Hi all, i just want to discuss a simple strategy (absolutely not new, to everybody i think), anyway very good i think.

Well, let's start to talk about support and resistance as how i see them!

In the market, there are as you know points of support what happen when price touch them?
It happen one of these two things:

1) When price touch/break a support point, experienced buyers start to buy, and experienced sellers close their sell position and start to buy them too, in this case the price give a fast up-move, to escape from the support.
Same happen for resistance, but just the inverse.

2) When price is touch/break a support point, i don't know what exactly happen in "an hypotetical PIT", anyway it happen that support become resistance, and act as a REAL resistance, giving a fast down-move to the price.


Now, what i want to do, is open trades only when one of these two things happen, but.. how to recognize which one of two will happen?

I've done a screenshot to let you better understand what i'm talking about, i hope it is clear to understand!

Do you have any suggestion? Any method to filter some bad trades (if u look the image, u see that the bad-ones can be a good ones too, if able to identify the fact that "that" support point is a STRONG support point, and will not become resistance when breaked of some pips, and inverse for resistances.)

I will continue to study for find a good filter, anyway, i'm seriously looking for some suggestion about it, anything and anybody is welcome, tnx for reading

Attached Images

Immagine.JPG (156.7 KB, 708 views)

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In more details about it you can read there.
I'm studing this trade system and it's very profitable one for me.
Just now I start to understand what is Forex...

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In advance thanks, Edwards.

Hi, thank you for your reply, i'm starting to really unerstand how forex work too, eheh

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I get your point.. and with the image itself, i could see how the channels react when there's a breakout..

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FX Trading

Hi,
I just began reading this thread after a fellow member recommended it to me. It seems like i'm rather late. I noticed that some posts are refering to what bubble said previously, but I can not find his posts in the thread. What happened to his posts? I wanted to learn this trading method.

Thanks

FXBabe:

Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.

Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!

Ed

Attached Files

Bubble advice.pdf (667.0 KB, 247 views)

cheers man

Someone in another post mentioned in another thread that he trade S/R using the bubble system, I guess this may be it. He posted his demo statement using the bubble system, and it was very impressive. Thanks for posting...

cheers man

where can i find that post?

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Forker Trader