v forms in AUD/USD 4H chart — Hi fti, and all There are four V-forms (in red shade) during the down trend of AUD/USD. I wonder the latest v-form can produce some profits. Or are we going to have up-trend v-form? Daivd

The System (Irony included)

You said that this month is big player's closing month. Since the beginning of this year, EUR/USD, GBP/USD etc. increased a lot, the prices of them have more chances to down? Or, we may say more selling power for these pairs. Cheers. David

Technical Analysis Fallacy

Thank you all — Fti, Leigh, masterpiecefx: Thank you for your advice. The UD/JPY went down today, but couldn't break 110.5 by now. So God gives me another chance. I will wait until U/J goes up again and break 101.7 level, I will accept the ...

Technical Analysis Fallacy

Thank you Feb. "Be the predator...not he prey.", I will remember this.

The System (Irony included)

A failed trade case study — Dear fti and all the fellow traders: This is a USD/JPY trade I did last week, but with problems now(about -120 pips). Back ground: On Tuesday and Wednesday, Dow Jones Index had two consecutive huge increases. U/J is ...

Technical Analysis Fallacy

Hi, fiveshorts. Yes, different platforms have different formation of charts even you use the same time frame such as 4H. So what is candle or bar chart? In my opinion, they are only a record of price movements. That's all. Suppose a 4H candle, 4 ...

Technical Analysis Fallacy

Good story! But to my surprise, I never heard of this story before (btw, I am a Chinese, born, educated and grown up in China). To me, if the turtle and scorpion are both rational and got rid of emotions, they won't trust each others' promise and ...

Technical Analysis Fallacy

Congratulations to you! Have a good time with your wife and honey moon. For U/C, I regretted also I didn't take the chance of its reversal. Even it is a correction, so what? It has increased almost 1000 pips, quite enough space for long term ...

The System (Irony included)

Thank you Feb, I put my trigger already on USD/CHF and with 250 pips by now. Yes, I agree. Better have no positions before Christmas. DJIA is so unpredictable and unreasonable. I could not understand that the US economy is slowing down to a possible ...

The System (Irony included)

Hi all guys — Hi fti, and all other fellow traders: Today I applied the concept of dancing with the market. I opened a short E/U position around 1.4820 yesterday London open. But I didn't take profit last night, and then US stock market ...

Technical Analysis Fallacy

Hi, alcasco. Maybe Feb is busy. DJIA had a sharp increase yesterday. I gave a warning on USD/CHF. I wonder if anybody noticed that. Any way, I made 161 pips by now, still holding that. I think DJIA may go down again. So, there would be chances in ...

The System (Irony included)

Thank you fti. I will always remember your saying dancing with the market. I think it is great thought beyond mechanical technical analysis. So, for trend determination, we must see the chart not think/assume by ourselves. If the sign of trend is ...

Technical Analysis Fallacy

Hi, fti. Thank you for your excellent explanation. " But the one whos trying to catch both buses will sooner be dead. Crossing the road from one bus stand to another," The above statement means that when you start to open a position, you need choose ...

Technical Analysis Fallacy

Thank you very much for your kind and patient explanation. So, for volatility and wild wings, that, you mean when central banks interfere there would be huge price movements, right? I experienced once this year July, when New Zealand central bank ...

Technical Analysis Fallacy

Thank you. Keep alert, right! And let the market come to me. Cheers.

The System (Irony included)

A possible reversal for USD/CHF? — Hi, guys. We see a kinda hammer candle on shown on Nov. 23 USD/CHF daily chart. So, shall we wait for confirmation of this bar? That is waiting for a day bar which breaks 1.1069 the highest since Nov. 23? ...

The System (Irony included)

Yes. So at this moment reward/risk of opening E/U long positions is not good.

Technical Analysis Fallacy

Very unlikely? In 2000, when tech and Internet stock bubbles went bust, DJIA went down from 11400 to 8000 level, and in this year subprime bubble went bust, DJIA from 14000 to 10000 level? Better not to predict for a trend follower. However, I am ...

The System (Irony included)

Feb, It may sound absurd, but do you think DJIA will go down as low as 10,000 points? From an experienced floor trader, give us your prediction or expectation, please. David

The System (Irony included)

Thank you for your advice. It is a good idea. Actually I did close some profitable positions to buffer the loss that may occur for the positions which I shall hold long. It's my own problem, I haven't transfer my trading style from day-trading to ...

Technical Analysis Fallacy