Interesting, so a reverse reflection of the red pattern might look something like this: image

Aussie Trading Room and Cartoons Gallery

Problem is FIB 50.0 is based on a VERY recent high, which we don't know if that will actually be the high, even a few minutes from now. I think there is quite a good chance that there will be NO retracement, maybe not even back down to 1.0360, and ...

Aussie Trading Room and Cartoons Gallery

But there's only 1 day left in the week? What do you consider 'significant downside'?

AUD/USD

Agree. Being successful at ANYthing will require and share certain characteristics and qualities. There are similar qualities and skillsets between being a professional athlete and a professional businessman, does that mean they are similar, and ...

Trading is not a Business

Well I just drew the fib retracement, and I noticed 1.0360 is also the 23.6 retracement level. 50% is a long way off, but yes it could get there, and still remain overall bullish. I would be looking more at the 23.6 or 38.2 levels for re-entry IF I ...

Aussie Trading Room and Cartoons Gallery

Oops forgot the best part. Well, if I got in at 1.0360 I would set a fairly tight stop, around 1.0340. I would not consider exiting my full position, or even going short, unless I saw breaks of both the major and minor 38.2 fib lines I have on my ...

Aussie Trading Room and Cartoons Gallery

Hey DB, first click on Forums, and then choose the appropriate forum(ex. Trading Discussion), then click on Post New Thread. image image

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Nice!

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Thanks Jplazard. This is an impressive success story. 3 years?? That's pretty quick. I'm actually in my 7th year of trading, but I feel I am starting to hit my stride. I'm giving this a couple more years, if I'm not making 6 figures by then I will ...

AUD/USD

Interesting. I'm not quite in that league(40k on a single trade), but I'm starting to think more along those lines. I like to wait for the market to tell me when to exit a trade, but that can also mean a late(sometimes very late), and less than ...

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Ahah good one There are so many great quotes from that movie. Who doesn't love Gordon Gekko?

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Gold and Silver look like they may be bottoming. Notice the small triple bottom on silver which is also a higher low. image image

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I've decided not to TP at 1.0400. Going to try to hold onto this for the rest of the month. Leaving stops where they are. Greed is really starting to kick in image image

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It is? Are you talking about daily R2?...or are you talking about like a monthly R1 or something?

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I disagree with this. You are always exposed to the market's volatility. Understanding(or at least trying to understand) when things are 'priced in'(or better, what are the expectations) and when not is a good idea in general, imo.

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And this.

Trading is not a Business

Brilliant post. One of the best I've read here in a long time.

Trading is not a Business

Hey Jplazard this was actually a great call yesterday. It went right down to 1.0250 and a little lower, as you said. Hope you got out with a nice profit.

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I've caught a little bit of the cartoon fever from DB I think the next move is UP. image

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Agree with that!

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