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Coming up next in less than 2 hours, the very important Reserve Bank of Australia Statement on monetary policy, at 9:30 PM New York time. In other words, rock and roll time! Hope to make a killing this time, or I will start punching kangaroos!! :D

For that type of formation, the target is usually equal to the length of the channel before the breakout, then you simply add that number to the lowest low observed inside that channel and you get the target. So in this particular case, the maximum profit target has already been reached...

Well, on the 4 hour charts, it seems like the NZD/JPY is testing the breakout line, take a look...

Good video, thanks for the link. :)

Clear to the majority of traders. Remember what legendary trader Bernard Baruch said: "The main purpose of the market is to make fools of as many men as possible"

You can make 100% return in less than a minute in the Forex market, after an important financial report (NFP, FOMC, etc...). The problem/question is, can you do it consistently and without huge drawdowns, month after month, year after year?

To the best of my best knowledge, there is no candlestick formation that can predict a good target price with a 90% success rate. However, it is possible to use Fibonacci extensions or AB = CD waves to find the most likely target price. Support and resistance levels also work great.

Careful though, when the market is too "obvious" and "clear", it usually goes the other way! :D

20%, that's more than twice the average yearly return of the S&P 500. Fact: most hedge funds cannot even beat the S&P 500. It's still doable but you will need some leverage and a winning trading system.

I don't see it that way. It's more like an extremely valuable 10K trading lesson about the importance of money management, for OP and for ET members.

Technically it is possible to do that in 2 minutes. Bet $900 on number 13 at the roulette in Vegas. If you win you now have $31,500 in front of you. Bet the whole thing on 1 to 12 (first dozen) and if you win again bingo, you have a total of $94,500 in hard cold cash looking at you. Not...

:D

Candlesticks techniques must no be used in isolation, try to combine them with Western techniques. Let's say you bought a stock. If at the next resistance level shooting stars or bearish engulfing patterns start to appear, then maybe it's time to pocket some profits, if you also have a clear...

No problem at all dear Tonkadad! Oh boy, if only some ET members were as civilized and courteous as yourself... :)

On the daily charts (your favorite time frame) the EUR/USD has completed a triple-top . Notice the extremely bearish engulfing pattern (see chart below)! So the Euro is probably going to move lower in the next few days...

EUR/USD has been closed at 1.3925 (10 pip loss) EUR/NZD has been closed at 1.6089 (20 pip profit) Total for today: minus 30 pips. Total since beginning: minus 113 pips. The take profit seems small (for now) because when the system is experiencing a string of losses, its first goal is to...

Outstanding, a 22-old year man who wants to live debt-free and refuses to live on credit! Young man, you are off to a good start, most people your age are doing the exact opposite, here in the US and around the globe, without realizing that debt = slavery...

I will. Closing USD/CAD at 1.0890 (10 pip loss) and buying EUR/NZD at 1.6069, 35 pip stop. So far this day : minus 40 pips (-50 + 20 - 10) Open positions : EUR/USD and EUR/NZD

Thanks, same to you. By the way, watch this, the AUD/USD is going to touch 0.9350 (about 20 pips below current price) and THEN it will resume its uptrend. I will be waiting...:cool:

Short EUR/USD at 1.3915, 30 pip stop. Pending short order on GBP/USD has been cancelled.