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  • #3,541
  • Sep 11, 2008 8:01pm Sep 11, 2008 8:01pm
So what does it mean for the dollar when oil went down and gas goes up. Huge divergence on the day between crude ($100) and gasoline (Over 4.11 today, I hope you filled up!!). . . . Is this a strong dollar or weak dollar setup?

thoughts?
  • #3,542
  • Sep 11, 2008 11:43pm Sep 11, 2008 11:43pm
Quoting lemmingboiv2
So what does it mean for the dollar when oil went down and gas goes up. Huge divergence on the day between crude ($100) and gasoline (Over 4.11 today, I hope you filled up!!). . . . Is this a strong dollar or weak dollar setup?

thoughts?
i hope its a strong dollar. been praying it to get stronger.
  • #3,543
  • Sep 11, 2008 11:50pm Sep 11, 2008 11:50pm
Quoting lemmingboiv2
So what does it mean for the dollar when oil went down and gas goes up. Huge divergence on the day between crude ($100) and gasoline (Over 4.11 today, I hope you filled up!!). . . . Is this a strong dollar or weak dollar setup?

thoughts?
gas pices are up because of the hurricane hitting the Texas coast , location of refineries
  • #3,544
  • Sep 12, 2008 4:18am Sep 12, 2008 4:18am
In keeping with an S/R trigger if the eur usd reaches the 1.42 region before dropping again. On a 4 hr chart I see either the 1.422 price as a trigger short or the 1.4196 price.
What would be the criteria to use to decide which or perhaps to decide neither?
I am only demo trading this idea until I have mastered some level of understanding / confidence.


Rob
Attached Image (click to enlarge)
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  • #3,545
  • Sep 12, 2008 4:58am Sep 12, 2008 4:58am
Quoting birdt
My feeling is that EURUSD has moved way too far in too short a time, there must be a reaction - which is a dangerous thought because it leads me to attempt to pick bottoms.
Yes, it is never good to try and pick bottoms!
  • #3,546
  • Sep 12, 2008 4:59am Sep 12, 2008 4:59am
Looking to this area on USDCAD for a TP/bounce. Not the most significant of levels but I reckon it should be alright at least for a few pips. Good confluence of 78.6 fib and round number adds impetus to the argument.

I detect a reversal on the cards looking at the higher time frames, or at least a wrapping up of some positions by the big guns so my immediate bias on this pair is bearish despite the obvious tendency for the dollar to beat up all the other kids lately. So these could well be basement prices and if you have the stomach for it, it could be a profitable play to get in some positions (short in respect to USD /xxx, long xxx/USD and xxx/JPY) from resistance/support (respectively) and let them run a while.
Attached Image (click to enlarge)
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  • #3,547
  • Sep 12, 2008 9:39am Sep 12, 2008 9:39am
Plan the trade, set alerts - trade the plan.
Attached Image (click to enlarge)
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  • #3,548
  • Sep 12, 2008 11:57am Sep 12, 2008 11:57am
Quoting Pecs200
No worries mate

I'm a little new at this so yeah, it would be nice to get some opinions from any more experienced traders
Looks like you were spot on (give or take 10 pips) ..... +500 pips after bouncing off 147.49 !

Nice one Pecs200
  • #3,549
  • Sep 12, 2008 12:05pm Sep 12, 2008 12:05pm
I mean that is what you have to do to succeed. . . that is analysis!

So who thinks the EURO has the juice to get back to 4353 before market close ? (Keep in mind its not just the bulls pushing it up towards the end, the bears will be collecting profits thus weakening the down push.....That being said those who were bulls today could also take THEIR profits)

If it does that would make it a neutral week with a solid rejection of the .38 support line. . . which would be a strong indicator that we MAY be at the end of the down trend. . . . Only sundays knows what sunday will bring, but I will be eyeing this level closely! (However seeing as it has to push through heavy resistance at 4225 I am not so hopeful. . . . )
  • #3,550
  • Sep 14, 2008 5:42am Sep 14, 2008 5:42am
Previous S/R at 1.7982ish on GU, I'm looking for a rejection of some description at that point.....
  • #3,551
  • Edited 11:33am Sep 14, 2008 9:37am | Edited 11:33am
Hi All,

I have a question for anyone using MT4 charts with a seperate broker.

I currently have a small account with Interbank fx and I am looking to open a larger account with ether Oanda or Dukascopy as i dont trust my currect broker with a large account. I like the MT4 charts and I want to continue to use them, however I am worried that It will be difficult to keep track of orders when following s/r levels because i enjoy being able to see them visually on the MT4 charts instead of a bunch of numbers in a column.

Does anyone have any experience or advice with this situation?

Thanks
  • #3,552
  • Sep 14, 2008 2:03pm Sep 14, 2008 2:03pm
Quoting Someone
Hi All,

I have a question for anyone using MT4 charts with a seperate broker.

I currently have a small account with Interbank fx and I am looking to open a larger account with ether Oanda or Dukascopy as i dont trust my currect broker with a large account. I like the MT4 charts and I want to continue to use them, however I am worried that It will be difficult to keep track of orders when following s/r levels because i enjoy being able to see them visually on the MT4 charts instead of a bunch of numbers in a column.

Does anyone have any experience or advice with this situation?

Thanks
Hi Someone,

I'm using MBT as my broker and they don't offer any usable charts. (but beside that, they're great!) That is why I use InterbankFX's demo of MT4 for charting and it works just fine.
  • #3,553
  • Sep 14, 2008 2:22pm Sep 14, 2008 2:22pm
Hi,

I would appreciate if someone could help me with these two questions:

1) If I scale in to my position on EUR/USD at 1.4055 and 1.4040 and if I decide to have a 20 pip stop loss, where should I put it? Do I set a stop loss at 1.4035 for my first position and a stop loss at 1.4020 for my second position, or do I put one stop loss (1.4035) for both of these positions?

2) What is your risk percent per trade for intra-day (near-term) trades and what is your risk percent for "no brainer" (longer-term) trades?

I was thinking of (for starters) setting 1% for intra-day and 2% for the no-brainer trades. And if get consistent enough, I would change that to 2% and 3% respectively.

Thanks!
  • #3,554
  • Sep 14, 2008 2:39pm Sep 14, 2008 2:39pm
major usd pairs looks to be sitting on noticable levels
(all red lines below are 'old' ones, have been seen week+ ago)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 22 KB
Click to Enlarge Name: eurusd.gif Size: 23 KB
Click to Enlarge Name: gbpusd.gif Size: 22 KB
Click to Enlarge Name: nzdusd.gif Size: 23 KB
Click to Enlarge Name: usdchf.gif Size: 20 KB
  • #3,555
  • Sep 14, 2008 8:23pm Sep 14, 2008 8:23pm
Hi, i am newbie here but i have been following this trade for about a week, i am a big fan of S/R and Trendline and thank you so much BRV, Ironman and others who have contributes to this thread...

well, i have one question, what do this method uses to pull the trigger?? do you just set a limit at the resistence and wait for the price to retrace or do you wait for somehing like a candle pattern confirmation before entering the trade (my current sistem ^^) ?

and here is the chart of AUD/USD, seems like a good time to short based on NO BRAIN system?

http://www.forexindo.com/forum/image...db8ddd1593.gif

Thanks alot and sorry for my poor english

Alex
  • #3,556
  • Sep 14, 2008 9:30pm Sep 14, 2008 9:30pm
S/R not nearly solid enough for me..I like very clear S/R signals..some look to me to be consolidation/continuation. I would wait for a better set up...

Quoting alex2412
Hi, i am newbie here but i have been following this trade for about a week, i am a big fan of S/R and Trendline and thank you so much BRV, Ironman and others who have contributes to this thread...

well, i have one question, what do this method uses to pull the trigger?? do you just set a limit at the resistence and wait for the price to retrace or do you wait for somehing like a candle pattern confirmation before entering the trade (my current sistem ^^) ?

and here is the chart of AUD/USD, seems like a good time to short based on NO BRAIN system?

http://www.forexindo.com/forum/image...db8ddd1593.gif

Thanks alot and sorry for my poor english

Alex
  • #3,557
  • Sep 14, 2008 11:55pm Sep 14, 2008 11:55pm
Quoting bradman
Yes, it is never good to try and pick bottoms!
Hey,
Sorry but I thought S/R was all about picking tops and bottoms???
Rgds
Stew
  • #3,558
  • Sep 15, 2008 12:42am Sep 15, 2008 12:42am
Quoting stewrigh
Hey,
Sorry but I thought S/R was all about picking tops and bottoms???
Rgds
Stew
Well in a way it is they just mean that its safer to go with the trend not against it...
Time hides Nothing
  • #3,559
  • Sep 15, 2008 12:59am Sep 15, 2008 12:59am
Where are the senior guys BRV, Ironman, etc.

It is quite time that we hear from them. One thing I would recommend, if anybody can make a video on explaining the method will greatly aid newbies like me.

I hope to hear from them soon.


thx
  • #3,560
  • Sep 15, 2008 2:34am Sep 15, 2008 2:34am
I'll be looking for initial support around .8125 and .8097

James
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