I would love to trail to that !!! But am targeting .9378 .....Not too shabby.... So Far Support is holding....trend hasnt reversed......but still holding
- #2,726
- Aug 11, 2008 2:03am Aug 11, 2008 2:03am
- Joined Apr 2008 | Status: Trader | 7,674 Posts
Hmmmmm. Thanks, I'm grateful for help. But I think "gbp/usd going up, then buy. if it going down, then sell" goes against what I understand NB philosophy to be.
Correct me please if I'm wrong.
David
Hmmmmm. Thanks, I'm grateful for help. But I think "gbp/usd going up, then buy. if it going down, then sell" goes against what I understand NB philosophy to be.
Correct me please if I'm wrong.
David
Hey David,
The 'buy if going up, sell if going down' does go against what the thread is looking for (sorry Clouds - no offence meant!). We're all looking for good entry points that will provide profits with the absolute minimum drawdown. Jumping in and out of the market tends to reduce your account at a somewhat alarming rate (as I've found myself firsthand). If its charging up and I've bought, its usually at the point that the market slows and reverses, stopping me out and leaving me feeling somewhat pained.
Using S+R we're trying to pinpoint the areas where the market is likely to slow and reverse.....or at least pay us a few pips before continuing. We're looking for logical points to enter and exit the market to avoid the random entries. So what you said earlier is exactely right with regards to cable....the area 1.9336-1.9361 was a good area of support, so now its been broken, we look for it to act as resistance on the way back up and allow us to get into a sell trade with the trend.
Hope that helps!
SMP
- #2,728
- Aug 11, 2008 2:31am Aug 11, 2008 2:31am
- Joined Apr 2008 | Status: Trader | 7,674 Posts
Hey David,
The 'buy if going up, sell if going down' does go against what the thread is looking for (sorry Clouds - no offence meant!). We're all looking for good entry points that will provide profits with the absolute minimum drawdown. Jumping in and out of the market tends to reduce your account at a somewhat alarming rate (as I've found myself firsthand). If its charging up and I've bought, its usually at the point that the market slows and reverses, stopping me out and leaving me feeling somewhat pained.
Using S+R we're trying to pinpoint the areas where the market is likely to slow and reverse.....or at least pay us a few pips before continuing. We're looking for logical points to enter and exit the market to avoid the random entries. So what you said earlier is exactely right with regards to cable....the area 1.9336-1.9361 was a good area of support, so now its been broken, we look for it to act as resistance on the way back up and allow us to get into a sell trade with the trend.
Hope that helps!
SMP
- #2,729
- Aug 11, 2008 3:03am Aug 11, 2008 3:03am
Hey David,
The 'buy if going up, sell if going down' does go against what the thread is looking for (sorry Clouds - no offence meant!). We're all looking for good entry points that will provide profits with the absolute minimum drawdown. Jumping in and out of the market tends to reduce your account at a somewhat alarming rate (as I've found myself firsthand). If its charging up and I've bought, its usually at the point that the market slows and reverses, stopping me out and leaving me feeling somewhat pained.
Using S+R we're trying to pinpoint the areas where the market is likely to slow and reverse.....or at least pay us a few pips before continuing. We're looking for logical points to enter and exit the market to avoid the random entries. So what you said earlier is exactely right with regards to cable....the area 1.9336-1.9361 was a good area of support, so now its been broken, we look for it to act as resistance on the way back up and allow us to get into a sell trade with the trend.
Hope that helps!
SMP
What I appreciate most about what BRV has taught so many of us, is that it can be used in more than one way.
While this is true, I've also been able to use what I've learned from BRV to find great entries into strong trends (like this past week). Support turning into resistance was invaluable to me, and this thread helped me pinpoint such entries. I was able to tear it up the last two weeks simply because I used s/r levels to get in and out with the trends.
What I appreciate most about what BRV has taught so many of us, is that it can be used in more than one way.
With S+R you can scalp against the trend as well as get great entries to trade with it! As you say, what BRV has taught us has many different applications.
SMP
- #2,734
- Edited 8:42am Aug 11, 2008 7:59am | Edited 8:42am
- Joined Apr 2006 | Status: Trader | 1,459 Posts
