EUR

EU did a three wave corrective down (ABC) from the 7th March 4035 high to the 11th March 3750 low which made exact symmetry where the length of Wave C = Length of Wave A at 3760 (within 10 pips). This posed high probability for reversal to new highs above 4035.

Since the low made the mkt did a very impulsive move up lacking structure which makes it difficult to read. It topped out at above the 78.6% ret of the previous move down at 4020. This event confirmed high probabilty for new highs.

The mkt then retraced back below the 50% level to almost 61.8% (3846). This is a typical ret level following the first move up. I now expect the 4020 high to be taken followed by the 4035 high to be tested and broken. From there we can make projections from the patterns formed along the way.

This is how I trade because it gives me the parameters to trade by using tight risk control. It has a predictive element which although not always right is good enough to allow me to profit consistently. It provides me with a map without which I should be a boat adrift in the fog with the GPS down.

Every trader has to have a method of their own, fully tried and tested. Mine is just one of many many methodologies we could choose.

All the trading rooms or forums I have ever been involved in become a little fraught when mkts start crashing all over the place. Guys lose their bearings, & get frustrated missing fantastic trains. I woke this morning to see much of my analyis rubbished across many charts. I have learnt to take a step back and a deep breath. None of us will get it right all of the time or trading would be too easy.

gamma...

ignore/ganja is one the good guys in this forum... i've known him for a long time and i definitely agree with daveo.... can't find anything too offensive from ganja or my communication skill in english is not good enough... :) seems more like a misunderstanding to me... let's pls. respect other traders and avoid using offensive languages against each other....

like i said.... we don't need another CAT in this forum... :)

gl/gt

Subway, good reads !

Gammahunter, you are way off course on your read for Ganja. For one he has always posted his trades at time of entry c/w SL and TP's. You really should research properly before making wild accusations. Foul mouthing this forum is completely negative and should be banned imo.