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Triangle Trading -Qs

  • #21
  • Sep 23, 2007 5:46pm Sep 23, 2007 5:46pm
Triangle setup waiting for breakout GBP/JPY 1hr TF.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 19 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #22
  • Sep 23, 2007 8:36pm Sep 23, 2007 8:36pm
Another triangle setup for today, NZD/USD 15min TF.
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"Invest With The Insiders, Not The Masses" George Muzea
  • #23
  • Sep 23, 2007 8:40pm Sep 23, 2007 8:40pm
Vice versa if price break resistance.
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Click to Enlarge Name: nzdusd.gif Size: 16 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #24
  • Sep 24, 2007 12:39pm Sep 24, 2007 12:39pm
Thank you. Could you (QuickSilver or anybody) tell me how you filter the yellow cross sign as the false signal? Do you use the other trend lines for confirmation? Or else?
Attached Image (click to enlarge)
Click to Enlarge Name: mouteki nzdusd sep 24 triangle.gif Size: 21 KB
  • #25
  • Sep 24, 2007 1:34pm Sep 24, 2007 1:34pm
Quoting santoso
Thank you. Could you (QuickSilver or anybody) tell me how you filter the yellow cross sign as the false signal? Do you use the other trend lines for confirmation? Or else?
First solution could be to look at the long term trend and not taking signals in th eopoosite direction....
.
  • #26
  • Sep 24, 2007 2:17pm Sep 24, 2007 2:17pm
Quoting bullrock
First solution could be to look at the long term trend and not taking signals in th eopoosite direction....
Oh I see. Thank you, Bullrock.
  • #27
  • Sep 25, 2007 8:12am Sep 25, 2007 8:12am
thank you very much.....thread starter...........

actually i'm also trading like this - always on the prowl for triangles and other continuation patterns...........

i'm an absolute newbie and can't forecast prices or understand complicated indicators, etc.......

but i feel by trading on breakout of continuation patterns, it's sort of letting the price come to you and dictate long or short........

i'm always aiming for just 10 pips per day.
  • #28
  • Sep 26, 2007 6:35am Sep 26, 2007 6:35am
i'm grateful to say i managed to gain 20 pips today on the gbp/jpy.........

looks like a very large and prolonged triangle on gbp/jpy right now and might just breakout in a couple days ?

if yes, it should be a huge move......
  • #29
  • Sep 27, 2007 4:39am Sep 27, 2007 4:39am
Quoting Qu|cksilver
Good question, I don't use any MA indicators but it's good if you have one.

If i trade on 30min/1hr chart, i will look it on daily trend either bullish or bearish by drawing trendline or channel.

But i think , by putting RSI or stoch to see the long term trend is fine.
hi quicksilver


i've always have problems with entries and stoplosses even though i know trading triangles is a good strategy......

i get stopped out only to see the price go in the right direction soon after !

so if i'm using 1hr or even 30min timeframe.......

1) where should i place my stoploss ?
2) at the previous support ?
3) should i buy/sell only when prices closed beyond trendline or after a certain number of pips (10 pips?) beyond trendline ?

guess i got to stop thinking i must blast out of the blocks once prices creep over the trendline..........
  • #30
  • Oct 1, 2007 3:51am Oct 1, 2007 3:51am
Quoting findcount
1) where should i place my stoploss ?
2) at the previous support ?
3) should i buy/sell only when prices closed beyond trendline or after a certain number of pips (10 pips?) beyond trendline ?
Sorry for late reply. In regard with you question, you must put your stoploss at the nearest support and buy when price open above the trend line.

Hope it helps.
"Invest With The Insiders, Not The Masses" George Muzea
  • #31
  • Oct 1, 2007 11:39pm Oct 1, 2007 11:39pm
Maybe this is a good setup for cable on 30min or 1hr chart.. I'm waiting for above break out. When price open ABOVE the trendline i will buy and the green line will be my first and second target.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 16 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #32
  • Oct 2, 2007 5:42am Oct 2, 2007 5:42am
Quoting Qu|cksilver
Sorry for late reply. In regard with you question, you must put your stoploss at the nearest support and buy when price open above the trend line.

Hope it helps.

not late at all......many thanks really......your help much appreciated.

yup, i read in a couple books and they also say the same thing as you so i'm gonna do that.

many thanks.
  • #33
  • Oct 2, 2007 5:43am Oct 2, 2007 5:43am
Quoting Qu|cksilver
Maybe this is a good setup for cable on 30min or 1hr chart.. I'm waiting for above break out. When price open ABOVE the trendline i will buy and the green line will be my first and second target.

hey, i'm looking at this too ! i think likely to break upwards ?

very frustrating for me today as i came home too late and missed breakout for eur/usd and usd/chf..........this kind of thing happening for me quite often lately.
  • #34
  • Oct 2, 2007 7:38am Oct 2, 2007 7:38am
Quoting findcount
hey, i'm looking at this too ! i think likely to break upwards ?

very frustrating for me today as i came home too late and missed breakout for eur/usd and usd/chf..........this kind of thing happening for me quite often lately.
Loking at my chart now cable already break the resistance line (above trendline) but.. someting wrong with the market for these two days (sideways).. i don't why..

Anyway, let's see what happen.. im long..
"Invest With The Insiders, Not The Masses" George Muzea
  • #35
  • Oct 2, 2007 2:38pm Oct 2, 2007 2:38pm
What's up guys? First and foremost, thanks to Quicksilver for being so generous with your time and knowledge.

I've never really traded triangles myself, but noticed this one on the 1 hr/30 min chart for EUR/JPY.

I'm taking it short on a demo, but wanted to show it in the thread in case I am off on my logic here and Quicksilver could set me straight.

(Triangle purple TL's)
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  • #36
  • Oct 2, 2007 9:09pm Oct 2, 2007 9:09pm
Quoting kharvell
What's up guys? First and foremost, thanks to Quicksilver for being so generous with your time and knowledge.

I've never really traded triangles myself, but noticed this one on the 1 hr/30 min chart for EUR/JPY.

I'm taking it short on a demo, but wanted to show it in the thread in case I am off on my logic here and Quicksilver could set me straight.

(Triangle purple TL's)
Looking at your chart EUR/JPY still uptrend. Did you sell it when price open below the trendline? Most of the time it will give you false signal if you trade against the trend.
"Invest With The Insiders, Not The Masses" George Muzea
  • #37
  • Oct 3, 2007 3:56am Oct 3, 2007 3:56am
Quoting Qu|cksilver
Looking at your chart EUR/JPY still uptrend. Did you sell it when price open below the trendline? Most of the time it will give you false signal if you trade against the trend.
I wasn't feeling too good about entering counter-trend either, but I managed to snag 20 pips. I had to exit as soon as I saw it reverse because I had to go to work. I should probably trade this method with the trend like you intended Thanks QS!
  • #38
  • Oct 3, 2007 5:49am Oct 3, 2007 5:49am
while i agree i should trade triangle or other continuation patterns with the trend to be safe, i just can't resist doing it against the trend and hope for a measly 10 pips........

i keep missing breakouts when i come home !!!

i missed the eur/usd and usd/chf again......2 days in a row !!!

by the way, any particular indicator can help confirm a breakout ?
  • #39
  • Oct 8, 2007 5:08pm Oct 8, 2007 5:08pm
nobody wanna to update this thread.....
  • #40
  • Oct 8, 2007 6:49pm Oct 8, 2007 6:49pm
Hi all...

Here is my attempt on GPBJPY using 5 min chart... I went short a little late...

http://img401.imageshack.us/img401/772/gj5minsf2.gif
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