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Yes, seems like you use GMT time without summer adjustment and I use summer London time... Mine are respected well too though, LOL.

If current smaller channel gives a bounce off high though, we can easily get a flag, giving a continuation down clue...

A ha, that one smaller box... Yeah, just didn't count it significant cause of close strong support... Also have found that your pivots today are different from mine... :confused: Seems like your Prorealtime counts them differently from my Prorealtime...

Hmm... price looking like bottoming on 15min...

Yeah seeing it now on 1min... Looking like a long-legged doji to me (if speak in candlestick terminology)....

Also we're in a something somewhat similar to a box now (consolidation after the USD rally against the Euro), but on a big (1h) timeframe...

Seeing we are in a down 1h channel formed on Friday...

It's me practicing in talking in positive terms. :D

Absolutely beautiful action during the Asian session today... I definetely need to sleep less... :p P. S. Hello everyone, new week is beginning, let's get some nice pieces of that pie. :D

slapshot: certainly there is no "wrong" way to trade (assuming of course that we compare overall profitable trading approaches :p ). As for me, I simply adopted what I have read about the best outright traders in history (Livermore comes to mind first) and what I was taught by the most...

Not me definetely. :D if there is a print beyond the stop point, it doesn't matter was it in hindsight or realtime. It was a valid point to get out. BTW, thats the beauty of it - absolute objectivity. So if it goes just 1-2 ticks beyond my predefined point of failure, I'm automatically...

OldTrader: it was me who tried to explain that hedging etc. does nothing more, but generate more commissions. And I totally agree with your points. To me making like 100+ trades a day and this way making less money than you've paid in commissions also seems a bit illogical. 2% a day is...

The concept hasn't become more complex since my last post! :D Of course system doesn't "know" when there is a loss or a profit, but simply the case when you have signals to go flat or reverse the directional trade, actually IS a stop-loss when this trade happens to show a paper loss. It's OK...

Here is an example of reversal (yesterday's best trade) as I promised. Hope it helps. Though Yoohoo is right, there are very many reversal formations. Some book on candlestick would not hurt. I have read Steve Nison and some other books on candles and found them pretty useful. Myself...

Tomorrow I'll provide some examples of bar reversals in confluence with another reasons to trade (channels etc).

Working on it... :D Though honestly it's the case when "eyes are scared of what hands are doing"... Such results in such a liquid market as FX still feel like a fantasy becoming reality... :)

Was excited because of the short and missed just another great short off PP...

And now I see how tick chart is especially useful in such a fast market when even 1min bars become too high and of bad r/r... Yoohoo, your contributions are simply invaluable! Seriously!

Of course, glad if can be helpful: yoohoo have posted an example of bar reversal pattern yesterday and that's how most of them look like. You can also study some basics of bar/candlestick charting for reversal patterns. Those can be very useful around S/R areas. ITM is a term I adopted...

Woohooo, shorted the reversal on 1min on the top of channel after the news and caught a wave down to channel bottom... 8% total profit. :p