No Brainer Trades

sweet! though after such a run it might need to accumulate a lil. so might range a bit over there.

i'm looking for long here where those 2 line cluster.

Today's "fat finger" spike (or was it a stop hunt?) in USD/JPY just happened to EXACTLY spike up to the PRECISE daily R3 and weekly R1 (levels created using the numbers at my broker).

Hi,
Nice level to fade if we make it up there.

Nice 50 fib and major S line just hit on this pair.

Good day traders

Attached is the EU 4h chart showing a strong level at 1.33 (I have 1.33 and 1.3284 marked) as a potential long. Price may not return to the grey area marked on my chart but if it does there is good potential. Historic support/resis level, diagnol trendline and 61.8% fib confluence.

VP

Likewise the NZ showing a nice level at the 61.8% retrace if it ever gets hit!!

NZ gave a near perfect bounce off 0.7630 and support for a 90 odd pip move so far, missed my entry price by 1pip! EU setup still a good possibility.

Hey Everybody,

I used to visit Steve's site a few years ago. Good to see that it's still rolling here on FF.

Looks like risk aversion is going to take these majors down another leg. I'm looking to sell euro, pound, and aussie on any relief rallies we get during Asia or early London. I've attached a chart where I'm looking to short Pound. 2 really good Sell Zones: 1.5970 and 1.6010. I'll be looking to hold these as price retests the Lows of yesterday.

Can I buy at 1.5912 Tp at 1.6010 n then sell again at 1.6010?? tonite??

We have a pretty signifant level coming up today on the euro possibly. I'm very interested in selling at 1.3750 for a larger swing trade. Much of the success of the trade is going to depend on further developments in the Irish bailout and Chinese inflation concerns. Both of these situations have stabilized over the last day, which is why we have seen this rally in equities and risk assets.

So, let's see what happens! I like this area quite a bit. You can see it is heavy former support, and it lines up perfect with the 38% fib retracement of the overall move on the last major swing, which is usually a money trade for this pair.

Hope it will happen.

http://img100.imageshack.us/img100/9...lyanalysis.gif

im trying to learn support and resistance,the thing thats been bugging me the most is where to put the support and resistance

i read you posts,nd find it hard to get where the support and resistance lines are supposed to go
can someone help me out nd show me where they are supposed to go on what occasions on the chart

Thats a pretty broad request
Even just reading the first page of the thread should answer your question. I think you need to find most, if not all of the posts that the author of this thread wrote and then read them as its all here for you.

same here

Can someone please summarize briefly the general strategy here?
When to enter, when get out on stop loss, when to get out at a profit.

i found some great utube videos on s/r

read the first page

support and resistance is completely subjective from person to person. Its not 100%, but nothing is in trading. The lines i pick might differ slightly to yours.

To benefit from trading with s/r you need to pick the lines you think most other people will pick, ie the obvious ones, and use them to trade off. Start with a high timeframe, ie weekly, zoom out as far as you can and draw horizontal lines where you can clearly see price bouncing upwards and downwards from the same line. Also think of these lines as a range, and not an exact line. It also helps to round these lines off to the nearest 00.

The more you practice drawing these obvious lines the better you will become.

Possible short on AUDNZD coming up.

After years of reading around here, trying this and that, maybe not putting enough time in this whole forex thing, maybe, but heavily being occupied by family and demanding fulltime job, finally I came to this thread and read the pdf. This is really great stuff. I never had a single successful trade before, besides those carried out by some more or less well working Ea's I tested, live also. But since two trading days, I got addicted to S/R levels. For me it was key just to start placing those horizontal lines on my oanda demo EurUSD 1 h chart. I can't beleive, price is really behaving how anticipated by those levels most of the time. Great great stuff, could it really be so simple? Most demanding at the moment seems to be setting TA and SL levels, but I am training and learning this. But the experience of seeing the prices stopping their move at the predifined level gives such a good feeling, I never had in the years before, so thank you very much for bringing this to our attention in such a understanable and straight forward manner! Wow. If I would know how to post oanda charts here, I would do it, maybe I learn it over the next days and show up here again.