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No Brainer Trades

  • #10,361
  • Apr 1, 2009 2:35am Apr 1, 2009 2:35am
Quoting Tori
eurjpy. My next buy in level is 129.33. Unless it drops that far it is going sideways. I think it is possible because the usdjpy needs a little drop and the euro is weak as well. That is all I am looking at tonight.
Support at 12933 looks strong. Below that 12855 is a daily s/r and the 61fib of the rally of the last 2 days.
  • #10,362
  • Apr 1, 2009 2:48am Apr 1, 2009 2:48am
Quoting aorafx
Hi all, I'm new here.
I hope all the best for you in trading and congratulations for the excellent thread!

I have taken a short on EURGBP @ 0.9234 target 0.9170 and SL currently @ BE.
Below is the chart as I see it.
I was a few pips late in the entry.
My initial SL was 0.9260

Best to all
AO
I like that trade.
Got in at 37 after the wedge broke. Not sure if thats how you played it. I just closed the thing out.
  • #10,363
  • Apr 1, 2009 3:05am Apr 1, 2009 3:05am
Is the 1.4338/1.4376 area a good sellzone
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  • #10,364
  • Apr 1, 2009 3:11am Apr 1, 2009 3:11am
Just putting my 2 cents worth in. You ask if it is a good sell zone. Might it not also be a good breakout zone for a buy. If you are thinking of sell, you will look for sell, and you may miss buy. No one can know which way it will go, only that it is a reaction area and you need to look at your lower timeframes to see movement as well as what other charts are doing.
  • #10,365
  • Apr 1, 2009 3:31am Apr 1, 2009 3:31am
Looking for a breakout retest, or for it to pull back into the range.
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  • #10,366
  • Apr 1, 2009 3:47am Apr 1, 2009 3:47am
Quoting aorafx
....
I have taken a short on EURGBP @ 0.9234 target 0.9170 and SL currently @ BE.
...
This one worked well
  • #10,367
  • Apr 1, 2009 4:22am Apr 1, 2009 4:22am
Quoting Tori
Just putting my 2 cents worth in. You ask if it is a good sell zone. Might it not also be a good breakout zone for a buy. If you are thinking of sell, you will look for sell, and you may miss buy. No one can know which way it will go, only that it is a reaction area and you need to look at your lower timeframes to see movement as well as what other charts are doing.
Why the name of the tread is No brainer. It looks there is a lot of things to consider, not just S/R levels........lower timeframes, correlation with other pairs, news, market sentiment ....?
alter
  • #10,368
  • Apr 1, 2009 4:28am Apr 1, 2009 4:28am
Quoting alter
Why the name of the tread is No brainer. It looks there is a lot of things to consider, not just S/R levels........lower timeframes, correlation with other pairs, news, market sentiment ....?
alter
We look for No Brainers. Not every s/r trade is one.
  • #10,369
  • Apr 1, 2009 4:30am Apr 1, 2009 4:30am
Quoting alter
Why the name of the tread is No brainer. It looks there is a lot of things to consider, not just S/R levels........lower timeframes, correlation with other pairs, news, market sentiment ....?
alter
Because this is simply as easy as it will get
  • #10,370
  • Apr 1, 2009 4:31am Apr 1, 2009 4:31am
I didnt choose the name. It most likely refers to the S/R levels than can be seen by absolutely anyone. And anyone can take a trade off those levels too, and win some of the time. But if you want to become professional and win more than some of the time, then you have to consider a lot of things. Those things are spoken about by the senior traders who are always there with info, and I myself listen to everyones opinions. If trading was a no brainer then everyone would be doing it, and everyone would be rich. If you compare this strategy to the myriad of indicators out there, which are all lagging, and often confusing, then in comparrison this is a no brainer.
  • #10,371
  • Apr 1, 2009 4:39am Apr 1, 2009 4:39am
Quoting c49
Is the 1.4338/1.4376 area a good sellzone
Hey guys it was just a question to test my skills in identifying correct levels
No need to make a lot of fuss about it.
Cable is a not so easy currency sometimes , still think that it has to come down.
I had no intention of shorting it at that level , nor will I buy a retest.
  • #10,372
  • Apr 1, 2009 4:44am Apr 1, 2009 4:44am
Well, but you can not backtest this strategy, you don't know what was market sentiment 1 year ago, what news was released, what was the correlation with other pairs. How did you test this strategy, please?
  • #10,373
  • Apr 1, 2009 4:50am Apr 1, 2009 4:50am
Quoting alter
Well, but you can not backtest this strategy, you don't know what was market sentiment 1 year ago, what news was released, what was the correlation with other pairs. How did you test this strategy, please?
You cannot backtest it , but if you see the result BRV had with his calls made in this thread , its obvious that this is something near perfect , still it may take a lot of time to have the same skill as BRV.
  • #10,374
  • Apr 1, 2009 4:51am Apr 1, 2009 4:51am
Quoting alter
Well, but you can not backtest this strategy, you don't know what was market sentiment 1 year ago, what news was released, what was the correlation with other pairs. How did you test this strategy, please?
You can never get the real deal out of backtesting compare to live. The only thing you can practice is look at the major levels and thats it. Future test with a demo account and pay attention to everything.
  • #10,375
  • Apr 1, 2009 5:00am Apr 1, 2009 5:00am
Ok, so I would like to post some charts from time to time if you don't mind.
Thank you
  • #10,376
  • Apr 1, 2009 5:20am Apr 1, 2009 5:20am
eurusd trade taken from line. target 1.3327. While it is over my line I will stay in it.
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  • #10,377
  • Apr 1, 2009 5:23am Apr 1, 2009 5:23am
Here is a trade I am looking to take...

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  • #10,378
  • Apr 1, 2009 5:37am Apr 1, 2009 5:37am
Quoting Shermenator
Here is a trade I am looking to take...

Attachment
Care to explain? I dont see any S/R or Fibs ...
  • #10,379
  • Apr 1, 2009 5:42am Apr 1, 2009 5:42am
Quoting Shermenator
Here is a trade I am looking to take...

Attachment
Sherm you keep amazing me in picking your levels.
  • #10,380
  • Apr 1, 2009 5:52am Apr 1, 2009 5:52am
I am now sort...I will watch price action and based on the reaction I will decide how to manage it...

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