No Brainer Trades

I'm not considering anything until 6272.

Closed this trade at the original target of 1.3700, although it looks like it may reach the 50% fib at 1.3835. Gotta go to work though, pips are pips. Happy trading.

Good job smittens.

Work will be much more enjoyable for you today with that in the bag.

Possible bucket to go short at 1.3684, or if it keeps progressing downwards, another bucket at 1.3607 that is definitely worth a look. I like the 1.3607, perhaps later in the night/early morning we'll see it be reached. Lately I've just been picking 1-2 levels I feel good about from a technical and fundamental standpoint and setting alerts and going to bed, if the levels approach I wake up and trade them. It's worked well.

I really like the way the EURUSD has been trading lately. It's large trending moves have been pretty obvious by the 'brick' stacking pattern BRV has written about for trending markets, and the consolidation periods have had decent enough volatility and range trading.

Morning,

Eur/Jpy is nearing the 12360 level with a nice confluence of support and a 50 fb level.

Also Aud/Usd has potential for a long run to the upside if 7270 breaks (lots of space for that one to make a run for 7823 Resistance.

Hi Siam

My charts agree with all those.

Thanks for sharing these and your previous charts, you've got a lonely timezone there in terms of the NBT thread. Keep it up!

euro/aud worth watching for a short around 1 9560 level--however breaks above there, a lot of room upside.

That does look a gooood area but my broker is charging me a 20 pip spread on this baby.

really wild ride on gbp/usd --caught 75 pips on first leg down-should have gone long at 1.5125 area since that was first re-touch of that level but didn't. now watching for possible short once again since this is a re-test of the area of first fall--daily still shows up as of now

Hi all.Anyone looking at U/J.Looks like it has room to go down(pin on daily) but BoJ short squeeze threat is making me reconsider.

I have been keeping an eye on that one but the ranges and my brokers spreads mean I haven't enough capital to trade this one.

At least I'm strict with MM!

I would like it to go down to 9020-9000 before looking for longs as there is a convergence of 4hr support, 61.8 Fib and daily TL.

We'll have to look at PA there.

we should get a chance at selling between 5250 and 5300

Looks like eur/jpy ignored that S/R @ 50% fib

It's NFP day, throw away your rule book!

Hi, I am new to this thread.

I am very interested in Support and Resistance trading. However, I faced a problem. How do you know if the S/R level will hold? I have seen many examples of the level being broken.

Is it always during news time that these level breaks.

Lets say if theres already a double top, and now the price starts to go up again. Will you place a short order at the triple THIRD top?

I have read the blog and still dun understand the fading and unfading of S/R levels. How to see if it is strong.


Thanks alot. Hope to be a regular person here.

So, are we trading with the trend in this type of trades, if so, how do we determine the trend? Higher Time Frames?

I was just wondering where is BRV? Requesting BRV to at least say Hi to the thread, so that it will give the people the confidence that he will be back soon (very soon hopefully).

I hope he sees this message and oblige.

thanx

Hi, I'm new to Forex trading and I have been foolishly searching for a "Holy Grail" system these past few months until I chanced upon this post which I then realised what BRV and Ironman had been sharing all adds up.

However, I am hoping for more and more traders to share their trading experiences, i.e. how they make decisions based on both fundamental and technical analysts:

- exactly what kind of news do we look out for cos there are so many types of news on Bloomberg, etc; why are those news important; and how would such news affect the s/r? I think we newbies need more help in guiding us to how to think like the big boys that causes the waves: why do some s/r hold and how to exactly tell if the s/r is becoming weaker.

- if we are working full time, how should our trading mindset and technique be, based on the news forecast. Like the above question, what kind or type of news should catch our eye and help us to focus on any trading pair if we going for the conservative approach of just doing one trade per day.

I know experiences are hard to impart but I would be grateful that any experienced trade share their strategy in these areas so that as we the new beginners can learn how to plan before we trade, and develop good trading habits.

I am grateful to BRV for opening my mind and reveal that trading waves do not move on their own magically. There are market forces and sentiments that cause them to move and I am also looking forward to learn how to identify potential market news that have the potential to cause big waves. Thanks once again and I hope I am not asking for too much.

The big boys are always trading the forecast and that why its priced in, you only see a big reaction when the news comes out different then the forecast since the market has to price it in...also look at news and ask youreslf if that will change the sentiment in the market since some news might seem bullish for the certain pair and still go the other way since that news did not change the way the big guys place their orders.