Yeah, I do. Equities are getting hammered (I'm watching the DOW right now), and this move has been pretty strong and fast. This is where I want to be on the sidelines until there's a strong technical level to take a trade at.

No Brainer Trades

Also equities are down (DOW nearly 230, S&P ~25), perhaps returning the correlation a bit from recent times. I'm watching 1.6050 on the GBPUSD.

No Brainer Trades

I'm quoting this in hopes that BRV can address it, because I'm not really sure if this is just a temporary thing, or if the correlation may've actually changed. ---- Also BRV, if you don't mind, could you take one of your trades you made today and ...

No Brainer Trades

I went short on that trade. Everything was pointing towards at least a correction of earlier gains. I got pretty terrible execution from my broker, almost 12 pips away from where I placed the market order, around 1.2900. Hopefully it's just a drop ...

No Brainer Trades

Letting this (1.29) level go most likely. Would like to go short, but equities are still up so I think I'm going to wait to see what happens. If it does break short, the next price I'm watching is 1.2800. If it bounces, will wait for a good ...

No Brainer Trades

Keeping an eye on 1.2900 right now

No Brainer Trades

ODL securities platform has the dollar index I believe.

No Brainer Trades

Yeah, in a case like this, the GBPUSD I think was way overextended in terms of movement, and I'd expect consolidation or a retracement down before any further substantial gains.

No Brainer Trades

Nice post BRV in regards to macro outlook and daily conditions. I think it really ties in with patience, too. If you wait for an alignment of 'forces' (long-term fundamental, short-term fundamental, technical), your trades will be much more decisive ...

No Brainer Trades

We've already had 500+ pips long on GBPUSD, it may be a little overplayed by this point. What is your SL and target?

No Brainer Trades

To make things simple for myself, I've thought of breakouts on S&R lines like this: support is a psychological level that is considered a cheap price for the currency pair given the current fundamental conditions. Resistance is overpriced given the ...

No Brainer Trades

He gets the levels from the charts... that is the point of the thread (unless I am misreading what you are asking). Check out the pdf for more info.

No Brainer Trades

Ah, nice work. It's moving down now again, stocks continue to drop, and if the past few weeks are any indication and there's a drastic sell-off in equities in the next 90 minutes, you could be in for another huge chunk of pips.

No Brainer Trades

Hi lafedgar, Try choosing the attach chart option instead of attach workspace (which I think you chose). It makes things much clearer ----- Willow, what is your target? There's some resistance around 1.2625 (which it's at right now) and 1.2580, ...

No Brainer Trades

Stock = equity. You might want to think about picking up an intro to investments/finance book if you are going to seriously trade. The markets are so interrelated, I can't imagine being able to trade without knowing what equities means. You could ...

No Brainer Trades

Nice analysis djambazov. Another thing to keep on your mind, only a few hours left in the trading day, week, and month... would be very surprised to see a huge breakout anywhere. Sometimes it's the little things that can make all the difference.

No Brainer Trades

Hi thewizard, I think fibs are great, especially when they line up with S&R-- the more confluence, the better! Fibs, like S&R, project price action, as opposed to your standard indicators (MAs, RSI, etc.) which lag price action. This a good thing. ...

No Brainer Trades

Thanks BRV, that's a great example and definitely a high % trade. Breakouts are something that I've learned from the ground up by myself, i.e. just something I started trading without any strategies or guides, so it's great to get a small lesson on ...

No Brainer Trades

I tried to play a breakout on the UJ around 97.80, got burned really quickly! In two minutes the UJ dropped ~80 pips triggering my entry, before immediately turning around and going 80 pips in the opposite direction in the next 5 minutes. Chock ...

No Brainer Trades

Don't have access to my charts right now, but the dollar has seen a lot of action lately. It would not be uncommon for it to consolidate for a while, especially as we enter the weekend soon. Just a thought.

No Brainer Trades