I start my day at 2:30 AM CST USA, and I love it when I see a chart setting up as it did this morning on the E/$. Small risk (just above the .786 fib) for large return (targeting the -.786 fib). The trend on the 4H chart was down. Entry was on the ...

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Happy trading day everyone. Just checking in to see how everyone is doing. Fana, I was surprised to read of your loss, because I thought you were trading a demo account. Life can be full of expensive lessons, but you have willingly volunteered for ...

Technical Analysis Fallacy

Happy trading day to eveyone. Good trades all day and here are two on the E/J. The first is based on a hit of the .50 fib, the second was on a break of the bear flag after a hit of the .618 fib. Both trades had 35 pips stops and 70 pip limits. Here ...

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I entered my first position on the hit of the .50 fib at 1.0666, with a stop just below the .786 fib. My second trade was not on the break of the trend line, but on the hook back to the trend line at 1.0742 (also a .382 fib) about 45 minutes ago, ...

Chart patterns and trendline discussion....

Here is another view of the CAD from a 4H time compression. I see an uptrend and a bull flag that is very tradable on the break if you missed the entry at the .50 fib. I trade the 60M chart and enter/exit on the 10M chart, so my approach differs ...

Chart patterns and trendline discussion....

Just stopping by to say hi. Read your post above and wanted to add the following: "Now Faith is Being Sure of What We Hope For, and Certain of What We Do Not See" Hebrews 11:1

Technical Analysis Fallacy

Edit: after the announcement, it seems pretty clear that the numbers are being engineered and are subject to heavy revisions.

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Been on the side lines since London open waiting for the market to reveal itself. Conflicting indications now, and chart analysis has been correct all morning pointing to a wait trade. Let's see how NY handles this now that the equity markets are ...

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What pattern are you trading to go long? Chart work is a very personal so I am not trying to be critical of your analysis. What I see is that sellers enter the market at the current price levels and there is a big up candle that needs to be squared ...

Chart patterns and trendline discussion....

OK, NFP tomorrow at NY open, but also same report for Canada an hour and half ahead of NFP US. However, before that, PPI for GBP at London. Should be some interesting trading tomorrow. Word of caution: the Labor Department will adjust unemployment ...

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Final trade posting of the day. Just exited a E/J trade for +130 pips. Entry was on a small retrace at the .382 fib, with a stop of 25 pips at the .786 fib. I had to adjust the limit several times as the trade really rolled south. image As I type ...

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Another trade on the E/J that is still open. Entered on the 50 fib retrace that got close to moving over the .786 but did not. I am now protecting the entry on this one and will watch for follow thru beyond 125.00. image Edit: square and out at ...

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Another trade from today, this time on the E/J. Entry after a retrace to a .50 fib with a quick entry (you need to be focused to catch the best entry). Reasonable stop of 20 pips with a target of 40 pips (2 to 1 ratio). image Have also taken ...

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Two trades on the GBP/$ today. The first trade was on the break of a support line at 1.5866, the second trade on a retrace to the .50 fib at 1.5844. Together these trades added up to 63 pips. Trades were made ahead of the BOE announcement to hold QE ...

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I've been neglecting my journal for several months now, and have decided to put more focus here rather than participate in other threads. I will start posting at least one trade every day, or make comments on news events as they come up. This thread ...

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Market is moving and I am in several trades. -- way to go London. I think it is time for me to take a break from the thread, too. Perhaps I will focus on my journal for a while or just sit back and trade. Good trading to everyone and stay focused.

Technical Analysis Fallacy

Good question. I think there has been some confusion about the direction of the forex market structure and liquidity. In my experience, the market operation is normal now and money is being made. Perhaps Volker's proposal to eliminate prop trading ...

Technical Analysis Fallacy

Happy trading day everyone. Been busy today after no trades on Monday and Tuesday. Nice movement today and happy with my bucket of pips. Hope you all got some too. It's been quiet here this week, and it looks like everyone has scattered. I am taking ...

Technical Analysis Fallacy

Sorry to hear about your loss. Perhaps you could post something to explain what you saw in the market at the time you took the trade. I recommend trading with a demo account until you are better prepared to trade.

Technical Analysis Fallacy

Happy Tokyo to everyone. Looks like there is some early action in the markets. I am looking for reasons to short the E/$ and (especially) the E/J. Will keep an eye on the GBP/$ but the action right now is with the euro. Stay focused and be careful. ...

Technical Analysis Fallacy