Something to think about: all price moves are retraced, at least to some level. This point applies to candles, too. If you do a study of candles and price action, you will find that over 95% of candles are retraced against, usually in the next ...

(binned per thread starter’s request) GEfx Trading Journal

This is an example of how I chain fibs in a trading sequence: image image image image image

(binned per thread starter’s request) GEfx Trading Journal

OK, last trade to be posted today. E/J was a tough trade to figure out until late in the morning. Finally got a break north and after a .50 fib retracement, the PA moved up to the -.27 fib extension, but target was about 10 pips below the fib ...

(binned per thread starter’s request) GEfx Trading Journal

Quick note on stop and limits that are outlined on my trade charts. When I enter a trade, I set deep stops on trades to protect my account. The stops shown on the charts are mental stops, except when the trade has moved +20 pips, which is when I ...

(binned per thread starter’s request) GEfx Trading Journal

Been trading the GBP/$ south this morning. Trade was based on a down trend, retracement to a .618 fib, and quick entry at that price level. Stop was set a 20 pips which was just above the .786 fib, a preferred location for my stops. Once trade was ...

(binned per thread starter’s request) GEfx Trading Journal

Quick trade on the GBP/$ that is now +20 pips, and am protecting the entry price. The PA retraced to a .618 fib (.618 becomes the target when we are 2.5 hours past the NY open), and PA pivoted around that price level for about 40 minutes. Has broken ...

(binned per thread starter’s request) GEfx Trading Journal

Two charts from the E/$ today. The north movement in the pair was viewed as a retracement move from a previous trend south. Trade one is on a hit of the .50 retrace fib that did not follow through. My trade approach is to enter at or near the .50 or ...

(binned per thread starter’s request) GEfx Trading Journal

I think I understand what you mean. It is a shock to me that I would offend you, or that you might take offense to something I post here. I do not think I am helping out here, and it's probably time to exit, at least for a time. fti, if you think of ...

Technical Analysis Fallacy

It appears that I have offended fti and disrupted the thread. I am sorry for both. I have tried to be a good advocate of TAF and of fti, and the last thing I want to do is to offend fti. See you around FF and God bless you all.

Technical Analysis Fallacy

Let me be clear and in part answer fti's comments: the lines are not to be traded but for outlining the trend to those who seem not able to see the trend. Once again, the lines mean nothing, but PA will lead the way. Follow it.

Technical Analysis Fallacy

It's important to study charts in detail. Back testing is great, but you also need to see it develop in real time. Back testing helps you see the importance of candle formations, etc, but real time work helps you see how each candle forms and its ...

Technical Analysis Fallacy

Just my opinion. Enter or add on pullbacks as noted below: image You need to be comfortable with timing and degree of pullback for your entry. Something to study and depends on the currencies you trade. And, I agree that line is not a wall. PA is ...

Technical Analysis Fallacy

You might want to take another look at the 1H chart on Friday for trend analysis. Here is a quick look at your chart: image You are in a parabolic move up when you took a short position. IMHO, once you went short, and the market pushed above the ...

Technical Analysis Fallacy

Again, imho. If I discover that I am wrong, I kill all trades quickly. If I am uncertain at that point, I wait. If I gain a clear picture of what is going on, I will go with that new decision. In the picture provided, it is clear that you are ...

Technical Analysis Fallacy

IMHO. Just added a few lines, if for not other reason than to show the trend. You do not need to be retrospective about this view of the market, but it is for realtime feel of what is going on. In this case, the market is moving up and the small ...

Technical Analysis Fallacy

Again Fana, I need your comments on why the trades before my comments on specifics. In general, I guess you are trying to follow the 5M trend as it develops.

Technical Analysis Fallacy

Happy trading day to everyone! Been in two E/$ trades today and now on the sidelines. Now having a fresh cup of coffee after watering the planters and getting some fresh air. G-20 starts today and the US Senate/House sub-committee has just reached ...

Technical Analysis Fallacy

Fana, I hope this trade activity was in a demo account. Perhaps you could share with us why you made the trades that you indicate on the chart. Fana, I have mixed feelings about your trades. First, you provide liquidity for my trades which makes me ...

Technical Analysis Fallacy

Never be afraid to take profits, but try to never be afraid, too. It takes time to get comfortable in watching PA develop. I watch for the pulses as they develop, then expect a squaring process to occur, and so on. I think there are two kinds of ...

Technical Analysis Fallacy