Replies to post #120619 on Simple's Green Room

[stkjunky]

Yes, each one of us has to find what works for them. Time to dedicate to trading/analysis. Pesonality profile and risk tolerance. Lots of stuff enters into trading. What works for one, may not work for someone else.

I will admit that technical alalysis has come a long way in the last 3-4 years. Example's are traders dynamic index and BRAVO to SG for his supertunnel. Lots easier to successfully trade the forex today, than it was 5 years ago...

I don't trade the stock market much anymore. I mostly hold these & occassionaly adjust my positions as fundamentals dictate. And try to apply the T's to to adjust/time the stock portfolio adjustments to my best advantage. But get my kicks from the forex...

[Qui-Gon Kagi]

pennies and stkjunky......fundamentals aside, E/A is just under the weekly 38.2 fib level so I'm thinking that with the previous weekly high support being 1500 pips below current price, there's plenty of room for a pullback here even though there's thousands of pips between the 38.2 and the 76 or 88 fib levels on the weekly chart following any pullback that occurs whether near this 38.2 level or the 50% fib level 1500 pips above current price. Lots of opportunities on both sides of this weekly fib level.

Another thing to mention is the weekly horizontal line of support which was broken in the 1.54/1.55 price range. We are 655 approximate pips below that major weekly line of present resistance. Just something to consider.