Yeah, I always trade London open I don't like New York session. Too much news for my taste.

No Brainer Trades

It would have been a real good trade. Higher probability hard to imagine. Clear support 1.5498-1.5472 on daily.

No Brainer Trades

I have to admit that Oanda being generally a good broker constantly has this problem of spread during and after news that lingers and missing limit orders by pip or pip fraction. I am used to open limit orders on both Oanda and MT4 and Oanda misses ...

No Brainer Trades

now Oanda has 10 pips spread and I was not able to enter again at 1.5570

No Brainer Trades

this sucks big time. image Uploaded with ImageShack.us missed trade by less than 1 pip.

No Brainer Trades

I think you did right. The trend is still up and below is strong support. I avoid going short now. I am either long or flat.

No Brainer Trades

Big boyz probably liquidated long position and now taking us back to 1.5661 and may be lower. I found it really helps to think of big boyz when we see some S/R holds or breaks.

No Brainer Trades

we are looking at the same level right now to the pip. PP at 1.5633. I am watching for 1.5640-1.5642 to get broken to the upside which will tell that PP holds and there is still interest at this level (big boyz) and the break out of the level points ...

No Brainer Trades

It's kinda getting messy. I usually keep only the closest S/R areas on my chart at the session I trade. I think that color of candle doe snot actually matter as a indication if S/R area will hold or not. But price action can indicate this. I have ...

No Brainer Trades

Yes, good point. I have been actually trading this way for more than a year now. I am not touching PP when it is just PP although it might work as well, but when you have confluence of PP with some S/R on 1-4H it is a very high probability trade. It ...

No Brainer Trades

Yeah, exactly as doctor prescribed. Trend is your friend, and BRW's advise not to take trade once target was hit close and rebounded. Shorted from above mentioned level once 1.5667 got broken. bagged 20 pips. but it looks like this thing keeps ...

No Brainer Trades

I would stay away for now. Tried to go short on 1.5761 break down setting limit order at that price, it fell like a stone. Market is very hot this week. My orders getting missed all the time and then i cancel them.

No Brainer Trades

The nearest level just almost got touched 1.5663-1.5654 It bounced back , so it is 40 pips up so, I think it is not a good proposition now, but should be watched may be to enter short on break down. image

No Brainer Trades

cuz this topic has been in discussion since 2005-2006 at No Brainer Trades thread Forex Factory. That one is the best place for S/R based trading, no need for another one.

Support & Resistance ONLY Trading

Oh yes! But this is not a system. It is a method which is a big difference. You cannot trade it automatically without thinking and making your daily plan. Read first page carefully, read especially first 100-200 pages carefully as well and start ...

No Brainer Trades

Man, we took leaf from the same book actually I always try to enter on the first attempt. If it got missed I cancel order. Tonight that was 1.3147 short of Eur/ Usd. Moreover, I waited until it got broken to upside and set limit order same price ...

No Brainer Trades

Yes, I am sure it is what he actually means. My experience generally shows that hit rate when going along the trend is much higher than when taking contra trend trades. It is also much safer and I can use more leverage actually.

No Brainer Trades

I think that Steve's example is about going against the trend. In this case you are trying to trade along the trend so it is not applied same way as against the trend.

No Brainer Trades

That's right. My favorite pair, but for some time there is no no brainers there. the only one actually was last week. 113.46 last week took long as it was previous few weeks high that got broken and it worked like a charm. now back into ...

No Brainer Trades

The good thing about Forex that it is extremely liquid market, unlike for example stocks. Whatever works on $100 account works on $1 000 000 account. The difference is only in size and if there is no fear of trading big size, there will be no ...

In FOREX, is 10% return per month good enough?