It looks to me like the daily is the driving force here. The daily chart is almost a textbook picture of a head and shoulders formation which says down. I will hold my short basket and see where it goes.

Basket trading on 1hr or higher timeframes

out of a 4 hr basket in front of the big round 200 number. It was a good one!

Basket trading on 1hr or higher timeframes

Second the motion for longer term....looking forward to the 4hr room!

Still Basketting

Hi Everyone, Quick question. Has anyone made the BUY-SELL.signal indicator into a TLE ? If not, was there a particular reason or just comfortable using other stuff. Would anyone consider making this indi into a TLE? Thanks Guys!

Still Basketting

Nisha...You are absolutely correct in your assessment that there are a handful who are doing this the correct and profitable way. I am new to this thread, but not so new to the FX world and your point about the brokers is also spot on. The big guys ...

Still Basketting

Les, The essence of trading is summed up in my signature line!

The 3 Elements of a Successful Trader

, You can shoot at me whenever you feel like it Strat as long as it is in the nature of making money.... I have had this indicator on my charts since my first trading job in 92'...its just an 8 period RSI with an 8 period MA of the RSI...after all ...

Strat's Long Term Stress Free Trading

Hi Folks, I just wanted to throw out a couple of charts that hold interest for me right now. The first one is my favorite trading vehicle, the GBP/JPY...I like her cause she does not fool around, she moves. We are at a place where this pair has to ...

Strat's Long Term Stress Free Trading

My signature is the essence of trading

Small Facts That are Vital For Survival

TL's and DRSI — Just a quick note here since we seem to be on the subject of both TL and DRSI. Most folks tend to draw these from left to right, meaning in an uptrend they start from the lowest low and then draw up and right for these lines. ...

Strat's Long Term Stress Free Trading

Glad to see that you found what I was talking about......I am looking at this more from a weekly perspective....even on the daily there is a ways down to support IF it breaks.....looks like support from a price point may be that group of highs at ...

Strat's Long Term Stress Free Trading

All the above...wrong pair......AUD/CAD......SR is from wkly line chart Now you will have good luck finding the numbers unless C. wrong hangover is too intense in which case you should take 2 aspirin and try again this afternoon Many Pips

Strat's Long Term Stress Free Trading

You are absolutely correct sir.....definitely not for the faint of heart .....but since I already have a position, I will add below .9640 since a break of that area will most likely create a vacum below it for some nice gains

Strat's Long Term Stress Free Trading

This is the best part.....it should be fun to see how it works out although I have some pretty good ideas for the pair if it should ask! The last swing low on the weekly is .8794 I have a SR line @ .8833 done with a line chart that has been ...

Strat's Long Term Stress Free Trading

Agreed, perspective is everything, I shorted a 1/2 lot back on 10/26 with the first ragged SS bar and got lucky today and they gave me the other half right in front of the high....now we sit on our hands and wait

Strat's Long Term Stress Free Trading

Anybody else watching the shooting star both daily and weekly on the AUD/CAD right here at major resistance. They got within 5 pips of the old high from back in 7/2008

Strat's Long Term Stress Free Trading

I agree, what we have to remember is that PA is the ultimate deciding factor. If that PA happens on or around a predefined SR level then that just adds to the "validity" of what we are seeing. This makes our decision process a little easier, however ...

Strat's Long Term Stress Free Trading

Maximum Adverse Excursion — Hi , I have been reading this thread and when the thought came up about how to set a "fail safe" in case of the disaster trade, I may have something of interest. I use a concept called MAE in my own trading. MAE is ...

Weekly 80/20 Setups

Raczekfx — Hey Raczekfx.....you are starting to sound like a TV preacher......are you passing the collection plate anytime soon??????? Just kidding dude.....many pips

james16 Chart Thread