Support and Resistance Trading Forum

Erich - more Peso *PIC*
By:Joe
Date: Wednesday, 1 February 2006, 9:34 am

Hi, again - few follow-up thoughts.

I had to go "long range" to set some target - attached is a monthly pic of the peso - sure looks like a rounded bottom shaping up, with a lot of potential for growth.

My question is, how do we translate weekly and monthly figures to apply them to the daily charts? Didn't you have some instructions on that somewhere? If so, please point me to them.

The second picture which I am sending next, is my daily working chart - I'm still wondering what to make of that overnight move. In both Peso trades, I have been experimenting with working in a little of Tom's strategy. Let it hit a low S&R point, and then catch it on the move back up. I'm not into this very heavily yet, as it is still an experimental learning process. However, my total risk on both contracts is currently a little over $200, with a generous reward potential, so I felt I had room to try a few things. Time will tell. . .

In the meantime, keeping my fingers crossed and a prayer in my heart!

Thanks again, and good $$$$ to you,

Joe

Responses To This Message

Re: Erich - more Peso
Erich (vendor, CTA) -- Thursday, 2 February 2006, 12:31 am
ONLINE COMMODITIES TRADING