Forex Chart Pattern Recognition technique on the Breakout System

[Kitty Eliffe]

Hi Mystikal

I wasn't aware of this thread until FPA sent out their recent mail shot.

I've just spent a couple of hours reading and understanding what you have posted.

Its been a very interesting and enjoyable couple of hours - clear and entertaining. You should write a book. I particularly like the Dr Van Tharp quote.

I'd be the first to admit that I've been guilty of this in the past and I think its possibly one of the first lessons newbies should learn* - what goes up must come down might be true for gravity but not necessarly for Forex.

* apart from my Forex golden rule LEARN WHEN NOT TO TRADE BEFORE YOU LEARN TO TRADE

"better to be out of trade wishing you were in than in a trade wishing you were out".

I'm going to spend the rest of day back testing 60% and 30% retracement positions on my charts - hopefully I can nick a few pips later.

The Forex jigsaw has a few more pieces in place.

Thanks and regards.

 

[Jahswill]

Great guy..Mystikal

Permit me to say "salut" Mystikal!

I'm thrilled at your system...though its just the results that I got to read on this thread. May I ask..can you let me have a copy of your system so that I can test it out here too....Live trade I mean....

Fear's not an option for me!

Please do get back to me. By the way, if you want to mail me privately, here's my addy: jahswill_rex@yahoo.com.

Thanks buddy...

 

[winkannaa]

great. how can i contact u. so u can trade in my account and get me profit? if so what should be the minimum deposit i should have in my account and how much can you give me assurance in a month?

 

[awsl]

Hello mystikal, can you explain what are the steps to setup a trade?

 

[mystikal]

1.9657-1.9587=0.007
1.9652+0.007=1.9722

Helloo folks,
We are seeing a 1-2-3 bottom in motion as at the time of writing...and our target price is setup to be 1.9722 from a buy stop of 1.9678.so we are looking at 44 pips or more to be gained if our trigger is hit..

 

[onwukarisa]

Hi folks,
hope you'all having a wonderful week trading the currency markets. Lets review what happened yesterday on the GBPUSD. We had the UK Industrial and Manufacturing Production reports,which came out less than expectations(-0.5% actual vs 0.3% previous). That was bearish for the GBPUSD, which supported the CHART PATTERN RECOGNITION and PRICE PROJECTION TECHNIQUE downward bias.

We also had MACD negative divergence to price,which also confirmed our move to the downside.

117 pips approximately, was made yesterday,$117 minilots, $1170 standard lots on the GBPUSD .

1.9766-1.9649=0.0117
1.9688-0.0117=1.9571(target point)

Hello Mystikal,
Please the values 1.9766,1.9649,1.9688,and 0.0117 how are they actually gotten? you told me they are gotten from the highs and lows but i cant trace them in the diagram.please explain

 

[TrueBlue]

Hello Mystikal,
I am confused too, please, explain.

 

[fxtender]

mystikal
please go to our site, FxTender.com and leave us an email in the contact form. Would like to talk biz with you about your trading system

 

[jebat1978]

1.9657-1.9587=0.007
1.9652+0.007=1.9722

Helloo folks,
We are seeing a 1-2-3 bottom in motion as at the time of writing...and our target price is setup to be 1.9722 from a buy stop of 1.9678.so we are looking at 44 pips or more to be gained if our trigger is hit..

congraz master....

 

[PistolDave]

Still not clear on strategy.

helloo fellow traders,
This is mystikal at your service...veteran forex trader and mentor.We are going to be using my CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY to milk some dollars off the currency markets,especially via the breakout system.

we are looking at the gbpusd pair right now...at 2.0031, we should be seeing a bullish target of 2.0130, based on the 1-2-3 pattern formation.

Hi mystikal.

Thanks for sharing some examples of your winning trades. I'm getting a hint of what you are doing in your trades, but how about putting down exactly what the rules are in a post, or in an attached file so we can be sure exactly what needs to be done. It will reduce the confusion.

Standing by,
PistolDave