Should we be worried about this recent breakout? Looks like it couldn't break through resistance.

Forex Made Millionaire Thread for Blog Swing Trades

Perhaps we should let breakout guy back in and just do the opposite of what he predicts? :-). free pips!

Forex Made Millionaire Thread for Blog Swing Trades

Guys, I've just noticed this triangle on my chart (in yellow). It worries me slightly, does it signify a breakout? If so which way or is there no way of knowing? image

Forex Made Millionaire Thread for Blog Swing Trades

Geppy - your a cool dude. My big mistake was setting trailing stops. If I had left them where they were, then I still would have had a trade! Still learning. I'm back in a short above where I was before now though, so not all bad and I have some ...

Forex Made Millionaire Thread for Blog Swing Trades

I opened a short, looks like it will push through though

Forex Made Millionaire Thread for Blog Swing Trades

No one is upset, we are just asking how you came to your conclusion and SteveyD78 said 'un experienced'

Forex Made Millionaire Thread for Blog Swing Trades

why do you think this? still looks like a downtrend on my chart?

Forex Made Millionaire Thread for Blog Swing Trades

I dont understand what just happened? Can anyone give me a clue?

Forex Made Millionaire Thread for Blog Swing Trades

My mistake was exactly how you describe it here . I wasnt sure on the stop distance from entry - thats why I was asking last night. so is it a good rule to set the stop 50% of daily movement? so 150 for gbp/jpy?

Forex Made Millionaire Thread for Blog Swing Trades

100 pips behind entry. I put a trailing stop of 60 pips on last night. was hit today. 100 pips up to nothing in a morning.

Forex Made Millionaire Thread for Blog Swing Trades

Wiped out - should have taken the 100 pips . put it down to experience.

Forex Made Millionaire Thread for Blog Swing Trades

Damn, my stop was hit. in again at 16330

Forex Made Millionaire Thread for Blog Swing Trades

Added short @ 16250, let see how it plays out.

Forex Made Millionaire Thread for Blog Swing Trades

Looks like another opportunity to add a gbp/jpy short at 16250?

Forex Made Millionaire Thread for Blog Swing Trades

100 pips so far and still rolling. Thanks Geppy! nice to wake upto in the morning :-)

Forex Made Millionaire Thread for Blog Swing Trades

This is my first swing trade, so be gentle I'm used to scalping, but I'm not very good at it! So I'm slightly nervous. 'm off to look at the chart again and look at the wider picture to work out support levels.

Forex Made Millionaire Thread for Blog Swing Trades

I'll take that haha. Does Thursdays low of 15981 sound like a more reasonable target?

Forex Made Millionaire Thread for Blog Swing Trades

Thanks!. TP @ 16280 as there seems to be some resistance there, although I will be moving my stop loss to lock in profit. Lets see how it goes.

Forex Made Millionaire Thread for Blog Swing Trades

Entered short@16330

Forex Made Millionaire Thread for Blog Swing Trades

OK, I understand that. I suppose I'm asking if there are any other techniques for swing trading that I should be using to back up my decision/thoughts? Do my charts look ok and are there any glaring mistakes?

Forex Made Millionaire Thread for Blog Swing Trades