It's all about Risk VS Reward — Anytime you are looking at an entry you want to measure that risk against recent highs and lows on the Time Frame you are trading. The turning point in profitablity for traders comes when they more closely ...

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August really is a crazy month — For those of you who have not seen the movie, 1984 url Garcia, please don't think for a minute that you are not welcome here. There is no "inner circle". I have no doubt that some people will become more ...

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A Gold Star — Well done. People ask all the time how long are prices good for. To this we say recent past and distant past. People ask what constitutes a good S/R line and we say a line that has been hit from both sides. If any of you are ...

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No Problem — All a fade means is that when a price move has exhaused itself then it "fades" away. So to fade a move up I sell and to fade a move down I buy. So if the price runs extremely high on Friday I would fade on Sunday by selling at the ...

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IF it has that much upside then maybe so — There are reports of a large pool of buyers at 1.4700. So I would be inclined to fade a rally from there. Possibly 1.4760-76 area. But Friday markets can be nuts and sometimes the best move is to fade ...

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Sorry if I missed your point, C note — I was a little more concerned what someone new to trading might takeaway from the statement. I hate to see someone waste their time with "spahgetti trading" when there is a much easier way. But back to my ...

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I'm watching that level too — Evidently there were stops and sells below 1.4780 I have been treading lightly this week since I am now flat on all GBP and Euro sells. More downside potential (especially since I cashed out!) but I am watching ...

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It's not a bad rule to live by — The reason that rule came to be was to protect equity but still give you a chance at a break out trade. The best of both worlds so to speak. I took a counter trend trade on USDCAD at 1.0710 the other day and ...

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Nothing is guaranteed. — My phillosophy in trading matches my phillosophy in life. I have two plans available to me at all times. One plan for when things go right and one plan for when things go wrong. No system is perfect, including S/R ...

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Very good questions — Let me see if I can get everything covered here. I believe you are asking about fibs first of all and the answer is yes I draw them on the higher Time Frames, daily and 4hour and it is opposite the current trend in the TF ...

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SO glad you asked — Because I do it!

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Indicators are the Devil!!! — When I read your post I was suddenly taken back to 1995 where I heard the pleadings of one Reginald Denny and Rodney King, "Can't we all just get along?" Words to live by for sure. I have picked on a few people ...

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Ancient Chinese Secret — If you trade with CitiProFX then you can get their research in PDF form, fresh in your inbox everyday. Or you can go golfing with one of their financial advisors and he can forward it from his inbox. Either way is ...

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You may be right — I gave up trying to predict long-term targets for currencies a long time ago. But having insight into the general direction certainly can be useful. Alot of back and forth out there now but it will settle down soon. After ...

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The Option? — It's a "One touch" option for 1.6900 on the Euro which expires Oct of this year. The 4th I think. Now as we know, US options can be "exercised" at any time. But what it says to me is that is where they expect price to go. Will it ...

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The times, they are a changin — As I approached this week I began to look for dollar weekness. There seems to be tops and bottoms across the majors with only a few violent stabs lower. Could it go lower? sure. SO take half off the table, in ...

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Beware the thin market — That just means there is less volume. Less buyers and sellers. Which means more volatility in price moves. If the GBPUSD is trading at 1.9000 and there are buyers so it ticks up to 1.9001, if there are no sellers then ...

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Of Course — Imagine you have a tool box and you want to fix a leak under the sink. You would search for the right tool for the job right? Different approaches for different markets are like tools in a tool box. When the market is ranging you ...

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Ahhh Just like the old days — Hard to believe this thread has only been running since May. Great Post Billy Ray

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Not bad — YEp that's the reader's digest version of using S/R with the trend. The 23 fib isn't so much a factor. 50, 61.8 and 76.4 are where the money is. Keep up the good work.

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