As far as the EURO and the Pound are concerned, I believe we are poised for an upward movement - sooner than later. Long's should be favored and flavored. So, I hope you chaps are enjoying your breakfast, and I hope most of you don't puke it out
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Indeed my dear trendie, indeed. The market took about 24 hrs from my initial post to get there, but I believe it is there now. The market pretty much went nowhere for the past 24hrs, except for a minimal move to the downside where the bear took its final breath.
I observed you guys do a lot of trading during that period, when In my opinion there was only 1 good trade with a clear cut signal and high probability. That trade was a small move to the down side. Yes, you could have still made money on little trades here and there, but I saw only 1 good one. When you rely on trading as a way of life and when you value it as being your primary and most important source of revenue - you tend to view things very differently I guess
There is some retracing going on at the moment, but we still have a little bit more to go. After the retracement however; things could get bearish, it is in the cards. The best thing to do at the current moment is to hold your longs. IMO.
Nice post compounding... All it takes is a little 'IMO attitude' and everyones happy
Heres my take on the current state of play... if this holds for a while longer I think we will be bearish for a while...
. Just curious....
Just observed your chart wasp, nice. Do you use any other TA? Although your chart was good to look at it made me cringe a little. Do you use any other methods to analyze price behavior? There are some superior methods out there, but if it works well for you then I'm glad for you
.Thanks for the reply. It is good to hear that you do indeed use other methods. The most important tool in TA IMO is the divergence. A lot of traders who use TA miss that importance unfortunately. Price does have structure as one successuful trader pointed out to me so long ago, it was all a matter of seeing it and then exploiting it. One of the most important, if not the most important TA indicator is Momentum. This is from experience. I realized that the mathematical structures of all the other TA indicators weren't as valid to price behavior as the Momentum indicator. It is the cornerstone of all my analysis, and with an array of other TA indicators that complement Momentum, it makes the "job" of figuring out where price will go next that much easier. I ask forgiveness if I have strayed away from the theme of things a litte
Thanks for your analysis..... you hit this one out of the park ...... cable, euro$Thanks for the reply. It is good to hear that you do indeed use other methods. The most important tool in TA IMO is the divergence. A lot of traders who use TA miss that importance unfortunately. Price does have structure as one successuful trader pointed out to me so long ago, it was all a matter of seeing it and then exploiting it. One of the most important, if not the most important TA indicator is Momentum. This is from experience. I realized that the mathematical structures of all the other TA indicators weren't as valid to price behavior as the Momentum indicator. It is the cornerstone of all my analysis, and with an array of other TA indicators that complement Momentum, it makes the "job" of figuring out where price will go next that much easier. I ask forgiveness if I have strayed away from the theme of things a litte
