Forums are great because of the archiving. Someone could find a concept from several year ago and bring that forward for more discussion and illumination. It’s what forums are for, contrary to the opinions of the very ingnorant score keepers. Most times we find these score keepers are not contributors of infromation, IAC. Contributors of stife and phony rule enforcements, maybe?
So, for those that might be interested, here’s what I get from Oanda. Really two sets of data. One is the pivots, fine. The other is a synopsis of the levels of Technical Significance per major pair.
So, for someone like me who is trying to understand the signals and pitfalls of technical trading, this is a gold mine of technique. Seems to trade about even, however if I take all the trades and the wide stops.
But, with a bit of understanding, I have modded it into some paper profits. They do get excellent pullback entries. And that alone can make the difference, long term, I think.
But, sometimes they will take profit before the TP point in the middle of the night, for me. Often, much of the profit is not there in the morning. But, I still take what I can get, immediately.
This is AUD/JPY and they come out every few hrs.
Level Tchnical Significance
82.50 Upper Bolli
82.35 Daily high July 5th
82.25 100 DMA & July 6 high
81.75 Daily High Jul 11 80.55
81.20 10 & 100 DMAs, 7/18 low
80.95 Post-Bernanke spike low
80.40 July 16 low
80.0o July 12 low
Position At Open/Close Target Stop
LONG 81.30 2012-01-01T00:00:00 82.50 80.70
Uptrend off June lows intact. Pair remains above 10, 21 & 200 DMAs. June T-L sits near 80.80 break below puts rally in jeopardy.* Our stop is set below T-L at 80.70. Target set at 82.50 just below May 4 high. (CR)
Copyright © 2012 Thomson Reuters - IFRMarkets