I completely agree, have also heard this before many times. When back tested you can see that this is the truth most of the time. This is partially why I closed out my AUD and NZD shorts.

AUD/USD

Congratulations PT for the best thread in the Interactive Trading forums! Also, congratulations to Mr. RedTeam! DrZakir, I couldn't help but laugh when I read the part about you.

EurAnalysis

It actually makes more sense then using all of the technical mumbo jumbo. People love to flood their charts with all these lagging tools. The sad thing is that it never dawns on traders that they should be learning about price action, when it comes ...

Cable Update (GBPUSD)

Any amount of green pips is a good trade! Good job Robert

AUD/USD

I agree with you 100%. Watching Price Action (candle formation) at major support / resistance levels tells us whether we should be buying or selling. The larger the time frame the more significance price action and S/R levels have.

AUD/USD

I also got short earlier today on EUR/AUD. Shorted at 1.243 targeting 1.216 first. If broken then 1.16 again.

AUD/USD

Good for you. Hope you are actually making money off of your trade idea... Do you have any long positions at this time? If so, what was your entry point? What is your SL and TP? It's one thing to say one thing (especially in hindsight) but if you ...

AUD/USD

Major TL being tested at this time. A weekly close above 1.055 should send AUD/USD up to 1.08. It's looking like this will be the most probable move in the short term. 1st Chart - Weekly 2nd Chart - Daily

AUD/USD

Closed out EUR/AUD longs for a loss as TL is broken and confirmed. Took a new short position @ 1.243 targeting 1.216 for first target.

EUR/AUD

Closing out AUD/USD shorts for a loss of a few hundred pips. Looks like price is going to close above 1.053 TL and will make some new higher highs on the Daily.

AUD/USD

AUD/JPY - 96?

Strat's Long Term Stress Free Trading

FOMC Minutes Signal End of Bond Bubble by Tom Essaye Last week the market's celebration surrounding the partial Fiscal Cliff agreement was cut short by a surprise from the minutes of the Fed's December meeting. You see most had expected the minutes ...

Third Screen Strategy - Dr. Alexander Elder

I really like the 50 EMA. It tends to act as solid support / resistance on multiple time frames. I use it in confluence with the 20 EMA. After taking a quick look at the charts price is below 20 and 50 EMA on H1 and H4 but is sitting right ON the 50 ...

EurAnalysis

In Currency Market, What's Old Is New Again By IRA IOSEBASHVILI In 2013, the U.S. dollar has been behaving like its old self. Ever since the financial crisis, the dollar has been treated as a haven, rising when investors are feeling fearful and ...

Third Screen Strategy - Dr. Alexander Elder

Excellent post PrimeStop! Thanks for sharing your perspective.

EurAnalysis

Nice! Yes I made a killing in December when I closed out all of my E/J and A/J longs!

EurAnalysis

Agreed! Follow the money...

EurAnalysis

I've got a few AUD, NZD, and GBP shorts as Price Action told me to sell on 12/19 at major resistance zones. However, I'm also looking to add to my ***/JPY longs if/when we get a retrace and form some new higher lows. Especially with AUD/JPY. I don't ...

EurAnalysis

Correct, that's why its best to keep an eye on 10 year and 30 year Bonds as pointed out above. Major trend already broken, moving will be leaving soon, very soon. The "safe money" will not stay in bonds if they have already wiped out their entire ...

EurAnalysis