wasp

I knew that level I used yesterday would scupper me and it did! If I had not included it the long would still be in place from 204.40 but I used it, it gave a short setup which was just a retest of the 204.40 and up it continues.... Anyhow, thankfully wasn't about to get affected by it so as per earlier post I am back in from 206.40 looking for 208.10 > 209.30 > 213.50...

Agree with FW there. T2W/Paul is only interested in revenue and at least here, the owner actually trades! T2W don't care if people leave because the membership ticks over, thus so does the sponsorship and Paul is happy. Most were invited over by Firewalker and I. Some have had a look on their own then dissapeared again. The main group were invited over yes. They were chosen for their skills and the fact they post live and enjoy the discussion of the markets, their trades, and their faults and weaknesses so they could bounce ideas of each other and learn or help each other. (hint, hint FX boys!) Either that or because they work in a bank and it looks good! :o

A quick trip to T2W see's the heard eyeing a pin bar and H&S on dantes new thread gives me extra confidence in the long :rofl:

I think thats the same with fibs too. Both 00's and fibs are coincidential too the key areas of S/R but S/R always comes first imo.

You shouldn't let the missus wear the trousers :haha:

Long 206.40 Stop 205.90 I do not like this area with that dodgy level but taking it anyhow as bigger picture says long.

Thread on its way...

IMO, that trendline in red is dead and should have been stopped when price crossed it and ignored from then on, a new trendline drawn (as was in black). Any touches thereafter as fw says, purely coincidential. It is no longer valid nor useful.

Also GJ, Trendie, I mean myrtle asked how much attention I paid to 00 levels as key levels and before I didn't really till now and notice how they are close to my levels. Anyhow, spill some insights on how you bank boys play it..........!!

well, well, that doesn't happen very often! It actually bounced of the support and I don't feel so bad now. That said, it throws up the key level issues still which is like snapping my fishing rod! (analogies again)! Thanks GammaJammer! Oh and btw GJ, which bank are you at again...?!

Yep, the market should tell you when to get out and in and whilst certain levels may be good to scale out, never limit yourself with ideals, let the market tell you when to exit. IMO.

I blame GammaJammer and his mates down the bank myself. Makes me feel better!

It is just so frustating ay! 1 little thing can mean the difference between a few grand.

How much do you factor it in. Thankfully as I got called away from the screen yesterday, I took profit at the highs but, I would rather know I can fish than to catch one occasionally and the fact that had I stayed, one key level which I did not include as it was more of a burden in the past, meant I would have given back all yesterdays, missed todays drop and alot more if it breaks the current level. Like Firewalkers call but non traded short yesterday, it doesn't matter how perfect a plan can be and obvious things are, sods law has such a cunning little way! Now I'm back I can re-enter into this short if it breaks (albeit now 200 pips late and the R:R is off the wall) but its 200 to the next key area, or not. Obviously, the opposite to what I do will happen! All down to one line that would have caused me 5 losses prior meant I missed a possible 400 now! I'm going down the pub, sod this. :doh:

...and a bloody god job too! I knew that 206.25 was going to be a thorn in my side and could not decide if it would screw me again or hold. It held. I was one step ahead. Up yours GBPJPY! :evil tongue:

Arghh, something has come up and going to have to take a couple of days away. 'Wage' account closed out for +221 My other account closed out for another +210 so with the +1 and +250 already, equalling +461. Have a good week all.

I'll manage your execution for you! :rofl:

If only it were that simple Myrtle! I think I look at what thesuccesfultraders do who sit next to GJ down the bank and he tries to copy :rofl: attached is a chart with my levels (thick) and zero's (thin). They are close but my way still gave a better rate of success imo.

Where's firewalker?

Well, whilst I wanted my star, it doesn't take 10 posts to take things off topic. All I tried to do was start a thread where experienced traders could post their opinions on which is the best teacher and its gone off course already! Shit forum! I just wanted a star! Last time I go there!

Not best pleased with this area and it stalling here. Whilst it is important, it statistically gave 4 false signals prior and whilst this time may be correct, I'd really like it to break it and continue up. Incidentally, if it does hold, it could proceed to become an H&S formation on the 4hr.

My last thread on T2W done. I will have a gold star damnit!

Closed for +250 Order in to buy @ 204.75 with 100 (:shocked:) pip stop. EDIT: btw - I do not expect, if my order gets filled, to get stopped for even close to -100, its just a safety net so I can sleep peacefully. 240min candle alarms and alerts at points on the way down set just in case so I can act in case of the inevitable!

I think thats what makes a big difference. I work with what works statistically best and fit myself around the market in question and as I have never read a trading book in my life, I probably couldn't give you a text book definition. I se why you have drawn the lines and entry and exits you have and they do differ greatly from mine. Its all about perception really and how you, or wycoff (sic.), or anyone else percieve charts.

On the first chart (showing trendline vs S/R) they are all daily S/R. On the next one, the back chart (daily) is daily S/R and the smaller (front) chart are 1 hour S/R.