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I found this quite interesting that there is an never-ending debate as to whether PIPS or dollars (you earn per week/month) are more important - and I wanted throw my opinion in the ring.
Fools chase dollars, wise gather PIPS - trendwaiter.com
I think PIPS are more relevant and IMPORTANT - as opposed to dollars which come & go [...]
Hope your trading is going well - its late to wish you all a happy new year - but hey! - happy new year anyways!!
I haven’t written for sometime & got a few emails asking if I was ok - thanks for your concern! - appreciate it. Just got busy with work.
Interesting thing - since Jan [...]
hi all…just hope you guys have a great thanksgiving…will be back with more blogs from next week.
I decided to write about what I learnt about technical analysis - if I may - I would like to generalize and and create two umbrellas - touch & go - and Breakouts.
Touch & Go - is where the market touches a point & reverses itself - the point is only valid if the market reverses itself [...]
I believe the market fell too fast - 2257 pips in one week - MY GOODNESS!!! - that’s a feet unlike ANY. I could not find any historical data that showed such steep loss.
Good news - its time for correction- expect teh market to hit 50% retraction level or more before it either pursue bearish [...]
Its the second week that I noticed this opening range breakout in action - but this time in gbp/usd pair - it was amazingly obvious.
As my habit goes - I trade 4hr chart - with an eye on weekly chart. So I combined the two to get a screenshot which is posted below.
Once the market fell [...]
Ok - first my apologies for not being able to blog the last week - been moving and had to restart my services including internet etc.
Jumping right in - Opening range breakout is one of most popular intraday trading ideas in professional trading community - I am going to use this on a weekly chart - [...]
ok - it drifted below 7950 my yesterday’s - if bearish prediction - and seems to have hit a temporary support at 7750 - but with its new-high at 7875 unbroken - the pair could go lower.
Next possible Path - Bullish
Will take out the new-high of 7875
will meet resistance at 7950 - if broken - can [...]
Ok - here’s the gbp/usd 4-hour chart. here are my observations:
The trend is definitely bearish
MA crossover of 5/20 - also called donchian (used mostly in daily charts - I used it here) indicated downside
Resistance at 1.8300 (last week’s low)
A possible new resistance from the new high at 1.8200
A double-bottom has been hit at 1.7950
Next possible [...]
Hi - thanks for stopping by.
I am a forex trader - or atleast trying to be one since 3 yrs. I am actually a web developer - who has been trying to become a full-time trader.
I decided to log gbp/usd - the pair I trade the most - and hope to post my “visions of the [...]
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