Technical Analysis and Price Action, Bulls Sh@t or the Real Deal?

[Fugazsy]

Morning London session 11/12/14. EU, one minute Time frame.

1) Channel and bull Flag.
2) Symmetrical Triangle.
3) Channel and bull Flag.
4) Bear Flag.
5) Breakout pull back (also a Bear Flag) @ the Descending Triangle (not perfect, but for me close is close enough, especially if there is more then technicality as in this case)
6) Symmetrical Triangle.
7)Wedge reversal @ the magnetic line (see 5)

All entries were made 1 pip above the signal bars (numbered) and all trades reached a TP of 10 pips risking 5.

Share your experience if you wish.

Fzsy

 

[Fugazsy]

Not one reply , common boys and girls share a bit....

on the chart....

1) wedge reversal
2) wedge continuation
3) Head and Shoulder
4) Bear Flag
5) channel continuation.

2,3 and 4 reached a 10 pip TP with a 5 pip SL only.

1 and 5 did not reached 10 pip TP but if SL was trailed after 5 pips gained they would end at BE.

 

[Forexmospherian]

Hi Fzy

Never saw this thread until this morning

Yes TA and PA is the real deal - old style or even post 2009 - with whatever terminology you use

Trouble is most traders reduce the probabilities by using the wrong time frames and try fortune telling and guessing the next day / week / month etc etc

Dont forget the simple 123 or ABC pattern - harmonics and EW etc - for me more guessing stuff - so probability drops.

Another important component in the TA is the one no one mentions - time and time of the day.

And remember - the markets dynamic - dont be static dont have fixed size stops and targets - ie if you can get a 4 pip stop and a 9 pip result great - but if you think you need a 7 pip stop to get 13 pips - use it

25 - 40 - 100 pip stops just make the game harder - and the trader less profitable.

With regards to the BS side - all this cannot be learnt and made into a successful workable method in weeks and months when any trader is part time - its years and years and in some cases even decades to get to your own winning formulae

GL and I wish you further success in 2015

Regards


F

 

[Fugazsy]

Hi Fzy

Never saw this thread until this morning

Yes TA and PA is the real deal - old style or even post 2009 - with whatever terminology you use

Trouble is most traders reduce the probabilities by using the wrong time frames and try fortune telling and guessing the next day / week / month etc etc

Dont forget the simple 123 or ABC pattern - harmonics and EW etc - for me more guessing stuff - so probability drops.

Another important component in the TA is the one no one mentions - time and time of the day.

And remember - the markets dynamic - dont be static dont have fixed size stops and targets - ie if you can get a 4 pip stop and a 9 pip result great - but if you think you need a 7 pip stop to get 13 pips - use it

25 - 40 - 100 pip stops just make the game harder - and the trader less profitable.

With regards to the BS side - all this cannot be learnt and made into a successful workable method in weeks and months when any trader is part time - its years and years and in some cases even decades to get to your own winning formulae

GL and I wish you further success in 2015

Regards


F

F

Your posts make sense to me. Not easy but doable, passion helps, if passion is not there one needs to cultivate it, great traders are not born, they make themselves.....and remember when you swim in sharks infested waters swim between fat people.

I wish you success and health to you and your love ones .....

Fzsy