Compare & Contrast with Christopher Lewis

expiated said:
I like this plan...
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Is NZDCAD setting up for a "touch-and-go?"

ScreenHunter_8725 Sep. 26 19.24.jpg
 
I will have to keep a close eye on GBPUSD given that, as of the close on Friday, the 240-, 40-, and 20-minute trend lines were all still bullish. The same is true of NZDJPY.
 
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Forex Reversal Trading vs Trend Trading

Though I totally agree with VP about using baselines, I totally disagree with him about trading tops and bottoms.

Actually, from my point of view, in this video, what he is talking about is trying to guess where tops and bottoms are going to occur. He is not talking about identifying where tops and bottoms have actually formed. Well, I object to that type of practice as well given that my philosophy is to never try to predict what the market might do in the future. But rather, interpret what it is doing right now!

Moreover, VP warns that stochastics, RSI, Bollinger bands and CCI suck as reversal tools. Well, if this is how he envisions recognizing tops and bottoms, no wonder he thinks it cannot be done. I wouldn't dream of using such indicators. If I want to recognize a top or bottom, the way I do it is to use support and resistance levels—especially those based on typical price ranges—along with strategically selected baseline reversals.

Trying to do what Patrick describes below sounds just plain crazy to my ears.

 
I noticed the same thing. But I expect to enter a short position in the next five days or less as soon as I get a reversal in the zero-lag moving average on my daily chart.

 
expiated said:
I noticed the same thing. But I expect to enter a short position in the next five days or less as soon as I get a reversal in the zero-lag moving average on my daily chart.
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I guess Cristian's trade didn't trigger, but mine did. I entered a short position somewhere around 0.6876.
 
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