Ok I've gone short on the DOW. I'm seeing a dowtrend in the daily charts.. it's a series of lower lows and lower highs. I believe that the market has just completely it's retrace from the downtrend and now going to make it's way down. The blue line shows that there has been a resistance where price was contained, this is around 15080. I'm hoping price will head lower to 14650 or so where my target is.
Pinbars are usually great indicators showing strong buyers or sellers in the market. Typically, you would follow the strong participants in the markets as there is a greater chance of the price going your way if you follow them. However, this wasn't the case for the GBPUSD forex pair on Friday. I actually placed a long on the Thursday seeing the pinbar. Now, it was a countertrend trade which is more risky and the day before, we did get a very strong sell bar. However, the pinbar as you can s
Hi Everyone, I'm really sorry that I've been away for a while.. I've been rather busy with quite a few projects. It's all very exciting and I hope I can continue updating this blog and keeping you updated. I have been trading on/off lately and after going through a period where the results weren't too great, I'm happy to say that I'm back on form and disciplined. I'll write more about that another time but today I just wanted to let you know of my long entry on AUDUSD this evening. On t
