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BORC - 100% Price Action No Indicator System

  • #421
  • Feb 14, 2011 7:03am Feb 14, 2011 7:03am
Quoting surewin888
It is on your signature...

Thank you surewin.
  • #422
  • Feb 14, 2011 7:05am Feb 14, 2011 7:05am
Quoting surewin888
Currently +50; SL = BreakEven

Good call on this one .. I exited before the weekend, and I am glad I did
  • #423
  • Feb 14, 2011 7:08am Feb 14, 2011 7:08am
Just checked inot the potenitals trades. I Did not take any positions so far, as really none of the pairs had a favourable formation and follow though. However a couple of the setups failed, and I may be looking to trade some breakout setups. Will update in the next few posts
  • #424
  • Feb 14, 2011 7:13am Feb 14, 2011 7:13am
failed the 4H setup with no follow through on th eprice action. NOW at the daily previous resistance level (may turn support) at the 13450 level. this level we marked a while ago as a potential BORC setup .. let's now see if we get the formation and follow though we hope for a bounce here.
Attached Image (click to enlarge)
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  • #425
  • Feb 14, 2011 7:18am Feb 14, 2011 7:18am
4HR breakout of the triangle did not work and price actually respected the upper resistance line and dived right down to the proximity of the old resistance level (may become support) .. let's see if we get a bullish formation around the levels marked on the chart.
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  • #426
  • Feb 14, 2011 7:39am Feb 14, 2011 7:39am
buy @ 3430, daily tl & res.around 3425...also 4H channel low...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #427
  • Feb 14, 2011 9:04am Feb 14, 2011 9:04am
Quoting sam69
buy @ 3430, daily tl & res.around 3425...also 4H channel low...
Waiting for confirmation on PA to go long here, as we get a bullish 4H candle on the previous candle.

Sam seems to get in at the best price but does not wait for formation or confirmation. so depends on your style of trading and risk tolerance, you can go either way
  • #428
  • Feb 14, 2011 9:05am Feb 14, 2011 9:05am
this pair is now at the zone of interest ... we are hoping for a bounce up from these levels. I will wait for candle pattern formation and PA confirmation before goign long this pair.
  • #429
  • Feb 14, 2011 9:08am Feb 14, 2011 9:08am
Please check back in around 5 PM for daily setups as it looks liek we may have a couple of interesting setups here.

USDCAD is bouncing up off the botom of the channel, and USDCHF is rejected at the top of the channel. NZDUSD, EURGBP and GBPUSD are also interesting at these levels . stay tuned....
  • #430
  • Feb 14, 2011 9:10am Feb 14, 2011 9:10am
Quoting PurePrice
this pair is now at the zone of interest ... we are hoping for a bounce up from these levels. I will wait for candle pattern formation and PA confirmation before goign long this pair.

WOW, looks like this one just got rejected for about 30 pips already... let's see if this H4 candle will continue to form bullish, and I may enter long at the 1 PM candle.
  • #431
  • Feb 14, 2011 9:17am Feb 14, 2011 9:17am
Quoting PurePrice
Waiting for confirmation on PA to go long here, as we get a bullish 4H candle on the previous candle.

Sam seems to get in at the best price but does not wait for formation or confirmation. so depends on your style of trading and risk tolerance, you can go either way

I am in this trade with a long position at 1.3480
  • #432
  • Feb 14, 2011 9:34am Feb 14, 2011 9:34am
Tried this sort of thing, wasnt reliable enough, could not asess TPs and SLs, trend channels and fixed S/R arent reliable enough in my view. Though i use these things for S/R and such, i would not trade it. But i wish you good luck, you might understand something i never did.
My signature is: "Classified".
  • #433
  • Feb 14, 2011 9:51am Feb 14, 2011 9:51am
Quoting yaed
Tried this sort of thing, wasnt reliable enough, could not asess TPs and SLs, trend channels and fixed S/R arent reliable enough in my view. Though i use these things for S/R and such, i would not trade it. But i wish you good luck, you might understand something i never did.
Well, it depends how you trade these setups. I normally wait for candle stick pattern formation around the zone of interest followed by PA confirmation. I set my SL just above/below the candle formation, and I move it as the trade develops in my favour. My TP levels are not fixed either, I start with my first TP=SL, and then once my trade develops, I move to to nearest R/S or pivot level, double zero numbers, previous high/low, whatever. I am not very rigid in my SL and TP. The R/S levels are areas of possible reversals that we can look for, but nothing is for sure, and those levels maybe broken especially when there is news. If the levels are broken, we do not trade them as reversals. We may look for a BO trade at that point in time. I normally do not just jump in at those levels before I see the market reaction first. I let the market tell me what it is doing that those zones first and "shows its hand" before I show mine. This is not to say that I will be correct each time, as that would be the holly grail. NO ONE in their right mind would tell you that they know where the market is going in the future, unless they are a furtune teller and we know how truthful these people are ... all we are doing is trying to put the odds and probabilty in our favour and exercise good money management and hope that we have a higher win/loss %, and with our TP being larger than our SL, we come ahead at the end of the month. But again, even with that we may still lose some months.
  • #434
  • Feb 14, 2011 12:01pm Feb 14, 2011 12:01pm
the EURCHF setup is loking god for bullish candle pinbar formation at current level (as we were hoping to get) .. if this PA continues in th enext candle (1 pm open) I am will be in Long.

EURUSD in not progressing all that fast, but we are a couple pips in profit as we close the current H4 candle and move on to the open of the 1 PM H4 candle.
Attached Image (click to enlarge)
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  • #435
  • Feb 14, 2011 12:07pm Feb 14, 2011 12:07pm
I kindda missed this setup earlier as I was on the daily chart of the audusd .. however going down to the 4H, I found this short, and I just got in short position.
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  • #436
  • Feb 14, 2011 12:10pm Feb 14, 2011 12:10pm
Quoting PurePrice
I kindda missed this setup earlier as I was on the daily chart of the audusd .. however going down to the 4H, I found this short, and I just got in short position.
Here is the trade with initial SL and TP setup, if anyone wonders how I set those up as I enter the trade
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  • #437
  • Feb 14, 2011 12:11pm Feb 14, 2011 12:11pm
Quoting PurePrice
the EURCHF setup is loking god for bullish candle pinbar formation at current level (as we were hoping to get) .. if this PA continues in th enext candle (1 pm open) I am will be in Long.

EURUSD in not progressing all that fast, but we are a couple pips in profit as we close the current H4 candle and move on to the open of the 1 PM H4 candle.

Here is the setup
Attached Image (click to enlarge)
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  • #438
  • Feb 14, 2011 1:51pm Feb 14, 2011 1:51pm
Quoting PurePrice
Here is the setup
Pure,
Is it your live account?
  • #439
  • Feb 14, 2011 1:51pm Feb 14, 2011 1:51pm
Quoting PurePrice
Here is the trade with initial SL and TP setup, if anyone wonders how I set those up as I enter the trade
I am out with a few pips profit... I do not like PA so much right now, as it looks like USD is getting weak
  • #440
  • Edited 2:09pm Feb 14, 2011 1:52pm | Edited 2:09pm
Quoting surewin888
Pure,
Is it your live account?

no, it is demo .. I use OANDA to trade live .. I just opened this demo to track performance of this method here.
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