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  • #14,061
  • Aug 28, 2010 3:55pm Aug 28, 2010 3:55pm
Quoting moonchild
Ths is just a different way of looking at the problem.

There is a clear break of the recent trendline and there are 2 obvious targets, .9075-8 and if it gets past that resistance then the next target would be .9221.

The price bounced off the 50 fib from the recent move up and is currently sitting at the 23.6 fib which might act as resistance.

I intend to go long but not until after it clears the current fib level.

Good point. will keep it in mind.
  • #14,062
  • Aug 28, 2010 4:00pm Aug 28, 2010 4:00pm
Nice comparison - thanx for heads-up.
  • #14,063
  • Aug 30, 2010 7:34am Aug 30, 2010 7:34am
I see in ur chart that the trend is up .

Quoting Dhb
Hi there,

It pains me to have been reading this excellent thread for a couple of weeks now, and hardly ever see the total number of pages increase anymore. I hope this thread hasn't died yet, because imho, this one is up there along with J16 as one of the best on FF. It would be a real shame to see this thread slide away into oblivion.

Anyway, I'm currently demoing no brainer trades. As a matter of fact, I just went long swissy off of an obvious S/R, which was also the 62 fib retracement of the previous swing. If it gets up there, and depending...
  • #14,064
  • Aug 30, 2010 5:52pm Aug 30, 2010 5:52pm
Quoting avi007i
I see in ur chart that the trend is up .

What pairs?

Shorted Eur/ Jpy from 109.24. nice pip count.
The price did violate the area. I had order at 109.07, but after some thinking move it up.
  • #14,065
  • Aug 30, 2010 5:55pm Aug 30, 2010 5:55pm
Yes, these 2 threads are the best. I would really love to spend more time on James16 thread but got caught in No Brainer Trades and I am with it permanently.
The thread has been quite but it is not dead at all. I read it regularly especially first 100 pages when BRV was giving his insights.
  • #14,066
  • Aug 30, 2010 8:34pm Aug 30, 2010 8:34pm
how about the margin used for this trick...?
  • #14,067
  • Aug 31, 2010 8:11am Aug 31, 2010 8:11am
Quoting kDBurga
Short trade setting up at x - 9012
Stop at y - 9045
Target is z - 8961

Add a few pips to stop to cover slight overshoot and crim spread.

RR is about 1.5:1

4H chart

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Nice 50pip profit
  • #14,068
  • Sep 2, 2010 6:07am Sep 2, 2010 6:07am
Today I was shorting the EUR/JPY.

+20 Pips
Attached Image (click to enlarge)
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  • #14,069
  • Sep 2, 2010 10:58pm Sep 2, 2010 10:58pm
It's marvelous to see this thread continuing to progress. This thread alone has helped me more than any other book I've read. I'm not here much anymore; however, much thanks goes out to BRV!
  • #14,070
  • Sep 3, 2010 8:06pm Sep 3, 2010 8:06pm
Quoting Wallboroff
Today I was shorting the EUR/JPY.

+20 Pips
I think you use too much trend lines instead of S/R lines. I went long at 108.29. +40 pips. it retraced after breaking the level.
  • #14,071
  • Sep 3, 2010 8:08pm Sep 3, 2010 8:08pm
now it will be interesting if 109.54 will hold if there is another attempt.
  • #14,072
  • Sep 3, 2010 8:21pm Sep 3, 2010 8:21pm
hi i will like to ask you if you normally enter with a firm limit order, or do you enter at market? thanks
  • #14,073
  • Sep 4, 2010 2:24am Sep 4, 2010 2:24am
Quoting shiko
I think you use too much trend lines instead of S/R lines. I went long at 108.29. +40 pips. it retraced after breaking the level.
nope. i prefer the sr-lines and my entry was clearly based on an sr-line. a diagonal trendline that gets broken will act as resistance or support like in the pic i posted.
  • #14,074
  • Sep 5, 2010 8:25am Sep 5, 2010 8:25am
Quoting Wallboroff
nope. i prefer the sr-lines and my entry was clearly based on an sr-line. a diagonal trendline that gets broken will act as resistance or support like in the pic i posted.

Yes, I know it can, but diagonal trend lines are not as clear cut as horizontal s/r lines. I am following trend lines as well, but usually do not use them for entries. Just watch when momentum starts changing.
I have never seen anyone using so many diagonal trend lines on charts and in such a way as you do What I mean, is that not everyone can see things as you do, hence less people inclined to go long/ short on those lines you use while horizontal S/R lines can be seen by more people. By this I do not mean your approach is not working, simply that it has probably lower probability.

I myself determined R/S area as 1.2835-1.2855 and traded from this.
  • #14,075
  • Sep 5, 2010 8:27am Sep 5, 2010 8:27am
Quoting yuan83
hi i will like to ask you if you normally enter with a firm limit order, or do you enter at market? thanks
I can do both. But with MT4 it is not easy as slippage is practically guaranteed and usually not in our favor. I am trying to enter with limit orders most of the time depending on price action.
  • #14,076
  • Sep 6, 2010 3:15am Sep 6, 2010 3:15am
Quoting shiko
Yes, I know it can, but diagonal trend lines are not as clear cut as horizontal s/r lines. I am following trend lines as well, but usually do not use them for entries. Just watch when momentum starts changing.
I have never seen anyone using so many diagonal trend lines on charts and in such a way as you do...
hmm, i know what you mean but i see it differently. I have the feeling that diagonal trendlines work much better than horizontal trendlines. If you use diagonal trendlines as pure support or resistance the entries are more difficult to choose. But if they are used as sr-levels they work pretty good.

Until know it worked for me just fine, so they must have some relevance. Sometimes i think forex is just pure geometry. Draw some lines and you have your entry and the amazing thing is, it works.
  • #14,077
  • Sep 7, 2010 3:25am Sep 7, 2010 3:25am
Cool thread, i just found it.
hope people post lots of charts here.
  • #14,078
  • Sep 7, 2010 5:31am Sep 7, 2010 5:31am
took this trade.
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  • #14,079
  • Sep 7, 2010 5:35am Sep 7, 2010 5:35am
This here broke, is retesting it seems.
not entirely convinving though.
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  • #14,080
  • Sep 7, 2010 6:00am Sep 7, 2010 6:00am
could make this trade with tight stop
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