4 Hr — Here is a look at the 4hr chart. Notice the blue trend line. It was major support and had held for a few weeks. This is why we refer to the longer time frames for a peek at the big picture. Notice what happened when we broke that line. ...

PowerTrading/The River

Current Zone — Here is the current chart with the new Zone started. I feel much better about this Zone than yesterdays because it falls between the 0 and the 38.2 retracement so far and this is a perfect setup for a break in either direction.

PowerTrading/The River

First Bounce — Now here is a chart with the fibs drawn after the first break. Notice we had a bounce down to the 38.2. This is a common place to retrace to if we are going to continue the move up and we did. PT

PowerTrading/The River

Good — I was speaking of visually here. The charts look good. PT

PowerTrading/The River

Today — Here is what we have been looking at this morning. We had a good break long and it was made a better break because it was the high of Moday. When you get a break of Fibs and a high of the day, you are usually going to get some pips. ...

PowerTrading/The River

Great — Great Job here and nice post. Your charts are set up different but I like the concept. Keep it up. PT

PowerTrading/The River

Good Move — Plenty of time to trade the real account. Good job on this one. PT

PowerTrading/The River

Yep — In your Forex journey you will find that nothing is as it appears. This method, while it seems simple, is actually very complex. There are only a few people out there making a living and millions trading so when you do the math you will ...

PowerTrading/The River

Great — Glad to have you. We are all about the complete learning process and from the few items of yours I read, I think you get it. Good Luck, PT

PowerTrading/The River

Concept — Here is a concept to ponder. Your original question asked "how do you i determine the daily trend". The only way to determine the daily trend is after there is enough price action to determine a direction and by then, it may be too ...

To all the 1K club members!

Great — Thanks, I do want to be clear that I agree with you and I believe I could trade simply with Fibonacci and Trend Lines, but we do have some other tools as well and I use some of them. Good luck as well, PT

PowerTrading/The River

Okay — I will take a shot at this one. You first must identify the trend, period. Go to the longer TF charts and look at the big picture. I would advise drawing some Trend Lines on 4hr charts that encompass as many days as possible. Early on ...

To all the 1K club members!

Yes — Your point is very well taken and I do not disagree with you but I will comment. If you had joined this thread in the beginning it was called the River and it was based solely on a cross of the 62 envelope. It has evolved into its ...

PowerTrading/The River

Point — darko80, One more thing on this point. If you look at my first post today you will see my zone was based on the last move up. My Zone was between the 0 and the 23.6 fib level. Now I did enter early but, even if you had waited on that ...

PowerTrading/The River

Yes — I think you clearly have to link fundamentals that are happening away from the technical charts to our trading. We must be aware of things like inflation, oil prices, anything in the world economy that my influence our price. It is my ...

PowerTrading/The River

Correct — You are correct. I do not use many custom indicators so I do like the LW 50ma to give me an idea of what might happen. If we move through the 50 or the 62 envelope, the probability of a move in that direction becomes more likely. For ...

PowerTrading/The River

Great — I think this zone is great. We need to watch Price Action and the time of day for entering trades as well. For example: If we break the Zone later in the trading day, I would want confirmation with a candle or two underneath or above ...

PowerTrading/The River

Box — Good job here. The only thing I did different on the Gbp/Usd was to leave the original Zone from early and when we moved back up into it, I just extended it over leaving the breakout short from earlier out of the box. I think on the ...

PowerTrading/The River

Bounce — Took a short position on the Fib bounce and locked in a few pips. It has already started to back up but we will let this one run until it makes pips or backs up a few in profit. PT

PowerTrading/The River

First Trade — 1st trade of the week was a good one. I caught this near the top placed a short for 68 pips. If you would have waited for the Zone breakout you still could have banked 60 + pips. PT

PowerTrading/The River