Hey there fellow traders,

I got a question in from a fellow pip sniper member and I wanted to give it some attention in todays market review. The question is in regards to the additional filter of the orange line in a SRC or BRC setup.

I have posted the question and answer below and have also made todays video highlighting this topic.

Enjoy and have a good weekend.

Cecil Robles

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QUESTION: the second last page of the book containing all the slides from the course there is a slide entitled - Additional Filter # 1 The Orange lineYou say that if the reversal bar dips into the bar at any time the reversal bar is invalidated.Also if the reversal bar closes below the Orange line it is invalidated. Does this apply to both BRC's and SRC's. What if it closes above the line? Please clarify?

ANSWER: This filter can be good for determining whether you are in a parallel market or a counter-trend market. A parallel market is a market that is trending and we do not want to take reversal trades in trending markets. We want to take reversal trades in counter-trending or sideways markets or if the market has had a significant swift movement. So for the sake of this filter whether it is a SRC or BRC it will work. If it is a SRC that closes below the orange line or dips into the orange line it will be invalidated. If it is a BRC and closes above the orange line it will be invalidated.

The main key here is to really measure triangulation. Triangulation is the single biggest factor in discerning between good reversal setups and not so good reversal setups. I have inserted a chart example for you to see exactly what I am talking about.
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VIDEO BELOW


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Labels: Frequently Asked Question, Market Analysis

Greetings,

I am just back from Las Vegas where I hosted our first IB Mastermind. We had a great time and learned lots of cool stuff I'll be sharing more about in the future.

So what has been happening in the market here recently. Well, on the longer time frames we still don't have much indication for the next big trend, so we are sticking more with the 4 hour charts at the present moment.

There is still plenty of volatility on almost all currency pairs, so swing trading is giving us the best opportunity. I have heard mixed results from many day traders, but as long as you are trading during the London and New York sessions I still think there is a lot of opportunity there as well.

Ok, on to the market reiew where I spend about 5 minutes analyzing the EURUSD 4 hour chart. If you are currently long based upon the two fractal breaks I will point out it may be a good idea to take some of your profits off of the table and let the rest ride.

Check out the video below.


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To your trading success,
Cecil Robles

Labels: Market Analysis

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To your trading success,
Cecil Robles

Labels: Currency Trading, Forex, Market Analysis, video

Fellow Trader,

Most currencies have been on a tear, but is it time for a reversal or a sideways market. That is what I will talk about in this daily review. Also I get humbled by my own teaching and words and learn a valuable lesson myself. And finally one of our students shares his experience in the trenches, dealing with bad trades and what happens when you trade through them.

I hope you enjoy. Also I would like to hear your comments so, go ahead and comment below. Also I would like to know how many of you would like me to do a Q&A webinar where I just answer your questions about trading, the charts, and whatever else you want to discuss. Shoot me an e-mail and let me know.

To your trading success,
Cecil Robles

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Labels: Currency Trading, Market Analysis, video