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  • #1,701
  • Jul 28, 2008 8:23pm Jul 28, 2008 8:23pm
GBPUSD Short @ 2.0005

Bounced from this area hard on 07/01, I guess should give reaction at least one more time, if I am wrong, BRV please correct me.
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  • #1,702
  • Jul 28, 2008 8:24pm Jul 28, 2008 8:24pm
Long GBP/USD 1.9800-1.9792

I know GBP gets discussed a lot here so forgive me if I'm reposting anything. Please shoot me a PM if you already "officially" called this but I dont think anyone has yet.
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  • #1,703
  • Jul 28, 2008 8:27pm Jul 28, 2008 8:27pm
Quoting aerio
GBPUSD Short @ 2.0005

Bounced from this area hard on 07/01, I guess should give reaction at least one more time, if I am wrong, BRV please correct me.
No I think you're right, I picked this out a few minutes ago....my only concern was that there might be a stronger hold just about 20 pips higher, at the high of that range....if you draw a line at 2.0029 about you'll see what I mean.
  • #1,704
  • Jul 28, 2008 8:40pm Jul 28, 2008 8:40pm
Quoting BillyRayValentine
Sell AUD/USD 0.9668-0.9676

We're pros now. No need for comments .
What am I missing here, I don't see any significant resistence at this level. What did I miss here?
  • #1,705
  • Jul 28, 2008 8:58pm Jul 28, 2008 8:58pm
endroute, it's resistance that has also acted as support at least a couple of times.
  • #1,706
  • Edited 9:22pm Jul 28, 2008 9:18pm | Edited 9:22pm
Quoting endroute
What am I missing here, I don't see any significant resistence at this level. What did I miss here?
Use a 4hr chart ...or 1hr and look back to June 30 -- July 4 dates. Also 50% fib of July 9 low to July 15 high.
  • #1,707
  • Jul 28, 2008 9:23pm Jul 28, 2008 9:23pm
Quoting Lou
Use a 4hr chart ...or 1hr and look back to June 30 -- July 4 dates.
Thank you.
  • #1,708
  • Edited 11:10pm Jul 28, 2008 9:30pm | Edited 11:10pm
Hi Brv,

I had one question on how you manage multiple trades. Do you place alerts on trading platform or just limit orders? What I noticed is that critical levels on different pairs are hit at about the same time, hence need for prioritization on specific trades. Do you place big size on particular pair or just divide your resources equally among pairs?
Thx.Aerio
  • #1,709
  • Jul 28, 2008 9:52pm Jul 28, 2008 9:52pm
Quoting BillyRayValentine
No I think you're right, I picked this out a few minutes ago....my only concern was that there might be a stronger hold just about 20 pips higher, at the high of that range....if you draw a line at 2.0029 about you'll see what I mean.
Hi Billy Ray,

Thanks for sharing your common sense approach with us.
I saw this on the NZDUSD 4h, resistance at 0.7473 with a fib ret at 0.7474, price is getting close, not sure if the 23.6 ret level can be counted on though. Whats your thoughts on 23.6 retracement levels in general BRV?
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  • #1,710
  • Jul 28, 2008 10:12pm Jul 28, 2008 10:12pm
Hello everyone, I've been lurking around FF for a while now and learning a lot. Finally decided to register so that I can get involved. BRV and everyone else contributing to this thread, I can't believe how much I am learning just through other's discussions. Just wanted to say thanks! I have a feeling I'll be hanging around for a while.
  • #1,711
  • Jul 28, 2008 10:39pm Jul 28, 2008 10:39pm
Quoting aerio
Hi Brv,

I had one question on how you manage multiple trades. Do you place alerts on trading platform or just limit orders? What I noticed is that critical levels on different pairs are hit at the about the same time, hence need for prioritization on specific trades. Do you place big size on particular pair or just divide your resources equally among pairs?
Thx.Aerio
Yes, the ones I have the most conviction on I go bigger in size, and then distribute the rest of the trades according to the amount of total risk I'm willing to put on at any given point in time.

You're right, alot of times these levels will get hit almost all at once across many different pairs, so if one doesn't work out, none of them might, so I keep this in mind. I dont like surprises. I use alerts mainly, but if I know I'm not going to be around and only if I'm expecting a sizeable move, I'll use limit orders.
  • #1,712
  • Jul 28, 2008 10:42pm Jul 28, 2008 10:42pm
Quoting bluesbrother
Hi Billy Ray,

Thanks for sharing your common sense approach with us.
I saw this on the NZDUSD 4h, resistance at 0.7473 with a fib ret at 0.7474, price is getting close, not sure if the 23.6 ret level can be counted on though. Whats your thoughts on 23.6 retracement levels in general BRV?
Hi bluesbrother, no problem....the 23.6 retracement in general I dont pay a lot of attention to becuase, generally speaking, trend reversals are still in their infancy stages at this point......I was actually looking at what you mentioned above though and was planning to use it (I had .7482 though) not because of the retracement, though, but because of the obvious resistance level there.
  • #1,713
  • Jul 28, 2008 11:14pm Jul 28, 2008 11:14pm
I'm liking some of these setups, it is end of month flows along with heavy data weeks end so we may get the entries soon.
  • #1,714
  • Jul 29, 2008 12:13am Jul 29, 2008 12:13am
At least five pairs I monitor are forming wedges. 4 hr, daily, weekly. They are everywhere.

Patience and discretion are required.
"Timing Is Everything. Really I Swear It Is"
  • #1,715
  • Jul 29, 2008 12:21am Jul 29, 2008 12:21am
hi ctrlaltdel,you are welcome to the no brainer trades setup,hope you have a nice time,and ensure you go through the post to have a complete orientation on how we operate,keep it simple
  • #1,716
  • Jul 29, 2008 12:51am Jul 29, 2008 12:51am
Quoting endroute
What am I missing here, I don't see any significant resistence at this level. What did I miss here?
1984.03.01
  • #1,717
  • Jul 29, 2008 2:58am Jul 29, 2008 2:58am
I am new and getting set to start , would like to follow what you are watching.Cheers Cdm[
quote=TexasforEX;2133740]At least five pairs I monitor are forming wedges. 4 hr, daily, weekly. They are everywhere.

Patience and discretion are required.[/quote]
  • #1,718
  • Jul 29, 2008 3:13am Jul 29, 2008 3:13am
Quoting BillyRayValentine
Sell AUD/USD 0.9668-0.9676

We're pros now. No need for comments .
Hi BRV i can see the short on the USD/CAD, but the AUS/USD i can not. have a look at the daily chart im pretty sure it is very close to mayjor support around 9520-9480, what do you think?
  • #1,719
  • Jul 29, 2008 3:26am Jul 29, 2008 3:26am
Quoting Tulip
Hi BRV i can see the short on the USD/CAD, but the AUS/USD i can not. have a look at the daily chart im pretty sure it is very close to mayjor support around 9520-9480, what do you think?
Hi tulip, did you look at the chart I posted? Also in the past page there has been a few comments in regards to the level - to clarify guys there is a good amount of resistance right up to .9684; looking at the last wave you'll be able to see it.....I was looking at this tonight and I'm going to modify the range on it right now.....Tulip, daily charts work okay in some circumstances but not for the majority of how we identify these levels. Usually start with 4hr and confirm on a 1hr.
  • #1,720
  • Jul 29, 2008 3:42am Jul 29, 2008 3:42am
Quoting BillyRayValentine
Hi tulip, did you look at the chart I posted? Also in the past page there has been a few comments in regards to the level - to clarify guys there is a good amount of resistance right up to .9684; looking at the last wave you'll be able to see it.....I was looking at this tonight and I'm going to modify the range on it right now.....Tulip, daily charts work okay in some circumstances but not for the majority of how we identify these levels. Usually start with 4hr and confirm on a 1hr.
Thanks BRV, love your thread keep up the good work!
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