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  • #7,621
  • Jan 26, 2009 6:24am Jan 26, 2009 6:24am
Quoting RedCabbage
No I didn't think that would hold again.

Text book set on EURCAD though, not a pair I trade but it was such an obvious one with plenty of space, I'm annoyed I didn't see it sooner.

No kidding, check out that huge bucket formed end of Nov to early Dec. Missed it as well.
  • #7,622
  • Jan 26, 2009 6:28am Jan 26, 2009 6:28am
Quoting libb
No kidding, check out that huge bucket formed end of Nov to early Dec. Missed it as well.
Cross characteristics change of course but in the past I found EURCAD would eat up my s/l with it's larger spread and big hourly ranges. Look at the size of the body on some of these candles.
  • #7,623
  • Jan 26, 2009 7:48am Jan 26, 2009 7:48am
Quoting kojak
anyone took the nice bounce at 0,9339?
sl at break even now
closed at next resistance at 0,9425 .)
  • #7,624
  • Jan 26, 2009 8:27am Jan 26, 2009 8:27am
Hey, guys, I had stuff to do in town and I missed the action. Did anyone catch 1.3900 on GBPUSD? I had that marked, but unfortunately wasn't at the pc and watched it sell from my phone ... Took 14 pips on EURO at 1.3082 when I got home (countertrend scalp).
  • #7,625
  • Jan 26, 2009 8:41am Jan 26, 2009 8:41am
I like the look of 1.4030 area for a short, if it gets there. (Support in November 2001 and resistance Tuesday and Wednesday last week.)

Anyone else like this?
  • #7,626
  • Jan 26, 2009 8:46am Jan 26, 2009 8:46am
Quoting Grath
I like the look of 1.4030 area for a short, if it gets there. (Support in November 2001 and resistance Tuesday and Wednesday last week.)

Anyone else like this?
Yeah, I have that marked. May jump in for a short myself

Good luck!
  • #7,627
  • Jan 26, 2009 9:04am Jan 26, 2009 9:04am
I shorted USD CAD from 1.2260 based on the general vicinity being tested and then another run upward occurred. I was short biased from the weekly pin that's been broken and then this pullback upward gave a good discount entry.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #7,628
  • Jan 26, 2009 9:04am Jan 26, 2009 9:04am
It is also a FIB 23.6 level - maybe a nice bucket bottom is forming?
  • #7,629
  • Jan 26, 2009 9:10am Jan 26, 2009 9:10am
Lost the short on USDJPY 89.60 . Was busy looking at other charts. Anyone caught this?
  • #7,630
  • Jan 26, 2009 9:15am Jan 26, 2009 9:15am
bumasoft

Look for confirmation of your levels from highs/lows, Fibs, TLs, and round numbers.

Quoting RedCabbage
There she goes north. looking for an opportunity 8970-9015. There's a Fib 38.2 in there at a round number 9000.

ETA : And a daily TL.
  • #7,631
  • Jan 26, 2009 9:23am Jan 26, 2009 9:23am
Quoting RedCabbage
bumasoft

Look for confirmation of your levels from highs/lows, Fibs, TLs, and round numbers.
There are some lows at 89.60. Next level I had marked is 90.00 - 90.07, so yes, I am watching that too. Thanks
  • #7,632
  • Jan 26, 2009 9:26am Jan 26, 2009 9:26am
Classic set up now on USDCAD
  • #7,633
  • Jan 26, 2009 9:28am Jan 26, 2009 9:28am
Quoting RedCabbage
Classic set up now on USDCAD
Are you looking for a long at 1.2100 - 1.2070 ? Btw, I had no Fibs on USDJPY, thanks for pointing that out . I see the 38.2 now.

Cheers!

PS: There is a 61.8% fib around 1.2145, where it bounced right now... I hope it will go down to test 1.2100 though
  • #7,634
  • Jan 26, 2009 9:31am Jan 26, 2009 9:31am
Quoting bumasoft
Are you looking for a long at 1.2100 - 1.2070 ? Btw, I had no Fibs on USDJPY, thanks for pointing that out . I see the 38.2 now.

Cheers!
12133-12104 I'm going long.
  • #7,635
  • Jan 26, 2009 9:41am Jan 26, 2009 9:41am
Quoting RedCabbage
12133-12104 I'm going long.
Ok, I didn't see that 1.2133 . What do you do in case you close that trade in profit and then price goes to visit 1.2104 too? Do you take that too or drop it?

Thanks.
  • #7,636
  • Jan 26, 2009 9:46am Jan 26, 2009 9:46am
RC, why 1.2133? I don't really see anything there.
  • #7,637
  • Edited 10:11am Jan 26, 2009 9:47am | Edited 10:11am
Quoting bumasoft
Ok, I didn't see that 1.2133 . What do you do in case you close that trade in profit and then price goes to visit 1.2104 too? Do you take that too or drop it?

Thanks.
The best price reversals happen when buyers/sellers are tightly clustered together.

Some of the buyers at the lower level will have been tempted in at a higher price so the reaction at 12104 will be weaker than is was. A reversal within 40-50 pips or less of your target can have this effect. ETA (BRV says 20pips)

Read BRVs notes on entering price pivot zones and you'll see why I chose 12133.
  • #7,638
  • Jan 26, 2009 9:47am Jan 26, 2009 9:47am
Quoting orcus
RC, why 1.2133? I don't really see anything there.
Me either, but there is a 61.8% around 1.2145, so we should have known that.
  • #7,639
  • Jan 26, 2009 9:55am Jan 26, 2009 9:55am
Quoting RedCabbage
The best price reversals happen when buyers/sellers are tightly clustered together.

Some of the buyers at the lower level will have been tempted in at a higher price so the reaction at 12104 will be weaker than is was. A reversal within 40-50 pips or less of your target can have this effect.

Read BRVs notes on entering price pivot zones and you'll see why I chose 12133.
Can you point me to a page/post number, please? Sorry if I'm a pain
  • #7,640
  • Jan 26, 2009 9:57am Jan 26, 2009 9:57am
Quoting bumasoft
Lost the short on USDJPY 89.60 . Was busy looking at other charts. Anyone caught this?
yep
took two trades today..eur/gbp +90 pip(posted a couple of hours ago) and now this one with sl moved to break even right now.
a great day today..
cu
kojak
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