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BORC - 100% Price Action No Indicator System

  • #241
  • Feb 2, 2011 3:18pm Feb 2, 2011 3:18pm
hourly long BORC setups on eurchf and gbpchf. Again the breakouts were small, so I expect small TP and SL
  • #242
  • Feb 2, 2011 3:19pm Feb 2, 2011 3:19pm
same short trade setup we had twice before on the upper boundary of a downtrend channel.
  • #243
  • Feb 2, 2011 3:55pm Feb 2, 2011 3:55pm
Quoting PurePrice
hourly longs on those 2 pairs .. SL and TP are quite small

News out of kiwi land was bad for the nzd .. so it went down sharply. Cancel long on this one.
  • #244
  • Feb 2, 2011 4:07pm Feb 2, 2011 4:07pm
Hmmm, after looking closer at this pair, I see that it went down sharply, as mentioned earier, but now stalling at the channel, see "blue arrow" for setup. Watch this pair
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  • #245
  • Feb 2, 2011 4:16pm Feb 2, 2011 4:16pm
Hi PurePrice,

I am still long on the EURUSD, due to a a couple of factors:
1. trend line break
2. Trend Line break is smack bang in the middle of the Daily average range for the pair.
3. The 4H timeframe is trending in the same direction at the moment.

My SL is very tight, 16pips and my TP is 50pips (+- 1.38544) I am using a trade manager as it's getting late and I am going to let this trade run it's course. TM will automatically adjust my SL as the trade (hopefully) moves in profit.

Could you critique this trade and let me know if I have miss-analysed it?

Cheers
StaticX
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  • #246
  • Feb 2, 2011 4:32pm Feb 2, 2011 4:32pm
Quoting StaticX
Hi PurePrice,

I am still long on the EURUSD, due to a a couple of factors:
1. trend line break
2. Trend Line break is smack bang in the middle of the Daily average range for the pair.
3. The 4H timeframe is trending in the same direction at the moment.

My SL is very tight, 16pips and my TP is 50pips (+- 1.38544) I am using a trade manager as it's getting late and I am going to let this trade run it's course. TM will automatically adjust my SL as the trade (hopefully) moves in profit.

Could you critique this trade and let me know if I have...
It is all good analysis, BUT, this is certainly not a BORC setup as you described, it is a TL breakout. So far, we do not trade breakouts in this thread. We trade the retrace (pulback) to the breakout zone.
  • #247
  • Feb 2, 2011 4:38pm Feb 2, 2011 4:38pm
Hi PurePrice,

Ok, my bad. (It's super late here and my brain is starting to shutdown)

If I were to follow a BORC setup, should I have waited for the price to pullback to the trendline, then watched for the continuation? (say on a lower timeframe for an optimized entry)

Cheers
StaticX
  • #248
  • Feb 2, 2011 9:08pm Feb 2, 2011 9:08pm
Quoting StaticX
Hi PurePrice,

Ok, my bad. (It's super late here and my brain is starting to shutdown)

If I were to follow a BORC setup, should I have waited for the price to pullback to the trendline, then watched for the continuation? (say on a lower timeframe for an optimized entry)

Cheers
StaticX
yes Static, that is the premise of this method
  • #249
  • Feb 2, 2011 10:20pm Feb 2, 2011 10:20pm
Quoting PurePrice
Hmmm, after looking closer at this pair, I see that it went down sharply, as mentioned earier, but now stalling at the channel, see "blue arrow" for setup. Watch this pair
PurePrice, if PA likely stalls out down here it might be because the asian PPMs realize they will make more money by not shorting it further down, but by waiting for the euro PPMs to hike the price back up for their round of shorting it down.. and the asian PPMs will again short it back down with them.

With all the USD High Impact releases coming, and spread hours apart, there will be plenty of time for everyone, after the PPMs hike the price, to build short positions again for another strong leg down later.

Already the PA/Volume study from late yesterday shows the PPMs loaded up at the top and on the first drive down from the top. So, it is not unreasonable that there might be another price hike and more of the same today, with the USD High Impact releases being the catalyst.
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  • #250
  • Feb 3, 2011 2:45am Feb 3, 2011 2:45am
Quoting PurePrice
did not have many setups to trade today.

Did anyone trade any of the recommendations last night?

There were a few successful ideas such as

eurgbp for about 30 pips
eurchf for about 30
gbpchf for 100 pips

and of course audusd short for about 60 pips
Hi PP, I think, we have to wait that Trichet speaks today at 13,30 / 14,00 GMT, because maybe something change for Interest rate (maybe decide for push up it).... we waiting....
Cheers
  • #251
  • Feb 3, 2011 5:49am Feb 3, 2011 5:49am
Hi Guys,

There is an interesting situation on gold. On H1 price made nice SHS, touched downward trendline 4 times and now is stuck in the range showed on the chart. If price spikes through the trendline north I will be interested to play pullback either back to TL or more preferably to upper zone of the range 1343-1345. That would be countertrend trade on H1 but with trend on D1.
Let's see if on bigger scale gold resumes trend or continue correction.
SHS pattern makes trend continuation more propable.

Cheers,
Chris
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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #252
  • Feb 3, 2011 7:02am Feb 3, 2011 7:02am
Quoting PurePrice
hourly long BORC setups on eurchf and gbpchf. Again the breakouts were small, so I expect small TP and SL

These two pairs worked well, and if you were to let profits run on these pairs, you would have made some handsome pips.
  • #253
  • Feb 3, 2011 7:04am Feb 3, 2011 7:04am
Quoting PurePrice
same short trade setup we had twice before on the upper boundary of a downtrend channel.

Went down about 60 pips
  • #254
  • Feb 3, 2011 7:05am Feb 3, 2011 7:05am
Quoting PurePrice
hourly longs on those 2 pairs .. SL and TP are quite small

Still hanging out at the previous resistance (may turn suport) level , although with Tricket speaking, any technicals may go out the window .. keep a close eye on this one
  • #255
  • Feb 3, 2011 7:09am Feb 3, 2011 7:09am
Quoting PurePrice
Hmmm, after looking closer at this pair, I see that it went down sharply, as mentioned earier, but now stalling at the channel, see "blue arrow" for setup. Watch this pair

This one is still hanging out at the 0.77 figure and has not gone thru our old resistance (which we hope to turn into support) .. we may still get the reversal we are waiting for here .. keep an eye on this one
  • #256
  • Feb 3, 2011 8:34am Feb 3, 2011 8:34am
EURJPY and EURCHF long setups on hourly charts
  • #257
  • Feb 3, 2011 8:41am Feb 3, 2011 8:41am
hourly LONG setup .. watch PA here
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  • #258
  • Feb 3, 2011 8:42am Feb 3, 2011 8:42am
hourly long setup here . watch PA
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  • #259
  • Feb 3, 2011 9:22am Feb 3, 2011 9:22am
Long hourly setup
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  • #260
  • Feb 3, 2011 9:35am Feb 3, 2011 9:35am
Obviously the EUR is getting its ass kicked right now beause of our buddy Trichet. So, for now we won't take any long EUR positions.
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