GBP/USD....

GBPUSD still moving up today? I got a target of about 1.8440 .

lets see>>>>>>>>>>>>

everything looks bullish against the dollar though.

PIvot POINTS Are as follows
resistances PIVOT Supports
1.8558 1.8428 1.8351 1.8221 1.8144 1.8014 1.7937

moving down right now. Hopefully that's just a correction ?

XXlessoXX,

What is ATS ? Trying to figure out everything you got on the chart. Looks like bollinger bands and a couple moving averages?

Do you think it could possibly go all the way up to 1.8800 ?

Yeah its the retracement I was talking about. Euro is doing it too. A good time to buy is when the retracement ends and turns up.

How do you know when the retracement ends? Do you use fibonacci numbers? I keep buying on the intial impulse.

So I guess yesterday marked the end of downtrend on GBPUSD since it had been going down for a while.

My entries and exits are just downright horrible. I'm getting in at the middle. Notice the "V" shape on the GBPUSD (again). Happens just about every day in some shape or form. Well, I got in right in the middle. Ideally, I should be selling at the top and buying at the bottom but I can't seem to do that.

what did I tell ya.....huh.... wow

wish I had more on my trades today

wow, it's going up more. By the way, I like this setup so we can trade ideas on different pairs.

I got out once I hit my target. My patience is improving but I still have a ways to go. I really should have gotten 100 - 150 pips out of the move today on GBPUSD since that is the pair I've been trading but I only got 50 pips out of it. It's partly because of my entry. I just enter. I don't plan the entry whatsoever. And once I am in + side by 15 pips, I put stop loss at entry level so I often get stopped out without maximizing my profit which is also what happened. I had to get back in at around 1.8400 because I got stopped out at about 1.8377. I think how I'm using stoplosses are hurting me. I fixed the whole 30 pip initial stoploss. I put it at 100 today and it definitely helped me. I have trouble having confidence in my decision but with application of elliot wave theory, I'm having more faith.

I think the move in the past two days wasn't completely because of news. Do you? Elliot wave said it should have gone up anyway.

Morpheus, sorry i didnt have time to get back to you sooner I just didnt have time to answer all of your questions yesterday.....

First I think you are on the right track for your stoplosses but just any old number wont do. When I set a s/l It could range between 5 pips all the way to 50 or more. I use resistance and support levels coupled with fibs and pivot points. I look to see where I think the trade is going and where the price has to be in order for me to be wrong, my stop is usually 6-26 pips beyond that range, depends on volatility. Its usually a bad idea to enter into a trade when the trend is already going, because you have no I dea where it will run out at. It took me a while to figure this out, I kept logging on to my demo account and when I saw a trend in place, I would buy or sell in the direction and lose instantly. So, now in my real money account I wait for trades to set up before I trade. I am successful so far, 4 months of actual money starting with mini lots on an account of 1200 and now I am up to full lots on an account of around 10000. I lost at first but after I found what worked for me, I stick to it RELIGIOUSLY!!!!!

For entries into a trending market I look at a raff regression model, coupled with macd and sto's on a 5 min chart or 1 min chart. Works most of the time. For trading markets when you see a good channel formed I use two trend lines on the support and resistance coupled with slo stochs on a 30 min chart or an hour chart. I use the one minute chart for entries only. I still use a demo account to try out new systems but that takes a lot of time and success in different types of market conditions to convince me of a system's merit. But I am certain if you take your emotions out of your decisions to enter or exit you will be happy with your results.

LOL.... these charts that I post are not the ones I trade from but they wiil have to do because I am an internet IDIOT

I dont know how to post charts that are from my platform so I have to use these, but they are from fx-charts.com click on the fx trend charts button to find them. they also explain what all those crazy lines are, I dont use them, but the ATS actually seems like a good indicator, this what they say:

FOREX TREND CHARTS & OVERVIEW


(Updated every 5 Mins From Sunday 7pm EST. through to Friday 3pm EST. )
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EUR/USD 30 Min & 15 Min Charts GBP/USD 30 Min & 15 Min Charts
USD/CHF 30 Min & 15 Min Charts USD/JPY 30 Min & 15 Min Charts
a
Trend Signal Overview
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ATS Level - Light Green line TRG Level - Light Blue Line
MTL Level - Purple Line Bollinger Bands - Red Envelope Bands
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General Rules

1) While rates are below both the ATS and TRG levels the trend is considered Bearish.

2) While rates are above both the ATS and TRG levels the trend is considered Bullish.

3) Rates trading in between the ATS and TRG levels are considered neutral.

4) Rates above MTL Level is Bullish.

5) Rates below MTL level is Bearish



Trading Signals

1) TRG level crosses above the ATS is Bullish.

2) TRG level crosses below the ATS is Bearish.

3) TRG level crosses above the MTL is Bullish.

4) TRG level crosses below the MTL is Bearis



Price Bars (This is the most important signal)

Dark Blue price bars indicate the current intra-day trend is Bullish (Up).

Dark Grey price bars indicate the current intra-day trend is Neutral (Sideways)

Dark Red price bars indicate the current intra-day trend is Bearish (Down)

The price bars will change colour first in fast moving markets, this is the first clue that a new trend may be underway, use the previous support and resistance levels as entry points for trades.



ATS Trend Index

ATS Trend Index - Red Line

ATS Signal Line - Black Dashed line (lesso: moving average of ats?)

Trading Signals

1) ATS Trend Index crosses above the signal line is Bullish

2) ATS Trend Index crosses below the signal line is Bearish

3) ATS Trend Index crosses above the '0' Line is Bullish

4) ATS Trend Index crosses below the '0' Line is Bearish

Watch for divergences between rate and indicator

Yes, I do use fibs, sto's, and raff regression-trendline support and resistences for this. What I dont do, however is buy and sell on impulse, save that for when you are at 7-11 and want a slurpee on impulse- then buy on impulse- cmon morpeus did you take the BLUE PILL today

The market will not cater to what I want no matter how bad I want it. I am a spoiled child who has been taught a lesson. (sheesh, sounds like a line from a hiaku)

THE SPOILED CHILD,

A LESSON FOR PUNISHMENT,

THE SUN NOW RISES!
lesso-
lol

Morpheus I sent you a pm.

A RAKE IN THE YARD,

BROKEN NOSE WHEN STEPPED UPON,

THAT MAKES THREE TIMES NOW>

-lesso