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BORC - 100% Price Action No Indicator System

  • #61
  • Jan 26, 2011 7:18am Jan 26, 2011 7:18am
Hey Lika,

Are you taking a SHORT position on GBPUSD?

I am in SHORT at 15850 .. SL at 15900 TP1 at 15805
  • #62
  • Jan 26, 2011 7:25am Jan 26, 2011 7:25am
here is the short trade setup
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  • #63
  • Jan 26, 2011 8:45am Jan 26, 2011 8:45am
I was looking around for something new at FF and I found this thread. Looks basic and very powerful tool. Thanks for sharing and opening my eyes wider at price action. It is always my desire to trade without any indicators at all.

Happy trading.

TL
  • #64
  • Jan 26, 2011 8:50am Jan 26, 2011 8:50am
Quoting Trendylines
I was looking around for something new at FF and I found this thread. Looks basic and very powerful tool. Thanks for sharing and opening my eyes wider at price action. It is always my desire to trade without any indicators at all.

Happy trading.

TL

Hello Trendylines,

I certainly hope you find this thread of some use and helpful in your indicator-free trading ... wishing you many pips. Please keep checking back in as I try to post setups everyday to solidify the basic knowledge of the system by trade examples.
  • #65
  • Jan 26, 2011 8:56am Jan 26, 2011 8:56am
If you did get in short on the GBPUSD trade, we have New Home Sales news coming out in less than 5 minutes, you may wish to tighten your stop.
  • #66
  • Jan 26, 2011 9:15am Jan 26, 2011 9:15am
Quoting PurePrice
If you did get in short on the GBPUSD trade, we have New Home Sales news coming out in less than 5 minutes, you may wish to tighten your stop.
Stopped out on the news. loss of 20 pips here as I did tighten my stop.
  • #67
  • Jan 26, 2011 9:28am Jan 26, 2011 9:28am
Is anyone actually following along or learning anything here? I'd like to know so that I know I am not just talking to myself an wasting my time. Thanks for responding
  • #68
  • Jan 26, 2011 9:31am Jan 26, 2011 9:31am
Quoting PurePrice
Is anyone actually following along or learning anything here? I'd like to know so that I know I am not just talking to myself an wasting my time. Thanks for responding
I'm always here buddy, and always learning. Please continue
Thanks
  • #69
  • Jan 26, 2011 9:33am Jan 26, 2011 9:33am
I am here as well, please continue. I also lost 20 pips on GBP/USD.
  • #70
  • Jan 26, 2011 9:38am Jan 26, 2011 9:38am
Quoting Lika
I'm always here buddy, and always learning. Please continue
Thanks
Thanks for responding. I will continue knowing that someone out there is listening ... lol
  • #71
  • Jan 26, 2011 9:41am Jan 26, 2011 9:41am
Quoting iferdous
I am here as well, please continue. I also lost 20 pips on GBP/USD.
Thanks for responding and it is nice to have you join us.
About the loss, it is always good to have a SL setup close when news comes out in case the news causes a reaction. Note that GBP is still struggling to get above the 1.5900 level and it is forming another doji candle up until this point. SOOO, it may still be a good idea to short if price continues down. HOWEVER, things will start slowing down now as traders wait for FOMC statement later on today at 2:15 pm NY time. So, it is possibly best to stay on the sidelines for now
  • #72
  • Jan 26, 2011 9:44am Jan 26, 2011 9:44am
Pure Price – Just started following and trying to learn, it is very interesting. Please keep it going and thanks for doing this.
  • #73
  • Jan 26, 2011 9:57am Jan 26, 2011 9:57am
I've been following FF for I year, trading micros with little success, but I can see the simplicity in this system. Is there a preferable TF?
  • #74
  • Jan 26, 2011 10:09am Jan 26, 2011 10:09am
Quoting Okie FX
Pure Price – Just started following and trying to learn, it is very interesting. Please keep it going and thanks for doing this.

Thanks for joining us, and I hope you wil learn a thing or two from this thread. Happy trading.
  • #75
  • Jan 26, 2011 10:15am Jan 26, 2011 10:15am
Quoting PurePrice
Thanks for responding and it is nice to have you join us.
About the loss, it is always good to have a SL setup close when news comes out in case the news causes a reaction. Note that GBP is still struggling to get above the 1.5900 level and it is forming another doji candle up until this point. SOOO, it may still be a good idea to short if price continues down. HOWEVER, things will start slowing down now as traders wait for FOMC statement later on today at 2:15 pm NY time. So, it is possibly best to stay on the sidelines for now

NO trade short on this one, as the candle did not close bearish.
  • #76
  • Jan 26, 2011 11:07am Jan 26, 2011 11:07am
Quoting drummer
I've been following FF for I year, trading micros with little success, but I can see the simplicity in this system. Is there a preferable TF?

I personally like 1HR timeframe.
  • #77
  • Jan 26, 2011 11:38am Jan 26, 2011 11:38am
There may be a reversal BORC trade developing around this level. Watch PA closely and again, high impact news FOMC statement coming out in a little over one hour, so be cautious.
  • #78
  • Jan 26, 2011 11:47am Jan 26, 2011 11:47am
Quoting PurePrice
Is anyone actually following along or learning anything here? I'd like to know so that I know I am not just talking to myself an wasting my time. Thanks for responding
Just a short message to say that I like your thread very much. There are not a lot of traders on FF who can trade the 1h like you do - the 1h being the division between swing trading and intraday.

Thank you, I am subscribed.





_____________
michael
Be like water.
  • #79
  • Jan 26, 2011 11:51am Jan 26, 2011 11:51am
Quoting msmarple
Just a short message to say that I like your thread very much. There are not a lot of traders on FF who can trade the 1h like you do - the 1h being the division between swing trading and intraday.

Thank you, I am subscribed.





_____________
michael

Thank you msmarple for your kind words .. glad to have you with us.
  • #80
  • Jan 26, 2011 11:56am Jan 26, 2011 11:56am
I know I know .. i keep going back and forth on this one, but this pair is certainly not able to close above the 1.5900 mark for the last few hours, even though it has tried on a few of those one hour candles. This is the level where there is BORC setup with a downtrendline confluence, and the round double zero 15900 number acting as resistance. Will we see this level hold and the gbpusd tank from here?? Again, as mentioned above the GBPJPY may also be reversing at current levels thereby helping the gpbusd to go down also. Watch PA closely as FOMC is coming out in about 75 minutes. If we do not get the reversal we are waiting for, we may get a continuation and a fast breakout, if you so wish to trade (and are yourself comfortable with) this setup ... let's see where PA takes us ....
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