$1,900. Another bad trade. Going long here however at 1.4050 on the break of the downward descending trendline. Targeting 1.47. Will watch FED announcement tomorrow for ...

Maxsmarts Trading Journal and Discussion

USD/CAD trade disappointing — So the USD/CAD was a disappointment. The option I bought expired worthless after performing very well initially. -$3,650 for that trade. However, I am short EUR/USD here at 1.3860 due to the gloom and doom ...

Maxsmarts Trading Journal and Discussion