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No Brainer Trades

  • #13,581
  • Dec 22, 2009 8:43am Dec 22, 2009 8:43am
Took me a year or so to learn how to play this but if you try it on demo a while, you can get familiar with it.

I picked up this technique from BRV original "No Brainer Trades" thread originally on this forum. It is called a Spike Base.

When an announcement or a spike happens you can usually play this on E/U or E/J. After the original spike happens (make sure its finished) it will retrace to a resistance level, then continue with the impulsive wave. Once the second retrace happens, 60-70% of the time (rough estimate) it will retrace back to or near the original spike base.

At or near the spike base for the second time, you have a pretty good chance of picking up some pips. This is purly a scalp play. You need to practice on demo and learn when its safe to get in and get out.
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Balance in Everything
  • #13,582
  • Dec 22, 2009 9:24am Dec 22, 2009 9:24am
Quoting BillyRayValentine
Ok its time for some math....Its a little slow out there so I thought I would do a little reward check.

First off, I looked at the thread's current track record, using a +150 pip take profit and 5 contracts as a benchmark. I dont want to take too much time explaining what I'm doing here so its a little better if I just show you.

Lets forget for a second about changing market conditions, forget about sentiment hooplah, forget about market obstacles, etc. - lets just quantify how to make the most out of what we do here without any ramblings....

What is the starting balance for this hypothetical account?
The greatest force on earth is compound interest.
  • #13,583
  • Dec 22, 2009 11:19am Dec 22, 2009 11:19am
I hope now better, bad quality but ....


http://img268.imageshack.us/img268/5998/43992423.jpg
  • #13,584
  • Dec 23, 2009 12:32am Dec 23, 2009 12:32am
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  • #13,585
  • Dec 23, 2009 12:35am Dec 23, 2009 12:35am
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  • #13,586
  • Dec 23, 2009 12:38am Dec 23, 2009 12:38am
BTW, BRW method might be used both ways. Not only for bounces but for break out trades as well.
It's break out season for some pairs.
  • #13,587
  • Dec 23, 2009 4:54am Dec 23, 2009 4:54am
Quoting shiko
BTW, BRW method might be used both ways. Not only for bounces but for break out trades as well.
It's break out season for some pairs.
Good point. Thanks for reminding us.
Balance in Everything
  • #13,588
  • Dec 26, 2009 10:28am Dec 26, 2009 10:28am
long NZD/USD at 0,70013

1.the bottom of the bucket
2.previous support
3.near double 00

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short EUR/CHF at 1.4988-97 area

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GOOD LUCK
  • #13,589
  • Dec 26, 2009 10:46am Dec 26, 2009 10:46am
It's good one ??? Thx for help

short EUR/JPY at 133,549 - 133,709

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and this ?? what are u thinking?

short AUD/USD at 0,89343 - 0,89558

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  • #13,590
  • Dec 27, 2009 1:50pm Dec 27, 2009 1:50pm
another one ...
1.support & resistance
2.double 00

long at 1,03005 - 1,02904

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  • #13,591
  • Dec 28, 2009 1:02pm Dec 28, 2009 1:02pm
Longing USD/CAD support here with the last two 1hr closes giving me a signal that bulls are ready to take the lead for awhile.

http://img510.imageshack.us/img510/9800/ucad2.th.png


http://img339.imageshack.us/img339/755/ucad1.th.png
  • #13,592
  • Dec 28, 2009 1:45pm Dec 28, 2009 1:45pm
Another one I'm playing...

Trend line and S&R

http://img709.imageshack.us/img709/9298/15356408.th.png
  • #13,593
  • Dec 28, 2009 1:47pm Dec 28, 2009 1:47pm
Quoting sam0182
Longing USD/CAD support here with the last two 1hr closes giving me a signal that bulls are ready to take the lead for awhile.

http://img510.imageshack.us/img510/9800/ucad2.th.png


http://img339.imageshack.us/img339/755/ucad1.th.png
I think that here will be brake out, but it is just my opinion
  • #13,594
  • Dec 28, 2009 7:26pm Dec 28, 2009 7:26pm
Weeks where price does not touch the 5 ema are rare... and that last weeks candle did not... I think an even better chance price will come up to touch 5 ema at least... 2 weeks in a row where price does not touch the 5.....? I dont think so....


Quote
Any one have thoughts regarding eurusds doji that took place on friday.

Do you view it as sign of further trend continuation or a sign of upcoming consolidation?
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  • #13,595
  • Dec 29, 2009 10:26am Dec 29, 2009 10:26am
Here is a quick blog post from forexlive. What an amazing day the fx market has been today.

BIS rumored buying USD/CHF
Written by Jamie Coleman
December 29, 2009 at 16:13 GMT
The cavalry has arrived, traders say. The BIS has been rumored buying USD/CHF on this most recent rebound for the greenback. EUR/CHF fell as low as 1.4857 before rebounding to the present 1.4899 level. USD/CHF is at session highs of 1.0366.
  • #13,596
  • Dec 29, 2009 10:36am Dec 29, 2009 10:36am
What a day!
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  • #13,597
  • Dec 30, 2009 12:40pm Dec 30, 2009 12:40pm
great thread billy ray, i have incorporated this info into my traiding.

i am using this info w/ t101 basket info and the corrolation thread. the results have been positive.

thanks again. http://cdn.forexfactory.com/images/icons/icon6.gif
  • #13,598
  • Jan 3, 2010 2:04pm Jan 3, 2010 2:04pm
2 weeks off and feeling refreshed.. hope everyone had a good xmas .

heres some daily charts im looking at for s/r .. all assuming dollar strength to continue for the near term .. gbp/usd looking very weak .. looking to short at 16250/16270 with a 76% fibb at 16270.

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  • #13,599
  • Jan 3, 2010 2:16pm Jan 3, 2010 2:16pm
any strength looking to short 14360/14372 on the euro.. 50% fibb .. with an eye on 14411.. 76% fibb area or ..usd/chf ..the mirror image at 10320 /10300 ..76% fibb.

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  • #13,600
  • Jan 3, 2010 2:24pm Jan 3, 2010 2:24pm
one more for luck.. short aus/usd 8992/9014 .. 62% fibb ...
hoping for a not to volatile new year !! all the best .

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