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Backing Trades Thru Charts

I don't disagree with you at all. But the end of the year is a long way away. And I gotta say, usually the sell-side has had a lot of volume. I'm no bull, but if it's going to go up, I'm going to trade it. Strangely enough, I'm in these trades ...

Silent Service Method

I like this post. I like to plot area's on my charts with fibs and SR where I will be looking for an entry. Wait for price to get there, and see if it gives a signal. Doesn't work all the time, but that way I have a plan and know what to do (or not ...

Jacko's Forex House of Pleasure and Pain

Just a rational thought process....not something I trade, but: Identify major levels of S/R. As price vacillates between levels, draw a box. Look for PA at the top or bottom of the box. If the PA succeeds, ( a bullish pin bar at the bottom of the ...

Trading 'The Turn'

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Silent Service Method

Your 23 fib is also the 50 fib from the last good push down, also at big resistance, and US equities printed a nice bearish pin bar today. Time to exercise a little caution. Stops on the pound moved to 1.4630

Backing Trades Thru Charts

I find it interesting that the 150 point upswing in the Dow this morning didn't even put a dent in last nights selling. Printed a nice pin too. That outside bar one gold though makes me just want to stay flat. Every other day someone gets squeezed.

Silent Service Method

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Backing Trades Thru Charts

It's just my own experience speaking. I've lost the greatest amounts of money directly after a big win. Over-confidence. It's a killer.

Silent Service Method

Putting more emphasis on the potential gain than the potential loss(es) is a good way to lose lots of money.

Silent Service Method

Give me a few more years and I'll probably trust my gut too.

Backing Trades Thru Charts

Thank you. I bookmarked that. Sometimes I've used correlations to justify early entry or exit from a trade with negative results. I am trying at this point in my trading career to stick with the plan for a trade regardless of what other correlated ...

Backing Trades Thru Charts

Thanks...great explanation.

Backing Trades Thru Charts

I don't know anything about wedge patterns, but I am trying to understand your reasoning. Was the rising wedge a bearish pattern? And if so doesn't the fact that it gapped up 75 pips, invalidate the pattern, and make it still a good reason to stay ...

Backing Trades Thru Charts

I would agree with you Chris that it may give a "bump", but FX reflects national uncertainty better than many other available instruments. My thoughts are that empty promises made on TV may push price one way or another, but the large institutions ...

Silent Service Method

I saw it too, but to me it's small bearish pattern, inside a larger bullish pattern, inside a downtrend. So I wish you luck on your short, but I'll still be holding out for 1.58, and if it does drop, I may add another long.

Silent Service Method

So far so good so what. — GBP/USD and USD/CHF Butterfly updates: Adding positions along the way. image

Silent Service Method

Hold the CTRL button and push either the + or - key to zoom-in/out.

Silent Service Method

My rule is: I take 1/2 off at "B", and move stops behind some reasonable SR. Take another 1/4 off at "C", and the last 1/4 at "A"...God willing. At any one of those points the pattern could end, so I take most of my money out on the first target.

Backing Trades Thru Charts

It was a beautiful call you made..what? 600 pips? The pic is my demo acct, trade entered before that last weekly bar printed. My real trades are about where that blue arrow is, one in profit, one slightly underwater. It does take two to ...

Backing Trades Thru Charts