There was some serious money to be made today with v-formations. Look at gbp/jpy that almost gave 600 pips. Usd/jpy gave 100something pips. Aud/usd almost 100something pips. Usd/cad almost 100 pips. Hope everyone saw those signals and made good ...

The System (Irony included)

Interesting interpretation of the gbp/usd. But that is the beauty of the chart reading i suppose As you know i have read the charts totally different. Scenario 1: I see firstly a possible break of the upper channel. If it breaks and hold then we ...

The System (Irony included)

And in quick time profit target 2 was hit I love it when a plan comes together.....lol

The System (Irony included)

Ok first profit target hit. So i closed on third of my trade. Now i am letting the other 2 thirds run to the next two profit targets

The System (Irony included)

Even though this is a riskier trade i still decided not to ignore the pin bar followed by v-formation. So let's see how this plays out. I will aim for take profit around 2.0585 and then 2.0598 and lastly 2.0620.

The System (Irony included)

Even though i am not a big fan of trendlines (due to their subjectivity) we can see that the price has respected this trend line for now. So if the trendline hold then that would give us an excellent long oppertunity

The System (Irony included)

Remember i told u if price went thru monthly pivot and candle closed under monthly pivot i would go short. So this is how my trade turned out. My 1st profit target got hit.

The System (Irony included)

Right now we are testing the monthly pivot point. If 15 min candle closes under monthly pivot point then i would look to go short and target 2.0598-2.0585. If price bounches off monthly pivot and close above i would see it as good long oppertunity. ...

The System (Irony included)

sorry. Yes that is correct.

The System (Irony included)

yes that is correct

The System (Irony included)

Ok so gbp/usd broke thru some serious resistance this week. And i am happy that the correction has taken place. I will continue to play the v-formations but i will also place one longer term trade. And my profit target on that trade would be the ...

The System (Irony included)

Here was a classic example of V-formation combined with candlestick formation combined with Pivot Points. You would have done very well today if you knew where to enter and take profits. Lemme walk you thru it. First you had an oppertunity to go ...

The System (Irony included)

yes i did take the trade. i got in at close of this pin bar. TP was 2.0667 but it was never hit. So i got stopped out in trailing stop

iandekoker's 5 profit target trades

And here the market gave you a good oppetunity to go long again at discount

The System (Irony included)

yes ur formula is correct. I have daily pivot, weekly pivot and monthly pivot. Those are my big areas that i watch out for because once price breaks daily pivot it will go to weekly pivot and once weekly pivot is broken it will go to monthly pivot. ...

The System (Irony included)

Sometimes it is just too tempting to let a pin bar go by without acting on it. You will come to realize i dont limit myself to only one way of trading. I love my candlestick formations. I like to play pin bars and inside bars. Also i love my fib ...

The System (Irony included)

gbp/usd needs to close above 2.0585 for me to think about going long on this pair. Yesterday was very choppy with little direction.

iandekoker's 5 profit target trades

I did more or less the exact same trade today. I was only looking for the 1st candlestick that did not make a higher high. Once that candlestick's low was broken i went short. No indicators jsut plain price action. Anyway best of luck trading.

PowerTrading/The River

In that case why dont you just draw a S/R line for the ranging market? And go long once resistance is broken or short once support is broken. I get the impression you guys are making something simple very complicated. In reality you are only trading ...

PowerTrading/The River

Ok i have just read thru the whole thread and here is my question: "Why dont you just get rid of all the Envelope and SMA indicators and only trade fibs, because as far as i can see that is what you trade anyway?"

PowerTrading/The River