Good Job — You are doing well with your charts and explanations. You are a wise trader to watch the fundamental (news, etc.) as well as the charts. Thank you for your posts and the respect you show. I am grateful for your participation. PT

PowerTrading/The River

thank you — Thank you for the kind words. I am still feeling a little bad and this is the reason for few posts. I hope to feel better soon. Again thank you, PT

PowerTrading/The River

Current — If you are watching the charts on the Gbp/Usd you will see the importance of my last post. We are in a wide area of range and we could still break in either direction. You must have confirmation before entering a trade. Be careful ...

PowerTrading/The River

Current Chart — I am posting the chart of our current situation and I will explain my thinking. I think we must defer to the 4hr chart at this time and there are two very strong areas of support and resistance. The resistance or the point ...

PowerTrading/The River

Hello — Hi all, I have a very bad cold so I was unable to post yesterday. I will try to get some charts up tonight before things break loose. PT

PowerTrading/The River

Overview — Here is an overview of todays action. We broke out of the Zone in the Asian session last evening. The top of the Zone was also the previous days high. I caught it a little late and only got a portion. I made 25 pips on this move. I ...

PowerTrading/The River

Turn — Well we had a pretty good break on the upper end of the zone and then when it turn back we had a bounce off the 38.2 Fib. It can sometimes be difficult to know when price is turning. I think yesterday was more difficult coming off the ...

PowerTrading/The River

Closed — Just closed my short trade for another 30 pips on the day. This is now 55 for the day. We bounced off the 38.2 fib level and started back up. Not sure if this is a continuation of the up move or not but I am done trading for a while. ...

PowerTrading/The River

Zone — I am in a reversal now. I am expecting the 2.0700 area to be a tough area to get through. This could be a quick retracement and we could bounce right back up if the big boys want to take us long. Otherwise I will expect this to run back ...

PowerTrading/The River

TG — Happy Thanksgiving! PT

PowerTrading/The River

Bounce — Took the bounce off the 38.2 fib and just closed for another 20 pips. Good day! PT

PowerTrading/The River

Wow — Great job and you are getting some serious pips. One caution! Resist the temptation to take too many trades. Once you have hit your targets, make sure you don't see a trade where is none. You are doing a great job, keep up the great work ...

PowerTrading/The River

Trade — Little behind posting today. You can see based on my previously posted chart we broke the Zone short and had a run for around 100 pips. The strategy works. PT

PowerTrading/The River

See — This is exactly what I was talking about in my previous post. You need confirmation before entering a trade. I only enter on penetration when there is serious price action.

PowerTrading/The River

Current Chart — Here is our current chart. I have narrowed the Zone to go from the previous high until just recently to the 23.6. Be careful on the break of this high. Be sure you get a break and not just penetration of the Zone. You should ...

PowerTrading/The River

Current — Here is my current Zone going into tonights trading. It is from the high of today back to the 38.2 fib retracement. I may tighten it up to the 23.6 area if we stay in this tight range above it. PT

PowerTrading/The River

Time of day — Wrong time of the day. I do not like to take trades past 18 or 19 GMT unless there is some major event happening. PT

PowerTrading/The River

? — I use the 4 hr to get a look at what is happening over a longer period of time. The short term moves are always just a part of the big picture so you have to know the fibs on the daily and 4hr to have a better guess at where we are ...

PowerTrading/The River

Another 4Hr — Here is a current 4hr chart and notice a few things. First we broke another major trend line long although this one is not quite as strong as the one we broke short. Also notice we have stalled around the 38.2 fib of the down ...

PowerTrading/The River

I think it will be much easier to trade tonight. Yesterday's zone was very wide. Good job on Fibs and charts. PT

PowerTrading/The River