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  • #6,041
  • Nov 18, 2008 5:47am Nov 18, 2008 5:47am
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Interesting here. I am looking at sell 97.20 area, which is where I have my resistance, but trend line looks like stopper too. we will see
  • #6,042
  • Nov 18, 2008 6:03am Nov 18, 2008 6:03am
last post from me tonight. overkill. But this is important I believe. trend line held up so well, but it is not S/R which is BRVs method. It is only an extra to give more precision. If this had come through it could be taken that there was a break and it would be off and away, when in fact it would have hit resistance at 97.18. just have to be mindful of that if you add these lines.
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  • #6,043
  • Edited 6:49am Nov 18, 2008 6:31am | Edited 6:49am
Here's another wish I was there trade. Brv, I can't thank you enough. I feel like a dope all these years never using trend lines. They kick butt if you line them up right.
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  • #6,044
  • Nov 18, 2008 6:33am Nov 18, 2008 6:33am
Quoting Tori
Attachment

Interesting here. I am looking at sell 97.20 area, which is where I have my resistance, but trend line looks like stopper too. we will see

Thanks for posting Tori. I shorted at 97.17
  • #6,045
  • Nov 18, 2008 6:38am Nov 18, 2008 6:38am
Quoting libb
Thanks for posting Tori. I shorted at 97.17
Blessings. appreciate your words.
  • #6,046
  • Nov 18, 2008 7:16am Nov 18, 2008 7:16am
Confluence of TL and support, good for about 50 pips so far.
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  • #6,047
  • Nov 18, 2008 8:09am Nov 18, 2008 8:09am
Ron Paul is saying the dollar/fiat system is dead and we should move back to gold backed fixed currencies... hahahah. Can't believe people wanted to vote this guy in for President.

I'll be looking to play a breakout on the EURUSD at some point within the next day. Perfect setup for it.
  • #6,048
  • Nov 18, 2008 8:10am Nov 18, 2008 8:10am
Hey Tori, my diag TL on JPY came down a bit lower than your pic - to coincide with 96.61 (it has a lot of previous, not shown) which gave a quick 30 pip scalp. You can't beat these TLs together with horizontals, really.

And then on the breakout above currently reacting with 97.37

Can't say I had much hope for the breakout trade with Paulson babbling away in the background, but for once he's done me a favour!
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  • #6,049
  • Nov 18, 2008 8:16am Nov 18, 2008 8:16am
Quoting triphop
Hey Tori, my diag TL on JPY came down a bit lower than your pic - to coincide with 96.61 (it has a lot of previous, not shown) which gave a quick 30 pip scalp. You can't beat these TLs together with horizontals, really.

And then on the breakout above currently reacting with 97.37

Can't say I had much hope for the breakout trade with Paulson babbling away in the background, but for once he's done me a favour!
great. But your trendline came down a little lower because you hadnt adjusted it when the next high candle came. just have to watch that because at some point it will be important. Now I am off to bed. It is 3 in the morning in aussie. happy pipping
  • #6,050
  • Nov 18, 2008 8:20am Nov 18, 2008 8:20am
Quoting Guerrillawar
this was my only trade today a real beauty. it was based on trendline work and worked virtually to the pip. I had some decent size on so I'm quite happy and calling it a day for any further trading.
Hi GV, thanks for you very active work here at BRV.
I have 2 questions: this last trade was a buy at 1.2569?
Also, you mention some time fibo projection where you show a trendline and a level working together.
Can u explain that?
Thx
Max
  • #6,051
  • Nov 18, 2008 8:26am Nov 18, 2008 8:26am
Hi Tori, how come you move your TLs? I keep mine in the same place to see them break or not. Once broken, they're binned.

Curious to know, not saying one is right or wrong. As it's 3am, maybe leave till tomorrow eh?! All the best
  • #6,052
  • Nov 18, 2008 8:26am Nov 18, 2008 8:26am
Quoting dorellino
Hi GV, thanks for you very active work here at BRV.
I have 2 questions: this last trade was a buy at 1.2569?
Also, you mention some time fibo projection where you show a trendline and a level working together.
Can u explain that?
Thx
Max
on my data the trade was from 1.2570. I went long at 1.2571 plus 2 pip spread. I'm really not a fibo guy maybe some one else can answer that question. I just used the real basic fibo principles that have been mentioned in this thread.
  • #6,053
  • Nov 18, 2008 8:32am Nov 18, 2008 8:32am
Quoting triphop
Hi Tori, how come you move your TLs? I keep mine in the same place to see them break or not. Once broken, they're binned.

Curious to know, not saying one is right or wrong. As it's 3am, maybe leave till tomorrow eh?! All the best
You just caught me. You dont move your horizontal trend lines. But the diagonal ones go from the highest high on the right back to the next highest high. The lowest low back to the next lowest low. So depending on what time frame you are on, once the candle has finished you see if the next one opens lower than that high. If so you draw new line. So you are always monitoring that. Of course a daily one wont change often at all. This is new jap hour chart. Billy Ray did heaps on this last night. maybe you could go back and find some more examples
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  • #6,054
  • Edited 8:46am Nov 18, 2008 8:40am | Edited 8:46am
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Darn sorry guys. hate not to be spot on. the next highest high is the red line. just a little lower than the blue. now the chart is right. good night for sure this time.
  • #6,055
  • Nov 18, 2008 8:42am Nov 18, 2008 8:42am
Often times if you adjust your TLs you can miss out on a reaction of where the TL was initially drawn. This is the problem with TLs: they can be ambiguous, and while they may be working well right now, you might go through a period of getting burned or missing out on trades as you constantly redraw them. If you rely purely on TLs you will be burned by many false breakouts, also.
  • #6,056
  • Nov 18, 2008 8:44am Nov 18, 2008 8:44am
Ah, I get you. Sorry, I got completely the wrong end of the stick. Until next time...
  • #6,057
  • Nov 18, 2008 8:44am Nov 18, 2008 8:44am
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too tired.
  • #6,058
  • Nov 18, 2008 8:57am Nov 18, 2008 8:57am
Watching 1.2735 on EURUSD.

November 17 high, and November 5-13 trendline.
  • #6,059
  • Nov 18, 2008 9:06am Nov 18, 2008 9:06am
Quoting smittens4212
Watching 1.2735 on EURUSD.

November 17 high, and November 5-13 trendline.

Thanks smittens
  • #6,060
  • Nov 18, 2008 9:12am Nov 18, 2008 9:12am
I don't think it's going to be hit. It's finding resistance around 1.2700 and slowing down. I'm watching 1.2703 as an H1 bucket, too.
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