No Brainer Trades

Off thread? It's a clear resistance level, and I thought S/R trading was what this thread was about. If my interpretation of it is slightly wider than accepted, let me know. Sorry to say, but to me, playing highs/lows to the pip isn't trading. I try to focus on what the charts represent. And when it comes to flows into/out of currencies, such as GBP during the Asian session, I have a screen with 4H charts for all the crosses, and with a 1-period SMA of the 4H pivot shifted to the right. So in answer to your question: The GBP crosses had all been closing beneath the 4H pivots. In addition, the big sell order at the Tokyo fix revealed what people have on the order books, and similarly for the crosses.

Hope that helps.

Thank you for your help

any one looking at a buy for 9550?

...well went to hit the buy button at 9551 and my platform froze...

I was in at 95.52, targetting 96.08. Stopped out at BE though.

It doesn't look like we'll get much action until news release. I wonder what Geithner is saying over in China this morning?

Bumasoft, are you trading from home or from company's office?

Opening trades before news releases??? Wow.
I guess you company has some statistical data to support the way they trade.

where are you trading?

Buma is in a training program.

I suspect the rules they are applying to the demo account are designed to get the trainees used to multiple trade management.

And learning to accept losses.

Apologies for not posting this in real time, I was busy elsewhere.

Touch and go for a while but I got in early enough to be at b/e before the news.

Here is something coming up ....we will probably get a couple of reactions of this levels while large orders get filled....

To start with, thanks all the people here who tell the truth about forex and give warm hearted help I got one question about the option barrier Could any member please tell me where I could get the option barrier and expiry information? Thanks a lot for your kind advice.

Geithner comes through again. Whenever deflation seems to want to creep in, he steps in to make sure the dollar gets inflated into orbit:

http://finance.yahoo.com/news/Geithn...4&asset=&ccode=

He's going to the heart and is convincing China to help rebuild the bubble. My dollar shorts thank him.

I like that 1.4365 range, dates back to weekly Jan 08 support, December 08 resistance high (as you pointed out).

chart

There is always a bit of apprehension when a bull run has hit its thrusters after a few weeks break and people start worrying how long it will last fearing the bull run is at its end etc etc. For newbies I think this causes a lot of fear and with this fear it makes it difficult to go with the larger trend due to thinking it is maybe time to reverse.

Its difficult enough for newbies to trade both long and short intraday, unless you are experienced even with this simple method. The psychology of when to go long or short will surely play much more with the emotions than if you were to trade one way. 'Which way' to trade, seems to be precisely the difficulty newbies have with this simple method, especially when experiencing the type of volatility that we have had the last couple of days prompting fears of a reversal.

Luckily, there is a simple solution. Trade One way!

Even if you are trading on the wrong side of the trend, short term or long term, with this method you will take home those pips. As long as you choose your SR levels wisely you will be taking home the pips with a fade against the trend, and the potential for more pips with the trend. The other key aspect of course is to manage the trade correctly.

Morning.

Still holding onto my Eur/Gbp although it's a slow one at the moment. And I'm considering another short entry on the cad if 10780 gets taken out on a third run down to it.

...still a ways out but I've placed my call alerts to check it out as we get closer.

http://i24.photobucket.com/albums/c2...udusdjune2.jpg

I'm going for the higher of these marked lows because I have a feeling that if price makes it way down to the lowest low, its likely to break and continue into the 76.4 retracement area. Anyway, its an area that's going to be noticed, but its countertrend.

here on USD/JPY - looking like it wants to go....also marked up on the chart are my bigger areas for this pair at the moment.

I dont like posting stuff this far in advance but I dont want to forget about it either, so here it is.....bottom of the bucket and overall a very strong zone historically....that is, if it ever drops down there again.