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No Brainer Trades

  • #9,761
  • Mar 17, 2009 4:50am Mar 17, 2009 4:50am
I'm watching these

AUDUSD - long 0.6553

USDCAD - long 1.2542 (waiting for TL to break)

GBPUSD - long 1.3989

EURGBP - long 0.9082


I have never posted a screenshot so I will try to post USDCAD
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_17032009.gif Size: 26 KB
  • #9,762
  • Mar 17, 2009 5:14am Mar 17, 2009 5:14am
Quoting fisu
I'm watching these

AUDUSD - long 0.6553

USDCAD - long 1.2542

GBPUSD - long 1.3989

EURGBP - long 0.9082
AUSUSD - Not sure about that one

USDCAD - Nice

GBPUSD - I prefer the look of 13950

EURGBP - Agreed
  • #9,763
  • Mar 17, 2009 5:25am Mar 17, 2009 5:25am
I got out of my eurusd trade for a small profit, and was glad to do it. Should never have gone into it in hindsight, moving too slow, and it was already at a high level. I consider myself lucky it went nowhere much for ages and then the little push up.
  • #9,764
  • Mar 17, 2009 6:19am Mar 17, 2009 6:19am
Quoting Tori
I got out of my eurusd trade for a small profit, and was glad to do it. Should never have gone into it in hindsight, moving too slow, and it was already at a high level. I consider myself lucky it went nowhere much for ages and then the little push up.
Would you go back in at 1.2958 - or do you think that level is played out for the time being?

G
  • #9,765
  • Mar 17, 2009 6:31am Mar 17, 2009 6:31am
Hi Grath. To be honest, I am not looking to touch anything for some time. You really have to wonder if it is dangerous when things are moving so slowly because in my opinion there is no bounce, no speed up to a line, just a lot of waiting for some reason. Maybe there is some announcement being waited on, who knows, I am not that good at fundamentals, but I usually hit the lines fine when things are moving, and I usually find the problems occur when things are so slow. I am going to wait to see either a good drop maybe even down as far as 875. Or a good rise to drop down from. This has been playing the middle ground for so long that any direction picked from here does not give the advantage of a possible big run, and I dont think it is worth taking a trade for a small run. Sorry long winded. I feel the usdcad you guys are discussing from 546 is a better option and I will wait for that.
  • #9,766
  • Mar 17, 2009 6:38am Mar 17, 2009 6:38am
Quoting Tori
Hi Grath. .... Sorry long winded. ......
Hey, don't apologise, please. I'm here to learn. The more you tell me, the more chance there is that a bit of it will get into my thick head.

Thanks for the insight.

G
  • #9,767
  • Mar 17, 2009 6:39am Mar 17, 2009 6:39am
I will just say a little further to the above. Some days there are trades all over the place and if you have marked out your lines properly, and dont jump out too soon, you can pick up a lot of pips. I got 170 last night off a couple of trades. Then there are other days when I know darn well there is no good moves, but I will look and look for a trade because I just have to do it. I did that earlier and was lucky to get out. Common sense would have said nothing was there. It is not worth blowing time and money by over trading. I now mostly only take a trade when it has gone a long way in either direction so it can rickashay back and give me a chance. I havent lost even one of my last 10 trades so it works. And it works because as long as you take the obvious the odds are on your side. Look at all these charts, and really ask if there is anything obvious. Not for me tonight. You guys will probably get something later, but where I live I will miss what might happen in the new york.
  • #9,768
  • Mar 17, 2009 6:42am Mar 17, 2009 6:42am
Quoting Tori
Hi Grath. To be honest, I am not looking to touch anything for some time. You really have to wonder if it is dangerous when things are moving so slowly because in my opinion there is no bounce, no speed up to a line, just a lot of waiting for some reason. Maybe there is some announcement being waited on, who knows, I am not that good at fundamentals, but I usually hit the lines fine when things are moving, and I usually find the problems occur when things are so slow. I am going to wait to see either a good drop maybe even down as far as 875. Or...
A very level headed view of the market Tori.

FF calendar shows us that US Building Permits and PPI figures are due in an hour these along with NY open should shake things up a little. Which isn't much help to you as you'll be off to bed!
  • #9,769
  • Mar 17, 2009 6:49am Mar 17, 2009 6:49am
I am learning also. I would just like to share something I do, and wonder if anyone else does same. I have 6 different pairs set up on my screen and I guage whether I will go into my chosen chart based on what some of the others are doing also. For instance if the usd is gaining against the chf, jpy, gbp, then I would definately not take a buy on the euro even if it is at one of my lines. I can also guage whether my pair might actually move far enough to make some pips, because if all the others are chances are it will. Tonight I can see that none of them are moving so I know any trade would most likely not move much.
  • #9,770
  • Mar 17, 2009 8:49am Mar 17, 2009 8:49am
Quoting RedCabbage
AUSUSD - Not sure about that one

USDCAD - Nice

GBPUSD - I prefer the look of 13950

EURGBP - Agreed
Thanks for the comments. My lower level for GBPUSD was 13955 but I decided to go for 13989 (which I just missed because I was not around)

AUDUSD - I deleted it ones and then put it back so I guess that I was not so sure either but I will keep the limit order on it for now.
  • #9,771
  • Mar 17, 2009 9:20am Mar 17, 2009 9:20am
Quoting fisu
Thanks for the comments. My lower level for GBPUSD was 13955 but I decided to go for 13989 (which I just missed because I was not around)

AUDUSD - I deleted it ones and then put it back so I guess that I was not so sure either but I will keep the limit order on it for now.
You'll get a reaction of some sort from almost every s/r level, but which ones will be the best?

13950 is a 50Fib

13877 is a 61Fib
  • #9,772
  • Mar 17, 2009 9:52am Mar 17, 2009 9:52am
13989 is looking good now. It almost picked up my 13950 (+10) entry too.
  • #9,773
  • Mar 17, 2009 12:49pm Mar 17, 2009 12:49pm
entered at .3984, took 44 pips using a trailing stop,still believe this one has got some more upside though,but as ironman will put it pips=real money
  • #9,774
  • Mar 17, 2009 12:49pm Mar 17, 2009 12:49pm
I wasn't looking for trades there, but the bounce (3963) coincides almost perfectly with a long-term SR line I have placed there, which is also a 50 fib of a "partial" wave (the wave from 3/12).
  • #9,775
  • Mar 17, 2009 1:02pm Mar 17, 2009 1:02pm
1.2667 Has Been A Good Rejection Level For Me Have Made Money Of That Support Twice Already And There Was Still A Bounce Closeby Today, I Did Nt Take The Trade Cos I Believe The Level Is Gradually Getting Weak And Am Ready For A Breakout Of That Level Whenever It Happens,keep Looking
  • #9,776
  • Mar 17, 2009 1:15pm Mar 17, 2009 1:15pm
i totally missed my aud/nzd trade had a support line drawn at 2416,that has been good for 50pips, should have set an alarm,keep looking
  • #9,777
  • Mar 17, 2009 2:04pm Mar 17, 2009 2:04pm
Quoting pastork
i totally missed my aud/nzd trade had a support line drawn at 2416,that has been good for 50pips, should have set an alarm,keep looking
Not rubbing it in at all, but I caught that move for about 50 pips. I posted a chart a couple pages back.

Glad to know we're on the same frequency here.
  • #9,778
  • Mar 17, 2009 2:11pm Mar 17, 2009 2:11pm
Anyone feeling longs around the blue line? A bit of an unusual pair but the setup looks good.
Attached Image (click to enlarge)
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  • #9,779
  • Mar 17, 2009 3:50pm Mar 17, 2009 3:50pm
Quoting G550
Anyone feeling longs around the blue line? A bit of an unusual pair but the setup looks good.
I was watching it for a while, yea, i think this lvl will work for a good scalp
  • #9,780
  • Mar 17, 2009 3:52pm Mar 17, 2009 3:52pm
Quoting G550
Anyone feeling longs around the blue line? A bit of an unusual pair but the setup looks good.
I don't think I could trade that on FXCM.
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