Not trying to post any competitors site but this post is a lesson everyone should learn, hopefully from others mistakes and not your own..... the difference between wisdom and knowledge. I am not trying to start an argument but trading with the ...

Technical Analysis Fallacy

Well done Akuma, wishing you a continued recovery!

Dispelling Some Myths on Trading Practices

great! move your stop to break even and see if this last dip holds and breaks new highs/lows north, keep moving your stops up as price makes higher dips and ride the waves!

Auslanco - GBP/JPY and GBP/USD (newstrade)

Don't forget the lessons learned from the selloffs late last year, price is short until it can break the resisting fractals. In the short term, until price can break north above 205.07ish it's still short. When that level breaks look to enter long ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Arezab, I’m sorry I didn’t communicate better, I showed a daily chart last night with the expectations to retest the higher s/r levels around 219. Then went to the hourly chart to determine the daily trend which was up, higher highs higher lows. ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Didn't get the deeper retrace I had wanted, and now is getting later into the session than i like so a token long from here somehwhere if seen. Dow's breaking to the top, but Cable is still stuck, IHMO price will range back to the top of the pattern ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

looking to long from the bottom of the zone if seen, price breaking nort from here will raise the entry level on the following retrace.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Price is still in it's corrective down trend making lower lows / highs. If the key support is to hold look for price to form a small consolidation range here to build some energy for it's next move. longs to be taken on a retrace once this down ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

$teve, Nice charts. Everything is relative to the time frame traded. With price breaking the prior high 212.88 look for the 211.90ish area to hold key support for the daily trend. We just bounced off the .50 of that range. In the short term on the ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Looking to long from a pullback. 211.90 or below sets up a short on a retrace back up, possible H&S or 123 in that secnario.

Auslanco - GBP/JPY and GBP/USD (newstrade)

So did you long once price broke your line?

Auslanco - GBP/JPY and GBP/USD (newstrade)

highlight the fib, right click, under properties select fibo levels, add %$ to the description. hope this helps.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Jmho, price is wanting to test the broken support levels 219 and above that were not retested on the drop. but first it has to break the 214 level and the down sloping resistance trendline, look for volatility to increase as that level approaches, ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Look for the resistance trendline to hold this small retrace north and bounce price down to the lower fib levels and retest of the large bull channel. Above the line probably sets up a range period retesting the top until the early US sessions. fwiw.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Indeed! Prior s/r levels off this leg around 211.40. 211.90/75 could also bounce price some.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Lusan, most rule of thumb principals will say not to put at risk more than 2% of your account on any one trade, and not to have more than 10% total risk (All trades combined) at any one time. The general consensus is to use a fixed % for each trade, ...

Technical Analysis Fallacy

You can control the lion with whip and chair but take your eyes off him for a second and you’ll be lucky if he doesn’t take a pound of flesh with his claws or worse make you his meal. Preservation of capital is an absolute must in the markets, ...

Technical Analysis Fallacy

Morge is probably the best source for Pitchfork trading on the web. I have read his book and recommend it, but I will say imho, ( I don’t want to knock Tim out of any revenue from his book sales) The 1st book is basic in his approach and you can ...

Trading With Median Lines book

The author of the thread.

Technical Analysis Fallacy

Northpro, Thanks for the explanation. a

Technical Analysis Fallacy