Recent content by Red Fish

GBP/JPY waiting for consolidation breakout Yesterday we made a nice 200 pips on that wedge break I posted up about. Today London Open started off with a narrow consolidation and we’re waiting for it to break yesterday’s 9.00 low to confirm the trend is still down. Consolidations like this are...

Price action is key Ronald, I'm going to tell you something that it took me years to learn, when I started out I was taken all round the houses on special software, indicators, systems, and eventually I found the simplest way to learn to trade is reading candlestick charts, and looking at price...

Yet another wedge on GBP/JPY Well we got another ending wedge this morning before London Open on the GBP/JPY which is already breaking out. Yesterday we got 160 pips profit on the wedge breakout. Today we have to be careful about the strong support which saw 3 reversals yesterday. So it's a...

GBP/JPY in a wedge again Wednesday 3 December 2008: Yesterday we managed a small sell trade after the support break we anticipated, just 70 pips. And subsequently a few more pips on a buy trade as the pair reversed. But price stayed within a narrow range and after the buy trade was over the...

GBP/JPY patience and timing Tuesday 2 December 2008: Yesterday, if you had jumped into the momentum breakout which we posted up about as it was breaking you might have stayed in for around 500 pips. In our team there are those who trade conservatively, who got 150+ pips, and others who trade...

Simple Price Action Price action I find is the simplest way to read price movement. It is far better than indicators which tend to distract you from really absorbing price movements and understanding the flow of the market. I trade forex so I can only give you my conclusions from that...