DislikedI found this on another thread. I hope it helps.
This is a fantastic thread have yet to read it all.Ignored
Thank you.
No brainer fundamental trades 55 replies
This time... I'm Keeping MY MONEY (BRV - No Brainer Trades) 3 replies
The Koala System (No brainer) 127 replies
EUR/GBP SHORT for No Brainer 67 replies
Selling USD and YEN is a no brainer. 12 replies
DislikedI found this on another thread. I hope it helps.
This is a fantastic thread have yet to read it all.Ignored
Disliked$USD looks set to continue it's ramp up across different pairs. I won't be suprised to see eur/usd hit 1.4350, usd/cad hit 1.1000, usd/chf test 1.1300 and cable 1.8200 in the next few daysIgnored
DislikedI would start buying usd/jpy @ 109.30 and average again @ 108.50. It looks like it's going up in a nice staircase formation. I see major resistance at 113.25Ignored
DislikedI would start buying usd/jpy @ 109.30 and average again @ 108.50. It looks like it's going up in a nice staircase formation. I see major resistance at 113.25Ignored
DislikedHi Billy Iron man or any other pros out there - Just have a question regarding intra day scalping...
I understand the workings or trading levels that have been support turned resistance vice versa but what about plain levels of support that have been broken - Is it safe to trade these?
Here is an example on the pound yen - Would this be a valid short at the previous support that was broken (which also happens to be yesterdays low)?
I notice on the 4hr timeframe these seem to be more consistant.
Just a little confused I read the instructions at the start of the thread and it says that we are looking for turning points that have been used at least twice... Preferably as both S and R
But then in the section on scalping it seems that you are trading each level of broken resistance as support, and each level of broken support as resistance.
Just a little confused
CheersIgnored
DislikedBRV, Hey welcome back and a nice way to deal with messy forum stuff !
Now, on topic, I know patterns/diagonal TLs are next to none when making a discretionary decision here, however would you consider USD/CAD moving in a bullish flag oh H1 ?
Something to ponder uponIgnored
DislikedWas there anything wrong with this trade? Went short at 1.8608 and stopped out for -21
Seems every trade I don't take wins and every trade I take losesIgnored
DislikedHi Billy,
How do you handle the case where price falls down to a support line and then just stalls and starts moving sideways? Assuming you had a long trade there, do you hold it to see if price will eventually start moving back up (and risk hitting your full 40 pip stop if it doesn't) up or do you close it right away for either a small gain or loss? I'd post a chart but I'm at work right now and can't, however you can see this exact scenario right now on the 1hr USDCHF.Ignored
DislikedIn one of BRV's earlier posts he explains that this behaviour is NOT what is wanted. These levels should create action when they are hit. The best ones will react immediately. But some will take a little time before reacting properly. However, lingering in the area is a bad sign. It might resolve for you, or it might not.Ignored
DislikedLong usd/chf 1.0924, stop 1.0804, TP 1.1260 .... swing trade.
I'll average again at 1.0854 (if it get's there), with the same stop and TP.Ignored
DislikedIn one of BRV's earlier posts he explains that this behaviour is NOT what is wanted. These levels should create action when they are hit. The best ones will react immediately. But some will take a little time before reacting properly. However, lingering in the area is a bad sign. It might resolve for you, or it might not.
There is nothing that specifically defines how long to wait. In my opinion, this can be different for different pairs. Also, I would advise considering what you are seeing relative to any pending news.
I don't know enough to advise you beyond this. Perhaps BRV will chime in with more guidance when he shows up again. But BRV would surely tell you that there are ALWAYS other opportunities coming, so don't get trapped in your thinking. A small loss or breakeven will allow you to survive until something more cooperative comes along... In the end, you have to evaluate your own risk tolerance... And that is a sword that cuts both ways no matter where you stand on that spectrum.
I'm NOT advising you to sell OR hold. Understand? I don't know you, and I can't evaluate your account, trade size, tolerance, etc... And even if I did, I don't think I'd ever want to be held reponsible for your trade decisions. Nevertheless, I hope I've shared something of value.Ignored