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No Brainer Trades

  • #13,001
  • Aug 19, 2009 8:57am Aug 19, 2009 8:57am
thanks fooseless,
quick trade on usdcad .. didnt have time to put up daily chart for resistance .. just got home from work .. resistance was 1.113 on daily missed that , notice large volume selling pressure bar on 5min , so waited for pullback to 62/76 % retracement to enter . shot off like a rocket!.. lucky on the timing.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 19 KB
  • #13,002
  • Aug 19, 2009 9:30am Aug 19, 2009 9:30am
Quoting foosless
If you look at a 1hr chart you'll see the market closed around there for the high of the 14th and bounced off of it a couple times throughout the last few days
haha i typo but anw i mean "may i ask"

thanks for e reply but its really e resistANCE that cause e large drop
  • #13,003
  • Aug 19, 2009 10:13am Aug 19, 2009 10:13am
Same as yesterday, the gift that just keeps on giving.......
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1hr.gif Size: 15 KB
  • #13,004
  • Aug 19, 2009 10:24am Aug 19, 2009 10:24am
Interceptor.. haha, Happy Trading!

Quoting Interceptor
Same as yesterday, the gift that just keeps on giving.......
  • #13,005
  • Aug 19, 2009 10:31am Aug 19, 2009 10:31am
Quoting Interceptor
Same as yesterday, the gift that just keeps on giving.......
nice chart .. looks like u caught the top and i got the seconds !
  • #13,006
  • Aug 19, 2009 10:36am Aug 19, 2009 10:36am
HI BR,

My name is Deon du Preez (fddup) in South Africa. I have only very recenly signed as member with Forex Factory. I have been (trying) trading for 3 years now, mostly on commodity spreads, and are checking out the Forex, but still feel like a beginner. I have had big up's (don't mind that) and BIG down's, but still manging to survive.

Thank you for your posting - I will certainly investigate.

Cheers

D
  • #13,007
  • Aug 19, 2009 10:41am Aug 19, 2009 10:41am
Quoting booker66
nice chart .. looks like u caught the top and i got the seconds !
Never the top, but the break of the green 'high' bar on the way down.

USD/JPY may be worth watching at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily.gif Size: 30 KB
  • #13,008
  • Aug 19, 2009 10:48am Aug 19, 2009 10:48am
Quoting booker66
thanks fooseless,
quick trade on usdcad .. didnt have time to put up daily chart for resistance .. just got home from work .. resistance was 1.113 on daily missed that , notice large volume selling pressure bar on 5min , so waited for pullback to 62/76 % retracement to enter . shot off like a rocket!.. lucky on the timing.
Attachment
very good explanation, thank you.
  • #13,009
  • Aug 19, 2009 11:41am Aug 19, 2009 11:41am
cheers intercepter ..
were in that area again for usdchf , looks like it could bounce back a bit .. anyone looking .. markets hot at the moment!! only drawback
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 19 KB
hi, qwerty welcome
  • #13,010
  • Aug 19, 2009 11:54am Aug 19, 2009 11:54am
Quoting booker66
cheers intercepter ..
were in that area again for usdchf , looks like it could bounce back a bit .. anyone looking .. markets hot at the moment!! only drawback
Attachment hi, qwerty welcome
I've been watching this one but as it's such a wide range, I was hoping for a little lower entry and would have to cut my trading size in half to allow for some wiggle room...not very clean but a definite area for a bounce. I was trying to match it up with an area of reisistance on the EUR/USD but couldn't find much...
  • #13,011
  • Aug 19, 2009 12:08pm Aug 19, 2009 12:08pm
Quoting booker66
cheers intercepter ..
were in that area again for usdchf , looks like it could bounce back a bit .. anyone looking .. markets hot at the moment!! only drawback
Attachment hi, qwerty welcome
It is looking promising.......
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdaily.gif Size: 24 KB
  • #13,012
  • Aug 19, 2009 12:37pm Aug 19, 2009 12:37pm
took the trade on .. 20 point stop with a low stake..

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf5min.gif Size: 12 KB
  • #13,013
  • Aug 20, 2009 2:23pm Aug 20, 2009 2:23pm
hello, managed to take a few pips off the last impetious trade ..got out at the first resistance 1.0670 level for 22 pips .. bit lucky for jumping in rashly .. any one looking at any levels ?
Attached Image (click to enlarge)
Click to Enlarge Name: Noname.gif Size: 18 KB
  • #13,014
  • Aug 20, 2009 2:56pm Aug 20, 2009 2:56pm
Heya Booker,

I'm watching EUR/USD 1.433ish, should flow well with the USD/CHF lower supports at 105.75.

http://i24.photobucket.com/albums/c2.../th_eusell.jpg
  • #13,015
  • Aug 21, 2009 12:08am Aug 21, 2009 12:08am
Hi Steve and all fellow traders...

It had been a while since I have visited FF due to relocation from Australia back to India. Just wanted to convey my sincere regards and thanks to Steve and all my fellow traders for this wonderful concept. I also take a chance to share my second account success on DEMO practising the same strategy being discussed here. I could manage to turn USD 1000 again into greater than USD 3000 for the second time in a row and now I am set for my final DEMO account which will then be followed by LIVE trading. Although my second DEMO took me a while, almost 25 days but I am fine with that as it never let me down on my confidence. Thanks once again everyone.

Good day...
Yusuf SHAIKH
Its Time to Change the Ratio Skype: NoWorriesTraders
  • #13,016
  • Aug 21, 2009 6:46am Aug 21, 2009 6:46am
please could anyone explain to me vividly how to setup and use FINOBACCI RETRACEMENT.
I will also appreciate it if anyone can give me any indicator that can help me more.
I am new here.
Thanks to all in anticipation.
  • #13,017
  • Aug 21, 2009 10:47am Aug 21, 2009 10:47am
Quoting komkom
please could anyone explain to me vividly how to setup and use FINOBACCI RETRACEMENT.
I will also appreciate it if anyone can give me any indicator that can help me more.
I am new here.
Thanks to all in anticipation.
Are you using MT4?
  • #13,018
  • Aug 21, 2009 10:48am Aug 21, 2009 10:48am
Quoting komkom
please could anyone explain to me vividly how to setup and use FINOBACCI RETRACEMENT.
I will also appreciate it if anyone can give me any indicator that can help me more.
I am new here.
Thanks to all in anticipation.
Hi KomKom,

First, I suggest that you review just what a Fibonacci Retracement is. For this, see this link:

http://www.investopedia.com/ask/answ...etracement.asp

You can also just type in Fibonacci Retracement in Google and review some of the first few links, of which the above is one.

To use the tools on the various trading platforms, which sometimes work a little differently, you best contact the help and support people of your own broker and ask them to walk you through the process. Don't forget to ask them how to set up Fibonacci Extensions as well as the retracements, as they are also important. Once you get all that down and if you then have some specific questions, bring them back here.

Hope this helps.
SR
  • #13,019
  • Aug 21, 2009 7:35pm Aug 21, 2009 7:35pm
I just found a guide on setting sound and email alerts for certain price levels, just thought it might help NBT traders:
http://articles.mql4.com/190
  • #13,020
  • Aug 23, 2009 4:50am Aug 23, 2009 4:50am
Hi guys, just started a new job - been out of synch with the market for the week. Here are some thoughts on the following week of trading. From the charts price seems to have been very choppy across the board.

GBPUSD

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 23 aug.jpg Size: 119 KB


Very choppy and ranging market in the past week. Couple of news spikes observed. No clear direction.

S : 1.6660 , 1.6660

L: 1.6430 , 1.6375

A rather dangerous market I must say. Exercise caution.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 23 aug.jpg Size: 132 KB


EURUSD

Also a very chopping and ranging market.

S 1.4450

L 1.4215 which happens to have confluence with the 50% fib based on the last move up

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 23 aug.jpg Size: 98 KB


USDCHF

S 1.0675
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