Milking 71pips from USDCHF on 4th of Jan '08

Joined : 23 Dec 2007 Posts : 235 Location : Nigeria

1.1176-1.1105=0.0071
1.1129-0.0071=1.1058 (target point)

Age : 23 Joined : 08 Jan 2008 Posts : 2 Location : owerri

hello stallion im a new bie here pls can you explain how this your price projection works and the currencies it works on.

Joined : 23 Dec 2007 Posts : 235 Location : Nigeria

Thanks, sadorjnr, for your mail. The CHART PATTERN RECOGNITION AND PRICE/TIME PROJECTION STRATEGY works on ALL timeframes(15m, 30m, 1hr, 4hr,etc) and ALL currency pairs(EURUSD,GBPUSD,USD/CHF, GBPJPY, etc). It involves the use of chart patterns and swing points to project the minimum distance from whence price would travel. The practical essence of trading is to know WHERE price is going and HOW FAR it go.

We also apply swing trading techniques to the forex markets. ''The goal of swing trading is to capture relatively short, quick moves in the market based on technical analysis. This usually means that the swing trader is trying to trade with the trend for another leg up after a correction within a bull move or another leg down after a rally in a bear move.

There are many ways to define the prevailing trend, but one thing they all have in common is that a new emerging trend is never obvious until a bottom or top has been made and the market is well on its way to moving in the direction of the newly established trend. By definition then, the trend trader will almost always miss the first
third of the move for the new trend, not knowing it is a new trend until that point.

Likewise, the last one third of the move for the now aging trend is never obvious until after the trend is over and a counter trend begins. This makes it very difficult to trade the first and last one third of the prevailing trend profitably and is the cause of much frustration among swing traders who are having a difficult time identifying the prevailing trend.

A far better way to trade is to stand aside from the first one third and be prepared to breakeven or be stopped out on the last one third of the trend and go after that middle one third, where the probability of being able to know the direction of the prevailing trend is high. It is the middle one third where all of the opportunity lies. So I
believe you should wait for the prevailing trend to show itself and then swing trade on corrections and rallies within that middle one third''

CHARTS would be used regularly, to analyze,learn and trade the markets. For indepth one-on-one training/coaching(online /offline), please contact Stallion; 2347035610861 or stalionstable@yahoo.com. Get ready for the NEXT LEVEL.