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  • #11,141
  • Apr 28, 2009 3:42am Apr 28, 2009 3:42am
I've shorted off the 96.00 level, felt that it violated the support and has gone back to test it. Will cut it if PA suggests a return to higher levels.
  • #11,142
  • Apr 28, 2009 4:09am Apr 28, 2009 4:09am
As someone still getting to grips with this method I think the current price action really tests the method.
Price has been flirting around 96 for a couple of hours or so now without momentum. Does this not contradict one of the main criteria of billyray's and invalidate any further trades?
  • #11,143
  • Apr 28, 2009 4:17am Apr 28, 2009 4:17am
Quoting flipflopfish
I've shorted off the 96.00 level, felt that it violated the support and has gone back to test it. Will cut it if PA suggests a return to higher levels.
Still resisting at 96.05, a break of this would make me consider an exit
  • #11,144
  • Apr 28, 2009 4:39am Apr 28, 2009 4:39am
Yes
Looks like 96-96.05 has become a price pivot zone
  • #11,145
  • Apr 28, 2009 5:02am Apr 28, 2009 5:02am
Quoting flipflopfish
Still resisting at 96.05, a break of this would make me consider an exit
Closed at 96.09 with a 9 pip loss
  • #11,146
  • Apr 28, 2009 5:25am Apr 28, 2009 5:25am
the gbpusd came off the 524 line and if anyone took it I would put a stop under579 line and ride it up to652 or close.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 20 KB
  • #11,147
  • Edited Apr 29, 2009 1:52am Apr 28, 2009 5:50am | Edited Apr 29, 2009 1:52am
Cracker of a flag on the Swissy.. (and E$)
(1) B/O downside
(2) Flat for 140
  • #11,148
  • Apr 28, 2009 7:46am Apr 28, 2009 7:46am
Hi BRV,

I am very glad that you are back.

I am looking to go short @ 56.20 NZD/USD.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 18 KB
  • #11,149
  • Apr 28, 2009 9:17am Apr 28, 2009 9:17am
EJ at a resistance area....
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 59 KB
  • #11,150
  • Apr 28, 2009 9:18am Apr 28, 2009 9:18am
Quoting ishacm
I am looking to go short @ 56.20 NZD/USD.
I'm short at 56.15
  • #11,151
  • Apr 28, 2009 9:36am Apr 28, 2009 9:36am
Quoting PLooB
I'm short at 56.15
Taken 20pips and SL at BE.

Letting this one run.
  • #11,152
  • Apr 28, 2009 9:44am Apr 28, 2009 9:44am
Quoting PLooB
I'm short at 56.15
I hope you dont mind this comment. But taking the trade you did is risky. It sits in the middle of nowhere really. If you look for really strong areas that have travelled a way, you have put more odds in your favour. Areas like 5739, or 5523. There is more chance of the trade working if it has travelled out a bit further. You have less chance there and less pips to target for also. If you look between 5631 and 5523 it has been ranging and so the possibility of it stopping with small amount of pips of more likely than if you took a sell from higher up. Just my opinion. Hope you dont mind the comment
  • #11,153
  • Apr 28, 2009 10:15am Apr 28, 2009 10:15am
Several short term levels coming up on the EUR/USD for shorts, 1.309-1.303. Curious if anyone is taking notice?
  • #11,154
  • Edited 12:03pm Apr 28, 2009 10:26am | Edited 12:03pm
Shorted that one at 1.3086. Could be more than a short term, in my opinion.

Edit : wooops, I don't like that... H1 just closed above 1.3095, which is a major 50% Fibonacci retracement.
  • #11,155
  • Apr 28, 2009 1:36pm Apr 28, 2009 1:36pm
Discussion anyone? Considered a bucket? In addition to resistance highs & 61.8% fibs

http://i24.photobucket.com/albums/c2...ex/eu42809.jpg
  • #11,156
  • Apr 28, 2009 2:43pm Apr 28, 2009 2:43pm
Ahhhh I cant see your charts sam! my work blocks photobucket and other things like that... so I cant see anything!
  • #11,157
  • Apr 28, 2009 3:07pm Apr 28, 2009 3:07pm
Potential bounce here in the 1.14 range?
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_h1_090428.gif Size: 16 KB
  • #11,158
  • Apr 28, 2009 3:16pm Apr 28, 2009 3:16pm
Quoting Concept
Ahhhh I cant see your charts sam! my work blocks photobucket and other things like that... so I cant see anything!
Sorry about that Concept, I'll try the attachment route.

It's not worth much as we're all hindsight now... :

*I had to shrink it down a little bit, was over the limits*
Attached Image
  • #11,159
  • Apr 28, 2009 3:32pm Apr 28, 2009 3:32pm
Quoting vijay s.
Potential bounce here in the 1.14 range?
Sure does seem like a potential for a bounce, working with the EUR/USD being at resistance, however the level doesn't seem as clear as I would like it.

1.139-1.114 looks like a decent area, especially if it slowly develops over the next few hours to mate up with the trend line.

As far as NBT, I don't know...which likely defaults to "No"

More so, I'm not thrilled with the EUR/USD & USD/CHF run the last couple of days...I would have liked to see the EUR push down a little below 1.29 (to touch lows/lower lows) and the USD/CHF to push up to 1.175 (touch highs/higher highs) before correcting. Instead, we saw a quick shot in one direction and an immediate roll back in the opposite direction, putting us a more narrow range and, IMO, inhibiting the trend some.

One last thought, what about taking a look at the EUR/USD as opposed to the USD/CHF? They usually move in close fashion and at least to me, the EUR/USD levels look a little more clear.
  • #11,160
  • Apr 28, 2009 3:37pm Apr 28, 2009 3:37pm
Quoting sam0182
[color=black][font=Verdana]Sure does seem like a potential for a bounce, working with the EUR/USD being at resistance, however the level doesn't seem as clear as I would like it....
Indeed, I don't know if that USD/CHF is a clear level. Definitely not an A+ trade.

I was just looking at E/U and I think there is a much clearer level we are close to. See attachment-- may get a reaction if we come down to 1.3122 again.

I'm still learning, so I appreciate your thoughts & commentary!
Attached Image (click to enlarge)
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