Technical Analysis - Seeing is Believing!

You won't find this in tutorials!

Basically, using 14 day Simple Moving Average. Where MA turns it acts as Support & Resistance. Draw lines from Highs & Lows where MA turns and these too act as Support & Resistance!

Is scalping more profitable? I think based on pips per hour in front of the computer not really. Swing trading I can catch reasonably big moves and I can go do something else while I am waiting for a set up. While I am scalping I am constantly in front of the computer monitoring and adjusting my trades. Its fun if there is nothing else going on. If nothing else but for the challenge of it.

You will not find this in tutorials because it does not work. Sorry pal. It may work recently on a few pairs but in long term this will fail

It doesn't work?

It doesn't work?

It doesn't work?

emotionaltrader posted:
It doesn't work?

So you are trading based on FIBO & support/resistant tools? I like support/resistant too.

UNBELIEVABLE! AS IT HAPPENS! WHO SAID THIS SYSTEM DOES NOT WORK?

CONFLUENCE GBPUSD! Possible retrace to 38.2 Fib Level Approx: 1.28! Then back up to test 1.44!

...alternatively GBPUSD brief correction to approx. 1.306 and then up to 1.38 then back down to 1.36 and following this Mighty Sterling should go higher 1.51!

CORRECTION LAST POST: ...alternatively GBPUSD brief correction to approx. 1.306 and then up to 1.38 then back down to 1.306

and following this Mighty Sterling should go higher 1.51!

Missed Crucial Bit of Information. Please see Chart

Obviously this will take several months to complete etc!

GBPUSD I just want to quick correct my retracement level to approx: 1.316 and then up to 1.38!

Just got carried away...not known as emotional trader for nothing!

It is easy to find examples of ANY strategy working. The problem with any strategy is reducing the number of failed set ups

GBPUSD: Just out of interest see chart. Trend Lines take from 1985 Low 1.0790 and intersect where 14 Day SMA bends etc!

...and again GBPUSD Close Up!

This is why it's good/critical to have access to Historical Charts!

Flong

I'm not trading with any money as the Leverage Restrictions brought in by ESMA have made it not worth my while, but I like to keep up to date with what's happening in the market and of course I like Technical Analysis.

Algorithms and Robots have spoilt Trading and especially Technical Analysis as they do it all for you, but I get a lot of enjoyment from Technical Analysis. The sad thing is as I have proved there is still much that people can learn about Technical Analysis. I get so much enjoyment from discovering new things, new ways of analysing charts and the thing is it's all stuff that I've been blessed with! The introduction of Algorithms and Robots means new ways of analysing charts are being overlooked and are of no importance!

It's a Rich Mans Game now, no longer can people like myself have any prospect of making a living or making a fortune as you could 30 years ago! Trading is in the hands of the Big Guns, those with algorithms which are capable of running millions of different trades per second and reacting in nanoseconds!

Flong

The other thing I love about Technical Analysis is seeing a Candle bounce of the lines you've drawn and some of them have been there for weeks/months and seeing how they act as support and resistance and react to the price action etc!

That's the enjoyment of Technical Analysis, a bit like chess!