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PittsburghFX · 23-09-2004, 18:48

007,

The best way to describe catching market turning points are best responded as a Marine Harrier Pilot told me trying keeping his plane at a level hover consider keeping the aircraft a straight pitch. "It's like like running a race with trying to balance a nickle on your thumb. If you do it successful you earn great rewards, otherwise you crash and burn."

Catching market turns, the only way to do it would be to see to the future. This is possible, but honestly, only with experience. You have to be able to see and remember most importantly, previous price levels, fib levels, S/R, and indicator postures. Indicator postures, I best compare this the the Croc Hunter. I have seen this crazy Aussie jump on crocadiles, alligators, snakes, and tons of other deadly creatures without a scratch. I know hes not crazy because he understands the animals posture. Crocs and Sharks are easy to see before they attack. The Shark has a high back posture, the croc has an open mouth ready to get into proximity to you, rattle snakes curl up and shake their rattle!

What the heck does all this Biology have anything to do with trading? Easy, there is only one MACD. Using 12,26,9. EMA Crossovers, Stochastics, it is all the same. Before the RSI may be headed up and now is tanking. RSI goes from 50 up to 85, then starts taking a drop to 75, and for example the price may be hitting resistance at a 38.2 Fib level. So in this example you have CONFIRMATION. The order is place, stop is 30-50 pips away from the Fib price. Limit is set at a S/R price from where it came from and it trades itself out. Thats what you need to do to get started.

23-09-2004, 18:48	#3 (permalink)
PittsburghFX level 3 Join Date: Sep 2004 Posts: 235 Rep Power: 0	Market Turning Points 007, The best way to describe catching market turning points are best responded as a Marine Harrier Pilot told me trying keeping his plane at a level hover consider keeping the aircraft a straight pitch. "It's like like running a race with trying to balance a nickle on your thumb. If you do it successful you earn great rewards, otherwise you crash and burn." Catching market turns, the only way to do it would be to see to the future. This is possible, but honestly, only with experience. You have to be able to see and remember most importantly, previous price levels, fib levels, S/R, and indicator postures. Indicator postures, I best compare this the the Croc Hunter. I have seen this crazy Aussie jump on crocadiles, alligators, snakes, and tons of other deadly creatures without a scratch. I know hes not crazy because he understands the animals posture. Crocs and Sharks are easy to see before they attack. The Shark has a high back posture, the croc has an open mouth ready to get into proximity to you, rattle snakes curl up and shake their rattle! What the heck does all this Biology have anything to do with trading? Easy, there is only one MACD. Using 12,26,9. EMA Crossovers, Stochastics, it is all the same. Before the RSI may be headed up and now is tanking. RSI goes from 50 up to 85, then starts taking a drop to 75, and for example the price may be hitting resistance at a 38.2 Fib level. So in this example you have CONFIRMATION. The order is place, stop is 30-50 pips away from the Fib price. Limit is set at a S/R price from where it came from and it trades itself out. Thats what you need to do to get started.