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Directional Movement

  • #281
  • Apr 22, 2009 6:17am Apr 22, 2009 6:17am
cad/jpy trade that I am currently in.

PA now at some support so thinking about locking in some profit.
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  • #282
  • Apr 24, 2009 2:21am Apr 24, 2009 2:21am
Hi AC

If at 0700 GMT, you notice that the signals for the system were all generated pre 0700 GMT and getting in at 0700 would be getting into the signal late, do you still go in or do you wait for another fresh signal start?

In any trades this morning?
_______________ Say Good-bye to Buy-and-Hold
  • #283
  • Apr 24, 2009 3:15am Apr 24, 2009 3:15am
Quoting deltaworld
Hi AC

If at 0700 GMT, you notice that the signals for the system were all generated pre 0700 GMT and getting in at 0700 would be getting into the signal late, do you still go in or do you wait for another fresh signal start?

In any trades this morning?
Hi Delta,

Good question.

Yes I tend to go in on a trade at 7 a.m if the indicators are correct.

I am currently in eur/usd.
  • #284
  • Apr 24, 2009 3:24am Apr 24, 2009 3:24am
Quoting ACartwright
Hi Delta,

Good question.

Yes I tend to go in on a trade at 7 a.m if the indicators are correct.

I am currently in eur/usd.
I got a signal for g/u as noted by the brown line.. Entered at 0800gmt and the euro news had impacted in a weaker dollar. This got me stopped out with a -42pips

It looks like you are on the right side of the news for e/u, congrats!!

On the same topic as the question this morning, I am looking at the e.u trade and the signal candle finished at 0600 GMT, does that mean at 0700, you go in one signal late?
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_______________ Say Good-bye to Buy-and-Hold
  • #285
  • Apr 24, 2009 3:50am Apr 24, 2009 3:50am
Quoting deltaworld
I got a signal for g/u as noted by the brown line.. Entered at 0800gmt and the euro news had impacted in a weaker dollar. This got me stopped out with a -42pips

It looks like you are on the right side of the news for e/u, congrats!!

On the same topic as the question this morning, I am looking at the e.u trade and the signal candle finished at 0600 GMT, does that mean at 0700, you go in one signal late?
There was a signal on e/u at 0600 GMT - I entered on the close of this candle (i.e. start of 0700 GMT)

Sometimes I start the day a little later - I just then wait for the signals from there.

I would be cautious of joining a trade that had already moved a good distance.

i.e. if at 0700 GMT the e/u had already moved 300 pips in the early hours even if the indis remained good I would be a little wary.

I always try to get in on the trade at earliest possible stage as from this point b/e can happen a lot quicker.

On the g/u there was divergence on the -DMI. - DMI was not getting greater whilst price was making new lows.
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  • #286
  • Apr 27, 2009 2:12am Apr 27, 2009 2:12am
Good Morning & Good week

I have just entered long USD/CHF. it looks like a good setup.
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  • #287
  • Apr 27, 2009 4:01pm Apr 27, 2009 4:01pm
Anyone else take this trade...my entry was timed using my M1 and M2 systems.

I always watch this pair. Hung with trade most of day while at work....as long as price stayed below 8MA.

Closed just above 126, although I should still be in the trade as price still below the 8MA. Exit strategy was to stay in the trade as long as price did not close above the 8MA for two consecutive candles.

The best entry was on the first or second candle of the day...but it's hard for me to enter a trade that early in the week.

Cheers
CanuckCT
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  • #288
  • Apr 27, 2009 4:56pm Apr 27, 2009 4:56pm
Well done on a good spot on that trade, no I missed the whole euro thing today. I just stuck with one trade the usd/chf. I banked a few pips just before the big candle on usd/chf. Should have been patient.
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  • #289
  • Apr 27, 2009 11:32pm Apr 27, 2009 11:32pm
Stop move to BE.....and looking for a big move down.
Cheers
CanuckCT
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  • #290
  • Edited 3:32am Apr 28, 2009 3:20am | Edited 3:32am
It Looks like the Euro/USD has been oversold over the last few days and has now consolidated over a key support level of 1.3 with a potential of a rebound over the next few hours.

Also looking at the USD/CAD. There is potential move to the upside, weakening the loonie.

From looking at those 2 charts and that the signal was generated for Eur/CAD, long, but for how long, I don't know I guess look out for any point of reversal on any of the 2 charts above.

Happy Trading and good luck

Edit: I was looking through my past RSS feeds and I found this article, which aids my hypothesis on the long move of eur/cad

http://www.dailyfx.com/story/trading...872281850.html
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  • #291
  • Apr 28, 2009 11:01am Apr 28, 2009 11:01am
hi acartwright....i entered a long in euro at 1.3077 as +dmi (up from 19.7 to 24) is greater than -dmi & adx rose from prev 28 to 28.3...watching stop 1 pip below low at 1.3048. is this entry correct? tks
  • #292
  • Apr 28, 2009 11:16am Apr 28, 2009 11:16am
Quoting sholmes9000
hi acartwright....i entered a long in euro at 1.3077 as +dmi (up from 19.7 to 24) is greater than -dmi & adx rose from prev 28 to 28.3...watching stop 1 pip below low at 1.3048. is this entry correct? tks
Hi Sholmes

At the brown line indicated is the signal, normally you would place the stop at the low of the signal candle +/- spread

The low of the signal candle on my chart says 1.30477 but looking at that candle it does not have a wick and entry is so close to stop that it doesn't give the pair to breathe. So taking the previous candle's wick low at 1.30355 and I have a 2pip spread on my a/c so
I would set the stop to 1.30335

As soon as you are +31.6 pips then set it to b/e

(This is my personal opinion, I may be wrong.)

I hope this helps
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_______________ Say Good-bye to Buy-and-Hold
  • #293
  • Apr 28, 2009 11:24am Apr 28, 2009 11:24am
Quoting deltaworld
The low of the signal candle on my chart says 1.30477 but looking at that candle it does not have a wick and entry is so close to stop that it doesn't give the pair to breathe. So taking the previous candle's wick low at 1.30355 and I have a 2pip spread on my a/c so
I would set the stop to 1.30335

As soon as you are +31.6 pips then set it to b/e

(This is my personal opinion, I may be wrong.)

I hope this helps
tks very much deltaworld! appreciate you responded so soon, it doesnt matter if it's right or wrong. i was a little concerned abt my entry as i'm still new to this system & not sure i have entered correctly. what you said about stops is quite true, will adjust it according. thanks heaps!
  • #294
  • Apr 28, 2009 12:54pm Apr 28, 2009 12:54pm
hi acartwright and deltaworld, what's your common strategy for tp? do you look at sup & res levels to decide? cos in current euro trade, i've moved sl to b/e initially but as price went higher, have trailed stop to 1.3107 just in case it retraces. also tempted to get out here cos want to enjoy the champs league game in abt an hour's time without any position. can advise? tks.
  • #295
  • Apr 28, 2009 12:59pm Apr 28, 2009 12:59pm
Quoting sholmes9000
hi acartwright and deltaworld, what's your common strategy for tp? do you look at sup & res levels to decide? cos in current euro trade, i've moved sl to b/e initially but as price went higher, have trailed stop to 1.3107 just in case it retraces. also tempted to get out here cos want to enjoy the champs league game in abt an hour's time without any position. can advise? tks.
yes s/r is a good place to get out of trade at the moment €/$ is at resistance of 13135 which it reached and is now consolidating at that point..

Or you can trail stop loss and leave it running. I had a position with nzd/usd last week that was on an uptrend but it was getting late and I needed to go to bed it was already on b/e so I just set it on trailing stop and in the morning I had closed the position with a +62 pip gain. if you have time to monitor it, a FF trader on this thread had a great exit strategy, so simple on the MA at 8 candles and if it closes twice consecutively below then you get out, but whatever you feel is appropriate.
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  • #296
  • Apr 28, 2009 1:11pm Apr 28, 2009 1:11pm
Quoting deltaworld
if you have time to monitor it, a FF trader on this thread had a great exit strategy, so simple on the MA at 8 candles and if it closes twice consecutively below then you get out, but whatever you feel is appropriate.
tks deltaworld! tks very much for your help.
you mentioned abt MA at 8 candles, do you know where i can find the thread....would like to learn more abt it. tks.
  • #297
  • Apr 28, 2009 1:20pm Apr 28, 2009 1:20pm
Quoting CanuckCT
Anyone else take this trade...my entry was timed using my M1 and M2 systems.

I always watch this pair. Hung with trade most of day while at work....as long as price stayed below 8MA.

Closed just above 126, although I should still be in the trade as price still below the 8MA. Exit strategy was to stay in the trade as long as price did not close above the 8MA for two consecutive candles.

The best entry was on the first or second candle of the day...but it's hard for me to enter a trade that early in the week.

Cheers
CanuckCT
Hi SHolmes. The exit strategy relating to 8MA is the one attached here from CanuckCT, which he demonstrated on eur/jpy (chart shown). This I have quickly back tested this on a few trends and when you have long trends it can keep you in them to the very end, but when there are quick reversal you may be caught out, especially on news releases or big sudden changes in market sentiment.
_______________ Say Good-bye to Buy-and-Hold
  • #298
  • Apr 28, 2009 1:28pm Apr 28, 2009 1:28pm
Hi guys,

My interpretation of eur/usd.

In 13076 and SL 13045.

Also in answer to Holmes post - be careful you do not get mixed up between ADX and DMI.

It is the ADX that needs to rise 3 off bottom and not necessarily the DMI.

Delta - you may have got confused as you seem to mention the down candle as the one you get in on as you mention the entry is close to the stop.

Al
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  • #299
  • Apr 28, 2009 1:40pm Apr 28, 2009 1:40pm
Exactly Delta....the use of the 8SMA is when you catch a trade that starts to trend.

It's one way to keep you in a trade that really starts to move in your favor. The way I use it is if there are 2 consecutive candles that close on the other side of the 8SMA, you close the trade. So basically you check it every couple of hours when price is near the moving average..

The other thing I look at is significant points of support and resistance using H4 and up and the hourly MACD cross.

Cheers
CanuckCT



Quoting deltaworld
Hi SHolmes. The exit strategy relating to 8MA is the one attached here from CanuckCT, which he demonstrated on eur/jpy (chart shown). This I have quickly back tested this on a few trends and when you have long trends it can keep you in them to the very end, but when there are quick reversal you may be caught out, especially on news releases or big sudden changes in market sentiment.
  • #300
  • Apr 28, 2009 1:44pm Apr 28, 2009 1:44pm
tks once again for your help deltaworld! really appreciate for posting attachment.

and hi to acartwright & tks for replying too.

noted on the dmi & adx.

one quick question, if adx is falling say from 35 to 30 & during this time a dmi crossover happens (with crossover dmi value >20), thereafter adx rebounds from 30 to 30.1....we can still take trade even though the adx are of fairly high value & the jump is a small 0.1, yes? tks

sorry if question sounds illogical but really like your system & still new with it.
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