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No Brainer Trades

  • #14,201
  • Dec 10, 2010 3:06am Dec 10, 2010 3:06am
Quoting swissfortune
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....

You can go in here:

http://imageshack.us/

You cannot place Oanda chart directly as is is too big for Forex factory file manager.
  • #14,202
  • Dec 10, 2010 3:08am Dec 10, 2010 3:08am
Quoting NaughtyPip
support and resistance is completely subjective from person to person....
Exactly, but Aud/Nzd is an obvious choice. Everyone could see it
  • #14,203
  • Edited 12:14pm Dec 11, 2010 12:06pm | Edited 12:14pm
A triple top looks tempting to short, but zoom out to the weekly TF and you see this last one has made a higher close than the previous two. I think there is still risk to the upside. I'd be interested to hear anyone's thoughts on the criteria you would use to short this one. The low made on Nov 19 was either a 50% or 79% fib retracement, depending on which fractal low you start from. In either case, the 127 fib extension would give a target in 134 to 135 area.
  • #14,204
  • Dec 12, 2010 7:26am Dec 12, 2010 7:26am
Quoting Walsanshu
A triple top looks tempting to short, but zoom out to the weekly TF and you see this last one has made a higher close than the previous two. I think there is still risk to the upside. I'd be interested to hear anyone's thoughts on the criteria you would use to short this one. The low made on Nov 19 was either a 50% or 79% fib retracement, depending on which fractal low you start from. In either case, the 127 fib extension would give a target in 134 to 135 area.
yes, I see it. but at the moment I am already is not watching this pair. My short order got missed by few pips. you see, it did not reach previous high.
the only way is to see further price action. I would no go short now.
  • #14,205
  • Dec 19, 2010 3:42pm Dec 19, 2010 3:42pm
Quoting shiko
yes, I see it. but at the moment I am already is not watching this pair. My short order got missed by few pips. you see, it did not reach previous high.
the only way is to see further price action. I would no go short now.
Fundamentals seem to have AUD rising faster then NZD. I would wait for AUD/NZD to test a support level before going long. Look at price action as it test the high. THEN short or buy the break up. Check your bias. Good luck.
  • #14,206
  • Dec 21, 2010 3:53pm Dec 21, 2010 3:53pm
Oh God, another 1K pages on my "must read" list....
  • #14,207
  • Dec 21, 2010 6:14pm Dec 21, 2010 6:14pm
Quoting africa6
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.
go to Steve's site - www.nobrainertrades.com

its all here

Simon
99% of Traders fail, so don't follow the herd
  • #14,208
  • Jan 2, 2011 7:43am Jan 2, 2011 7:43am
Hello BillyRay, nice tread.
I/d like to implement here a lot of price action, just look at that chart and leave a comment. What's are the most S/R trading pairs in your opinion, because for me it's Eur/Jpy.
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  • #14,209
  • Jan 2, 2011 4:26pm Jan 2, 2011 4:26pm
Quoting SilverCerber
Hello BillyRay, nice tread.
I/d like to implement here a lot of price action, just look at that chart and leave a comment. What's are the most S/R trading pairs in your opinion, because for me it's Eur/Jpy.
Billy is gone for a while now.
Check your PM!
  • #14,210
  • Jan 2, 2011 9:37pm Jan 2, 2011 9:37pm
Quoting sweetaction
go to Steve's site - www.nobrainertrades.com

its all here

Simon
is it " the point of success/strategy archive"?
  • #14,211
  • Jan 2, 2011 11:06pm Jan 2, 2011 11:06pm
Quoting SilverCerber
Hello BillyRay, nice tread.
I/d like to implement here a lot of price action, just look at that chart and leave a comment. What's are the most S/R trading pairs in your opinion, because for me it's Eur/Jpy.
Do you mean it has the most levels? most predictable levels? respects levels? hits 00 and 50?
  • #14,212
  • Feb 5, 2011 4:56pm Feb 5, 2011 4:56pm
hi silvercerber
if we consider a simple point which most of times we ignore then we can undrestand that main support and resistance levels are working for some pairs but wont for others in a set of time.in this situation there is one major single currency is hitting its resistance or support and causing the pair charts showing resistance or support.so there is a solution for finding these critical levels:if we analyse each currency seperately then find the critical levels for them then we match the results we can reach the pairs with major returns.for example eur/usd is a pair with many intraday critical levels because each of those eur and usd has their own returns.if eur=3 and usd=3 then eur/usd=6 intraday S or R levels.usd seems to have a steady trend but eur each day have lots of news and trades because of the imbalance among the economies.i personally prefer to trade gold because of the long term stable upward trend.here is the recent trade i had the support level at 1307.8 by my system but didnt let the profit run although had determined sl=40pip and tp=190pip.i dont know how to solve this personality problem.i need your recommendations.
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  • #14,213
  • Feb 10, 2011 6:56am Feb 10, 2011 6:56am
Here is what i posted else where. Pattern here: http://www.nobrainertrades.com/2009/...r-pattern.html

http://img156.imageshack.us/i/eurk.jpg/

http://img156.imageshack.us/img156/6831/eurk.jpg

Uploaded with ImageShack.us
Making money is easy- Just dont take losing trades
  • #14,214
  • Feb 10, 2011 7:41am Feb 10, 2011 7:41am
EU maybe short?

http://i1222.photobucket.com/albums/.../eucurrent.png
  • #14,215
  • Edited 2:58pm Mar 3, 2011 9:13am | Edited 2:58pm
Going with the flow of supply seems attractive???
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  • #14,216
  • Mar 4, 2011 3:21pm Mar 4, 2011 3:21pm
It's kinda soft and quiet here these days, but the strategy is always ROCK SOLID!

ant-
  • #14,217
  • Edited 12:12am Mar 14, 2011 12:11am | Edited 12:12am
I have been reading this thread, and trying to wrap my brain around it all. After reading and looking at the charts, I think I understand. I am looking to short Eur/Usd around 1.4035, this will be countertrend so will take what I can get. If it breaks I would buy 1.4035 on a retrace and hold targeting 1.4280. The no brainer that I see atm would be short at 1.4280, and another one long at 1.3428. I know this thread is about dead, was wondering if I could get a little feedback on these trades. Are these trades you would take? If not why?

Just trying to learn the method and get a little experience.
  • #14,218
  • Mar 30, 2011 10:32am Mar 30, 2011 10:32am
hi, great thread. Thanks. taken today
http://imglink.ru/pictures/30-03-11/...fae43fbfc4.jpg
  • #14,219
  • Apr 4, 2011 7:19am Apr 4, 2011 7:19am
When there is a setup where do I place my stop?
  • #14,220
  • Apr 5, 2011 12:01pm Apr 5, 2011 12:01pm
Quoting Adilius07
Oh God, another 1K pages on my "must read" list....
Hey Adi

I have all BRV posts printed on paper. These are real gems......enjoy THE READ!

(I just realized how old this post is)
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