No Brainer Trades | Page 697 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD, USD/CHF, USD/JPY

Similar Threads

No brainer fundamental trades 55 replies

This time... I'm Keeping MY MONEY (BRV - No Brainer Trades) 3 replies

The Koala System (No brainer) 127 replies

EUR/GBP SHORT for No Brainer 67 replies

Selling USD and YEN is a no brainer. 12 replies

Attachments: No Brainer Trades
Exit Attachments

No Brainer Trades

  • #13,921
  • Jun 11, 2010 3:46am Jun 11, 2010 3:46am
Quoting BillyRayValentine
Hi everyone,
Thought I would share some activity for old time sake.......we're now getting a push into the 3/4 part of this retacement as I write so 'we'll see' as they say...
Great Job.
Follow the rules and be successful.
  • #13,922
  • Jun 13, 2010 4:30pm Jun 13, 2010 4:30pm
Quoting BillyRayValentine
Hi everyone,
Thought I would share some activity for old time sake.......we're now getting a push into the 3/4 part of this retacement as I write so 'we'll see' as they say...
nice chart ...but what exactly are you trying to say ... 4 different s/r areas to choose ... are you saying youve shorted the 12140 area or waiting to see if it breaks through ? its a bit vague or is it me ... wheres your money .. cheers booker.
  • #13,923
  • Jun 24, 2010 5:51pm Jun 24, 2010 5:51pm
1.4800-1.4820

Attached Image (click to enlarge)
Click to Enlarge Name: cable long.gif Size: 58 KB

Attached Image (click to enlarge)
Click to Enlarge Name: cable long h4.gif Size: 56 KB
It's not about how much you make, it's about how much you don't lose.
  • #13,924
  • Jun 26, 2010 6:54pm Jun 26, 2010 6:54pm
I like the 1.5140 area for a sell on the GBP/USD for the following reasons:

78.6% Fib at 1.5141
Monthly R1 at 1.5149
Good Support becoming Resistance at the same area

If the trade is filled before London, I like the fact that it is a key resistance area and Asia does not like to commit to new levels, so we are likely to go back into the most recent range.

Limit Sell at 1.5140
Stop Loss at 1.5185
Take Profit at 1.5005

Reward to Risk 135/45 = 3 to 1

There is the G20 meetings this weekend, so price could experience a significant gap on Sunday when trading opens. Currently my entry is 65 pips away from where the market closed on Friday afternoon. I will watch the price feed to see where price gaps up to before retail trading opens to help me decide whether or not to take the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jun. 26 16.49.jpg Size: 143 KB
  • #13,925
  • Jun 28, 2010 4:38am Jun 28, 2010 4:38am
Jeff A, hello. I agree with you. i had a sell at 1.5050 but price had run into 5010 before dropping to 1.4854. just thought that since price is coming close that area, the next historical level as i see in my chart is around 5157 area.

Can anyone give advice on how to predict levels that will hold or teach me about price action or knowing how divergence works while price is approaching the levels.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 30 KB
  • #13,926
  • Jun 28, 2010 9:49am Jun 28, 2010 9:49am
nobody is responding to the thread.
  • #13,927
  • Jun 28, 2010 1:06pm Jun 28, 2010 1:06pm
Quoting mikeokino
nobody is responding to the thread.
Hi
Start on page 1 of this thread, and go through everything in the 'Important Posts' section of the first post.
  • #13,928
  • Edited 7:00am Jun 29, 2010 4:51am | Edited 7:00am
Quoting mikeokino
Jeff A, hello. I agree with you. i had a sell at 1.5050 but price had run into 5010 before dropping to 1.4854. just thought that since price is coming close that area, the next historical level as i see in my chart is around 5157 area.

Can anyone give advice on how to predict levels that will hold or teach me about price action or knowing how divergence works while price is approaching the levels.
You never know if its going to hold(you cant see orders)...all you know is that their is a chance it will. Aslong as you are risking a small amount of capital compare to the potential reward its a good investment.
  • #13,929
  • Jun 29, 2010 5:03am Jun 29, 2010 5:03am
Quoting mikeokino
Jeff A, hello. I agree with you. i had a sell at 1.5050 but price had run into 5010 before dropping to 1.4854. just thought that since price is coming close that area, the next historical level as i see in my chart is around 5157 area.

Can anyone give advice on how to predict levels that will hold or teach me about price action or knowing how divergence works while price is approaching the levels.
Interceptor is right. You do need to know what this thread is about and by your post and very nice chart it's clear you are not on the same wavelength. Try this. Pull up a 30 minute chart and track the behaviour of cable as it approached and then hit 1.5. Tell me how far it overshot 1.5 on the first break? Now tell me how far it retraced from there before it had another go at 1.5? Now work out the risk/reward ratio there. That's what these guys are chasing. Now I would appreciate a reply after spelling it out to you.
Gone to a better place
  • #13,930
  • Jun 29, 2010 5:38am Jun 29, 2010 5:38am
hello spike,sherm and interceptor. on the first attempt, it went just 10pips at 1.5010 and fell 146 pips down(risk to reward is 14.6:1). On the second attempt it just took it out by 14 pips and went off buying i.e on the 30mins tf. This means its buy market for GU.

I have tried many systems,robots etc before i stumbled on this blog.i know that the no indicator trading strategy holds the key to success in fx because of the low-risk enteries, market repeating itself unlike moving averages that put you in the trade long after the market is gone with greater risk.

I have read the BRV pdf many times.i can spot the levels on 4hr,daily and weekly time frames.but i need help with knowing what next to do with levels either long or short.

i spotted a level at 1.3451 area for eurusd last week.it took 2days before price reached it on sunday night(gap up).it went 16 pips and fell by over 250 pips in two days.i have an idea but i need help from experienced people on this thread.help
  • #13,931
  • Jun 29, 2010 5:57am Jun 29, 2010 5:57am
Thanks for the reply. Generally speaking, monthly s/r levels like 1.5 are the most likely to hold when the price hasn't been there for a long time. So like the 30 minute chart example is where we will get a rejection of a monthly s/r level. Don't rely on it though! So next important are weekly, daily and so on.

If you look at the weekly chart you can see we bounced off 1.5 in March, broke through in May and we are currently retesting 1.5 before possibly continuing the downtrend.

If we do the hourly chart on the first touch of 1.5 on March 1st we see it dropped right through to 1.4780 so a counter trend long trade off that downtrend would not have been a good idea. So it pays to go with the overall trend. Another good idea in my opinion is to look for price action at these levels before entering the trade. That is the territory of the James 16 thread and not the No Brainer thread.
Gone to a better place
  • #13,932
  • Jun 29, 2010 6:45am Jun 29, 2010 6:45am
thanks smike. what then are your thoughts on GU-what should one be looking out for.am not in any trade and am not soliciting for trade signals. It has bounced off on the 1h chart having made a low at 1.5011.please help me to get this thing right.Is it resuming its uptrend ?
  • #13,933
  • Jun 29, 2010 6:52am Jun 29, 2010 6:52am
If you read my recent posts you may get an insight into my views on this. I wouldn't trade my views, though. I frequently change my mind.
Gone to a better place
  • #13,934
  • Jun 29, 2010 11:52am Jun 29, 2010 11:52am
Fact is that according to the latest COT, the non-commercials are still heavily short cable, and if you ask me, I'd say we're currently in a correction phase before resuming the way down. Lot of resistance just above where we are now, up to and including 1.5350. But who knows, right?

Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 55 KB
It's not about how much you make, it's about how much you don't lose.
  • #13,935
  • Jun 29, 2010 3:39pm Jun 29, 2010 3:39pm
Support becoming resistance, fib confluence, in line with longer term trend. Nothing is guaranteed of course.

Attached Image (click to enlarge)
Click to Enlarge Name: gc h4.gif Size: 61 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gc d1.gif Size: 48 KB
It's not about how much you make, it's about how much you don't lose.
  • #13,936
  • Jun 29, 2010 3:44pm Jun 29, 2010 3:44pm
Quoting Dhb
Support becoming resistance, fib confluence, in line with longer term trend. Nothing is guaranteed of course.

Attachment

Attachment
yep take alot of setups like that with good money management and money in the bank lol.
  • #13,937
  • Jul 1, 2010 12:49am Jul 1, 2010 12:49am
A level I'm watching on the AUD/USD for a sell is the 0.8520 to 0.8540 area for the following reasons:

50% Fib at 0.8545
Weekly M1 at 0.8542
Most importantly there are good old highs/lows in the same area.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_13 Jun. 30 22.43.jpg Size: 127 KB
  • #13,938
  • Jul 1, 2010 4:25am Jul 1, 2010 4:25am
Could be, provided that AU manages to climb above the 8425-8500 area. Big concentration or previous s/r to get through first though.

Attached Image (click to enlarge)
Click to Enlarge Name: au h1.gif Size: 62 KB
It's not about how much you make, it's about how much you don't lose.
  • #13,939
  • Jul 1, 2010 4:41am Jul 1, 2010 4:41am
Sell 82.95-83.28.

Lot of previous support turned resistance, plus 50 fib (more obvious on h4).

Attached Image (click to enlarge)
Click to Enlarge Name: cj h1.gif Size: 62 KB


Attached Image (click to enlarge)
Click to Enlarge Name: cj h4.gif Size: 65 KB
It's not about how much you make, it's about how much you don't lose.
  • #13,940
  • Jul 1, 2010 6:04am Jul 1, 2010 6:04am
Quoting Dhb
Sell 82.95-83.28.

Lot of previous support turned resistance, plus 50 fib (more obvious on h4).
I like that 83 number. Thanks for the heads up. I will be scaling in around there. I'm sure I won't be the only one.
Gone to a better place
32 traders viewing now