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  • #13,141
  • Edited 2:27pm Sep 14, 2009 2:11pm | Edited 2:27pm
Quoting Interceptor
Pretty picture....
It was a perfect "over and under" pattern. Shorted @ 1.6740 and pocketed 200 pips. Beautifull trade BRV, where you at? Counting pips from this short eh? hehehe
  • #13,142
  • Sep 14, 2009 3:25pm Sep 14, 2009 3:25pm
Short 151.31-151.50 area, 50% fib also
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  • #13,143
  • Sep 15, 2009 3:25am Sep 15, 2009 3:25am
Quoting seattlerust
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.
Yep, i know.
Quoting seattlerust
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
So, I'm trying to develop MY own trading plan according to rules given by BRV and I ask if that situation meet these general rules, which everyone following this topic know, not only I. Especially, is there historical support and isn't price "using and abusing" it.
I have read advices like that many times, so if you doesn't have something new or according to the question to say, don't say.

okrutny
  • #13,144
  • Sep 15, 2009 3:36am Sep 15, 2009 3:36am
Quoting okrutny
Yep, i know.


So, I'm trying to develop MY own trading plan according to rules given by BRV and I ask if that situation meet these general rules, which everyone following this topic know, not only I. Especially, is there historical support and isn't price "using and abusing" it.
I have read advices like that many times, so if you doesn't have something new or according to the question to say, don't say.

okrutny
You won't get much help here with that sort of attitude.
  • #13,145
  • Sep 15, 2009 5:25am Sep 15, 2009 5:25am
Quoting okrutny
What do you think about the gbp chf 4h chart? Is gonna bounce off?
This is a trade I would be quite hesitated to take. First, the price revisit 1.7154 in that a short time. And second, it made a slightly lower high. The expectation of the likelihood of rebounding and the degree of rebounding are lower for me.
  • #13,146
  • Sep 15, 2009 8:14am Sep 15, 2009 8:14am
Quoting kk007
This is a trade I would be quite hesitated to take. First, the price revisit 1.7154 in that a short time. And second, it made a slightly lower high. The expectation of the likelihood of rebounding and the degree of rebounding are lower for me.
Many thanks. I hoped for answer like that.
  • #13,147
  • Edited 8:43am Sep 15, 2009 8:30am | Edited 8:43am
Hi guys, what do you think about the setup? I see quite strong support 1.6441 which defend itself, i placed buy limit at the support and S/l at 1.6430. What do you think? Is price going to check the support again? Isn't sl too tight, while the target is at least 1.6660? Please correct me where i'm wrong.

edit: I think i should better use fibo to specify target so it would be about 1.6545 for 0.50 fibo. Is that correct with the No brainer system?
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  • #13,148
  • Sep 15, 2009 9:31am Sep 15, 2009 9:31am
Quoting okrutny
Hi guys, what do you think about the setup? I see quite strong support 1.6441 which defend itself, i placed buy limit at the support and S/l at 1.6430. What do you think? Is price going to check the support again? Isn't sl too tight, while the target is at least 1.6660? Please correct me where i'm wrong.

edit: I think i should better use fibo to specify target so it would be about 1.6545 for 0.50 fibo. Is that correct with the No brainer system?
erm i think brv put 40 pips in his pdf. 11 pips is just killing urself
  • #13,149
  • Sep 15, 2009 4:19pm Sep 15, 2009 4:19pm
E/U 1.473 is a nice weekly spike high and can be considered in the (extreme) range of the 61% fib on the weekly. We saw nice bounces from the 1.463 levels all last week and the beginning of this...147.3 is my next level to watch.

Will try and get a chart up later.
  • #13,150
  • Sep 15, 2009 5:41pm Sep 15, 2009 5:41pm
Looks great. IMHO worth considering is .4719 also, because of previous hit.
What do you guys think about gbp/chf on daily chart? for me it looks like break with risk about .7095 (from 4h) and potential target around .6648..? is there any resistance along the way i didn't spot? There is sth at 15-18 May 09 on 4h chart. Should i consider it as a support?
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  • #13,151
  • Sep 20, 2009 7:29am Sep 20, 2009 7:29am
Looking at this one myself.
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  • #13,152
  • Sep 20, 2009 12:49pm Sep 20, 2009 12:49pm
Yep. Seems like a good support with target 7399 which coincide with .50 fibo ext.
  • #13,153
  • Sep 20, 2009 11:48pm Sep 20, 2009 11:48pm
Hey all,

Short GBP/USD at about 1.6400

Liking the look of this setup and just thought i would share. We have weekly pivot point (purple line), major round number, 50% fib, nice strong s/r (yellow line) that has been used many times over the last month or so, and if it gets there in the next 16 hours or so, the daily r1 (not drawn) is also sitting there at 1.6405. All this in a nice strong down trend. Fib may change if it goes lower before going higher, but even without it, there is more than enough at this level for me to take the trade. Just hope it gets up there.

Good luck and happy trading to all

http://img5.imageshack.us/img5/3100/gbpusd.jpg
  • #13,154
  • Sep 22, 2009 10:43pm Sep 22, 2009 10:43pm
Shorting cable @ 1.6420-1.636. S/R here, also 50% fib on down move
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  • #13,155
  • Sep 23, 2009 1:22am Sep 23, 2009 1:22am
Good Call. Thanks. Let's see.

Quoting chazlanning
Shorting cable @ 1.6420-1.636. S/R here, also 50% fib on down move
  • #13,156
  • Sep 23, 2009 3:32am Sep 23, 2009 3:32am
Update from above:
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  • #13,157
  • Sep 23, 2009 4:24pm Sep 23, 2009 4:24pm
looking to see if theres any support at 147 /146.70 range .. uptrend and 62% retracement area. been some s&r lately ..

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  • #13,158
  • Sep 24, 2009 12:23pm Sep 24, 2009 12:23pm
Good call Booker.

One I'm in right now, short USD/CAD 109, little bit of a range here, 109-109.3 or so.

http://i24.photobucket.com/albums/c2.../th_UCAD-2.jpg
  • #13,159
  • Sep 24, 2009 2:12pm Sep 24, 2009 2:12pm
hi sam ..was watching 109 earlier on cad .. the dollar was killing most other currencies , hopefully its calmed down a bit good luck ..turned my attention to eur/gbp .. looking for a retrace down to 50%fibb range if were going to continue upwards well see ...



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  • #13,160
  • Sep 24, 2009 4:47pm Sep 24, 2009 4:47pm
Quoting booker66
hi sam ..was watching 109 earlier on cad .. the dollar was killing most other currencies , hopefully its calmed down a bit good luck ..turned my attention to eur/gbp .. looking for a retrace down to 50%fibb range if were going to continue upwards well see ...

Attachment
I don't trade the E/G much but can see what you're looking for...looks like a good level if price will back off some.

U/CAD was stopped out but I went ahead and re-entered at a better price, will try again. Also caught E/U long around 1.4640, looking for a bounce.
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