Search results

closed trade because market took support on the small down trend line.....a very nicely executed bear trap...am wondering if now the bull trap will be sprung.....not going long........ this has served as a nice wake up call it is stupidity to assume an upward sloping line....is a resistance...

added 2 lots modified stop to above channel because i saw a small down trend line that shows counter trend traders are active

i do not mind a loss in the morning first trade,i almost wish it. it keeps you honest and reminds you that the markets are not a place to watch the scenery and joy walk

added 2 more lots...silly of me did not check the structure that was suggesting a test of the high:the 2 bar down move hit the support and the high was a small range/channel;and traders will see that as a pullback to buy and so may turn out to be a bull trap after a bear trap so all of this...

short eurusd

expect today to be the last active day before NFP. why? because most of the NFP positions are taken not later than Wednesday:if you take big positions on Thursday or Friday you could be accused of front running. so most of the front running is done earlier than that.

unfortunately morning i have to walk my dog.....plan to outsource that but it costs a great deal of money.....now i hope i will be able to afford that shortly than morning trades may be taken... morning trades most of the time are a little slow so i am not too bothered. i think mornings are...

THE ELEPHANT IN THE ROOM is the NFP.....must keep that in mind....

what i described is just one way to label the market....it is not right and the others are not wrong....but i found it to be the simplest....

all you need to know in trading is counter trend strength.....not the bull shit that is spread over thousands of pages...that you have to pay for you see the same thing here on the chart below: sellers not making any headway new day same old stuff

no follow through from the sellers...a lot of the bottoms were close together again showing counter trend strength....if you put a indicator it will show up as a loss of momentum and positive divergence the lot of the bars were overlapping showing counter trend strength.....this also flattens...

closed trade...as usual took screen shot before closing trade

do not agree about research intensive...I trade it using technicals it follows technical but may be not classical technical.....that does not work anymore obviously because there are too many people in the know and so no edge

it follows technical but may be not classical technical.....that does not work anymore obviously because there are too many people in the know and so no edge

have you tried using your eyes and your brain if you think nothing works see my journal

there is nothing random about it if it was really random then no one would lose money in the long run.....and yet that is precisely what happens.

it is the only activity which the cost of entry is almost nil but the potential of making money is so high, nay, huge

not if you stay in the present...:D:D:D:D:D

that is good point....not understood by most

I thought I had seen everything….what on earth are range bars