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  • #4,181
  • Aug 22, 2012 4:57am Aug 22, 2012 4:57am
Anybody like this BRR? Not the cleanest of levels but multiple touches. If so, would you look to buy the average of all the touches, or would you hold out for the most recent 2 touches at 0.7873 which also lines up with the 38 fib. Thanks

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  • #4,182
  • Edited 3:30pm Aug 22, 2012 7:33am | Edited 3:30pm
Quoting whenwilljack
Anybody like this BRR? Not the cleanest of levels but multiple touches. If so, would you look to buy the average of all the touches, or would you hold out for the most recent 2 touches at 0.7873 which also lines up with the 38 fib. Thanks

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I would have my level around where yours is. I would use a fib to find out whether there is confluence, but I would not let it influence where the level should be placed.

Also, in my opinion, there is an equivalent level on EUR/USD which is cleaner. I would prefer to trade that instead.


EDIT: I hope you didn't take my advice about pulling the order, and didn't move your order downwards - it worked out very nicely!
  • #4,183
  • Aug 22, 2012 4:44pm Aug 22, 2012 4:44pm
NZDUSD.
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  • #4,184
  • Aug 22, 2012 5:04pm Aug 22, 2012 5:04pm
some ideas
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  • #4,185
  • Aug 22, 2012 6:13pm Aug 22, 2012 6:13pm
Nice charts Kerin.

I'm also watching the NU...will probably add your e/aud & e/cad to my call alerts as well.
  • #4,186
  • Aug 23, 2012 3:32am Aug 23, 2012 3:32am
Thanks Sam. The names Paul.
  • #4,187
  • Aug 23, 2012 5:27am Aug 23, 2012 5:27am
any Bund traders here?

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  • #4,188
  • Aug 23, 2012 1:18pm Aug 23, 2012 1:18pm
What do you guys think of this SFP setup? Second test with divergence and pretty good space to run.
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  • #4,189
  • Aug 23, 2012 1:22pm Aug 23, 2012 1:22pm
Quoting 96flavors
any Bund traders here?
Lovely level, thanks.
  • #4,190
  • Aug 23, 2012 1:31pm Aug 23, 2012 1:31pm
Quoting ShawnS
What do you guys think of this SFP setup? Second test with divergence and pretty good space to run.
Too close to this trouble area? I am no expert here though. Just my view
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  • #4,191
  • Aug 23, 2012 3:20pm Aug 23, 2012 3:20pm
BEOB at swing high on oil today. Where would you put your sell limit order at?
Thanks
Paul
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  • #4,192
  • Aug 23, 2012 3:28pm Aug 23, 2012 3:28pm
Quoting ShawnS
What do you guys think of this SFP setup? Second test with divergence and pretty good space to run.
http://i1084.photobucket.com/albums/...AD23082012.jpg

Interesting patterns in this pair recently.

It's been having a rare attempt at trending but that looks like it might have ended (temporarily?) with this possible bottom pattern back where we started.

Big SFP bullish pin on the D1 for bias down in that 9860 previous range lows.

Already seen a retest trade of of 9899 and an SFP of 9940.

Fourth time back to this level would have me looking for longs but this pair could easily go into a range.

When this pair is ranging, which is does a lot, you clean up with SFP trades.
I was trading the H4 earlier in the year before the first breakout in May and had some excellent results.
  • #4,193
  • Aug 23, 2012 3:51pm Aug 23, 2012 3:51pm
BTW, anyone know what/why those recurring spikes are in EURCHF every 24hrs?
  • #4,194
  • Aug 23, 2012 7:06pm Aug 23, 2012 7:06pm
Quoting Quidsey
http://i1084.photobucket.com/albums/...AD23082012.jpg

Interesting patterns in this pair recently.

It's been having a rare attempt at trending but that looks like it might have ended (temporarily?) with this possible bottom pattern back where we started.

Big SFP bullish pin on the D1 for bias down in that 9860 previous range lows.

Already seen a retest trade of of 9899 and an SFP of 9940.

Fourth time back to this level would have me looking for longs but this pair could easily go into a range.

When this...
Thanks for the response. So you would consider this the 4th test of the area? I was just looking at the high of the most previous swing and considered it the second test.
  • #4,195
  • Aug 24, 2012 2:34am Aug 24, 2012 2:34am
Quoting ShawnS
Thanks for the response. So you would consider this the 4th test of the area?
Yes, and as you say it's often an area/zone that we're looking at.

Nothings black and white, this is just my opinion, some traders may agree with you.
  • #4,196
  • Aug 24, 2012 3:20am Aug 24, 2012 3:20am
Anyone catch this on the DOW? Vintage Wizard trade.
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  • #4,197
  • Aug 24, 2012 3:35am Aug 24, 2012 3:35am
Quoting Quidsey
BTW, anyone know what/why those recurring spikes are in EURCHF every 24hrs?
Hi Quidsey,

Some brokers widen their spreads dramatically at different times (FXCM were doing this each UK evening) which resulted in their bid price being as low as 1.2000 and in some cases even lower.

However, other brokers keep the bid/ask very stable.

I have been trading the EUR/CHF from the long side with very tight stops and taking advantage of the upside spikes that occur from time to time that are the results of genuine movement and not wider spreads. These are pretty infrequent but make for a good Risk/Reward when they occur and again, depending on your broker, you can even collect swap on this trade.

However to do this, you do need to check with your broker and make sure that no spread widening is occuring.
  • #4,198
  • Aug 24, 2012 11:48am Aug 24, 2012 11:48am
Thanks very much mate, yes it was on a FXCM chart.
  • #4,199
  • Aug 26, 2012 3:03am Aug 26, 2012 3:03am
some ideas
Paul
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  • #4,200
  • Aug 26, 2012 5:15am Aug 26, 2012 5:15am
Nice charts Paul.

My 2 cents,

Euro looks good.

Sterling has a lot of boxes ticked but I'd be wary around that level, price has already retested on the H1. I'd be waiting for an SFP down there. GBP's a beast don't forget your helmet.

Silver yes, if it ever comes back. Gold is similar.

I was looking for an SFP of the highs to short (double top) but the weekend came and put an end to that little idea.
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