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GBP/USD, USD/CHF, USD/JPY

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  • #13,121
  • Sep 9, 2009 8:58am Sep 9, 2009 8:58am
EUR/USD, watching 1.463 area for a bounce...61% fib, some S&R. Weekly shown below, with such a high time frame, there is certainly going to be a wide zone for the bounce.

Flows with USD/CHF support in and around 1.04/1.035 (see weekly, daily).

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


RC, any thoughts on this? Anyone else?
  • #13,122
  • Sep 9, 2009 1:34pm Sep 9, 2009 1:34pm
Quoting Interceptor
Nice target area @ 0.8470.
Would like to knwo why you chose to sell 0.8629, doesnt look like a key support/Resistanc level
  • #13,123
  • Sep 9, 2009 1:36pm Sep 9, 2009 1:36pm
A recent good example of a Quasimodo or over and under pattern as discussed in the chat room.
Attached Image (click to enlarge)
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  • #13,124
  • Sep 9, 2009 1:39pm Sep 9, 2009 1:39pm
Hi,
i have been studying BRV method & demotrading for few days, it seems that this method of finding key levels makes one think like key institutional Steve recommends i now update myself with IFR markets on FX happeneings but the options news goes over my head. can someone tell me how to make sense of risk reversals, ATM vols etc in simple manner like steve teaches.
Thnx
Naveen
  • #13,125
  • Sep 10, 2009 4:18am Sep 10, 2009 4:18am
Quoting NAVEEVIa
Would like to know why you chose to sell 0.8629, doesn't look like a key support/Resistance level
Hi
I had the level(below) marked up on my chart.
It goes back a way, but that doesn't really matter.
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  • #13,126
  • Sep 10, 2009 8:39am Sep 10, 2009 8:39am
Quoting Interceptor
Hi
I had the level(below) marked up on my chart.
It goes back a way, but that doesn't really matter.
I use netdania , this is how my Aussie 1H charts look like, Seriously different from yours.
Attached Image (click to enlarge)
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  • #13,127
  • Sep 10, 2009 9:00am Sep 10, 2009 9:00am
Quoting NAVEEVIa
I use netdania , this is how my Aussie 1H charts look like, Seriously different from yours.
The level which price is currently at makes recent charts less relevant.
Pull your chart back across until you find the last time price was at the current level.
  • #13,128
  • Sep 10, 2009 9:44am Sep 10, 2009 9:44am
Areas that I'm watching on the USD/CHF for shorts. 1.0495 is a lower probability but I'll still keep an eye on it. 105.3 - 1.0565 are my hot areas and an obvious area of previous S&R.

http://i24.photobucket.com/albums/c2...dchfsept10.jpg

Quoting sam0182

Flows with USD/CHF support in and around 1.04/1.035 (see weekly, daily).
  • #13,129
  • Sep 10, 2009 4:04pm Sep 10, 2009 4:04pm
GBP/JPY short....good S/R here over time
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  • #13,130
  • Sep 10, 2009 4:09pm Sep 10, 2009 4:09pm
Hey I plan to go long on GBP/JPY around 152.30 hope it will drop to that level.........
Quoting chazlanning
GBP/JPY short....good S/R here over time
BANDA333
  • #13,131
  • Sep 11, 2009 5:36am Sep 11, 2009 5:36am
Quoting BANDA
Hey I plan to go long on GBP/JPY around 152.30 hope it will drop to that level.........
Hallo Banda,i am new to NBT, can i ask you how did you spot this level?
Patience is essential
  • #13,132
  • Sep 11, 2009 6:35am Sep 11, 2009 6:35am
Quoting benem
Hallo Banda,i am new to NBT, can i ask you how did you spot this level?
152.30 is not a clear S/R at H1. And it is not a special pattern, such as over-and-under.

When marking S/R, the clearer it is, the stronger it is.
Common sense is your holy grail.
  • #13,133
  • Sep 11, 2009 6:43am Sep 11, 2009 6:43am
Quoting benem
i am new to NBT
Me too.

Quoting kk007
When marking S/R, the clearer it is, the stronger it is.
Common sense is your holy grail.
I like the sound of this!

Looking forward to making pips with you all.

Have a great weekend!
  • #13,134
  • Edited 7:37am Sep 11, 2009 6:58am | Edited 7:37am
For me could be a nice level at 150.55

1)Buket pattern
2)round number 150.50
3)76% Fib retracement.....

Comments?
Attached Image (click to enlarge)
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Patience is essential
  • #13,135
  • Sep 11, 2009 7:13am Sep 11, 2009 7:13am
Quoting FXSurfer
Me too.



I like the sound of this!

Looking forward to making pips with you all.

Have a great weekend!
Oh. You got 7 vounchers, much more senior than me.

Nevertheless, no matter where you are from, the concepts in this thread is useful to you, I think.

Unfortunately, the host of this thread is missing for a while.
  • #13,136
  • Sep 11, 2009 7:19am Sep 11, 2009 7:19am
Quoting kk007
Oh. You got 7 vounchers, much more senior than me.
Vouchers and post count don't mean anything - trust me!

(Edit: No offense to those who vouched for me. )
  • #13,137
  • Sep 12, 2009 2:44pm Sep 12, 2009 2:44pm
Quoting benem
For me could be a nice level at 150.55

1)Buket pattern
2)round number 150.50
3)76% Fib retracement.....

Comments?

Nice call...good for almost 50 pips so far
  • #13,138
  • Sep 14, 2009 3:40am Sep 14, 2009 3:40am
Pretty picture....
Attached Image (click to enlarge)
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  • #13,139
  • Sep 14, 2009 8:40am Sep 14, 2009 8:40am
What do you think about the gbp chf 4h chart? Is gonna bounce off?
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  • #13,140
  • Sep 14, 2009 1:24pm Sep 14, 2009 1:24pm
Quoting okrutny
What do you think about the gbp chf 4h chart? Is gonna bounce off?
Does it matter? We can never know whether a given trade will win or lose. We can only chose setups that, over many trades, have an edge. Then we take the trades and depend on probabilities to cause a high enough percentage of these trades to be winners. Provided that we exercise good money management and trade management, we should then profit.

So it is up to you to decide if, based on YOUR trading plan, not anyone elses, this setup has the edge that you want. Knowing, as you must, exactly what you are looking for in a trade setup, does this fit? If it does, then you take the trade. If it doesn't fit, then on to the next chart.

SR
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