No Brainer Trades

Quoting BillyRayValentine

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Here's a pattern that happens all the time and is very important for taking advantage of a lot of buying and selling opportunities. You'll notice that when price makes a "U" formation at a turning point there will commonly be a base built within it. Think of it as a cup, where the bottom inside the cup acts as a potential turning point for price. To make the most out of these you would want to scale down to smaller timeframes in order to pinpoint the exact bottom of the cup formation.

If the base of this cup lines up with historical support or resistance all the better. Many times you will see the "stabby" bars in trends get nulled and price will turn at these bases. It happened today on EUR, for instance.

If you take a look at your charts you're going to find them everywhere. They happen over and over again; I look at them very frequently.

Below are some recent examples on EUR and GBP.

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Quoting BillyRayValentine

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Here's a pattern that happens all the time and is very important for taking advantage of a lot of buying and selling opportunities. You'll notice that when price makes a "U" formation at a turning point there will commonly be a base built within it. Think of it as a cup, where the bottom inside the cup acts as a potential turning point for price. To make the most out of these you would want to scale down to smaller timeframes in order to pinpoint the exact bottom of the cup formation.

If the base of this cup lines up with historical support or resistance all the better. Many times you will see the "stabby" bars in trends get nulled and price will turn at these bases. It happened today on EUR, for instance.

If you take a look at your charts you're going to find them everywhere. They happen over and over again; I look at them very frequently.

Below are some recent examples on EUR and GBP.

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Quoting CodeMuncher

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1) click on manage attachments

2) upload the chart file

3) click on the paperclip icon

4) click on the filename and it will insert the "code" into your post.

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Quoting eagle_eye

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hi im trying to download the pdf on post 1 but an error message comes up. im able to open other pdf documents. am i the only one experiencing this problem? cheers

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Quoting pj9100

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Codeguru,

Your interpretation of the NBT techniques graphically is quite helpful. I am not a techie . I want to post a few charts of my s/r positions. Is there is any MT4 indicator or other easy tool to screen capture the shots quickly? Will appreciate any links.

Thanks again for enhancing the value of this thread. However, I must say I was quite disappointed that you provided a skeleton indicator without any soul.

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Quoting loudoniii

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Hi Len / birdt / et al

Further to recent discussion of the Cup / Bucket formations to which BRV introduced us this week, I've been looking at the Euro (EUR/USD) yesterday, as follows:

1. Review 5-min Euro chart for Thursday 21 August, and mark up the 4 major cup formations that are pretty obvious on the runup that day. For the moment, I am considering only those cups that are the right way up.

2. Use a couple of lines, usually no more than 2 PIPs apart, to mark out the bottom of the cup - let's call these "cup bottoms" for want of a better name.

3. Use these cup bottoms as S+R zones when trading the next day.

4. Note the good short (red circle) and long (blue circle) entry opportunities on Friday 22 August.

This is a very simplistic way to approach trading cup formations, I guess, but it certainly works. In this simple example, I've only included those cups that are the right way up, ie bottom at the bottom.

In real life, cups occur both right way up and inverted. Right way up, cup bottoms form Support zones; inverted, cup bottoms work as Resistance zones. As do classic BRV S+R zones, cup bottoms appear to change polarity once broken, ie a broken Resistance zone becomes a Support zone once price has closed over it, as normal - and vice versa.

In practice, you can mark up new cups as they form on the day itself, to enable more accurate entries, and to take advantage of new cups that form that day.

When cup bottoms are hit near a classic BRV S+R level, and/or around a key Fibo retracement zone (say 61.8% - 76.4%), they can be quite strong entry indicators, I find.

See what you think.

Cheers, Loudoniii

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Quoting faq123

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I'm not too sure why this works but it does, try downloading the file using Firefox.

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Quoting faq123

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Hi,

Do you mean this?

Right click on your chart and you will get a floating menu. Near the bottom of that menu you will see the item "Save As Picture". Select it and you will get several save options. Save it as an Active Chart which allows you to save it as a gif file.

Hope that helps.

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Quoting len979

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eur/usd moving like molasses, but bleeding all the same. Still short @ 1.4813 and 1.4840. Should have stuck with usd/jpy or gone with swissy instead

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