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the center line was a contructed by two major high and low pivots on a chart. My issue is in contructing these center lines.

I had read an article in an old Technical Analysis of Stocks and Commodities by ron jaenish and this is what got me interested. He did not use pitchforks in the article though, rather he drew action and reaction lines around this "center line" and determined on price action against the lines...

Anyone have any good resources on Action/Reaction lines, the concept started by Roger W. Babson? Anyone ever use them?

ahh ok makes sense....thanks

Thanks....another central bank question http://www.ft.com/cms/s/0/c480f2f4-7122-11de-877c-00144feabdc0.html They said in the article that China has increased their reserves to $2,000bn. What I am wondering is why does this put pressure on the USD as the article says? Is it because...

interesting article.... http://www.federalreserve.gov/monetarypolicy/bst_liquidityswaps.htm

why would it be a concern if they were building reserves? Possibly building up for a coming "storm"?

it does say there was a record amount sold, but on the other hand, could it mean there was a record amount BOUGHT, i.e. a record demand??

Have a question, after reading the following article should someone be bullish or bearish on the aussie dollar? What does this mean when they say they are "selling the australian dollar" on the open market. Just confused in general by central bank operations and what they are trying to...

I see something more like this....I like using the two highlighted red dots as a starting point for a new trend/channel that broke the original trend.

so now you are risking 50 to get a 10 pip profit?

Ivanovich, what time periods do you mostly trade off of?

lovely usd/jpy weekly down channel...

nice calls, was with you (bought in a little higher) on the usd/cad pair. Looked like it really would have made a run to 1.1800. Any idea what caused the reversal?

http://zerohedge.blogspot.com/2009/06/bank-of-england-gilt-buyback-issues.html Might be a possibility, also good old fashion support and resistance. 1.6200-1.6250 area has strong support this past week.

how about the reverse head and shoulders showing up? Haven't had much luck with them recently but just a heads up....

who are you using for a broker/charting? I thought oanda as I read through the journal but it doesn't look it now. Sorry to go off topic on the journal though, good trading.

so in the AM EUR/USD would be a good one obviously? or would that one not work as well since the US market isn't open yet....

I know this has probably been asked but just looking for some more input on usd/jpy or any other pair that might be good for after 5pm EST trading. I work 9-5 but have swing traded equities for a while but would like to trade forex on the side a little when I get home from work (not at work)...

possible entry around the 38.2 fib retracement from low of last year