I didn't have a good feeling about it to begin with, when I saw how large it was, but it may still do so unless it breaks support. I'm hoping it makes a rebound so I can get on board at the next resistance...

EURUSD

Not bad for computer generated S/R zones, what do you think? (told it to cut data before 10/1 off) Have been working on this program all weekend and finally getting it to do as I like.

EURUSD

Usually two, maybe three a week.

How often do u trade?

It shouldn't take balls to execute a well planned high risk/reward, high probability trade. What I am discovering, however, is that it takes patience.

EURUSD

While subjective (like almost everything else in trading), there are some good setups where you can define risk and reward fairly easily. Take a look at the attached chart of USD/JPY. You can see price has been ranging between support and resistance ...

Are Risk/Reward ratios simply nonsense?

What are you using to look for setups?

EURUSD

You'll be selling directly into demand.

Cable Update (GBPUSD)

As said there's no way to know. As mentioned by tunera you might want to hedge. You can read more about currency hedging here. Barring an odd event I can see it getting to 1.6120 again without much trouble, and possibly 1.6170 in the medium range. ...

Cable Update (GBPUSD)

Confluence of weak fib levels with respectable s/r zone. Could be seeing a re-test of this level soon which presents a good buy opportunity with limited risk.

Cable Update (GBPUSD)

Some have already mentioned this but I would also advise caution for people going short too early. This is so far only a minor correction with the 23.6% not yet tested. Because this fibonacci level sits just under the s/r zone broken a few days ago, ...

EURUSD

Indicators are the devil. The only thing you need to trade successfully is an understanding of support and resistance levels (horizontal) and price action. I throw in fibonacci levels for re-enforcement because they're so commonly used but that's ...

Your top 3 indicators

Likely to retest 1.6062 before a move higher.

Cable Update (GBPUSD)

I don't think I've ever seen a chart with more indicators than this. This is how I trade as well...I pick out the major levels and then take profit after it reaches the other side. If it breaks, catch the re-test, if it doesn't, you take a small ...

Cable Update (GBPUSD)

Will be interesting to see what happens at the double top. Will price push through or will the short order stack undoubtedly sitting there give it a good slap in the face?

EURUSD

My post was tongue in cheek, but sometimes that doesn't come across well over text.

EURUSD

Yes, levels are all bullshit. I put my faith in the law of gravity, can't go wrong there.

EURUSD

I had a sentiment item up for a while but I haven't had it on since at least early yesterday. I figured my sentiment is so short term it doesn't really matter anyway. Right now I'm neutral as we're reaching the triple top point and this is going to ...

EURUSD

Nice ranging opportunities until that point. Going to try a long here soon.

USD/CAD

Ladies and gentlemen, I give you the holy grail of financial ruin. Cut your losses now before it turns into -484. Next time don't let your brainless brother touch your account.

EURUSD

And of course being late to the game price never hits my entry, now it's running off.

USD/JPY Discussion