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How To Make A Full-Time Income Trading Less Than Part Time

Big Dogs Exposed

Sound familiar? You have spent years surfing the 'Net, and studying books and charts in search of commodity trading rules, a currency trading strategy, stock market successful trading strategies, or information on how to use commitments of traders data. All you really want is the 'Holy Grail' of entry techniques. You usually end up adding one indicator on top of another, switching from one guru to the next, until you are so confused and unsure of your entry system that you are unable to make entry decisions and stay organized. You get so distracted and frustrated that you quit watching the markets all together!

Shows you how FAST you can make money when the BIG DOGS make their move - by shamelessly copying this winning group . Even I am STILL surprised by how much power they have over ALL markets - not just commodities futures, currencies, and stocks.G

Newsletter: Combining Chart Patterns, Pivot Points

This information is provided in support of the TradingSmarts Newsletter, which caters to those traders in search of commodity trading rules, a currency trading strategy, and stock market successful trading strategies. If you haven't yet subscribed, you can do so by going to www.tradingsmarts.com and accepting the invitation when you click away.

Here, we are going to focus on combining chart pattern recognition with pivot point analysis in the Forex market, which produces significant results.

The trick is to focus on a small number of the more consistent, reliable and re-occurring formations, like the powerful reversal formations at tops and bottoms of price ranges.

When chart pattern recognition skills are applied through the use of my Pivots Program, benefits accrue. The targeted support and resistance numbers are like an early warning system. Being aware of an important price target level, accompanied by a pattern, you can then anticipate your next move.

You should also consider multiple time frame analysis. The daily, weekly, and even monthly target numbers should be taken into consideration in your approach to the market.

The key target numbers from the pivot point calculations identify the support and resistance levels. The daily and weekly target numbers are good setup numbers to watch. Since they are on two different time frames, they offer a powerful source of support and resistance levels from which the market tends to react off of. This just gives you more ammunition to work with.

And, the pivot point numbers identify the potential range for the day.

Specifically, the pivot point calculations give an early warning signal, and bar chart formations confirm potential buying or selling opportunities. Formations like triangles and wedges are instrumental in helping you take action.

Trading is not only subjective, but rather an art form versus an exact science. Shades of gray I call it. The pivot point produces exact target levels, but sometimes the market trades in a general area of price support resistance levels.

Oftentimes, the market will only trade close to the actual support and
resistance target numbers. Having access to support and resistance numbers, plus combining the bullish or bearish patterns, facilitates identifying bankable trades.

For example, even if you were not convinced that a downtrend would hold, then at least the "breakout" from a symmetrical triangle pattern in a downtrend would enable you to capture a portion of the ensuing decline.

Bullish and bearish pattern recognition helps you get in at bottom and top price reversals.

Armed with these indications, and combined with pivot points, you will have a wealth of signals at your disposal in order to develop a proper game plan. At the very least, it will keep you from buying the high or selling the low.

Of course, using MACD in different time frames, and looking for divergences in each and/or in combination, is a potent addition to the mix.

Further, looking for signals in different time frames, such as the 15 min and 1-hr charts, will offer important clues.

To be sure, understanding how to interpret trend lines is also an important undertaking, as is knowing how to read the various bar formations.

Paying attention to the news will also give you important clues as to where your currency might be headed next.

You can get your very own copy of my Pivots Program by buying my book at www.tradingsmarts.com/order.htm When you do you so, you will also get access to my own personal Forex trading examples on a daily basis.

For a free copy of my document on reading bars, all you have to do is send me an e-mail: prbain@tradingsmarts.com

When it comes to commodity trading rules, a currency trading strategy, or stock market successful trading strategies, you will find a whole lot more in my internationally acclaimed book ...

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How To Make A Full-Time Income Trading Less Than Part Time

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