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This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.


I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program


Additionally, you can now get access to what I consider to be the best stock options daily trade alert service.


Of course, I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.


If you do want to follow along with what I am doing every day you can get access to my daily stock market report 



You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy

Until next time

happy trading 

Mr Phil Newton or on LinkedIn Phil Newton trader

Spotting Turning Points

Joe_Ross's picture
This question was sent to me from one of our students: "Hey Joe! Can you use trend lines to spot turning points? Is there a way to know if the turning point represents a trend change" When down-trend resistance line intersects the up-trend support line a "Turning Point" is formed. Expect the trend line with the longest time period value to win the battle between these buying and selling forces. A longer term down-trend channel resistance line should overpower the first challenge of a shorter up-trending channel support trend line. Expect either a short term trend reversal or rapid short term trend acceleration at the Turning Point. The first rule, after a support trend line is broken, is to look left, and find the first two days minimum reaction bottom directly below the current price level, that price becomes the next downside target. The lowest price of that two bar correction and lowest close are a support zone, where prices could find support and create the new trend channel support trend line.