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  • #11,601
  • May 20, 2009 9:06am May 20, 2009 9:06am
He must not be talking good about the US
  • #11,602
  • May 20, 2009 9:15am May 20, 2009 9:15am
I'm short the AUDUSD @ 0.7788. Looking spooky :-s
  • #11,603
  • May 20, 2009 9:17am May 20, 2009 9:17am
Quoting kk007
Thanks sam, my broker gave me a slightly different chart.
Yeah, I think that happens often. You had the right level, it was just a little overplayed. Next time
  • #11,604
  • May 20, 2009 9:19am May 20, 2009 9:19am
It looks to me like EURUSD is hitting a resistance area @ 1.3777 for the 3rd time right now. Is this a good place to go short? Any help would be great.
deg
  • #11,605
  • May 20, 2009 9:27am May 20, 2009 9:27am
Quoting questfx
It looks to me like EURUSD is hitting a resistance area @ 1.3777 for the 3rd time right now. Is this a good place to go short? Any help would be great.
I wouldnt short hourly bars that look like this.....market is moving on Geitner's comments so I'm hanging out for a while. FOMC later on today too and I wouldnt want to get caught in anything.

Again the hysteria issue I keep talking about - when its okay to fade, and when its not - something like this you're better on the sidelines if youre not long.
  • #11,606
  • May 20, 2009 9:31am May 20, 2009 9:31am
Thanks BRV. Do you have any new pending trades or areas to watch for today?
deg
  • #11,607
  • May 20, 2009 9:35am May 20, 2009 9:35am
Quoting questfx
Thanks BRV. Do you have any new pending trades or areas to watch for today?
Check the blog everything is organized there better than in the thread here you have to go digging for them......I just post the areas for learning purposes more than anything though and to prove what we do here works.

Also check twitter http://twitter.com/nobrainertrades

my ideas and intraday levels always end up there.
  • #11,608
  • May 20, 2009 9:41am May 20, 2009 9:41am
it seems that the EU blocks at 1.3790, but I did not find any level at this point, anybody know about it ?
  • #11,609
  • May 20, 2009 9:42am May 20, 2009 9:42am
Ok, I did take you up on the EURJPY when my alert/alarm went off at 3:30 am. Good call........Look forward to working with you and a system that works.
deg
  • #11,610
  • May 20, 2009 9:44am May 20, 2009 9:44am
Quoting showfish
it seems that the EU traps at 1.3790, but I did not find any level at this point, anybody know about it ?
Why any area? If markets traded up to and pivoted every level all the time I would be a billionaire .

Just slowing momentum. Also other currencies running into key areas, so it directly affects the dollar as a whole....gotta keep your eyes on correlated pairs. (UJ 95.25, UChf 1.0976, etc)
  • #11,611
  • May 20, 2009 9:45am May 20, 2009 9:45am
sd on short, then before the conference started watchingEur/Usd being sure it would test 1.3727-1.3735. When it hit it first i entered and got some 10 pis. then, decided to wait how it will react on the news. It broke the level, then 1.3750 and R2 gone, turned support. I entered long picked another 10 pips. But GBp/USD although my hands itch, I am quite scared to short cause not enough data, since I trade Oanda and check data on Alpari MT4 which moves when price moves and doe snot let me to go further in history to check S/R levels. Any idea where can I get better charting software which is nmot moving while price jumps?
Waiting for Eur/Usd to move to R3 and may be beyond. would short it for sure.
There is seems some resistance area between 1.3825-1.3850
Many thanks to BRV for great job done!
  • #11,612
  • May 20, 2009 9:47am May 20, 2009 9:47am
Quoting BillyRayValentine
Check the blog everything is organized there better than in the thread here you have to go digging for them......I just post the areas for learning purposes more than anything though and to prove what we do here works.

Also check twitter http://twitter.com/nobrainertrades

my ideas and intraday levels always end up there.
Hi BRV,

Can you give me some advice on situation like the sudden move in price about 1 hours ago? As a person no very good at fundamental, I really don't know what kind of news should I avoid.

I am trading intraday and usually would prevent "Red" news on calendar, but this one is "orange" news.

Many thanks,

007
  • #11,613
  • May 20, 2009 9:54am May 20, 2009 9:54am
Quoting BillyRayValentine
Why any area? If markets traded up to and pivoted every level all the time I would be a billionaire .

Just slowing momentum. Also other currencies running into key areas, so it directly affects the dollar as a whole....gotta keep your eyes on correlated pairs. (UJ 95.25, UChf 1.0976, etc)
Thx. I am a newbie, never think about the correlated pairs . I would watch them , thx again.
  • #11,614
  • May 20, 2009 9:55am May 20, 2009 9:55am
Quoting kk007
Hi BRV,

Can you give me some advice on situation like the sudden move in price about 1 hours ago? As a person no very good at fundamental, I really don't know what kind of news should I avoid.

Many thanks,

007
Use the FF calendar. Print it out and watch what happens to the markets for key news releases. FF rates them in terms of impact and on the whole releases are monthly and quarterly so you'll start to know what to avoid after a while. They key info is employment, infaltion and interest rates for all currencies.

For me any news that could turn my trading edge into a 50/50 coin flip is bad - I like my odds a bit higher than that!

P.S.I watch for red and orange news!
  • #11,615
  • May 20, 2009 10:03am May 20, 2009 10:03am
Quoting RedCabbage
Use the FF calendar. Print it out and watch what happens to the markets for key news releases. FF rates them in terms of impact and on the whole releases are monthly and quarterly so you'll start to know what to avoid after a while. They key info is employment, infaltion and interest rates for all currencies.

For me any news that could turn my trading edge into a 50/50 coin flip is bad - I like my odds a bit higher than that!

P.S.I watch for red and orange news!
Thanks. Yes I read the FF news rating. So, do you simply prevent holding intraday trade position during news release?

P.S. I heard that BRV teaches us to jump into the rapid price movement upon news. It is too exciting for me at the moment, just like playing skydiving!!!
  • #11,616
  • May 20, 2009 10:08am May 20, 2009 10:08am
By the way, if I have to jump into the news. What levels are best to jump for EUR/USD and GBP/USD 1-2 hours ago? Love to hear!
  • #11,617
  • May 20, 2009 10:12am May 20, 2009 10:12am
Quoting kk007
Thanks. Yes I read the FF news rating. So, do you simply prevent holding intraday trade position during news release?

P.S. I heard that BRV teaches us to jump into the rapid price movement upon news. It is too exciting for me at the moment, just like playing skydiving!!!
Quoting RedCabbage
I have learnt the hard way that trying to anticipate how the news will affect your trading day is pretty tough.

However simply using a reliable calendar (FF is fine) to make yourself aware of WHEN currencies might be affected by news is good defence. Remember news won't necessarily scupper your trades it is often the catalyst that sends a pair off in the direction you had expected so it can pay to look into summary reports of what the market expects to help you decide whether you should expect any reaction.

I may not enter a trade close to big...
It's all in this thread just search for news.
  • #11,618
  • May 20, 2009 10:14am May 20, 2009 10:14am
Quoting bumasoft
Anyone looking to short the Aussie near 0.7800 ?
Didn't expect this level arrived so quick. Will see what happen.
  • #11,619
  • May 20, 2009 10:15am May 20, 2009 10:15am
Quoting kk007
Thank Big. Yes. I read through the summary pdf.
I am more convinced that .5500 and .5534 are two separated S/R than a single S/R zone, IMO. 34pip range seems a bit too large. And in Dec 08. .5500 and .5534 was treated as S/R separately on H1. I means it seems that there weren't good price action signify the .5500 this time.
I think it really helps to enlarge what your idea of an S/R zone is, especially when there's been numerous 'levels within levels' hit, i.e. very specific prices (in your example 5500 and 5534) that had previous bounces in a relatively small range. Consider the average volatility and range of the GU, and I would probably consider two levels 30 pips apart all part of the same range. With that pair, I'd probably consider levels even 50 pips or more apart within the same range. Trying to pinpoint a level is nice, but more often than not price is going to stop a little short or go a little past your specific level, and if you are trying to essentially predict every level every time you are going to be missing a lot of trades.
  • #11,620
  • May 20, 2009 10:16am May 20, 2009 10:16am
Quoting RedCabbage
It's all in this thread just search for news.
Cheers RedCab
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