That I ´m starting this thread to develop discipline with the trading version I´m applying. My trading version is 100 percent discretional and established (Not completely) on JD version. You can read about this version http://www.forex-tsd.com/general-dis...fessional.html
I love to use equidistant stations, Fibonacci stations and Andrew Pitchforks lines to find very good support and resistance lines. Price action is another portion of my sport.
I shall just trade 5 or 15 minutes. My stoploss is generally fixed 25 pips and I will exchange from 10 CET to 17 cet hours. Before is to CET is 3 AM local time. I just make 1 or two trades every day.
English isn't my native language so forgive me if you find any mistakes in my own posts.
I'll just trade GBP/USD. Demo account. I've a real one.
That I ´m at a level where I know a lot of the market. I know I have great technical analysis however I fail when I open a commerce (open too late) or allow the chance go away.
Price reach Pitchfork´s line. Can turn around or will go through??
There isn't any important news today. So I anticipate all movement is going to be based on technicals. We have divergence on MACD. An old equidistant support line station @ 1.8558-64 (May be resistance for us).
I draw a new fibo station. 161.8 expansion of the next station gives a goal of 1.8620. That would be approximately 150 pips. That range is nice and common for GBP/USD.
On the last chart turquoise arrow means nothing. Noticeable how the 100% of this second channel cross through consolidation. Check this camarilla chart
Price coudn´t move beyond and fall from the median line. You can see on the chart the powerful support amounts (up arrows) along with a resistance level (down arrow -median line) http://imageshack.us