brad_1199

thx for the heads up on usdjpy ...Best of trades to ya

Well , you may be right .it is a mess. thanks for your insight.

Hi Brad,

I've been following this thread for almost a year.and your analytical judgment skills are impressive.wonder if you could give me an analytic judgment about GJ using Elliott wave.

Thank you .

Jude

Hi Brad.

Just got my hands on the Elliot Wave book so looking forward to get stuck into that. The Steve Nison DVDs might have to come in a little while....perhaps after I have some winning trades. The AUD/USD exchange rate isnt what it used to be and the set is about $700 US which translates into about $1000000000 AUD at the moment!!! I notice Steve Nison has a couple of books out, would you recommend them at all or better to save up for the DVD set?

I notice the USD/JPY rallied somewhat on Friday - would now be a good time to add to a short position as I missed out earlier when you recommended going short?

Thanks as always.

Have a good weekend.


Luke

G'day Brad.

Appreciate your prompt response and assistance. I'll look into the Steve Nison DVD as suggested. Another question - do you use other indicators when trading such as stochastics / RSI / MACD?

Also, when looking for trades, do you typically begin with looking at monthly charts and then work your way down to weekly / daily?

I understand about setting a stop and how to do it now so thanks for that. Typically how far past the reversal candle would you place a stop (i.e 10 pips, 100 pips or does it vary)?

My next goal is to learn where to set a realistic target - is it worth looking into Elliot Wave Analysis for that or do you have any other suggestions?

Lost a few bucks on the damn AUD / CAD but not too much so looking forward to the next trade.

Thanks again for your help - so many questions.....


Cheers

Luke (aka SleepingWolf)

Hi Brad,

Long time reader - first time poster for me here! I am newcomer to to FX and read your posts regularly as I feel you are very informed and well researched. I'm an Aussie (dont hold it against me) and have finally decided to take the plunge on a trade you suggested - shorting the AUD/CAD pair...fingers crossed! I have a couple of questions which I hope you dont mind answering if possible:

1. Are you able to recommend a website which provides useful info on Candlesticks (and perhaps suggest which candles you consider to be most important)?

2. I'm having troubles with working out where to set stops and limit prices. Are there any 'golden rules' you use? Being new to charting I get really confused as to whether to use a short term chart such as 15-mins or longer term such as the weekly / monthly which you seem to favour. I did a FX course via CD which was excellent however it was using a very short timeframe of 15-min candles and due to work and family commitments it's hard for me to sit in front of the computer all the time. I'd like to be able to place an order, set the stop and limit and then walk away...and not have to monitor the trade every minute of the day. I understand the concept of support & resistance, Fib retracements but not the Elliot Wave analysis you use which seems to be useful for setting price targets.

3. I use IG Index to trade which allows me to bet a certain amount per point move - I can also IG to do the contract however I'm not entirely sure how this works and how much exposure I will have with the position. Which option do you use?

Sorry for the long winded e-mail.

Look forward to hearing from you.


Cheers

Dear Brad
I'm just wondering whether you received my email or not:)
Salute.

Brad, this might be an odd question, but what charting package do you use. Right now I use the intellichart, but thats 100 bucks a month. Thats what they recommending using from the courses offered by fxcm.

Btw Brad, could you draw your analysis out another week.

Do you think (given the price action) that the JPY may in fact reach 102-3 next week rather than this friday? Coinciding with the Fed rate cuts.

Hi Brad, regarding the YEN movements that you expect to rally into the weekend...

With most all currencies at present, do you agree it's largely dominated by equity market moves at present? If so, that means you expect a sharp DOW rally into next week and a collapse thereafter?