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At the moment, the momentum is in uptrend but it's touching a resistance level. It might cross it though temporary (but hope not since you have an open position just above it). I would set a limit short order below 1.07910 area.

But the whole objective of studying is to get a good job. So if he can generate enough income (or even more income than average income of his age group), then he doesn't have to stay in school or does he? Owen Glen is a New Zealand Billionaire who has not even studied at University and he has...

You might want to read the attached journal. The journal was written by my ex-professor. and there was a related article on CNBC. http://www.cnbc.com/2016/04/29/it-sounds-crazy-but-sell-in-may-and-go-away-is-good-advice.html

Thanks Handle for sharing your experience. Although I have no intention of quitting my academic positions at University, it really gives me good ideas of what sort of steps I should take in the future.

You're wrong about this. OP was the one who did not behave just because he did not agree/like some replies. He's the one who needs to grow up. But who cares, he will disappear in the near future from the derivative market anyway. He's no chance, especially with his childish attitude. Well...

Fib numbers are just cognitive reference numbers. It's a result of human bias. It might be better to build a system with integers like 1.0000 in USDCHF, 1.25000 in EURUSD, 1.50000 in GBPUSD, which often form resistance levels and prices often reverse once they cross these points but that rarely...

Don't worry English is my third language. My second language is market language by the way :)

Yes, I do. I use the high frequency traders arbitrage strategy ( or something similar) - which is also known as speculation - lucky to have it as my first PhD thesis topic.

I had not checked its intraday price movement. I've just checked and it looks like there is a high chance it could continue to fall but it could also bounce back to $118ish before it could fall substantially. So you made a right decision to cover your short. You can set a limit short again when...

I totally agree with you. I would set a limited buy order around $120

hahaha, Stock market is different to derivative market...when there is a gap, especially, upgap, according to price discovery literature, it signals good news it's because of the short selling constraint. When there is a good news, smart money shows aggressive trading whereas when there is a bad...

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No, in Forex, from Friday to Tuesday, price entered non-dominant trend and there were gaps on most major currencies on Monday. I've even pointed out this to one of threads under Forex. So if anyone was not aware of this, they would have lost money. Prior to election, many traders on ET shared...

Although I understand your point, I don't come here for education anymore and I don't need because I only improve my skills from my academic research with concrete evidence. One thing you're not aware of and there is one thing that you underestimate about this site. There is informed trading...

It's just going through correction, I will not short this one. The lowest level for the pullback to is not 115 anymore. It's gone up a little bit. It's now 117. One thing you're not aware of is that the longer term volatilises has been steadily increasing since the upgap on the daily chart.

This EURUSD ... is going through the correction. It's dominant trend last week was uptrend so the current correction (non-dominant trend) is down. Gold is likewise. Both non-dominant trend is carried over from Friday. Unlike EURUSD, USDJPY had a dominant (bear) trend last week and the upgap...

Never mind and sorry if you're close to J_Smith. Recently someone left a reply to this old thread and just remind me of days that I went through some dark days. Never never mind~ I just want to say hello to J_Smith, who I once thought a master of trading. By the way, I don't use FB much.

I think it's too early to expect a bullish engulfing candle after this bear trend. The upmove is most likely to be a pullback. In 15min, it probably shows something like a doji or bearish hammer

Fair enough. Expert = No ( expert uses Fib), Enthusiasts = YES (naive traders believe in it)

Fibonacci number is myth...any strategy based on static number will fail. Eliiot is just simply moving average 60.