I have updated my Retracements Level script to alert traders to long term Support and Resistance levels based on 50% Fibonacci levels. I think that this is a simple and highly valuable tool that every trader should have in their toolbox to identify key levels that price may respect. In this video I go over the many uses: -Long term levels for Entering and...
The “OOPS pattern” was developed by trader and author Larry Williams. It was named, according to Williams, for the all too common experience among traders when a broker would call his clients to report that a position was stopped out and say, “Oops, we lost.” This was due to the market gapping from one trading day to the next due to an overreaction from some...
OANDA:GBPJPY 3 days ago I published my Bearish target for GBP that was reached yesterday @141 level. it is critical in a trading plan to anticipate retracement. Retracement is a necessary step to initiate a new impulse but what I would like to simply illustrate is why retracement can be so brutal and potentially very damaging by nature. On that 120 minutes...