US equity futures are all down, oil is down, and more talking heads on TV talking about a deeper equity correction soon. Reality sinking in around the world. BOE report today was very interesting, and comments from ECB add to concerns. Time to water ...

Technical Analysis Fallacy

Good trading day to everyone. Still trying to figure out how to make some money today. Markets are kind of spooky right now, so being a little cautious. Many possibilities are developing so we'll see. fti, love the music. Hope you are well and ...

Technical Analysis Fallacy

Short again the GBP/$ at 1.6536, with a stop at 1.6550, and limit of 1.6490. Last try on this one. Edit: moved my stop to 1.6530. Edit: square at 1.6530. Got my 6 pips back! I think it will eventually move back to below 6500, but am changing my ...

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Just shorted the GBP/$ at 1.6534, with a stop at 1.6540. Unknown limit, maybe the 1.6500, not sure. This was in response to the GBP hitting the .786 fib. Edit: I am going to keep my stop where it is and set my limit at 1.6490. If stopped out, I will ...

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Here is a cleaned-up picture of the trades above: image

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My first E/J trade was at 134.06, with exit of second trade at 133.19, for a total move of 87 pips, and I captured 109 pips from that move. This is why I love fibs!

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Moving the stop to 133.47, limit moved to 133.19. Edit: ok, square now at 133.19.

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Re-entered the E/J at 133.72 upon hitting the .50 fib of the move down. Now protecting 133.70 with new target of 133.17 (the -1,27 fib).

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Second trade of the day: short the E/J at 134.06, protecting 134.04, targeting 133.50. If stopped out, will stick with this one for a re-entry. Edit: 133.90 is the -.27 fib where we are currently finding some support. 133.63 is the -.618, and 133.51 ...

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First trade today on the GBP/$. Counter trend trade. image

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Have not had time to post here in a while but thought I would add a few notes on recent trading. Today was a good trading day for those who can figure out the trend and use fibs. I will start with the E/J and several trades I made this morning. The ...

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I just saw the TIC report and remembered this post from last week. It would apprear that the topic of the article is not all together correct, at least not yet.

Technical Analysis Fallacy

Good trading day to everyone. Do not want to try to predict the future, but US futures all way down, European and Asian equities have fallen, oil is down, and there is an article about the pound being overvalued. Let's see if currencies will follow ...

Technical Analysis Fallacy

This is interesting if it's true. There is a rising level of mistrust of the US government among US citizens right now, and if this is true, we could see the beginning of some serious internal problems in the USA. Could make the disruptions at ...

Technical Analysis Fallacy

MaMood, wanted to know if this push to 94.60's was what you had in mind? After a nice ride down, I am waiting to see if it will push further today. Good trading everyone.

Technical Analysis Fallacy

Yes, the last two days have been difficult. Long hours to wait for just the right trade setups. I learned several years ago to be very selective in August trading, but the markets will eventually move. Equity markets in US are bouncing all over the ...

Technical Analysis Fallacy

Just read that guys other posts and he states in one that he has 7 months of experience. I think that says it all. Been listening to the news this morning. Bad retail sales, more talk of a correction in equities, and a general "feel" that another ...

Technical Analysis Fallacy

I have been playing chess to kill the time before the fomc announcement. My computer is developing a superiority complex - lol.

Technical Analysis Fallacy

Hi everyone. Still trying to get over the fti post, but have had a very good trading day today. I am taking a break from my journal (which I started after receiving a PM suggesting my dronings would be better separted from this thread - lol) and ...

Technical Analysis Fallacy

Hi fti, sorry to hear your news. I hope this does not weigh on you as your contribution far exceeds anything that these slugs who live off your hard work can do. Hope you can put this aside and get back to the trading task at hand. You have created ...

Technical Analysis Fallacy