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Trend Trading All Pairs

Quoting hytten
I noticed that this is a counter trend trade. How do you determine that the price is going to fall? I tried trading counter trend and the price ended moving down just a little before it reverse and go up again. Thanks
Basically for counter trend trade i watchout for double tops/Bottons around a solid S/R with either a divergence or Pin bar formation.

Note: I trade 4hr above.

Thanks
hi I am new here and I think I see a setup according to my amateur analysis on the nzdcad 1hr.

To me it looks like all the SMA's line up it is at a fib level there is resistance level but I have heard experience is the best indicator and I do not have that yet. So if anyone has there 2 cents to add, please do
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here is a trade where the trendline collapse strategy was utilized, price has hit the final target. here is the screenshot below.
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As a man thinketh in his heart, so is he.
Quoting yemionline
here is a trade where the trendline collapse strategy was utilized, price has hit the final target. here is the screenshot below.
I've always had problem with trendline collapse strategy. How do you determine the show is over?

Please see attached. One at least I conclude that it is and uptrend scenario where the price slightly penetrated the trendline.. market not perfect. Apart from the "00 resistance, it broke the retracement trendline with a breakout pullback continuation. So how you know the price is not going up but going down instead?
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Quoting hytten
I've always had problem with trendline collapse strategy. How do you determine the show is over?

Please see attached. One at least I conclude that it is and uptrend scenario where the price slightly penetrated the trendline.. market not perfect. Apart from the "00 resistance, it broke the retracement trendline with a breakout pullback continuation. So how you know the price is not going up but going down instead?
well i guess you can say that i was abit agressive on this trade if you look carefully you wouldd see that price was almost touching the 38% fib area, pierced through the round number abit telling us that the are is a resistance zone. but u dont not just jump in right away. you need some further confirmation that price is indeed finding resistance at that area, so i waited for a 1-2-3 reversal formation after which i had the green lights.. so we had a round number in place and almost had a 38% fib level.

According to hector, you could have as many as three profit targets, but in this case since the swing is quite small we could only have twwo of them.

So about knowin when the swing is over: you simply make use of your fib tool measure the lenght of the last swing to the point of retracement after the breakout, and then move your fib tool and place it at the end of the retracement, that should give you the potential lenght of the swing. but i like being conservative with my targets so i'll just exit my second portion of the trade at about 80% of the swing just incase.

But as far as this trade is concerned we had to exit earlier becos of the strong intraweek support level located before our target projection since there was a very high chance that price would reverse at that area..

its all about price action.
As a man thinketh in his heart, so is he.
This is the screenshot in which i try to explain the above post
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As a man thinketh in his heart, so is he.
long on eurusd, but not very confident, let's just see.
stopped out. small loss. entry was too aggressive!
I have got some runing trades...

USDCHF since 02/03/2011

AUDUSD since 28/02/2011

USDJPY since 28/02/2011

Cheers
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closed AUDUSD with 153pips profit....


Quoting mayorowo
I have got some runing trades...

USDCHF since 02/03/2011

AUDUSD since 28/02/2011

USDJPY since 28/02/2011

Cheers
Quoting NightMoves
Remember earlier that I was saying that round numbers play an important role on this system as they are used for targets, stop losses...etc my grid is set up to show only those numbers here is indicator for that if you want the grid indicator let me know and I will post it with a screen shot showing the settings.
hi yess boss i want grid indicator so please give me with screen shot
I am guessing most of you are have been shorting the YEN since yesterday when the tsunami news break?


despite the destruction in japan, profit is profit
Quoting dddd
I am guessing most of you are have been shorting the YEN since yesterday when the tsunami news break?


despite the destruction in japan, profit is profit
Glad to see this thread is still going. Hope everyone is trading well.
Yes I'm still short u/j from 83.23 with some adds along the way.
please share indicator support and resistance lines

http://clip2net.com/s/P8VE

thanks
OANDA FINALLY INTEGRATES METATRADER 4 into their services.

for those interested
Good day all,

here is a setup i just entered on EURGBP.

Thanks
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Quoting dddd
I am guessing most of you are have been shorting the YEN since yesterday when the tsunami news break?


despite the destruction in japan, profit is profit
I dont understand why the YEN just keeps going up. I mean, i read the financial explanation, it just doesnt make any commonsense to me.
Quoting dddd
I dont understand why the YEN just keeps going up. I mean, i read the financial explanation, it just doesnt make any commonsense to me.

here is kathy lien take on it:

The Japanese Yen rose strongly against all of the major currencies, defying the traditional logic that external shocks are negative for an economy and its currency. The Japanese are major global investors and when things go wrong at home, money floods back east. Aside from repatriation, insurance companies also have to commit funds to Japan for claims and their flows require conversions into Japanese Yen. In response to the sharp sell-off in the financial markets and the strong gains in the Yen, the Bank of Japan has opened up the spigot gates injecting trillions of yen into the money markets hoping that it will stem the selling. We will have to wait until this evening to see how Japanese markets respond. In the meantime, as the Yen continues to rise, there has been a great deal of speculation about whether the Bank of Japan will intervene in the currency market and if the Federal Reserve will join them. In 1995, the BoJ intervened aggressively to fight against a rising Yen and the U.S. participated in part of those intervention efforts. At the time, the Yen rose to a lifetime high following the 1995 Kobe earthquake but the Bank of Japan / Ministry of Finance did not start intervening in the currency until a month later and the Fed joined a few months after that. Of course, the Yen was trading at lower levels at the time. The BoJ may not feel inclined to intervene in the Yen until USD/JPY http://www.fx360.com/App_Common/images/chart-icon.gif falls below 80. The Fed on the other hand could need more convincing. The latest economic reports show the Japanese recovery fading. Consumer confidence deteriorated in February while industrial production growth was revised lower for January. Nationwide department store sales are due for release this evening along with the BSI industry indices. Any improvements in Japanese economic data will probably be discounted because the quake will lead to weaker economic reports for the months to come.
Hello everybody, this is a setup im looking at today, let me know what you think,

Thank you,http://img717.imageshack.us/img717/7...etatrader4.png
Quoting dddd
I dont understand why the YEN just keeps going up. I mean, i read the financial explanation, it just doesnt make any commonsense to me.
im looking for sell short most of the week as chf and jpy currency demanding...int the earlier week tsunami effect kept sight that bond may safe place to buy.. but the intervation by BOJ make its spike to upside during friday....morning asian season...2 trillion! how to do sell short?
hehhehehe
stock , commodity , bond , forex
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