trend trading is alive and kicking ,take a look at todays trade on GBPJPY netting over 100 pips profit.
Chart 1 - a nice trend develops on the 15min chart
Chart 2 - 60m trend is down therefore the trend on the 15 min chart may be a correction against the current downtrend.
knowing this information makes trading a damn site easier.
Also a cracking trend trade on cable too ,taking out the days whole range, with support and resistance.
I took a short at 210.36, the previous support on M15. Seems good... Target 209.30
bubble --- there are few on this site or others that do not know i speak with my tongue firmly planted in my cheek
While you missed a lot of profit with a very late entry the rest of it is purely in fun --- its WHO I am and how I speak to most everyone --- think of me as an old dutch uncle, who insults on one hand and teaches on the other !
I really dont care for your attitude , you could be a monkeys uncle for all i care,where i come from your attitude wont get you very far.
You assume a lot , assumption is a dangerous game , for your information from the low of the swing to the peak i took over 250 pips ,if you check your charts you will see the uptrend on the lower swing on the 15 min chart.
My last post stands, print an apology.
I dont know who the hell you think you are but i do not take too kindly to these kind of comments in your post , i suggest you amend your post and make an apology or i will make a strong protest to admin to have you banned.
Good thread. Don't take MP the wrong way. His posts are fantastic and his contributions are worth the read.
PRECISELY CORRECT ! -- watch support areas at 209.57 and the bols support at 209.51 in the shorter term, but your bottom figure will be hit, either on the next go around of the 15 min, or if they get gobs of momentum going before the 5 rollover.
208.80 should be pretty easy on the H4 timeframe
as humbly as i may state it, you claimed you had a 100 pip trade on your original post, and thats what i commented on !
but if somehow I have annoyed you in any way, I certainly apologize for any insults you find directed towards you, even though the beginnings of the trade were as clear as a fart from a budwieser horse in a small room !
enjoy and trade well
This isnt about where the trade did or didnt begin, you are entitled to your opinion the same as i or anyone else is , its how we put that opinion across to others that counts and makes people sit up and take notice for good or bad.
As strange as your apology is ,it is accepted.
You are right about the target, I already spiltted it in two: 209.30 (ASK price) because there is some support at 209.22 and 208.90 (ASK)
Done ! The support at 209.22 was not so strong.
Wicked Monthly Support Resistance Indicator
Hello all, I'm hoping someone can help me either find a .mq4 version of this indicator or possibly even re-code it. I am not exactly sure how the support & resistance levels are calculated other than that they are based on the monthly open price, and the levels work well as buy/sell points or take profit points. I find these levels much more useful in my trading than regular pivots, but unfortunately the indicator is no longer working for GBPUSD which is one of my favorite pairs to trade. It has never worked on EURJPY, which I also enjoy trading. Any assistance on finding the .mq4 version of this indicator is greatly appreciated. If anyone can figure out the calculations by looking at the .exe version on a chart, it could probably be recoded by one of the many fine coders here as well. Thanks and hope some others find this indicator useful in their trading.
Just send you a PM. Hope you find the creator.