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  • #1,881
  • Jul 31, 2008 8:12am Jul 31, 2008 8:12am
Quoting len979
Hi all.

I'm going to make a few calls:

SHORT gbp/usd 1.9900, stop 1.9945, TP 1.9838

SHORT eur/usd 1.5776, stop 1.5722, TP 1.5683

LONG usd/chf 1.0404, stop 1.0376, TP 1.0480
That's the one I was looking for. So far so good, but jeez the jobless numbers were bad, and the market is acting like it's NFP day. Oil hasn't exploded yet... I wonder how much the revision of GDP from the 4th quarter to a negative .2% is effecting this. Big time change there as it could mean this really is a recession.
  • #1,882
  • Jul 31, 2008 8:21am Jul 31, 2008 8:21am
finally the US economy is coming out of the woods and it seems it is not doing that well as it was originally hyped by the stupid adp payroll numbers. I expect dismal us equities session. I have been waiting for this so long. I believe that we can see some further USD downside today especially in usd/chf and usd/jpy. I am not making any calls or whatnot, just your friendly daily reality reminder

GOOD LUCK ALL !

p.s. and please smash those flame-posts and stupid quarells. WE ARE HERE TO MAKE MONEY. we are not in some ego competition, please guys, keep the general friendly, polite and kind mood going and do not distort the founding premises that brought us all here. News brings a lot of "noise" as it is. Let's stay focused and concentrated.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,883
  • Jul 31, 2008 8:27am Jul 31, 2008 8:27am
Quoting len979
Hi all.

I'm going to make a few calls:

SHORT gbp/usd 1.9900, stop 1.9945, TP 1.9838

SHORT eur/usd 1.5776, stop 1.5722, TP 1.5683

LONG usd/chf 1.0404, stop 1.0376, TP 1.0480

I should have made the calls earlier but I just woke up, and these levels are being hit as I write this post. It's not too late to enter

I also want to add.... that cable short looks strong as it's right at 38.2% fib and 100 moving average on 4hr chart. BUT remember anything is possible in forex... meaning it might or might not hold
  • #1,884
  • Jul 31, 2008 8:29am Jul 31, 2008 8:29am
Quoting matsf
Hi guys and gals,

i´m a newbie to this thread and i´m trading in a similar way.

Got a question:
As the picture shows, the s/r-level (red line) held today morning.

But how do you handle news and s/r-level.
Right now, this level broke.

Sorry if the question is already answered.
Can sb give me advice ?
Hi Matsf,

Welcome to the thread! On a trade like that following BRV's method you'd have taken partial profit when you got up to +20 pips and set the rest to break even especially with the news release due out. That way you'd have made money with a portion of your position and been taken out break even with the rest on the news spike.

Its usually best to be out of your trades around news time unless you have a decent profit buffer with which to soak up any big moves against you....I think everybody is in agreement that a news driven movement can cut through S+R levels like a knife through butter, and it can be tough to decide which one is going to hold and which one isnt.

Here's a link to a BRV post on 'trading the hype': http://www.forexfactory.com/showpost...postcount=1792

Hope that helps!

SMP
  • #1,885
  • Jul 31, 2008 8:33am Jul 31, 2008 8:33am
Thanks Grath. Actually i'm not so happy about the way i have played it out.
I've put 3 sell orders at 1.0479 and i was ready to add to the trade @ 1.0516
if it would go higher. On 2 orders i've set tp @ 1.0440 and they were missed becouse i forget about the spread so i closed them @ 1.0469 (not pretty good place). And i have moved the stop loss from the last 3rd position in a place (1.0499) where if it would be hit I would be on B/E on overall trade but now the last part is on it's way down and I'm thinking about opening short at the old support turned to resistance which is 1.0438. Lets see what will happen.
  • #1,886
  • Jul 31, 2008 8:39am Jul 31, 2008 8:39am
SMP,

thanks for your help, i appreciate it !

Hope to contribute some charts and ideas in the future !
Don´t live for working, but work for living.
  • #1,887
  • Jul 31, 2008 8:41am Jul 31, 2008 8:41am
More calls:

SHORT nzd/usd 0.7390-0.7400, stop 0.7418, TP 0.7354

LONG eur/usd 1.5470, stop 1.5444, TP 1.5574

enjoy!
  • #1,888
  • Jul 31, 2008 8:43am Jul 31, 2008 8:43am
hmm cable went on a nice stop hunting trip to 1.9928. That's why I always place my stops further away. it's easy to get stopped in forex
  • #1,889
  • Jul 31, 2008 8:44am Jul 31, 2008 8:44am
Quoting len979
More calls:

SHORT nzd/usd 0.7390-0.7400, stop 0.7418, TP 0.7354

LONG eur/usd 1.5470, stop 1.5444, TP 1.5574

enjoy!
More nice looking calls Lenny
  • #1,890
  • Jul 31, 2008 8:52am Jul 31, 2008 8:52am
Oil dropped nearly $3 over the past 20 minutes. bouncing a little, but should keep those dollar buying trades well supported for now.
  • #1,891
  • Jul 31, 2008 8:53am Jul 31, 2008 8:53am
These are the positions I closed this morning

cable short +38
usd/chf long +27
cable short +7
aud/usd short -4
usd/jpy short +62
eur/chf short +22

I'm flat at the moment. Waiting for rebounds on most of those pairs. Those moves happened too fast. In my experience, there's always a rebound after quick moves
  • #1,892
  • Jul 31, 2008 9:02am Jul 31, 2008 9:02am
I'm looking to RESHORT eur/chf 1.6354, stop 1.6385, TP 1.6258
  • #1,893
  • Jul 31, 2008 9:10am Jul 31, 2008 9:10am
Just went short eur/chf @ 1.6350.... 4 pips lower than my call. I hate to miss a trade because i'm trying to enter with pinpoint accuracy. I'll add to the short at 1.6354... if it get's there
  • #1,894
  • Jul 31, 2008 9:11am Jul 31, 2008 9:11am
Quoting len979
I'm looking to RESHORT eur/chf 1.6354, stop 1.6385, TP 1.6258
Yeah I'm in this one actually from 68...holding for now....that trade this morning about as easy as they come, nice work.
  • #1,895
  • Jul 31, 2008 9:14am Jul 31, 2008 9:14am
SHORT cable 1.9868, stop 1.9922. TP 1.9836. Will add at 1.9896.

Hourly looks very bearish with that gravestone doji
  • #1,896
  • Jul 31, 2008 9:15am Jul 31, 2008 9:15am
Quoting BillyRayValentine
Yeah I'm in this one actually from 68...holding for now....that trade this morning about as easy as they come, nice work.
thanks BRV.

I actually meant to say I'll add to eur/chf short @ 1.6364, not 1.6354
  • #1,897
  • Jul 31, 2008 9:18am Jul 31, 2008 9:18am
Quoting len979
I'm looking to RESHORT eur/chf 1.6354, stop 1.6385, TP 1.6258
I grabbed 22 pips this morning on eur/chf, but I had a feeling it would come back up because there was a 8EMA nearby on 4hr chart. There's very strong resistance here imo
  • #1,898
  • Jul 31, 2008 9:25am Jul 31, 2008 9:25am
I just want to take a second to thanks BRV for all his efforts, and to ask people to respect this thread and not turn it into anything else but a no brainer trade that educates all who read it.

Thanks for everything BRV.

Good trading everyone
  • #1,899
  • Jul 31, 2008 9:31am Jul 31, 2008 9:31am
This call has a wide range. Use your judgement to scale in

LONG aud/usd 0.9338 - 0.9290, stop 0.9262, TP 0.9460

This trade might actually take a while to work out, so be patient
  • #1,900
  • Jul 31, 2008 9:43am Jul 31, 2008 9:43am
Quoting len979
SHORT cable 1.9868, stop 1.9922. TP 1.9836. Will add at 1.9896.

Hourly looks very bearish with that gravestone doji
Closed this short @ 1.9844 +24. there's a little support on 1hour chart at 1.9840
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