Dislikedi went short from 15480. had a feeling so I protected 10 pips with a stop, and price came back and knocked me out with my 10 pips.
I went back short at 15479> let's see how it plays out.Ignored
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Dislikedi went short from 15480. had a feeling so I protected 10 pips with a stop, and price came back and knocked me out with my 10 pips.
I went back short at 15479> let's see how it plays out.Ignored
DislikedDon't know if I would get in right now since eurozone cpi news coming out in a few minutes.Ignored
DislikedHi FF, BillyRayValentine do you ever trade the bounces when you see price is not going to break (follow through the break) the S/R line? For example the GBP/USD in the chart above.(sorry loudiniii-it's a good example)
Thanks,
bigplans47Ignored
DislikedLong USD/JPY 104.38 - 104.33
On an intraday basis, this level should pay off in normal market conditions. I'm uncertain as to its continuation though. From a technical perspective, I'm still long dollar biased. Fundamentally not as much. Yen is in a funnel right now waiting for a breakout. If the next move is up, the strongest levels of resistance are appx. 105.45 to 105.59.Ignored
DislikedLong USD/JPY 104.38 - 104.33
On an intraday basis, this level should pay off in normal market conditions. I'm uncertain as to its continuation though. From a technical perspective, I'm still long dollar biased. Fundamentally not as much. Yen is in a funnel right now waiting for a breakout. If the next move is up, the strongest levels of resistance are appx. 105.45 to 105.59.Ignored
DislikedHi everyone; hope you had a good weekend. For anyone following this, news came out in the US equity markets that had a minor negative affect on the dollar. The most this gave out so far was +14 from the upper level, +19 from the bottom of the range. Price went as low as 104.03; depending where you put/how you manage stop losses you might or might not have taken any loss if you were looking to trade. I'm still bullish. On an intraday basis, more support can be found in the 103.90 area if price moves lower. Its also a .618 retracement zone.
And FYI price need to break 104.30 upside to signify a further push favoring the dollar; that's how these things go (support turning into resistance). When you see it it usually means things are going to keep on heading up to the next level, which I believe to be the case here. We'll see. I still want to target 104.95, either on a push lower or from here.
So to average +16 pips max so far conservatively.Ignored
DislikedHi FF, BillyRayValentine do you ever trade the bounces when you see price is not going to break (follow through the break) the S/R line? For example the GBP/USD in the chart above.(sorry loudiniii-it's a good example)
Thanks,
bigplans47
EDIT: I just want to clarify my question about trading bounces-I mean at the time of the break only, not by looking at the price hours laterIgnored
DislikedBilly Ray, Expanding on BigPlans question, do you ever see a pattern that increases the odds of a bounce or a breakthrough of the S/R lines?
Thanks,
JTDT777Ignored
DislikedHey B. Ray!
Could not sleep earlier this morning so instead of watching TV I decided to go to the Billy Ray school of S/R.
Put in Buy Limit on U/J at 103.95 ( It was hovering around 104.18 at the time.)Put in stop at 103.75 and TP at 104.45. Went back to bed. Just woke with 50 Pip win!!!
Great way to start the day!
Thanks for your teaching. Keep those " No Brainers" Coming.
GSIgnored
DislikedI'm still very new to trading, but this type of trading strategy really appeals to me. At least it makes the most sense to my ignorance. Thanks Billy Ray!
Can you tell me what you think about this Long setup that I think I see for CAD/JPY at 103.81?Ignored
DislikedSure it looks good and I've been watching it but price keeps using that level as a magnet. If JPY gets the push I believe it will you should be fine. Ideally, the first or second hit on that level would have been the one to get a hold of. The more it gets pounded, the less likelihood of it holding. It could still be good based on current conditions, but again over time probablility generally decreases. Its a rare case because its been hit 3 times in the last few days. Hope this helps somewhat.Ignored