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No Brainer Trades

  • #8,481
  • Feb 6, 2009 7:46am Feb 6, 2009 7:46am
LOL. Did the NFP kill everyone?
  • #8,482
  • Feb 6, 2009 8:55am Feb 6, 2009 8:55am
Quoting bumasoft
LOL. Did the NFP kill everyone?
Bumasoft's Friday afternoon...


http://www.jonrb.com/emoticons/deserted.gif
  • #8,483
  • Feb 6, 2009 8:58am Feb 6, 2009 8:58am
Quoting RedCabbage

I also like the look of USDCAD 12440-12459-12514
Top of the range is safest on a big news day like this. And it's best not move your stops too soon if it's a bit erratic.

No actually staying out is safest on a big news day like this.
  • #8,484
  • Feb 6, 2009 9:05am Feb 6, 2009 9:05am
True. and with that said there are quite a few nice trades lining up too bad its a friday and a nfp friday at that.
  • #8,485
  • Feb 6, 2009 9:08am Feb 6, 2009 9:08am
Just a few. Anybody watching these levels
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 28 KB
Click to Enlarge Name: audusd.gif Size: 32 KB
  • #8,486
  • Feb 6, 2009 9:27am Feb 6, 2009 9:27am
Quoting islandpippin
Just a few. Anybody watching these levels
They look good it's just the fall in JPY yesterday and all the big news today makes me nervous.

I don't trade NZDJPY I prefer AUDJPY which like many has a good set up coming. So many good levels have been broken through it's like trying to stop a train by standing in front of it.
  • #8,487
  • Feb 6, 2009 9:34am Feb 6, 2009 9:34am
AUDUSD - wats the outlook like.... continue to 100% fib? or drop?
  • #8,488
  • Feb 6, 2009 9:46am Feb 6, 2009 9:46am
Quoting RedCabbage
They look good it's just the fall in JPY yesterday and all the big news today makes me nervous.

I don't trade NZDJPY I prefer AUDJPY which like many has a good set up coming. So many good levels have been broken through it's like trying to stop a train by standing in front of it.

wont be taking anymore trades this week. Actually didnt take any today just didnt know what the market wanted to do so I stayed out. But lots of trades will be available next week so that is something to look forward to. Well guess it is off to school for me then.

Good Luck guys.
  • #8,489
  • Feb 6, 2009 10:49am Feb 6, 2009 10:49am
Quoting RedCabbage
Bumasoft's Friday afternoon...


http://www.jonrb.com/emoticons/deserted.gif
LOL
  • #8,490
  • Feb 6, 2009 10:50am Feb 6, 2009 10:50am
Quoting RedCabbage
Top of the range is safest on a big news day like this. And it's best not move your stops too soon if it's a bit erratic.

No actually staying out is safest on a big news day like this.
Yeah, I will write that on my forehead!
  • #8,491
  • Feb 6, 2009 11:01am Feb 6, 2009 11:01am
Here is something to look for next week.

A very nice bullish Gartley setup on the Daily Chart of the EURGBP. Lines up well with prior resistance levels. This pair is in a downtrend now so this is counter trend. But, it could be a key reversal too. The market will tell us.

SR
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 020609.gif Size: 14 KB
  • #8,492
  • Feb 6, 2009 11:03am Feb 6, 2009 11:03am
Quoting seattlerust
Here is something to look for next week.

A very nice bullish Gartley setup on the Daily Chart of the EURGBP. Lines up well with prior resistance levels. This pair is in a downtrend now so this is counter trend. But, it could be a key reversal too. The market will tell us.

SR
Thanks Seattle very interesting as usual.

I'm off now have a great weekend everyone!
  • #8,493
  • Feb 6, 2009 5:53pm Feb 6, 2009 5:53pm
RC, I see you use IT Finance charting. How did you get that? Do you have to pay a monthly fee? (saw a demo on the internet and I really like it)

Thanks.
  • #8,494
  • Feb 6, 2009 11:16pm Feb 6, 2009 11:16pm
here is a 3 hr chart of no brainer trades for gbp/usd for review. I normally trade off lower time frame charts but I review higher time frames for strong s/r levels. gbp/usd is currently in a bullish retracement, so the sells marked 1,2 and 3 were counter trend. sell 1 worked great as price fell back to support. price touched support,formed a pin bar and was a buy.price rallied back to resistance and gave a sell signal at 2. this sell was not that great and yielded only 40 pips. the clue to exit this trade was when price bounced at the blue line which is high of last pivot acting as support--a bullish sign--sell 3 was a bad trade resulting in a loss-- hind sight shows trade should not have been taken because price was not falling back far from resistance plus pin bar was in congestion and price was showing bullish "laying bricks" pattern. the break out buy was a great signal --big bullish bar-price continued 'laying bricks" pattern and seems to be headed to next resistance level. I am flat now because I never hold trades over the weekend. Hope this chart makes some things clearer to new b's
Attached Image (click to enlarge)
Click to Enlarge Name: Chart09-aa.JPG Size: 97 KB
  • #8,495
  • Feb 6, 2009 11:24pm Feb 6, 2009 11:24pm
Quoting c-note
here is a 3 hr chart of no brainer trades for gbp/usd for review. I normally trade off lower time frame charts but I review higher time frames for strong s/r levels. gbp/usd is currently in a bullish retracement, so the sells marked 1,2 and 3 were counter trend. sell 1 worked great as price fell back to support. price touched support,formed a pin bar and was a buy.price rallied back to resistance and gave a sell signal at 2. this sell was not that great and yielded only 40 pips. the clue to exit this trade was when price bounced at the blue line...
Very nice chart. Seems to me for quite some time that trading is simple, if you stick to the rules and keep your cool (no fear, no greed). Emotions are the biggest obstacle for a noob.
  • #8,496
  • Feb 6, 2009 11:57pm Feb 6, 2009 11:57pm
Quoting bumasoft
Very nice chart. Seems to me for quite some time that trading is simple, if you stick to the rules and keep your cool (no fear, no greed). Emotions are the biggest obstacle for a noob.

u can say that again~~~~~
i blew up 33% in a day... emotions can kill~
  • #8,497
  • Feb 7, 2009 4:20am Feb 7, 2009 4:20am
Quoting Knightz
u can say that again~~~~~
i blew up 33% in a day... emotions can kill~
I'm sorry for you... I blew 43% in three months and a half since I've started. And all because of undiscipline (lack o patience, greed, fear, poor money management). We are our own obstacle. But don't worry. If you get burnt, you never touch fire again. So let's hope we've learned our lesson.
  • #8,498
  • Feb 7, 2009 4:37am Feb 7, 2009 4:37am
Quoting bumasoft
I'm sorry for you... I blew 43% in three months and a half since I've started. And all because of undiscipline (lack o patience, greed, fear, poor money management). We are our own obstacle. But don't worry. If you get burnt, you never touch fire again. So let's hope we've learned our lesson.
Indeed we can be our own worst enemy and usually folks learn best when it's the hard way. Most of us traders will go through some of the same issues you went through (some bigger or smaller). But in any case as long as one truly learns from it, the more likely that one is already on their way to success...
  • #8,499
  • Feb 7, 2009 11:03am Feb 7, 2009 11:03am
Hi guys,

it's been a while since I last posted, so I thought I came back to see what's happening here... This thread was life changing for me and I hoped I'll still find some nice posts from BRV. And speaking of BRV - where did he go?

Well, he left more than enough learning material for us, which is highly valuable, but I'd hoped he'd be still around.

Cheers!
  • #8,500
  • Feb 7, 2009 6:02pm Feb 7, 2009 6:02pm
Hey

For all those of you that have been following this thread for a long time, I was wondering, when BRV says he gets over 90% accuracy, does that figure include the trades off 5 and 15 minute charts? Or is that level of accuracy achieved only on 1 hr and 4hr?
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