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  • #5,461
  • Nov 10, 2008 3:38am Nov 10, 2008 3:38am
Area to look for
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  • #5,462
  • Nov 10, 2008 4:20am Nov 10, 2008 4:20am
hi if this attachment works just wondering anyones opinion on eurgbp possible breakout, many thanks

i am a total noob and am still learning.. so just wondering anyones opinion
Attached Image
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  • #5,463
  • Nov 10, 2008 4:22am Nov 10, 2008 4:22am
Quoting Willowgal
This is looking promising - about 20 pips up so far
Have you chosen a target for your trade.
  • #5,464
  • Nov 10, 2008 4:35am Nov 10, 2008 4:35am
Eur/jpy is running the show today. It appears to me the gap is in play. S&P is gapping as well and looks heavy.
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  • #5,465
  • Nov 10, 2008 4:44am Nov 10, 2008 4:44am
I see lots of support on 15 min chart on eurjpy and dont think it is quite ready to drop yet. am looking at 128.65 sell area.

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  • #5,466
  • Nov 10, 2008 4:48am Nov 10, 2008 4:48am
I have to clarrify that I am only learning, and you showed me a chart yesterday where candles came down to support and then the trade went up, so I am looking at same set up here. please feel free to set me straight
  • #5,467
  • Nov 10, 2008 4:58am Nov 10, 2008 4:58am
Quoting Tori
Have you chosen a target for your trade.
It is now re-testing the level. If it holds I would be looking at around 1.3110 possibly.... but we will see
  • #5,468
  • Nov 10, 2008 5:09am Nov 10, 2008 5:09am
To Guerrillawar. I hope you dont mind me asking about eurjpy. When you showed me aususd trade, it was almost identical, and you showed how it was a buy. I look at this on 15 min chart and would have put buy in at line, It did go up but only a little. You are looking at this as a sell not a buy if I am right. I dont know the difference and can see I would get myself into trouble unless I can distinguish. You are the master trader, I the student, but I want to be more than a student so unfortunately I will ask and ask till I understand. Hope you dont mind too much.
  • #5,469
  • Nov 10, 2008 5:12am Nov 10, 2008 5:12am
Quoting Tori
I have to clarrify that I am only learning, and you showed me a chart yesterday where candles came down to support and then the trade went up, so I am looking at same set up here. please feel free to set me straight
I know Chicago sentiment kind of well. I would be surprised if they will pay up for this market based on a china stimulus plan. This up move is leaving some large gaps. I expect those gaps to be filled. Maybe not today but in the next few days. However, your analysis is correct but that support isn't major its scalping support. Equities looks set to fill the gaps I attached some charts of Stoxx50E, Dax, Cac, and S&P.
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  • #5,470
  • Nov 10, 2008 5:19am Nov 10, 2008 5:19am
Quoting Tori
To Guerrillawar. I hope you dont mind me asking about eurjpy. When you showed me aususd trade, it was almost identical, and you showed how it was a buy. I look at this on 15 min chart and would have put buy in at line, It did go up but only a little. You are looking at this as a sell not a buy if I am right. I dont know the difference and can see I would get myself into trouble unless I can distinguish. You are the master trader, I the student, but I want to be more than a student so unfortunately I will ask and ask till I understand. Hope you dont mind too much.
Ask away all you would like. And be absolutely sure I'm no master trader. If I was I would be trading from my yacht with a satellite connection traversing the world over.
  • #5,471
  • Nov 10, 2008 5:20am Nov 10, 2008 5:20am
Thankyou for that. I learn something new. To be mindful of shorter term support and not treat it as solidly as long term support. You have answered my question clearly. I have probably, without knowing it, been putting as much creedence in both supports, when there is clearly a big difference. I will be more careful. thanks again
  • #5,472
  • Nov 10, 2008 6:21am Nov 10, 2008 6:21am
Here's a trade a just took in Eur/chf. Probably a big mistake exiting here, I'm not sure how I will get back in. But 40 pips in 10 minutes on this instrument I had to take it.
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  • #5,473
  • Nov 10, 2008 6:30am Nov 10, 2008 6:30am
Nice setup GW,
I missed that one.You have any comments on this setup of the usd/cad. Trendline,76.4 fib,bucket,prior S&R.Seems like enough confluence to me.
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  • #5,474
  • Edited 7:08am Nov 10, 2008 6:30am | Edited 7:08am
Nice one on ECH GW...
I took bounce off 12925 on EU and out at 50 fibo.. but in slices.. nervy...lol...
so + not as good as you.. but good +
no clear sentiment ..S&P getting hammered by retail gloom.. Thanks for your Chicago insight..
  • #5,475
  • Nov 10, 2008 6:50am Nov 10, 2008 6:50am
Just closed out a eur/usd short at 1.2850 or so and Eur/jpy at 127.00. Probably to soon becasue I see 1.2825 as a big target on eur/usd. And I have no reason to close eurjpy other than to take profits but they are nice. Easy day to trade so far. Time to take it easy. As I was attaching this it looks like 1.2825 is going to get hit
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  • #5,476
  • Nov 10, 2008 6:51am Nov 10, 2008 6:51am
Quoting jlmac27
Nice setup GW,
I missed that one.You have any comments on this setup of the usd/cad. Trendline,76.4 fib,bucket,prior S&R.Seems like enough confluence to me.
I see a lot of momentum in this move,a bounce doesn't look so good now......
  • #5,477
  • Nov 10, 2008 7:02am Nov 10, 2008 7:02am
Quoting Guerrillawar
Just closed out a eur/usd short at 1.2850 or so and Eur/jpy at 127.00. Probably to soon becasue I see 1.2825 as a big target on eur/usd. And I have no reason to close eurjpy other than to take profits but they are nice. Easy day to trade so far. Time to take it easy. As I was attaching this it looks like 1.2825 is going to get hit
How did you decide which way to go! To sell or buy? As that candle was in EURUSD more than 100 pips, it is to late wait to close candle!
  • #5,478
  • Nov 10, 2008 7:03am Nov 10, 2008 7:03am
Quoting jlmac27
Nice setup GW,
I missed that one.You have any comments on this setup of the usd/cad. Trendline,76.4 fib,bucket,prior S&R.Seems like enough confluence to me.
I don't trade the CAD versus any currency. I personally don't like the patterns that are created on this pair. This currency tends to defy the methods BRV has put forth. Honestly I think it could be a good idea to buy resistance and sell support in this pair. Becuse I personally lose every time a give it a try in cad. Any way here's where I would think about entering.
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  • #5,479
  • Nov 10, 2008 7:12am Nov 10, 2008 7:12am
Quoting goldsmith
How did you decide which way to go! To sell or buy? As that candle was in EURUSD more than 100 pips, it is to late wait to close candle!
On this particular trade I wasn't basing my decision on a candle chart. I was using a modified line chart. There was perfect symmetry, a quad pivot area and I knew how the floor would trade this market.
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  • #5,480
  • Nov 10, 2008 7:17am Nov 10, 2008 7:17am
Quoting Guerrillawar
I don't trade the CAD versus any currency. I personally don't like the patterns that are created on this pair. This currency tends to defy the methods BRV has put forth. Honestly I think it could be a good idea to buy resistance and sell support in this pair. Becuse I personally lose every time a give it a try in cad. Any way here's where I would think about entering.
I have personally lost more money over the years on this B****** than any other pair.. Stay away...
Its in step with WTI not S&P
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