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  • #5,641
  • Nov 12, 2008 8:26am Nov 12, 2008 8:26am
Quoting cliffedwards
cable testing low

i just went long on cable at 1.5175, it is abit of a long shot, but iv noticed that cable, gbpjpy and gbpchf all just bounced off their diagonal lower trend line at the same time, (long term bear flag).

I know its against the trend but i think the risk reward ratios worth it, sl 80, tp 350ish, very small lots size

Iv done the same on gbpjpy aswell.
  • #5,642
  • Nov 12, 2008 8:34am Nov 12, 2008 8:34am
my take is this is a mild bullish development here. on a 30m price rejected the lows. If that selling was real it had the potential to take a nose dive. Dow is still respecting support. Plus pit traded s&p is leaving a decent gap in basically non-comittal trading. look for the usual suspects to rally with s&p. Maybe!
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  • #5,643
  • Nov 12, 2008 8:56am Nov 12, 2008 8:56am
Quoting bobcat
Great thread by the way, my personal favorite,

This eurusd support you pointed out, i know its bounced off this before a few times going back to october but its also broken through a few times aswell, what made you believe that this time it would hold?

I closed 38 pips profit, so thanks and keep them coming!
its just a common pattern, again I mean I saw price racing down there and moderately 'oversold' and then I saw it stalling/starting to bounce on a 1 min timeframe, so I went for it. If it broke it I would have most likely gotten out with a small loss. This is a shorter term play anyway - overall eur/usd formed a flag formation which typically indicates continuation of the prevailing trend when the bottom trendline gets broken....thats the theory atleast but I dont rely on it alot. Anyway we're getting a good bounce from these lows hgere and SPX is looking a little better than earlier today so we'll see how it plays out.
  • #5,644
  • Nov 12, 2008 8:59am Nov 12, 2008 8:59am
Quoting Guerrillawar
my take is this is a mild bullish development here. on a 30m price rejected the lows. If that selling was real it had the potential to take a nose dive. Dow is still respecting support. Plus pit traded s&p is leaving a decent gap in basically non-comittal trading. look for the usual suspects to rally with s&p. Maybe!
GM (Gen Motors) is up today so you know something fishy is in the air . S&P seems to be holding for now I'm in a GBP long from that 1.5165 area so I'm doing some begging right about now. Mervyn King made an absolutely depressing case for England this morning so I think thats being factored in bigtime here and muting buyers, too.
  • #5,645
  • Nov 12, 2008 9:12am Nov 12, 2008 9:12am
Quoting BillyRayValentine
GM (Gen Motors) is up today so you know something fishy is in the air . S&P seems to be holding for now I'm in a GBP long from that 1.5165 area so I'm doing some begging right about now. Mervyn King made an absolutely depressing case for England this morning so I think thats being factored in bigtime here and muting buyers, too.
Speculations that GM's rescue package will be approved ?
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #5,646
  • Nov 12, 2008 9:44am Nov 12, 2008 9:44am
So many opportunities this morning... and I can't get on my trading platform!


There's a bucket on the USDJPY at 94.82, if I can log on I will be watching it for a counter-trend bounce.
  • #5,647
  • Nov 12, 2008 10:13am Nov 12, 2008 10:13am
Just hit a bucket from October on the 4H 118.15
  • #5,648
  • Nov 12, 2008 10:16am Nov 12, 2008 10:16am
any saw what jus happened to the chart... WOAH....
  • #5,649
  • Nov 12, 2008 10:16am Nov 12, 2008 10:16am
why USDCHF is going down while EU and UG are also dropping?
  • #5,650
  • Nov 12, 2008 10:19am Nov 12, 2008 10:19am
Quoting therainmaker
any saw what jus happened to the chart... WOAH....
GBP got hammered juuuuuuuuuuuust a little but bouncing off of 4910 support here....game over?
  • #5,651
  • Nov 12, 2008 10:34am Nov 12, 2008 10:34am
Quoting ady27
Just hit a bucket from October on the 4H 118.15

Took 80 pips home.
Could have been 120 but I chickened out.

Thanks BRV for teaching us... you are the godfather of those pips.
I didn't know the "bucket" before reading this thread and your blog.
  • #5,652
  • Nov 12, 2008 10:37am Nov 12, 2008 10:37am
I leave my computer for a little while and trades pop out from everywhere.Look at the respect price gave that trendline.I don't know how people can say it is a random market.
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  • #5,653
  • Nov 12, 2008 11:10am Nov 12, 2008 11:10am
BRV: after big moves (2-400 pips, depending on the pair), do you shift focus to short-term S&R/pattern opportunities that arise within consolidation? An example of what I mean is the trade you posted a few hours ago, long on the EURUSD.

They obviously have smaller potential profit opportunities, but if you catch them seem to be pretty good trades with relatively low risk. I've noticed that during the Asian session and other low volatile periods (like after large moves), these opportunities are everywhere, but I'm usually not looking for them until they're pointed out.
  • #5,654
  • Nov 12, 2008 11:16am Nov 12, 2008 11:16am
Quoting BillyRayValentine
GBP got hammered juuuuuuuuuuuust a little but bouncing off of 4910 support here....game over?
Should be.. but I wouldnt discount a fundemental run on sterling after Kings comments..been expecting a EG breakout for 6 months.. maybe this is it..
  • #5,655
  • Nov 12, 2008 11:35am Nov 12, 2008 11:35am
This is what i look for. The upside momentum is getting stronger.
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  • #5,656
  • Nov 12, 2008 11:38am Nov 12, 2008 11:38am
Not everyone's favorite pair but worth a look anyway

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Note the 61.8% retracement is a little higher... nice place for a stop.
  • #5,657
  • Nov 12, 2008 11:56am Nov 12, 2008 11:56am
Possible pull-back for a short....
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  • #5,658
  • Edited 12:18pm Nov 12, 2008 12:08pm | Edited 12:18pm
any body take this trade? seems perfect. something else for you fib guys. look how the extension lines up perfectly with a retracement and resistance.
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  • #5,659
  • Nov 12, 2008 1:14pm Nov 12, 2008 1:14pm
Quoting Guerrillawar
any body take this trade? seems perfect. something else for you fib guys. look how the extension lines up perfectly with a retracement and resistance.
That's a great example of a low risk setup. Could have locked in a few pips already. Unfortunately, I didn't see it soon enough !!
  • #5,660
  • Nov 12, 2008 4:09pm Nov 12, 2008 4:09pm
hi BRV friends ,


do you have any clue why eurusd did not move too much today and actually consollidated , allthough other usd pairs moved a lot , there was all reasons for it to drop like the others ...

I'll be glad to hear your opinions , since I mainlly trading this pair - which reminds me , BRV , on how many pairs do you trade ?

thanks,
Barak
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