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No Brainer Trades

  • #11,401
  • May 13, 2009 8:38am May 13, 2009 8:38am
Hello thread, Billy Ray, my hat off to you, i have been reading a lot of your material recently, thank you.

Would a long around this price qualify as a NoBrainer?
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  • #11,402
  • May 13, 2009 10:52am May 13, 2009 10:52am
Quoting RedCabbage
This reaction is why it is worth keeping an eye on what is coming up.
Yeah, that was a good call. GU hit +50 on my London open trade before the retrace and I got stopped out at breakeven unfortunately, and I never woke up again to try to re-trade it. Right direction, wrong time-- would've been wise to listen to you

I do like that London open though, like I said I think I'm going to start to trade it quite often.
  • #11,403
  • May 13, 2009 12:32pm May 13, 2009 12:32pm
Quoting smittens4212
Yeah, that was a good call. GU hit +50 on my London open trade before the retrace and I got stopped out at breakeven unfortunately, and I never woke up again to try to re-trade it. Right direction, wrong time-- would've been wise to listen to you

I do like that London open though, like I said I think I'm going to start to trade it quite often.
There is often a difference in sentiment between the sessions. Think of it this way, the NY traders came to their screens yesterday and said wow GBPUSD is really high, what a great place to sell from! Similarly London open can bring a lot of new traders that will go in the opposite direction to the Asian session if price has been pushed high or low enough. I look for a push just before London open that tells me someone is trying to get the best price at the open.

Regarding the calls, I just imagine what my ideal set up would be given the market position and see how close it will actually get.

The argument about the validity of a double top the other day was completely unecessary, patterns are rarely perfect like our H&S on cable yesterday.
  • #11,404
  • May 13, 2009 2:50pm May 13, 2009 2:50pm
Not sure if 129.85 was really strong enough to fade here ?
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  • #11,405
  • May 13, 2009 4:30pm May 13, 2009 4:30pm
Quoting rich0020
Not sure if 129.85 was really strong enough to fade here ?
This level certainly has some history behind it. One thing that you might note though, is that all those touches were as support. It seems, and BRV has mentioned this, a level is stronger if it has acted as boith support and resistance in the past. For instance, take alook at 129.25 on the 4H chart.

SR
  • #11,406
  • May 13, 2009 4:48pm May 13, 2009 4:48pm
Quoting rich0020
Not sure if 129.85 was really strong enough to fade here ?
Hey! Don't discount the setup, we are playing a probablities game here. One thing to note, I've included a 5 min chart and you can see that price came back to 130 to give you a change to bail at minimal loss. This happens often on the ones that don't hold, so if you haven't been stopped out then look for this. Please don't confuse this with sustaining a little bit of draw down in your levels, although with the levels you should be taking price shouldn't stay there for too long.

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  • #11,407
  • May 13, 2009 7:52pm May 13, 2009 7:52pm
Morning,

Well usd/jpy broke nicely. Now go out there and play around a bit.

First target 9490 area.
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  • #11,408
  • May 13, 2009 7:56pm May 13, 2009 7:56pm
Hi everyone,
check this nice long coming up on the aud/jpy around 70.30. It's looks like a real no brainer.
By the way I follow this thread from day one and it's good to see you're back BRV, I never thank you enough for the knowledge you share with us.
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  • #11,409
  • May 14, 2009 1:39am May 14, 2009 1:39am
http://donmillerjournal.blogspot.com...mboo-tree.html
  • #11,410
  • May 14, 2009 3:47am May 14, 2009 3:47am
Quoting dadacomputer
http://donmillerjournal.blogspot.com...mboo-tree.html
That's sappy, tearjerking and touching,

but inspiring and true (for some people, others never learn!).

I like it. Thanks dada!
  • #11,411
  • May 14, 2009 3:50am May 14, 2009 3:50am
Quoting cesare76fx
Hello thread, Billy Ray, my hat off to you, i have been reading a lot of your material recently, thank you.

Would a long around this price qualify as a NoBrainer?

Hi cesare, sorry took me so long to respond. I think Ive generally found that backward bounces off of broken trendlines are usually good only the first time around, but that's just me. I dont trade them alot, but they do work very often, especially the bigger ones like this (on the first hit). I dont discount them alltogether.
  • #11,412
  • May 14, 2009 3:57am May 14, 2009 3:57am
By the way, today is the one year mark since I started this thread.

We're also about to hit 1 million views on the same day.

WEIRD OR WHAT???!!!

I think so. Dinner on ForexFactory? Twee, Merlin, how 'bout it?

(PS - I realize that most people could give a crap less, and that's okay )


.
  • #11,413
  • May 14, 2009 4:00am May 14, 2009 4:00am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting BillyRayValentine
By the way, today is the one year mark since I started this thread.

We're also about to hit 1 million views on the same day.

WEIRD OR WHAT?!

I think so.



Well done BRV!!

I don't really post in this thread, but read it every day, and have read the .pdf many times.

Awesome!...


Magnus
  • #11,414
  • May 14, 2009 4:01am May 14, 2009 4:01am
congrats steve!


Quoting BillyRayValentine
By the way, today is the one year mark since I started this thread.

We're also about to hit 1 million views on the same day.

WEIRD OR WHAT???!!!

I think so.

(PS - I realize that most people could give a crap less, and that's okay )


.
Boxing clever since 76.
  • #11,415
  • May 14, 2009 4:11am May 14, 2009 4:11am
Cheers to a great thread and great work!
  • #11,416
  • May 14, 2009 4:13am May 14, 2009 4:13am
Quoting BillyRayValentine
By the way, today is the one year mark since I started this thread.

We're also about to hit 1 million views on the same day.

WEIRD OR WHAT???!!!

I think so. Dinner on ForexFactory? Twee, Merlin, how 'bout it?

(PS - I realize that most people could give a crap less, and that's okay )


.
Congratulations!
  • #11,417
  • May 14, 2009 4:46am May 14, 2009 4:46am
Quoting BillyRayValentine
Hi cesare, sorry took me so long to respond. I think Ive generally found that backward bounces off of broken trendlines are usually good only the first time around, but that's just me. I dont trade them alot, but they do work very often, especially the bigger ones like this (on the first hit). I dont discount them alltogether.
Thank you very much for answering, it does make sense now. Although it went down, I took a long on the first or second touch, and it bounced 30pips up before the move down, so all in all, not too bad, but I'll keep in mind your precious advice.

Congratulation for the thread birthday
  • #11,418
  • May 14, 2009 4:47am May 14, 2009 4:47am
Quoting BillyRayValentine
By the way, today is the one year mark since I started this thread.

We're also about to hit 1 million views on the same day.

WEIRD OR WHAT???!!!

I think so. Dinner on ForexFactory? Twee, Merlin, how 'bout it?

(PS - I realize that most people could give a crap less, and that's okay )


.
Well done and THANK YOU BRV and all who have kept it alive and flourishing (through some seriously dark months last year, I might add).

Here's to the next million.
  • #11,419
  • May 14, 2009 4:50am May 14, 2009 4:50am
Quoting Mushwedu
Well done and THANK YOU BRV and all who have kept it alive and flourishing (through some seriously dark months last year, I might add).

Here's to the next million.
hahahaha...yes I wont deny I was lights out for a while.
  • #11,420
  • May 14, 2009 5:01am May 14, 2009 5:01am
That deserves a

http://www.jonrb.com/emoticons/MexWave.gif

and a

http://www.jonrb.com/emoticons/beerchug.gif

and a

http://www.jonrb.com/emoticons/kneelsuckers.gif
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