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  • #3,781
  • Sep 26, 2008 5:48am Sep 26, 2008 5:48am
is USD/JPY long good right now ?

or are we expecting a breakout ?
  • #3,782
  • Sep 26, 2008 6:18am Sep 26, 2008 6:18am
Quoting lumesh
is USD/JPY long good right now ?

or are we expecting a breakout ?
Trust thine instincts - it took off!
  • #3,783
  • Sep 26, 2008 6:21am Sep 26, 2008 6:21am
Quoting BillyRayValentine
About a 25-30 pip trade so far but whatevs I'll take it. Its Friday - I dont hang around too long on Fridays.
Another bucket, another 70 pips. Im going to bed. Good weekend everyone!
  • #3,784
  • Sep 26, 2008 6:34am Sep 26, 2008 6:34am
If we get any news of the bailout this weekend we might see a big gap in price. There might be opportunities to go long or short on them in the direction of the gap when the market opens on Sunday, with a fade shortly thereafter - sort of like what happened here:

laters,
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 12 KB
  • #3,785
  • Sep 26, 2008 6:36am Sep 26, 2008 6:36am
If this hits today I wouldnt take it. Too late on a Friday with risk of volatility over the weekend. Scratching it off the list for now and removed it from the blog.

Ok, Im done now....
.
  • #3,786
  • Sep 26, 2008 7:04am Sep 26, 2008 7:04am
Quoting BillyRayValentine
I like it - I was looking at this tonight - Im just wondering if it'll get up that far. its using 153.50 right now as a good baseline. next spot higher is at about 155.00
I decided to try it. 20 pips down the drain.
Ah well... on to the next one.
  • #3,787
  • Sep 26, 2008 7:12am Sep 26, 2008 7:12am
Quoting Grath
I decided to try it. 20 pips down the drain.
Ah well... on to the next one.
Yeah Im still around I dont know why but be careful on that kind of momentum....it literally burned it in seconds on some impulse buying. If you see something like that get taken and the level gets wasted not too good to try to sell into it. Oh well - it is friday after all. C'est la vie.
  • #3,788
  • Sep 26, 2008 7:17am Sep 26, 2008 7:17am
Billy Ray, would you be able to post your fib levels for EU? Maybe on the daily and hourly. My issue is that most people do not know how to correctly draw fib retracements and extensions. I know that I often have issues deciding where to draw them. So, do big banks draw them correctly? If everyone draws them differently, how do we know where the true retracement/extensions are?

Maybe I am off-base and more people draw them correctly than I realize. Maybe a short lesson on how to draw them.

Thanks.
  • #3,789
  • Sep 26, 2008 7:21am Sep 26, 2008 7:21am
Quoting lemmingboiv2
Looks like its headed for some fun

http://i38.tinypic.com/2lsjhw8.jpg

that was awesome
  • #3,790
  • Sep 26, 2008 1:50pm Sep 26, 2008 1:50pm
Quoting BillyRayValentine
Yeah Im still around I dont know why but be careful on that kind of momentum....it literally burned it in seconds on some impulse buying. If you see something like that get taken and the level gets wasted not too good to try to sell into it. Oh well - it is friday after all. C'est la vie.
Hi B R
Please forgive my seemingly basic questions. I would like to know how you can tell when momentum is to great to take a fade or indeed when it is sufficient to take a breakout. You stated "if you see something like that get taken" I didn't see anything until after the obvious had occured and my stop had gone.

Feel free to offer a really basic answer, you will not offend.

Have a good weekend B R et all

Rob
  • #3,791
  • Sep 26, 2008 3:57pm Sep 26, 2008 3:57pm
BRV & Friends,

just wanted to say hi & thankx.
In the past I've tried almost all indicators in almost all combinations. Needless to say in vain. Couple months ago found Sam Seiden's tutes on fxstreet. If you have enuff patience to listen for a couple of minutes only to hear "hmm, yes, hmm, yes", then you will find he's talking about the same stuff - areas of support and resistance, finding places where the market loses balance.

Life seems to have a sense of irony, I thought I was sort of an intelligent guy but now I'm doing these no brainers. Well, that's life. Does anyone need anything else than horizontal and diagonal lines? I said no to spaghetti trading.

thankx again, and the buckets are the best btw.
forget about tomorrow, just steal away into the night
  • #3,792
  • Sep 27, 2008 3:54am Sep 27, 2008 3:54am
Can anyone explain how is USD/JPY influenced with the bailout ? What would happen to carry pairs ? thanks
  • #3,793
  • Sep 27, 2008 6:09am Sep 27, 2008 6:09am
Quoting BillyRayValentine
About a 25-30 pip trade so far but whatevs I'll take it. Its Friday - I dont hang around too long on Fridays.
BRV, thank you for good examples. Are "buckets" reliable on any TF or just short ones such as M15? How do you time the entry and exit with buckets?

Have a nice weekend.
One Chart is Worth Ten Thousand Words.
  • #3,794
  • Sep 27, 2008 6:57am Sep 27, 2008 6:57am
Quote
Are "buckets" reliable on any TF or just short ones such as M15? How do you time the entry and exit with buckets?

Any TF, usually the bigger the better (1H for example)

5M and 15M buckets just occur more often
  • #3,795
  • Sep 27, 2008 12:30pm Sep 27, 2008 12:30pm
Quoting lumesh
Any TF, usually the bigger the better (1H for example)

5M and 15M buckets just occur more often
Hi guys.... as it is the weekend I am in need of some reading material, so.....

Somewhere in this thread I missed the bit about 'the buckets' - If someone can save me a few hours sifting back through this thread and please post a link then it would be much appreciated ......the only thing I really know about buckets is that I used to take them to the beach along with my spades on Summer holidays :-)
  • #3,796
  • Sep 27, 2008 1:19pm Sep 27, 2008 1:19pm
Quoting Willowgal
Hi guys.... as it is the weekend I am in need of some reading material, so.....

Somewhere in this thread I missed the bit about 'the buckets' - If someone can save me a few hours sifting back through this thread and please post a link then it would be much appreciated ......the only thing I really know about buckets is that I used to take them to the beach along with my spades on Summer holidays :-)
Try using Search facility. In a nutshell, it's a pattern show on the latest charts posted by BRV. When it occurs, the price typically retreats from the lip of the bucket toward its bottom. I guess aiming at 2/3 of bucket depths is a good target.
One Chart is Worth Ten Thousand Words.
  • #3,797
  • Sep 27, 2008 1:36pm Sep 27, 2008 1:36pm
Quoting Willowgal
Hi guys.... as it is the weekend I am in need of some reading material, so.....

Somewhere in this thread I missed the bit about 'the buckets' - If someone can save me a few hours sifting back through this thread and please post a link then it would be much appreciated ......the only thing I really know about buckets is that I used to take them to the beach along with my spades on Summer holidays :-)

First post, under the title Important Posts - Nuts and Bolts of the Strategy Used Here
third one from the bottom.
  • #3,798
  • Sep 28, 2008 1:02am Sep 28, 2008 1:02am
Quoting Willowgal
Hi guys.... as it is the weekend I am in need of some reading material, so.....
Kinda hard to miss the PDF on the first page of the thread.
Btw the search box on the left is like the 8th wonder of the world
forget about tomorrow, just steal away into the night
  • #3,799
  • Sep 28, 2008 1:16am Sep 28, 2008 1:16am
Quoting Forex007
Try using Search facility. In a nutshell, it's a pattern show on the latest charts posted by BRV. When it occurs, the price typically retreats from the lip of the bucket toward its bottom. I guess aiming at 2/3 of bucket depths is a good target.
Hey! I thought when prices touch the bottom of the bucket they turn back quickly. Not towards the bottom but from the bottom. Have I missed something??
forget about tomorrow, just steal away into the night
  • #3,800
  • Sep 28, 2008 4:44am Sep 28, 2008 4:44am
Quoting spekitox
Hey! I thought when prices touch the bottom of the bucket they turn back quickly. Not towards the bottom but from the bottom. Have I missed something??
It depends on what you call a "bottom". The pattern is an UPSIDE DOWN cup/bucket (the way I view them).
One Chart is Worth Ten Thousand Words.
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