No Brainer Trades

Hi All,

GBP may be setting up for a long position right now. Broken resistance @ 1.8610-20 and now retesting it. If it holds we should go up from here. My target is 186.97

Major news in an hour might have to wait for that

for news... agreed. also i would wait for break of trendline.

Ucad

v2 looks like something I want to use. My MT4 is linked to Alpari. I haven't yet found a way of downloading history with more than about 2,500 records. I would like to be able to play with the H4 historical data for the majors going back at least a few years,even if 30 years is not attainable. Is it possible to acquire the data using MT4's history facility somehow?

Thanks
David

Usd/chf

GBP is bound to fall down to 1.7 area. it has no strenght at all!

The bar close was above the open according to your chart. Shorting on a green H1 bar is not usually a profitable trade.

Long 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.

Short eur/jpy 161.74, stop 162.08, TP 158.99 .... swing

Hi Len, the trades that you have called are against the philosophy of brv. Or not?
UC should reverse and EJ should go long, according to BRV and a weekly chart commo sense.
Correct me if I'm wrong.
I'm not saying that your short swings are wrong, but just that they are not correct in the contest of this thread.
This is what I have understood from BRV up to now and apologies if this is not the case.
Max

someone please tell me the eurusd is going to come back down!

These trades are right in line with BRV's philosophy. usd/chf is at support and eur/jpy is at resistance. The reason I decided to average swissy at 1.0854 is because there's another level of support there

Hi David !

It's dead easy - you don't even need to use the History facility in MT4 to get historical OHLC data. All I did was the following:

1. Go to Tools / Options / Charts and set Max Bars In History and Max Bars In Chart fields to a very large figure, in my case to 100000000 in each case. I'm sure this is larger than necessary but it seems to work to ensure that it loads the maximum data available.

2. Use File / Save As to save the OHLC data as a CSV file - this contains the date as Comma-Separated Variables in the format Date, Time, Open, High, Low, Close, Volume for each candle, eg one per day for Daily, one each 4 hours on the 4-hr chart, etc.

3. Throw away Volume and save the data as an Excel Spreadsheet, ready to analyse as one wishes.

My MT4 broker is ODL Securities Ltd (www.odlsecurities.com) in London, UK and I am just using a normal free demo account to access the historical OHLC data (I trade in a separate trading station account). I think most if not all MT4-based brokers operate in the same manner, though some may make available different amounts of historical data.

Depending on the candle time period, one obtains different amounts of date using the above method. For example, Daily OHLC data for 30 years, 4-Hour data from 1999 to the present day, and so on.

If you wish, you can simply load the Excel spreadsheet obtained from Stage 3 above directly into an Access database using the standard Acess wizard. Then you can use all of Access's standard query and report facilities to run reports, calculate spikes, analyse spike sizes, whatever.

Or, using the initial standard Excel worksheet, do some simple calculations like Spike Size and PIP Separation between levels, then load the data into Access and run your queries and reports. I have a sample Excel spreadsheet I put together that I am willing to share if you or anyone else is interested (just drop me a PM as Forex Factory won't let me post it since it's too big).

This is pretty crude stuff from an IT point of view, but it does get you access to decades' worth of OHLC data on the basis of which to do some interesting analysis. I'm still playing around with it and will post the results if I find anything interesting.

This isn't an idle exercise on my part. I am trying to answer some real S+R trading questions I have, eg why didn't I see the turnaround levels on Cable, Euro, EJ (EUR/JPY), etc this afternoon (UK time) ?!?

I had 1.1007 marked on the Swissie as an S+R level, and it shorted off there for almost 100 PIPs.

However, Cable bounced up 135+ PIPs off 1.8535, the Euro bounced up 140+ PIPs off 1.4630, and the EJ bounced up 70+ PIPs off 161.29.

None of these S+R levels I had predicted, I am sorry to say, so "Why not ?" is one question I am trying to answer.

Hope this helps.

Cheers, Loudoniii

Euro may be worth at shot at 1.4816 (short) if it gets there, the line has some history.

I found this on another thread. I hope it helps.
This is a fantastic thread have yet to read it all.

Stopped out of eur/jpy long @ 162.22

Thanks for posting.

$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 days

Len, thinking of going long USD/ JPY here, ..thoughts?