I banked out 51 pips between the 2 trades and moved all my stops to BE just not enough momentum in this market today I am sitting at 19 and 41 pips between the U/J and G/A respectively right now.
--NM
--NM
Trading correlation pairs by using the other pairs 751 replies
28 Pairs Trading Panel (Multi-pairs) 0 replies
Export All pairs or selected pairs to .csv with script 3 replies
Daily Bar Analysis - All Pairs/All Welcome 15 replies
Trend Trading All Currency Pairs 3 replies
DislikedHello All...
Been awhile... reading, studying and thinking.
One of the basic rules are the 3 MA's. But at times, I think I am reading in the thread about positions that do not follow them being in order, aligned and straight in order to trade the harmonic waves going with the trend until price hits the 100ma.
I feel I missed something.
Thanks,
BRIgnored
DislikedHello All...
Been awhile... reading, studying and thinking.
One of the basic rules are the 3 MA's. But at times, I think I am reading in the thread about positions that do not follow them being in order, aligned and straight in order to trade the harmonic waves going with the trend until price hits the 100ma.
I feel I missed something.
Thanks,
BRIgnored
DislikedBR,
Here is an example of what I am talking about:
the first chart is the setup chart you can see how I had the trend lines and resistance line marked, the MA lines are in order and all pointing the same direction, which tells me we have a nice down trend on the 4 hour chart and it is tradable.
Now I zoom to the trigger chart which would normally be the 1 hr TF when using a 4 hr setup, but I used the 15 min in this case because the market was so slow. But notice how the MA lines are just everywhich way, that makes no idfference on the trigger...Ignored
DislikedNM,
Thank you. In General what I had thought.
What TF are you using on the USDJPY to get it to fit the MA's?
Thanks again!
BRIgnored
DislikedThe USDJPY I traded that different from the normal way I trade, I used the inside daily bar to take that trade. That trade was not based off of the trend and I only made around 25 pips on that trade so it really was not a good trade imo I have traded inside bars before and have had some pretty good success doing it but it is better to stick to the trend direction.
--NMIgnored
DislikedROFLMAO
You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)
ThanksIgnored
DislikedROFLMAO
You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)
ThanksIgnored
DislikedROFLMAO
You have nooooo idea what I was thinking about myself. Thought it was time for a hulla-hut (still might be!)
ThanksIgnored
Dislikedwell, actually I think the setup chart for usd/jpy is right now the weekly chart, and daily being the trigger chart.
and as nightmoves mentioned, the ma's are just a guide. You could as well delete those ma's if they confuse you.
I just find them useful, cause they always help me find which time-frame the setup chart is, but I am quite flexible in how the price behaves with the ma's.
what we trade here is price action around S/R levels with the trend. We don't trade off the ma's.
hope that helpsIgnored
DislikedI triggered an entry on the U/J and the G/A pair and sitting at 22 and 24 pips respectively, the U/J is free trade the G/A is not so I will watch that one and may have to close it out if starts retracing back to my entry.
--NMIgnored
DislikedNightMoves....hey I took one of your trades and using your method was able to squeeze out a few pips....about 25 on the GBP/AUD..... I used the BPC and it worked like gold. I entered as soon as the low from the pullback to the trend was broken and set my exit at 1.7300. The greatest thing is I feel like I have more control over the trade. Very nice...thanks again for the great thread. Makin' money is fun.
Ignored
DislikedBR,
Pull up the CADJPY and look at the 4 hour chart, then switch to the 1 hour and you see the 1 hr trend looks doomed, but the 4 hour looks good and price is where we want it.
--NMIgnored
Dislikedwell, actually I think the setup chart for usd/jpy is right now the weekly chart, and daily being the trigger chart.
and as nightmoves mentioned, the ma's are just a guide. You could as well delete those ma's if they confuse you.
I just find them useful, cause they always help me find which time-frame the setup chart is, but I am quite flexible in how the price behaves with the ma's.
what we trade here is price action around S/R levels with the trend. We don't trade off the ma's.
hope that helpsIgnored
DislikedOne of the pairs I have on watch.
Looks like we need about 89.18, to be good to go for a long.Ignored
DislikedHi Pip Dawg,
I took that same trade and so did custos, I bailed on it at somehwere around 40 pips, but yep same setup. Good Job!
I was really hoping it was going further but the whole day was pretty lathargic imo.
--NMIgnored
DislikedI just get too "antsy" when I have a profit. I know I cut myself short sometimes and leave profit on the table but I'm still learning about that patience thing. I need to just get the rules straight and stick to them I guess.Ignored
DislikedBecareful going long on that pair it is testing some longer term resistance, if you take a look at the weekly you will see it.
--NMIgnored
DislikedClose to tops going back into May 09...had seen those.
So if price is where we want it but its near a top.. wait for the top to blow then jump in or... get in watching for the resistance or go fish other waters.
Thanks!
BRIgnored