Blog Home Closed Trades Paul’s Musings Website Information Harmonic Patterns
in Paul's Musings - 26 Jul, 2013
by - no comments
“Popular Delusions and the Madness of Crowds”

This was book written about 150 years ago, it chronicles historical events where people followed the crowd mentality.
The same applies in our trading where popular opinion tells us that we should be trading from pivot , support or reistance levels , expecting a bounce .

We have proved that this theory does not hold true , bounces do not occur as regularly as you may think and given the correct trading strategy in a staggeringly high proportion of cases, pivots and support and resistance levels do not behave as you think they will .

We have indentified a candlestick pattern that seems to predict when a level is not going to hold and therefore gives us sucessful trades time and time again. (we have had one losing trade in the last month)

Take a look at the last 2 trades that used this strategy.




Here we sold @ 92.08 we knew the price was going to drop past the 92 level because of the correct trading setup.
Most traders would have been long here from the 92 level , they would have failed miserably.

Next trade was taken by a couple of the members in our trading room this was on the AUDUSD.


AUDUSD Buy Trade

AUDUSD Buy Trade

This again was a buy trade at a major level when the many would have been going short not long . Yet again our candlestick pattern proved itself and yet again the masses ended up in a painful trade.

Unlike other Forex websites our trades are myfxbook verified to prove that the strategy works.

Click here for our MyFXbook stats page