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  • #4,381
  • Oct 16, 2008 7:08am Oct 16, 2008 7:08am
Sells hit on EUR in that 15-33 area I was writing about on the blog by the way pretty decent so far - also long USDCHF at the 1.1300-1295 area - more drawdown than wanted but still waiting on these to show their real faces here.
  • #4,382
  • Oct 16, 2008 7:37am Oct 16, 2008 7:37am
Quoting Willowgal
Hi, I just got a few pips from this Bucket!
Excellent! Thank you and thanks BRV, I think I'm getting the hang of it.
  • #4,383
  • Oct 16, 2008 7:40am Oct 16, 2008 7:40am
Quoting BillyRayValentine
.
Yeah, this is actually what I was looking at earlier, only I placed the bottom of the bucket a few pips lower and therefore missed that entry. Oh well, there's always gonna be a next time :-)

By the way, BRV, what kind of stop loss do you recommend on those bucket trades? It seems they're pretty accurate most of the time, with maybe a 10 pip drawdown at worst.
  • #4,384
  • Oct 16, 2008 7:46am Oct 16, 2008 7:46am
And another question, I'm always curious to know why these patterns work. So what's the explanation for the bucket pattern? Lots of orders stacking up on those bottoms?
  • #4,385
  • Edited 8:35am Oct 16, 2008 8:02am | Edited 8:35am
Quoting BillyRayValentine
Sells hit on EUR in that 15-33 area I was writing about on the blog by the way pretty decent so far - also long USDCHF at the 1.1300-1295 area - more drawdown than wanted but still waiting on these to show their real faces here.
Eur/Usd 1.3538 hit - the ball start to roll... 57 pips one first swing for now.

71....

89...
  • #4,386
  • Oct 16, 2008 8:14am Oct 16, 2008 8:14am
Quoting Inzider
Eur/Usd 1.3538 hit - the ball start to roll... 57 pips one first swing for now.

71....
Half position closed now where to get out???

what would be a sensible target for this trade?

1.3422???


Rob
  • #4,387
  • Oct 16, 2008 8:26am Oct 16, 2008 8:26am
Good entries
but, shaken out quickly

Actually, on the JPY I had
to go for coffee. LOL

This will improve with practice
and confidence in the method.
Just the fact that I'm getting
in on the right side of these
trades is really something for me!

Are these levels that I marked
ones that others had pegged
as well?

Thanks and best of trading!
Brent
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  • #4,388
  • Oct 16, 2008 8:49am Oct 16, 2008 8:49am
Quoting FXSurfer
Good entries
but, shaken out quickly

Actually, on the JPY I had
to go for coffee. LOL

This will improve with practice
and confidence in the method.
Just the fact that I'm getting
in on the right side of these
trades is really something for me!

Are these levels that I marked
ones that others had pegged
as well?

Thanks and best of trading!
Brent
Only followed the euro FXsurfer

entry 1.35201 exit 1.3444 previous sup/res or 1.3422 or follow the 5 min exit strategy from the pdf.

This is becoming fun.

Good trading

edit: one other thing I tried to look back on the charts for Billy Rays recommendations of 1.3515 - 1.3533 but couldn't be entirely sure what he saw, so if you have time Steve I would be interested in understanding your thinking on these historic levels

Rob
  • #4,389
  • Edited 9:16am Oct 16, 2008 8:53am | Edited 9:16am
Eur/Usd Exit @1.3422 yeah, or daily open, make full sens to me.

I closed most of it, but no shame
91 pips ride!
  • #4,390
  • Oct 16, 2008 8:57am Oct 16, 2008 8:57am
Quoting Inzider
Eur/Usd Exit @1.3457 Now
0.1... on the table.

91 pis full ride!

hey Inzider what does .1 on the table mean???



Rob
  • #4,391
  • Oct 16, 2008 8:59am Oct 16, 2008 8:59am
Quoting Inzider
Eur/Usd Exit @1.3422 yeah, make full sens to me.

I cosed most of it, but no shame
Maybe not the price is struggling at .444 sup

edit :

If it goes through .444 and .422 Billy Ray has a buy at 1.3324 ??? and I see weekly sup/res around1.3360 from 2007
  • #4,392
  • Edited 11:23am Oct 16, 2008 9:14am | Edited 11:23am
Hard time, could go to 1.3392, i got in again at 1.3423...

0.1 is the lot size, on the table = still open.

Good trade!
  • #4,393
  • Oct 16, 2008 9:30am Oct 16, 2008 9:30am
Possible short on the NZD/USD at 0.6425. Any comments?
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  • #4,394
  • Oct 16, 2008 9:42am Oct 16, 2008 9:42am
Full close @ 1.3386.

Renter opposite direction at exact pips whit minor lot.
Target 1.3458

If you guys feel like, you can look at Market Level 2 to have a look over battle at key point.

http://www.forex-tsd.com/tools-utili...evel-11-a.html

also this forum is the devils cave, since its the best place to find... indicators... noooooooo!
  • #4,395
  • Oct 16, 2008 10:00am Oct 16, 2008 10:00am
Quoting robgsxr
More thanks Billy Ray.

I am sitting here in sunny England with a great big smile on my face because I too can finally see these cups / buckets. Missed this one by 2 pips mind you but who cares.... I really am laughing my arse off.

Still too meek to trade live but what a Fantastic day

Rob
Rob, just because I care. Still we are in a free funny fofofool forex market. Don't forget it and never feel too confident!!
Just my 2 cents
  • #4,396
  • Oct 16, 2008 10:24am Oct 16, 2008 10:24am
hi BRV,

i watched the correlation between the GBPUSD and SPX today. I have noticed that when equties go down so should that pair, right ?... what i would like to know is...what caused this vicious move up (see attached chart)....then it went down too but what i don't get it is why it shot up 100 pips in 20 min while S&P where making lower lows ? thanks.
Attached Image (click to enlarge)
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  • #4,397
  • Oct 16, 2008 10:34am Oct 16, 2008 10:34am
Quoting Grath
Long @ 1.7158 (+/- 10)
(If I understand buckets!)
Perhaps I'm beginning to understand. This one came good.
  • #4,398
  • Oct 16, 2008 10:59am Oct 16, 2008 10:59am
Quoting dorellino
Rob, just because I care. Still we are in a free funny...
Thanks Dorellino,

Sad to say that I'm not one to be brimming with confidence its just I can't remember the last day I even felt comfortable making a trade, demo or otherwise. I haven't trader my live account now for more than 6 months. (I am thankful it is still funded and not wiped out like a few others I have read)
Today I was able to see a clear reaction from a cup pattern, trade the euro long to the short trigger around 1.3520 from 5 minute price action and s/r 's and trade the short to close at a sensible level.

It may appear pathetic to some but for me it was great achievement.

I can only thank Billy Ray and honestly everyone else on this thread for their inputs. It has been a great learning experience and I can only hope it continues.

To everyone's success

Rob
  • #4,399
  • Oct 16, 2008 11:00am Oct 16, 2008 11:00am
Quoting lumesh
hi BRV,

i watched the correlation between the GBPUSD and SPX today. I have noticed that when equties go down so should that pair, right ?... what i would like to know is...what caused this vicious move up (see attached chart)....then it went down too but what i don't get it is why it shot up 100 pips in 20 min while S&P where making lower lows ? thanks.
Hi Lumesh,
IMHO we had a rash of bad news for the dollar this morning and the spike you are refering to happened about 20 min after the last announcement of the Philly Fed. This could be it. Anyone, please feel free to correct me if you think I am wrong. (always learning)

Mike G

8:00 USDhttp://www.forexfactory.com/images/m...mpact_high.gifTIC Long-Term Purchases 14.0B 28.0B 8.6B
8:15 USDhttp://www.forexfactory.com/images/m...act_medium.gifCapacity Utilization Rate 76.4% 78.0% 78.7%
8:15 USDhttp://www.forexfactory.com/images/m...act_medium.gifIndustrial Production m/m -2.8% -0.7% -1.0%
9:00 USDhttp://www.forexfactory.com/images/m...act_medium.gifPhilly Fed Manufacturing Index -37.5 -9.0 3.8
  • #4,400
  • Edited 11:26am Oct 16, 2008 11:13am | Edited 11:26am
Hi BRV!

thx again for those answer to my question on earlier post!

I wonder if you would identify that price action as a bucket, still confuse whit it.
And what kind of TP you would reach on this?

Thx!

Quoting Inzider
Full close @ 1.3386.

Renter opposite direction at exact pips whit minor lot.
Target 1.3458
7 pips to TP... 50% FIBS, out at 38%

Im out, good day ALL!
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