Australian (ASX) Stock Market Forum

GBPUSD thoughts

yesss will i agree 100% on risk but also on the same trades/different systems thing.
actually touched briefly on this with Peter2 a couple of weeks ago. i have had this experience a few times , my conclusion is that all,, maybe a lot anyway, of TA is the same.
what i mean is that of the countless different TA methods, systems,indicators ,philosophies etc, etc, it does not matter so much what method you use. a trader ends up being drawn to a method that sits well with that trader. but no one method is any better than another, any method used competently can bring results.
the proof , if you like, is that 2 traders with 2 methods often end up in the same trades.

as to whether those 2 traders are using their methods "competently":):):):) is probably still wide open to debate.
My point too , the answer then if two consistently profitable traders with different styles make money .The only common thread is managing risk which makes them the same but different from the rest of the traders.
 
Yes false break outs suck .Would have 90% win rate if it wasnt for them:DIm still in with stop below 1214 which is previous Resistance on 4 hour chart.
This may be an overnight job. Need NY vol to move it up. also high vol at NY close helps as swing traders close positions for the weekend.
 
Yes false break outs suck .Would have 90% win raet if it wasnt for them:DIm still in with stop below 1214 which is previous Resistance on 4 hour chart.
This may be an overnight job. Need NY vol to move it up. also high vol at NY close helps as swing traders close positions for the weekend.
What would be the win rate using false breakout method?
 
volume decreased on down bars may indicate supply diminishing . going to post a chart on my other thread to show peter and others the spread.
 
You could , for example have a long bias then a two leg pull back which is sort of false break , then a higher low entry. Is it greater than 50% successful , I don't know but if it was 51 % successful I would take it every time.
 
GBP has a squeeze on as triple would say
just looked also squeeze on 4hr chart.
so my continuation play would be back to 3000 as part of the continued squeeze.
 
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