TA Forex Trading

Well that's the 78.6 fib hit on the daily wave down retrace for Ucad.    Added here but wonder if I'm not going to be adding again at the 88.6 fib......

Closed out my most recent short on Acad for a little small gain to show for this weeks effort in waiting.   Still have the two other positions in place for any additional price breakdown from that pair by weeks end.

All you have to do on most pairs is pop it once at the 71.6 and wait, Qui. Whether it hits the 78.6 or the 88.6 is irrelevant. Its not about catching tops and bottoms. Its about prepping for where its headed long term regardless of any minor movements in the short term. Only go back and add once the pattern starts moving in your favor and it becomes obvious the market is finished. Thats almost always signaled by a large candle that totally engulfs the previous 2 candles in the opposite direction. The basic idea is this...somebody else can worry about the top 20% and the bottom 20% of the whole move. I'm after the 60% in the middle.

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Take it for what its worth...the charts are lining up all over the place for a massive market shock.

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Still have a small underwater nzd/usd short-but yesterday put on another and took 70 sweet pips today 

Audcad looking decent for a long here

Bailed on that idea

Congrats Jav! Nicely done. Once you start evaluating the weekly, trading is much easier. Just figure out where the weekly is and use the smaller time frames to trade in the same direction.

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Thanks Pennies you are a great teacher

Seconded.


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Took 60 pips profit on an ACAD flipper position. Still holding my longer term primary trade.