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Showing most liked content since 11/19/18 in all areas

  1. 1 point
    mitsubishi

    Knowing the Direction of the Market

    NO ..............................................................
  2. 1 point
    Hi Folks, I thought it would be interesting if we had a thread where we could all post charts of potential price moves in real time. These do not have to be actual trades you are taking. The purpose would be for us to learn from one another how to recognize these opportunities in real time. Therefore, when you post a chart, be sure to clearly state the direction in which you anticipate price to move, and the reason you are interpreting price action in that manner. This is not a thread for secrets, show-offs, or salespeople selling systems. I'll start off with the GBPUSD here soon after the markets have reopened for trading this Sunday evening. Looks like a potential short trade if there is a break of 1.6421 (For the record, I am not trading this). The first red arrow would have been a nice short entry as the Cable put in a 1-2-3 top per Trader Vic (easy to see after the fact). The second red arrow swas a second chance short entry on the retest of the break of the "2" point on that 1-2-3 top (also easy to see in hindsight). The third red arrow is the current market as price is trying to find support. If that support does not hold, a test of 1.6389 - 1.6406 would be next. I have some family time now, so I'll check in later and update the chart. Best Wishes, Thales
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