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No Brainer Trades

  • #4,401
  • Oct 16, 2008 11:23am Oct 16, 2008 11:23am
BRV and all here, i need some help here, jus wondering if i am makin the right TP level as indicated on my chart... ~.6755

btw, im new to tradin and has been followin this thread for a week or so now... read a good number of pdf in first page and saw the video as well.. still very much learnin n wud hope for some help around~

edit: oh crap .. forgot to add its AUD/USD.. 2 lots on blue line... 15 min chart...
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  • #4,402
  • Oct 16, 2008 11:40am Oct 16, 2008 11:40am
Great bucket Vid Billy Ray! Good trades all. Since we got bad news for the dollar if it makes new highs on bad news..... that's the golden trade imho.
"Bad news, Good action"

The level I posted bounced before it got hit, kinda makes gun shy to post anymore levels lol.

Good Trading today all,

Jason
May the fish in your stream of life always bite.
  • #4,403
  • Oct 16, 2008 11:47am Oct 16, 2008 11:47am
Quoting Willowgal
Hi, I just got a few pips from this Bucket!
Great trade Willow and all who took it!
May the fish in your stream of life always bite.
  • #4,404
  • Oct 16, 2008 11:51am Oct 16, 2008 11:51am
Quoting Matrixxdg
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


hi,

i looked at it too but why the market sank 70 pips 5 min after the announcement ....crazy....
  • #4,405
  • Oct 16, 2008 12:04pm Oct 16, 2008 12:04pm
Quoting Inzider
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!



7 pips to TP... 50% FIBS, out at 38%

Im out, good day ALL!
After BRV's great video which I hope you have watched many times as I don't think it could be explained any better ....but in words ....

After a 'U shaped bucket' has been formed earlier, the trade is to go long when the price returns down to the upper level of the 'range' that formed the base of the bucket

and

b) After a 'n shaped bucket' has been formed earlier, the trade is to go short when the price returns up to the lower level of the 'range' that formed the base of (upside down) the bucket
  • #4,406
  • Oct 16, 2008 1:06pm Oct 16, 2008 1:06pm
Quoting Willowgal
After BRV's great video which I hope you have watched many times as I don't think it could be explained any better ....but in words ....
Thx, i did not know mister Valentine made a video on it.

Appreciated!
  • #4,407
  • Oct 16, 2008 2:32pm Oct 16, 2008 2:32pm
Damn, i missed this one.

Very easy 100 pips in 15 minutes...
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Don´t live for working, but work for living.
  • #4,408
  • Oct 16, 2008 2:41pm Oct 16, 2008 2:41pm
Quoting matsf
Damn, i missed this one.

Very easy 100 pips in 15 minutes...

now it looks easy....but it could have gone up to the 177 bucket and then you'd have lost easy stop loss pips...and then the explanation would have been that "on such a heavy buying it would've been crazy to go short"

yen pairs do what the SPX does...
  • #4,409
  • Oct 16, 2008 2:58pm Oct 16, 2008 2:58pm
GBPJPY short again ?
  • #4,410
  • Oct 16, 2008 4:01pm Oct 16, 2008 4:01pm
Hello!

I really enjoy the current volatility as it produces many possible trades. As I already said, I trade EUR/USD only and I have my favourite time frames - M30, M15 and M5. There are many good intraday trades available and while I made only 20 pips today, taking all my S&R levels (three, to be exact) would produce about 80 pips if played by the rules.

Anyway, I'd like to ask anyone, who has experience in less volatile markets, if earlier mentioned time frames would also be as effective as they are now? I mean, are M30, M15 and M5 good for any market conditions, or when the market becomes less volatile, should I use larger time frames? (H1, H4, D1)?

Just wondering.
  • #4,411
  • Edited 5:01pm Oct 16, 2008 4:51pm | Edited 5:01pm
BRV, this last video on buckets was very good clarification. Thankx. Also the picture is sharp as a rocket scientist, way better than youtube.

Oooooh.
I think now I got what's in the PDF. BRV elegantly draws an ellipse - but in fact it should be viewed as two separate spots. First, the left side of the ellipse is the bucket. The right side is when price hits the bottom of the bucket. I was mislead by the ellipse, I was looking for the U-shape above the ellipse. No no no. Left side: the bucket, right side: when it hits the bottom. Now all those ellipses in the PDF make good sense.
forget about tomorrow, just steal away into the night
  • #4,412
  • Oct 16, 2008 8:50pm Oct 16, 2008 8:50pm
Eur/Usd bounce @ 1.3471 49 pips ride.
Closed at 1.3422
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  • #4,413
  • Oct 17, 2008 2:41am Oct 17, 2008 2:41am
Quoting lumesh
now it looks easy....but it could have gone up to the 177 bucket and then you'd have lost easy stop loss pips...and then the explanation would have been that \"on such a heavy buying it would've been crazy to go short\"

yen pairs do what the SPX does...
lol thanks for the laugh man

Best Wishes,
Jason
May the fish in your stream of life always bite.
  • #4,414
  • Oct 17, 2008 2:47am Oct 17, 2008 2:47am
I start to like this method, seems that no brain suits my trading style *g*

Example:
1st TP after 20Pips on first R level, the remaining 50% got just stopped out at BE.
http://img206.imageshack.us/img206/4...081017ako0.png
  • #4,415
  • Oct 17, 2008 3:44am Oct 17, 2008 3:44am
Quoting Knightz
BRV and all here, i need some help here, jus wondering if i am makin the right TP level as indicated on my chart... ~.6755

btw, im new to tradin and has been followin this thread for a week or so now... read a good number of pdf in first page and saw the video as well.. still very much learnin n wud hope for some help around~

edit: oh crap .. forgot to add its AUD/USD.. 2 lots on blue line... 15 min chart...
2 lots?
I hope your account is at least 20K, otherwise you are way too leveraged. And for a newbie (r u?) it means going broke very soon.
  • #4,416
  • Oct 17, 2008 5:04am Oct 17, 2008 5:04am
..or his lots are mini or micro lots...

Quoting dorellino
2 lots?
I hope your account is at least 20K, otherwise you are way too leveraged. And for a newbie (r u?) it means going broke very soon.
forget about tomorrow, just steal away into the night
  • #4,417
  • Oct 17, 2008 5:06am Oct 17, 2008 5:06am
Super clean, easy short tonight on GBP - hope you guys caught this:
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  • #4,418
  • Oct 17, 2008 6:45am Oct 17, 2008 6:45am
Quoting BillyRayValentine
Super clean, easy short tonight on GBP - hope you guys caught this:

doesn't this break the rules for shorting:

"S/R levels should not be traded when price has retraced a little before that level" (not the exact quote ! )

that resistance was 1.7350...technically it broke that levels upwards leaving a false breakout. If then we consider the importance of hourly closes...well it closed 1.7290...

that is why i hate the past price action.

If the level wouldn't have hold the explanation would have been exactly what i said above.

all in all...crazy market
  • #4,419
  • Oct 17, 2008 7:14am Oct 17, 2008 7:14am
Quoting spekitox
..or his lots are mini or micro lots...
plannin to start acc on 7k..
gonna start wif usin 1-2 lots per long/short
i think shud b normal acc...
any comments?
  • #4,420
  • Oct 17, 2008 7:18am Oct 17, 2008 7:18am
Quoting lumesh
doesn't this break the rules for shorting:

\\"S/R levels should not be traded when price has retraced a little before that level\\" (not the exact quote ! )

that resistance was 1.7350...technically it broke that levels upwards leaving a false breakout. If then we consider the importance of hourly closes...well it closed 1.7290...

that is why i hate the past price action.

If the level wouldn't have hold the explanation would have been exactly what i said above.

all in all...crazy market


BRV - give those pips back NOW !!!
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