Kreslik.com - traders community since 2006

This certainly makes sense. My goal here was not to discuss my system. It was to discuss developing as a trader. In looking around here. It seems to be more of a MATH place and I do not qualify as a "C" student. I believe that the system is only about 5% of the success formula in this prof...

Number one the system that a trader uses has very little to do with his/her success. It is a fools game searching for the latest greatest. Everyone's methodology should be their own creation. Put me in a room with Paul Tudor Jones for one year and I will likely not be able to be PTJ. The system is a...

The static levels are not monthly pivots, although they may be very similar depending on your calculation method. I use the monthly chart for these calcs. Avery, Why are you so intent on figuring out the math for these? Don't you have your own system that is successful? Just trying to understand. YO...

Thanks RuGo. You know the one thing that I find is that when a pattern is recognized by the masses it many times won't work. WHy? It is already priced in. I had two emails this morning in my in box and one from a news service discussing the H&S on the EUR. Take the other side!! Is that you in th...

We have had some wonderful profit on our short positions on the USDJPY over the last several days. However, last week I was warning about near term USD strength in this pair. On Thursday and Friday the USD strength materialized and price moved up in a range of around 261 points. My conclusion was in...

Last week, I recommended setting up longs around the 9251 area. If you are long, then stay long as I continue to look for a move up to River level at 9383 and on to Transition at 9594. This would represent a move of approximately 201 points. Please take a look at the updated Monthly Price Distributi...

As we head into a new week, I am continuing to watch for a new directional flow for the Euro currency. If you just use a commonsense look at this pair and many of the currencies, you can attribute the consolidations and lack of trend to uncertainty in the market. Our global central banks are at vari...

Hopefully, you were able to take yesterday's recommendation to set up shorts on a move into River at 116.86. The high was actually 116.89 and we have had a nice move down of almost 100 points as of this post. I expect we will see some volatility on the ECB news out of Europe later today so stay nimb...

I continue to hold longs on this pair from below the 9251 level. Please take a look at the monthly PDA charts if you have a chance before planning trades. I expect we may move up and test the River Level which comes in today at 9386. We will need resolution of this area before our next directional f...

Today the EURUSD pushed through strong supply in the Transition Level at 3132 and also pushed through yesterday's River Level at 3145. We are still working to resolve the River Level and I anticipate building value into today's ECB rate announcement and the now famous Ms. Trichet press conferences. ...