PipOmatic

I have been posting some charts on the forum showing what trades I will be looking at for the coming week. Here’s the forum link http://www.pipomatic.com/forum/forex/no-pain-support-resistance-trading/page-1/ Feel free to share your comments.

EURUSD, GBPUSD, USDCAD, EURCHF, EURJPY, EURCAD, AUDUSD, EURGBP

Based on a new strategy being worked on by David and me, I have identified this nice looking S/R trade.

A nice, easy example.

Note, this strategy is based on a strategy traded by Steve at http://www.nobrainertrades.com/ I strongly recommend Steve’s strategy and blog. Excellent stuff !!

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It’s been a little while since i posted to the blog, but fingers crossed I will put that right soon. I have been busy with new trading adventures and now my plans are in place I can get back to logging my trading thoughts, identifying good trade setup’s and showing my results. I will be using the blog for quick posts and referring to the forum section where i will post more detailed trade setup’s and results as well as having general conversations about anything and everything trade related.

Monday started out real good for the European Stocks, but when the US markets opened up (up nicely too) they quickly sold off. I think there are lots of people looking to time THE BOTTOM, but as most people know (and tend to ignore) even if everything looks very very over sold, it can go even deeper into the quagmire. The Financial’s and Oil are still holding center stage with their gloomy outlooks and any effort to rally in stocks just keeps getting beaten down !!

BUT… if anyone still wants to trade, there are still some good trends to hop onto. Just remember to use stops and may be invest smaller $$$ than normal. Better safe than sorry !!

Quick update on Potash(POT) … going good so far. I expect a little pull back some time soon but everything is positive for now. When price gets near the recent high I want to see volume come in to push price higher.