Newdigital,
That is a really cool little pivot tool.
Thanks.
JKY

I like the fact that you have historical S/R points vs the regular ind which update and delete.

Closing down Cable and USDNOK. Do not like USD behavior earlier today.

USDCAD is sold from 1.1700

Targets 1.1636
1.1611

Stop b/e + 1 pip

Long EurUsd from 1.1815
Taret1-1.1879
Target2-1.1923

Position1 -Hit target 1.1879 for 64 Pips
Position2- Stop Loss now at 1.1865

2nd position SL Hit for 50 pips.

JKY

I thought that was a neat show of resistance by the R/S indicator posted by NewDig. See image.

Attached Images

Resistance.gif (16.1 KB, 488 views)

I wish everyone a merry x-mas and happy new year. I am not trading until the 27th.
JKY

dear ykimyeko
i have learned the main woodi patterns(ZLR-TLB-HTLB-RD-vegas trad....)
and all exit signals but i do not know exactly what should i do with them.i am able to distinguish all patterns but where i should go in trade(most profitable).as far as i know woodies profits are low.is it right?
please guid me in this matter

I am by far not an expert in woodies system, but one reason for failure that I generally know with most strategies is that when you mix too many trading methods it will definitely throw you out.
If you make an entry using woodies method make sure you exit using his recommended exit strategy.When Woodie says you exit do just that. Any method that has been found to be profitable will only be profitable if traded consistently. Those that say that Woodies methods are not very profitable are most likely not traders but want to sell you their system of trading.
Combine any decent strategy with good money management and you will be good to go.
I use CCI which Woody uses but I don't use his strategy to trade, I use other indicators too like Williams % R and RSI , Dinapoli Targets and Camarilla Pivots for targets. I don't always win, but if I win more times than I lose and lose less than I win per trade then I am profitable.
It takes discipline to be a succesful trader, you probably must have heard it said many times. It is true. Stick to one system and trade it like your life depends on it.
If you choose to trade woodies I would start with one start by mastering 2 techniques and the 34 EMA. The 34 EMA helps as a filter, flat 34 means that the market is choppy and you should stay out.