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As an after thought... The Eurozone debt crisis HAS NOT evaporated into thin air... Market seems very quiet, ECB rate announcement in a couple of hours, the calm before the storm? (although consensus indicates no change).

Inverse H&S or ABC? Reversal on EURUSD or bear rally correction??? It's still just shy of the longer term down sloping trend line by my reckoning (I'll remain long term bearish on the pair until a confirmed break), also past couple of days' ranges have narrowed. If I was going to stick my...

I reckon it's like Mr Miyagi in Karate Kid, "wax on, wax off, wax on, wax off." If you study price action long enough then eventually you learn to read it, and can predict LIKELY reversals, continuations, etc. etc. The question is, how long does it take? The answer will be different for...

Actually that's not necessarily true, if you use fib extensions, retractions, pivot levels and previous swing levels to pick your exits, then it's amazing how often you can be accurate to within a few points, (just bracing myself for the backlash from that little statement :p) Anyways, well...

Fair play TE you make some good points. My two cents... inappropriate exit behaviour should be checked and corrected by your P/L level, i.e. if you're losing money then you need to be flexible in mind enough to stop and examine what it is exactly that you're doing wrong and correct it...

I must say, I've just ordered a copy of Beat The Forex Dealer, no harm in trying to understanding how they operate... Anyone know what the Frankfurt session times are during DST months?

I read somewhere 1.2500 to 2520 was going to be a key level.

Ha ha, what a conversation killer! LOL

You're dead right Dackster, rather than discussing methods and systems perhaps we'd be better off discussing how to better cultivate this essential skill.

I guess in trading patience really is a virtue... ...Cheers.

In my experience it's very difficult to hang in through a pull back if you're looking at a nice chunk of bankable profit... ...the old psychological gremlins at work, I really must find a way round it as I seem to be consistently coming out too early. you're dead right about assumptions...

Hmm, I agree to an extent and yet disagree. I base the majority of my entry on price action, usually trend pull backs. I just use the indicators as extra safeguards. Maybe you could call my way a hybrid system? My main bug bear is having the bl**dy patience and discipline to wait for my set...

Ha ha, I have a way of making things sound overcomplicated. I'm not entirely sure that there is a perfect exit strategy.

If you want my two cents worth... I scale out, first 50% of the position at 1:1 the next 25% at a minimum of 1:2, if the next obvious reaction level is further then all the better and the last 25% open with your preferred method of trailing. The first 50% is critical as it's more about...

Yeah I understand. It's a bit of additional confirmation to merely reading PA, it increases probability, but if you're only prepared to think in black & white extremes then let's just agree to disagree. I can't see any benefit in persuading you to my way of thinking. The bottom line is...

Maybe being a self fulfilling prophecy is sufficient to provide an edge. MAs are possibly the most commonly used indicators by technical traders. I prefer to think of them as dynamic support and resistance, I also use angles (specifically of the 50 period simple) to define the existence of a...

TE, how can a wiggly line predict a price level?? An indicator indicates it doesn't tell. I would never take a trigger off of an indicator on it's own, but I do use them to tell me what is happening in the underlying price structure. They have many pitfalls, eg. a momentum study will...

Hmm, I don't think that your analogy is very apt, in trading it's the cute looking fluffy toy bear that has the potential to take your head off if you allow it. I think discipline is something that is a learned behaviour, as with so much in trading the social conditioning you receive...

My guess is that the boxes represent range, notice how they expand and contract again. TE will throw a hissy fit at this, but that is a repeating cycle that is prevalent in price action. Notice also the two horizontals and how price breaks through support, pulls back in and then later breaks...