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  • #1,181
  • Jul 16, 2008 12:13pm Jul 16, 2008 12:13pm
is good time to Long on EURUSD??
  • #1,182
  • Jul 16, 2008 12:19pm Jul 16, 2008 12:19pm
I have finally read the whole thread and have been trading this system today with some great results. This works a treat for me and I would like to thank BillyRayValentine for sharing this with us.

May many more pips come your way BRV.
  • #1,183
  • Jul 16, 2008 12:29pm Jul 16, 2008 12:29pm
Quoting djambazov84
105.00 looks like an interesting S&R level for usd/jpy i think it just bumped against some major selling pressure

also great call on long @ 1.5800 BRV. At least from a scalping perspective
Was waiting all morning for it to hit that level, kicking myself for having my first short a few pips too high. Not sure I'm expecting too much, but expecting to scalp a small bounce.
Attached Image (click to enlarge)
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  • #1,184
  • Jul 16, 2008 12:35pm Jul 16, 2008 12:35pm
Quoting ZenTrader
Was waiting all morning for it to hit that level, kicking myself for having my first short a few pips too high. Not sure I'm expecting too much, but expecting to scalp a small bounce.


You can still get on the train
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,185
  • Jul 16, 2008 12:36pm Jul 16, 2008 12:36pm
Quoting djambazov84
You can still get on the train
Just got on board. *whoo whoo*
  • #1,186
  • Jul 16, 2008 12:38pm Jul 16, 2008 12:38pm
I just hope there isn't a split in the tracks...
  • #1,187
  • Jul 16, 2008 12:42pm Jul 16, 2008 12:42pm
I find today's rally in USA equities really interesting. Strong inflation = rally in equities. WOW. Is this a new correlation developing?

High inflation = Stronger US dollar = weaker oil = stronger equities? Anything is possible I suppose but today is a bear market rally until I see much more visual evidence otherwise.

I'll be shorting gbp/jpy big again after today's triple interest.
"Timing Is Everything. Really I Swear It Is"
  • #1,188
  • Jul 16, 2008 12:49pm Jul 16, 2008 12:49pm
S&P up over 28 points today and tearing everything apart in terms of losses over the last day and a half. JPY 105.00 will have a hard time holding unless the market corrects now (and I mean literally now before the close). EUR trade is on the fence just be careful selling dollars all I'm saying.

That's why I generally dont recommend getting into trades after the level gets hit. If you miss the level you projected price will turn at I would just recommend waiting for the next trade. Thats what I do atleast. Not all the time is it the case, but it has also saved my butt more times than I can count in heated markets!
  • #1,189
  • Jul 16, 2008 12:51pm Jul 16, 2008 12:51pm
Quoting Wilko
I have finally read the whole thread and have been trading this system today with some great results. This works a treat for me and I would like to thank BillyRayValentine for sharing this with us.

May many more pips come your way BRV.
You're quite welcome Wilko. I'm glad to hear it!

Once you go No Brainer you never go back.
  • #1,190
  • Jul 16, 2008 12:57pm Jul 16, 2008 12:57pm
Long usd/cad at 1.0021. No brainer? With oil dumping $10/ I think the loonie has 75++ to dive before the end of the week.
"Timing Is Everything. Really I Swear It Is"
  • #1,191
  • Jul 16, 2008 1:02pm Jul 16, 2008 1:02pm
Quoting TexasforEX
Long usd/cad at 1.0021. No brainer? With oil dumping $10/ I think the loonie has 75++ to dive before the end of the week.


Hmmmmm...upcoming resistance @ 1.0050 ? has been suuport and now worked as resistance on H4. Waddyasay ? It is indeed tempting though...
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,192
  • Jul 16, 2008 1:19pm Jul 16, 2008 1:19pm
Quoting BillyRayValentine
S&P up over 28 points today and tearing everything apart in terms of losses over the last day and a half. JPY 105.00 will have a hard time holding unless the market corrects now (and I mean literally now before the close). EUR trade is on the fence just be careful selling dollars all I'm saying.

That's why I generally dont recommend getting into trades after the level gets hit. If you miss the level you projected price will turn at I would just recommend waiting for the next trade. Thats what I do atleast. Not all the time is it the case, but it has also saved my butt more times than I can count in heated markets!
The level looked so strong before the finish today. Now I'm not too certain it will hold.

On a different note, regarding this level. For a few hours price bounced around the 1.5845-25 range. When you have bouncing around a range so close to the level you're looking to trade, does this strengthen or weaken your outlook for the upcoming level?
  • #1,193
  • Jul 16, 2008 1:21pm Jul 16, 2008 1:21pm
usd.chf coming into resistance territory, and stochs are ob on 30min, hourly, and 4 hour TF. Of course nothing is definite, but the price action for the past couple hours has shown that the 50% retracement has held as resistance for the time being. I am risking 0.25% with a 25 pip stop from the 1.0182 level.
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  • #1,194
  • Jul 16, 2008 1:21pm Jul 16, 2008 1:21pm
Cable and euro trades.
I am also in geppy short.
  • #1,195
  • Edited 2:41pm Jul 16, 2008 1:49pm | Edited 2:41pm
Quoting djambazov84
Hmmmmm...upcoming resistance @ 1.0050 ? has been suuport and now worked as resistance on H4. Waddyasay ? It is indeed tempting though...

Yep I agree that area will be tricky. 1.0050/80 also is descending TL resistance on 4HR. I think that area will be tested this week and a break is possible at this point. Kiwi and loonie are lagging behind the rest in terms of losing ground to a mildly stronger USD. Good trades!
"Timing Is Everything. Really I Swear It Is"
  • #1,196
  • Jul 16, 2008 3:01pm Jul 16, 2008 3:01pm
Quoting BillyRayValentine
S&P up over 28 points today and tearing everything apart in terms of losses over the last day and a half. JPY 105.00 will have a hard time holding unless the market corrects now (and I mean literally now before the close). EUR trade is on the fence just be careful selling dollars all I'm saying.

That's why I generally dont recommend getting into trades after the level gets hit. If you miss the level you projected price will turn at I would just recommend waiting for the next trade. Thats what I do atleast. Not all the time is it the case, but it has also saved my butt more times than I can count in heated markets!
Good advice, I was actually thinking of asking you about that. It seems the 2nd hit just had a small bounce and then broke on through. Out at break even.
  • #1,197
  • Jul 16, 2008 3:40pm Jul 16, 2008 3:40pm
eur/usd and gbp/usd just took off ? in asia ? no way

What u say thread ? Still can get decent prices on a quick pullback say me...dunno gl all !

short yen anybody ? like NOW
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,198
  • Jul 16, 2008 6:13pm Jul 16, 2008 6:13pm
I hope everybody reloaded on 105.115 usd/jpy southbound... I basis this on my opinion that this price level now acts as short term resistance compared with the close yesterday. I hope no one can't prove me wrong so we can all profit currently flirting with 105.00 some, fight expected. Today's range is already 35.5 could be a new long leg against USD allover...

-gl all !
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,199
  • Jul 16, 2008 7:28pm Jul 16, 2008 7:28pm
Looks like everyone got their trades. Eur.Usd long at 1.5800 worked out well so far almost +50 last time I checked. My short usd.chf brought in 32 pips for me, and the short gbp.jpy netted at last +40, depending on where you got in. The short usd.jpy was another trade I was watching but did not personally enter. (two trades already betting on dollar retracing from eu long and uc short) Price hit exactly the 38.2% retracement at 105.28 and bounced down about 54 pips.....not a bad day for anyone in here who took any of these trades.
  • #1,200
  • Jul 16, 2008 9:13pm Jul 16, 2008 9:13pm
Seems to me that I totally missed on the news today and was not able to detect USD strength. Any suggestions for a reliable streaming up to date free news source like bloomberg for free (java applet maybe?). That chopped me to pieces...lesson learned but looks like the forex market is not gonna go for US bank strength tomorrow. I hope that you guys are still riding on the usd weakness.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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