Posts by "daveo"

I agree all markets are one market, they are all inter connected & correlated. I suspect Ashraf comes as close as we can to what you seek. Fundamentals aside, each market can be very successfully traded using only technicals but like evrything else the necessary skills are required. Combine the two approaches and you are far more likely to develop a consistenly winning methodology employing expert trade management. Quite frankly it would take me years to be able to trade fundamentals alone, quicker and easier to follow Ashraf and integrate his work with my own. This year I have learnt a lot about correlations which now play a part in my technical trading.

gbpusd broke the 60 min trend resistance line and reversed from my symmetry target posted below at 1.6167. Nice tradeable reaction for intra day 70 pip move down to test the resistance trend line now become potential support.

Catnip, of course its possible, anything is possible with trading. I daresay your own stuff catches you wrong footed sometimes but I like that you are trading using what I call "internals". Most conventional indicators simply lag price and only reflect what price has already done. Any experienced chartist can read price without having to look at indicators but indicators provide a clearer perspective of what price has done for those who are not yet fully tuned in. S & R's play sometimes and sometimes not and there are many ways of projecting them besides channels etc.

I use internals for trading stock indices. Breadth, volume, vix, trin, tick, market profile and bid/ask delta can provide valuable information but forex is more difficult since there is no central exchange for volume data. Correlations are important and can sometimes provide a leading indicator I have noticed. I shan't mention EWA which can be a leading map because it is so contraversial in this particular forum and not easily discussed in a static forum. Market profile also provides a useful map based upon volume over time behaviour.

There are many perfectly legitimate and different ways of trading. You should be more respectful in this context. I am not about to divert into your specific methods and I don't expect you to divert into my methods. The only thing that really matters is we each make good money from our methods and the time we devoted to this endeavour.

Agree Gunjack. Wouldn't be human without some bummers :-) Ashraf way ahead of most commentators not to mention the carnival barkers :-)

gbpusd now testing trend line resistance on 60 min chart which coincides with the 50% ret level of the move down from 6298 high at 6125. A break will meet potential symmetry resistance at 1.6177 just above the 61.8% ret at 6166