Last week I went over the importance of Support & Resistance and Looking Left before trading the Hard Right Edge. This week I want to build on that and ask the question: What is Support & What is Resistance? Horizontal Support & Resistance occur because of Order Flow. People (and institutions on their or a [...]
Read MoreJanuary 2011
One of the most basic things a trader needs to learn inside out, is how to determine and then use horizontal Support & Resistance to plan and execute their trades. When we want to cross a road safely we look to our left and right and the order we do that depends on what side [...]
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Could this be the trade of the year. Well, do you have the patience! When the USD bulls take charge this is going to rock. All the wolfe wave co-ordinates are in place. Point 5 hasn’t quite formed. Or has it? First, there is a possibility it might swing as low as 78.5 (fib 161.8 [...]
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One that got away! For some time I was following this bullish Gartley pattern on Daily GBP/JPY pair – hoping to go long at reversal around price reversal zone around D. Not everything works as planned! And this is actually classified as a failed pattern. They do happen because the markets are unpredictable. Plus the [...]
Read MoreSo Christmas is over and the New Year has started and you’ve made your New Year’s Resolution: ‘I’m going to learn how to trade Forex!’ Then what? If, like many others, you are psyched up and raring to go but don’t know where and how to make that resolution become a reality, then stick with [...]
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Hi Folks, Happy New Year. This is almost a picture perfect bearish Gartley. The B point formed at fib 61.8%. More important D formed at fib 78.6% of XA leg. This would indicate potential zone of reveral. It did so – almost immediately for the next few trading days. Thereafter AUD started to strengthen – [...]
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