No Brainer Trades | Page 155 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD, USD/CHF, USD/JPY

Similar Threads

No brainer fundamental trades 55 replies

This time... I'm Keeping MY MONEY (BRV - No Brainer Trades) 3 replies

The Koala System (No brainer) 127 replies

EUR/GBP SHORT for No Brainer 67 replies

Selling USD and YEN is a no brainer. 12 replies

Attachments: No Brainer Trades
Exit Attachments

No Brainer Trades

  • #3,081
  • Aug 19, 2008 12:46pm Aug 19, 2008 12:46pm
Quoting Minka
I found this on another thread. I hope it helps.
This is a fantastic thread have yet to read it all.
Minka,

Thank you.
  • #3,082
  • Aug 19, 2008 12:51pm Aug 19, 2008 12:51pm
Quoting len979
$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

thanks for sharing your thoughts

i would like to see how you come to this conclusion... do you have any charts to share? or perhaps an explanation. it would be great for me to see and hopefully understand the basis for your prediction.
Just focus on the pips. The rest is insignificant.
  • #3,083
  • Aug 19, 2008 12:53pm Aug 19, 2008 12:53pm
Quoting seesaw
Len, thinking of going long USD/ JPY here, ..thoughts?
I would start buying usd/jpy @ 109.30 and average again @ 108.50. It looks like it's going up in a nice staircase formation. I see major resistance at 113.25
  • #3,084
  • Aug 19, 2008 12:57pm Aug 19, 2008 12:57pm
Quoting len979
I would start buying usd/jpy @ 109.30 and average again @ 108.50. It looks like it's going up in a nice staircase formation. I see major resistance at 113.25

Actually good thinking, this is where I was headed as well. Looks like we were having a nice staircase formation but the past one hour seemed like a small reversal to me.

Long EUR/USD here until 48.10. Scalping a few pips.
  • #3,085
  • Aug 19, 2008 2:13pm Aug 19, 2008 2:13pm
Hey I am just taking a look at this system and wanted to make sure I am looking at things the right way :-). The following are the charts that I am currently looking at.

I just wanted some confirmation that I am indeed looking at the right setups...

Thanks guys and sorry for the noob question...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCAD-H4.jpg Size: 77 KB
Click to Enlarge Name: GBPUSD-Daily.jpg Size: 58 KB
Click to Enlarge Name: USDCHF-H4.jpg Size: 65 KB
Attached Images
  • #3,086
  • Aug 19, 2008 5:08pm Aug 19, 2008 5:08pm
Quoting len979
I would start buying usd/jpy @ 109.30 and average again @ 108.50. It looks like it's going up in a nice staircase formation. I see major resistance at 113.25
I just noticed today that there are some major options at the 109.35 strike for expiry tomorrow (350mm) and at 109.50 (800mm) for thursday. There might be some interest to keep price above those marks in the time being; close call made today though.

109.32 and 109.10 are the next major levels I have in terms of buys - There's also a supply diagonal trendline visible from the 4hr.
  • #3,087
  • Aug 19, 2008 5:12pm Aug 19, 2008 5:12pm
Quoting CindyXXXX
Hi Billy Iron man or any other pros out there - Just have a question regarding intra day scalping...

I understand the workings or trading levels that have been support turned resistance vice versa but what about plain levels of support that have been broken - Is it safe to trade these?

Here is an example on the pound yen - Would this be a valid short at the previous support that was broken (which also happens to be yesterdays low)?

I notice on the 4hr timeframe these seem to be more consistant.

Just a little confused I read the instructions at the start of the thread and it says that we are looking for turning points that have been used at least twice... Preferably as both S and R

But then in the section on scalping it seems that you are trading each level of broken resistance as support, and each level of broken support as resistance.

Just a little confused

Cheers
Hi Cindy, on an intraday basis exactly what you said was right - you just want to look for the broken support turned resistance or the other way around. GJ has tendencies to overshoot, but either way if taken exactly at this level it was good for over 100 pips today. You didnt say anything I wouldnt say myself. No confusion needed .
  • #3,088
  • Aug 19, 2008 5:16pm Aug 19, 2008 5:16pm
Quoting djambazov84
BRV, Hey welcome back and a nice way to deal with messy forum stuff !

Now, on topic, I know patterns/diagonal TLs are next to none when making a discretionary decision here, however would you consider USD/CAD moving in a bullish flag oh H1 ?

Something to ponder upon
Hi djambazov, Im honestly not a regular user of price patterns like this as I have seen many of these provide a lot of false signals in the past, so I unfortunately dont have too much to comment on here in regards to this. I can tell you that I was looking for a breakdown into the early 1.05's or lower before I started really buying again, though, just based on the current movement we have here; also now looking for a pop upwards on that diagonal resistance moving down.
  • #3,089
  • Aug 19, 2008 5:52pm Aug 19, 2008 5:52pm
Quoting CindyXXXX
Was there anything wrong with this trade? Went short at 1.8608 and stopped out for -21

Seems every trade I don't take wins and every trade I take loses
Paralyzed Trading
In regards to your comment: “Seems every trade I don't take wins and every trade I take loses

This is a big problem with a lot of traders.

My only advice for this is too keep on going and forget about the losers FAST and worry about what’s coming next.

We had one trader where we had to move a losing position into another account for him because it was messing with his head so much he was starting to fault on newer trades. That’s why I like to stress closing losers promptly and moving onto the next trade in order to minimize any blows from bad positions. Losses happen; how quickly you pick up from them and get back in the drivers seat is another story. Patience, patice patience and keep the ball rolling. Have a plan and keep it in place.
  • #3,090
  • Aug 19, 2008 6:02pm Aug 19, 2008 6:02pm
Long GBP/USD - 1.8615-1.8597
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 17 KB
  • #3,091
  • Aug 19, 2008 6:09pm Aug 19, 2008 6:09pm
Hi Billy,

How do you handle the case where price falls down to a support line and then just stalls and starts moving sideways? Assuming you had a long trade there, do you hold it to see if price will eventually start moving back up (and risk hitting your full 40 pip stop if it doesn't) up or do you close it right away for either a small gain or loss? I'd post a chart but I'm at work right now and can't, however you can see this exact scenario right now on the 1hr USDCHF.
  • #3,092
  • Aug 19, 2008 6:39pm Aug 19, 2008 6:39pm
Quoting ocelot
Hi Billy,

How do you handle the case where price falls down to a support line and then just stalls and starts moving sideways? Assuming you had a long trade there, do you hold it to see if price will eventually start moving back up (and risk hitting your full 40 pip stop if it doesn't) up or do you close it right away for either a small gain or loss? I'd post a chart but I'm at work right now and can't, however you can see this exact scenario right now on the 1hr USDCHF.
In one of BRV's earlier posts he explains that this behaviour is NOT what is wanted. These levels should create action when they are hit. The best ones will react immediately. But some will take a little time before reacting properly. However, lingering in the area is a bad sign. It might resolve for you, or it might not.

There is nothing that specifically defines how long to wait. In my opinion, this can be different for different pairs. Also, I would advise considering what you are seeing relative to any pending news.

I don't know enough to advise you beyond this. Perhaps BRV will chime in with more guidance when he shows up again. But BRV would surely tell you that there are ALWAYS other opportunities coming, so don't get trapped in your thinking. A small loss or breakeven will allow you to survive until something more cooperative comes along... In the end, you have to evaluate your own risk tolerance... And that is a sword that cuts both ways no matter where you stand on that spectrum.

I'm NOT advising you to sell OR hold. Understand? I don't know you, and I can't evaluate your account, trade size, tolerance, etc... And even if I did, I don't think I'd ever want to be held reponsible for your trade decisions. Nevertheless, I hope I've shared something of value.
  • #3,093
  • Aug 19, 2008 7:05pm Aug 19, 2008 7:05pm
Morning,

Just woke up and placed a trade on cable 18675 short on this and looking for a bit of a retrace off the R levels above. Maybe even a nice ride down if 18500 breaks with any conviction.
Attached Image (click to enlarge)
Click to Enlarge Name: pa55.gif Size: 36 KB
  • #3,094
  • Aug 19, 2008 7:25pm Aug 19, 2008 7:25pm
Quoting pipeye
Long GBP/USD - 1.8615-1.8597
Hi,
I'm quite a novice in spotting no-brainers, but can't understeand your call.
Wasn't your level just broken a while ago with almost no reaction on price action?

In other hand there is something looking as nice resistance @ 1.8515 on the same pair. [Last time it was good resistance in Jan and feb 2005 than may 2005, jul and oct 2006.

Against this support - if I understeand corectly - is latest price action:
19.08.08 7:00 GMT on 1H chart there is price bouncig from 20 pips above proper resistance level - what [please correct me if I'm wrong] makes suport quite weak and possible to be broken.

I'm new in that method, so post just to be corrected or for your further explanations.
thanks.
  • #3,095
  • Edited 8:00pm Aug 19, 2008 7:40pm | Edited 8:00pm
I'd like also some confirmation or comment for short call on GU
I mean - did I spot it correctly, or it's sth wrong with
short GBPUSD @ 1.8785
If some pro confirm - it can be added to performance

PS. As no one answer me yet - what does it mean that level was used and abused?
And the second - will all track calls showed here, or should I check with
http://sites.google.com/site/nobrainertrades/
thx


http://i37.tinypic.com/2hs4sh0.jpg
  • #3,096
  • Aug 19, 2008 7:47pm Aug 19, 2008 7:47pm
Quoting Qman
In one of BRV's earlier posts he explains that this behaviour is NOT what is wanted. These levels should create action when they are hit. The best ones will react immediately. But some will take a little time before reacting properly. However, lingering in the area is a bad sign. It might resolve for you, or it might not.
Thanks for the response Qman. I figured this question had been answered previously, but I couldn't recall where it was (I've read through the whole thread at least twice). The rationale makes sense, immediate bounces are going to give us bigger pips, otherwise it's a wait to see if price grinds itself in our favor. Like you said, better just to get out and wait for the next opportunity.
  • #3,097
  • Aug 19, 2008 9:38pm Aug 19, 2008 9:38pm
I'm considering a short of this pair in the area 96.25 - 96.43. Possibly a long as well at 95.00. Thoughts from anyone on this?
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 8 KB
  • #3,098
  • Aug 20, 2008 12:55am Aug 20, 2008 12:55am
Quoting len979
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.
Just closed this trade flat because of that red candle and doji on daily, plus it looks like there was a close below support at 1.0918 on the 4hr.
I'm still bullish on the $USD.... just looking for a better entry. I'll buy again at 1.0850's
  • #3,099
  • Aug 20, 2008 1:39am Aug 20, 2008 1:39am
Quoting Qman
In one of BRV's earlier posts he explains that this behaviour is NOT what is wanted. These levels should create action when they are hit. The best ones will react immediately. But some will take a little time before reacting properly. However, lingering in the area is a bad sign. It might resolve for you, or it might not.

There is nothing that specifically defines how long to wait. In my opinion, this can be different for different pairs. Also, I would advise considering what you are seeing relative to any pending news.

I don't know enough to advise you beyond this. Perhaps BRV will chime in with more guidance when he shows up again. But BRV would surely tell you that there are ALWAYS other opportunities coming, so don't get trapped in your thinking. A small loss or breakeven will allow you to survive until something more cooperative comes along... In the end, you have to evaluate your own risk tolerance... And that is a sword that cuts both ways no matter where you stand on that spectrum.

I'm NOT advising you to sell OR hold. Understand? I don't know you, and I can't evaluate your account, trade size, tolerance, etc... And even if I did, I don't think I'd ever want to be held reponsible for your trade decisions. Nevertheless, I hope I've shared something of value.
I couldn't have said it better! Most times if a pair does not react relatively quickly (1 - 4hrs), it's usualy a bad sign and I'll just close the trade and move on to the next one. I was in that same exact long swissy trade but I was getting a bit uncofortable with it, so I closed it flat.

There's always a trade waiting around the corner, and if not just be patient... it will show up.
  • #3,100
  • Aug 20, 2008 2:08am Aug 20, 2008 2:08am
I am loving a long within this range 104.33-1.0277 (Most specifically 3 buy orders at 104.33,103.47 [I think this one is the money] and 102.77 respectively)

+Lemming
19 traders viewing now