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Weekly Trend Trading Method

  • #201
  • Nov 1, 2009 5:49pm Nov 1, 2009 5:49pm
Quoting lgtj
I was checking my charts and look at what I saw. Gbpjpy daily is forming a conservative valid signal to go short. Price has bounced off of the upper trend line of the downtrend channel, and now it's forming a valid signal. I'm going to keep my eye on this one.
lg, how many curriencies you trend with this method?
  • #202
  • Nov 1, 2009 6:02pm Nov 1, 2009 6:02pm
Quoting TheFutureAce
lg, how many curriencies you trend with this method?
13 pairs. They're posted on page 5 post #67. You can trade this method on any pair. Just be careful with the choppy pairs like eurchf.
  • #203
  • Nov 1, 2009 6:12pm Nov 1, 2009 6:12pm
Quoting lgtj
13 pairs. They're posted on page 5 post #67. You can trade this method on any pair. Just be careful with the choppy pairs like eurchf.

k thanks. Sorry if I am asking too many questions but in the above chart of gbpjpy, when the price is going up frmo 140 - gbpjpy, we didnt get an arrow for the 2ma crossover? if we could have caught that one...that would have been perfect
  • #204
  • Nov 1, 2009 6:19pm Nov 1, 2009 6:19pm
Quoting TheFutureAce
k thanks. Sorry if I am asking too many questions but in the above chart of gbpjpy, when the price is going up frmo 140 - gbpjpy, we didnt get an arrow for the 2ma crossover? if we could have caught that one...that would have been perfect

sorry should have zommed out before asking u this question.
  • #205
  • Nov 1, 2009 6:24pm Nov 1, 2009 6:24pm
Quoting TheFutureAce
k thanks. Sorry if I am asking too many questions but in the above chart of gbpjpy, when the price is going up frmo 140 - gbpjpy, we didnt get an arrow for the 2ma crossover? if we could have caught that one...that would have been perfect
The 2ma cross is on the previous candle which was on friday. The 2ma cross appeared today because with ibfx, the sunday candle is a continuation of the friday candle. The same thing happened with usdjpy. The rest of the indicators are confirming the 2ma crossover today. Please feel free to ask as many questions as needed. You're here to learn this method, and I'm here to teach you. Your questions are helping others who are reading this thread also.
  • #206
  • Nov 1, 2009 6:52pm Nov 1, 2009 6:52pm
Quoting lgtj
The 2ma cross is on the previous candle which was on friday. The 2ma cross appeared today because with ibfx, the sunday candle is a continuation of the friday candle. The same thing happened with usdjpy. The rest of the indicators are confirming the 2ma crossover today. Please feel free to ask as many questions as needed. You're here to learn this method, and I'm here to teach you. Your questions are helping others who are reading this thread also.
thanks lg
  • #207
  • Nov 1, 2009 6:54pm Nov 1, 2009 6:54pm
Quoting TheFutureAce
thanks lg
You're welcome.
  • #208
  • Nov 1, 2009 7:33pm Nov 1, 2009 7:33pm
Is that a possible buy signal on weekly usdcad? Everything seems right except for the RSI which is just on 50. Is this something that we should be watching?
  • #209
  • Nov 1, 2009 8:53pm Nov 1, 2009 8:53pm
I personally do not have any indication...yet

Do you mind posting a shot of it.....I think my IBFX is still being weird.

I still have quite a bit of space between my RSI and 50.

I have a feeling that the monthly pivot (1.07920) will be a target before going long..

Just my thoughts...we'll see
  • #210
  • Nov 2, 2009 12:39am Nov 2, 2009 12:39am
Quoting Scratch99
Is that a possible buy signal on weekly usdcad? Everything seems right except for the RSI which is just on 50. Is this something that we should be watching?
Good observation. Usdcad weekly is not quite ready yet because the rsi is riding on the 50 line(red arrows). But watch this pair from the daily charts. It looks like it is in retracement mode right now.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 33 KB
  • #211
  • Nov 2, 2009 9:51am Nov 2, 2009 9:51am
Hi lgtj,

I have a quick question in regards to aggressive trade setups. If you get a EMA cross over signal to go long, and an aggressive signal sets up on the next daily bar i.e 15 / 30 slope indicators different, rsi and macd are setup. would you then go down to 4hour chart to find trade? Or can aggressive trades only be taken if all the indicators including the 2 EMA's setup on the same day?

Thank you
  • #212
  • Edited 11:38am Nov 2, 2009 11:27am | Edited 11:38am
Quoting kaaea
Hi lgtj,

I have a quick question in regards to aggressive trade setups. If you get a EMA cross over signal to go long, and an aggressive signal sets up on the next daily bar i.e 15 / 30 slope indicators different, rsi and macd are setup. would you then go down to 4hour chart to find trade? Or can aggressive trades only be taken if all the indicators including the 2 EMA's setup on the same day?

Thank you
If the set up occurs on the same candle or if the 2ma appears first and then the 15 slope is different from the 30 slope with the rsi and macd set up on the next candle, then drop down to the 4hr chart and enter at the high of the last 4hr candle of that daily candle. The conservative or aggressive signals do not have to occur on the same candle.
  • #213
  • Nov 2, 2009 5:40pm Nov 2, 2009 5:40pm
After a week of trial and error and Q&A from tech.,

I'm throwing in the towel on IBFX.

It went a little like.. , , ,


With no answers why there are HUGE gaps in my feed, I cannot even TRY! (see chart)

It seems to be working GREAT for everybody else....so

I will stick to my Alpari US and UK.

I hope nobody else has this problem!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad ibfx errors.gif Size: 37 KB
  • #214
  • Nov 2, 2009 9:50pm Nov 2, 2009 9:50pm
Quoting Mrezoot
After a week of trial and error and Q&A from tech.,

I'm throwing in the towel on IBFX.

It went a little like.. , , ,


With no answers why there are HUGE gaps in my feed, I cannot even TRY! (see chart)

It seems to be working GREAT for everybody else....so

I will stick to my Alpari US and UK.

I hope nobody else has this problem!
Did you call ibfx about the problem?
  • #215
  • Nov 2, 2009 10:48pm Nov 2, 2009 10:48pm
No I did not call...
I assumed it being a demo that it wouldn't weigh very heavy with priority.

I did search the F.A.Q. and through other forums w/ no such luck.
Kinda aggravating but not a big problem.

I only wanted to use IBFX so me and you would be in sync Lg.
Been more of a hassle then help though.....

My Alpari keeps me right there as well...within a few points @ least.

Thanks for your concern though Lg!
  • #216
  • Nov 3, 2009 2:56am Nov 3, 2009 2:56am
Lgti,

Looking at the NZUSD on a weekly chart and it looks like a short signal is forming.

Then move to the daily chart and it looks like we have missed the bus....

Did you take this short? and do you treat the daily and weekly charts as differnt trades... will you short the NZUSD when a weekly signal appears even if the daily might start to look like a buy?

thanks
  • #217
  • Nov 3, 2009 3:46am Nov 3, 2009 3:46am
Quoting Duke900
Lgti,

Looking at the NZUSD on a weekly chart and it looks like a short signal is forming.

Then move to the daily chart and it looks like we have missed the bus....

Did you take this short? and do you treat the daily and weekly charts as differnt trades... will you short the NZUSD when a weekly signal appears even if the daily might start to look like a buy?

thanks
Would not take the trade because weekly and daily are not different trades. When weekly signal appears I would wait for the daily to confirm. I don't know if this is correct but that is what I would do. I think if the weekly and the daily are in sync then it would be perfect. This pair is in an uptrend, so must be very cautious. Loked back on the daily for signals and say one that would have been a short but actually went long. Check the weekly and it was not even near a signal. Perhaps the trick is make sure you have a signal on the daily then chec the weekly to make sure it is heading in the same direction.

Still haven't taken the short on usdjpy and gbpjpy. Nervous. This is the first time I would do this live and I am very nervous about it. Low on funds. Does it usually go back up after the signals then go down again, like the pairs have done?
  • #218
  • Edited 7:32am Nov 3, 2009 4:58am | Edited 7:32am
Quoting Scratch99
Would not take the trade because weekly and daily are not different trades. When weekly signal appears I would wait for the daily to confirm. I don't know if this is correct but that is what I would do. I think if the weekly and the daily are in sync then it would be perfect. This pair is in an uptrend, so must be very cautious. Loked back on the daily for signals and say one that would have been a short but actually went long. Check the weekly and it was not even near a signal. Perhaps the trick is make sure you have a signal on the daily then...
I couldn't have said it better myself! The answer to your question is that sometimes price will retrace after a valid signal is given. Although usdjpy and gbpjpy gave valid short signals, price went north on the next candle instead. Does this mean that it wasn't a good signal? Of course not. Look at the weekly charts for both of these pairs. What do you see? Both of these pairs are in a downtrend. So that's just more confirmation and reassurance to place your trades. Remember that this is a long term trading method and that there will be a lot of movement. Don't let fear prevent you from taking a trade because you'll never trade. Trade with the smallest lot size possible until you get more confidence in yourself and the system. You will lose sometimes, but that's a part of trading. Don't worry about it, there will be more trades ahead.
  • #219
  • Edited 8:11am Nov 3, 2009 5:17am | Edited 8:11am
Quoting Duke900
Lgti,

Looking at the NZUSD on a weekly chart and it looks like a short signal is forming.

Then move to the daily chart and it looks like we have missed the bus....

Did you take this short? and do you treat the daily and weekly charts as differnt trades... will you short the NZUSD when a weekly signal appears even if the daily might start to look like a buy?

thanks
Yes I did take the initial short signal(red line on daily) for 107 pips because price was headed south towards the lower trend line of the channel on the daily chart. My target was just above the lower trend line. Although price continued to fall and broke through the channel, I'm waiting for a retracement and another valid signal to go short. You're correct about a short signal possibly forming on the weekly, but monitor the daily chart for your optimal entry. Look at these charts. I'm waiting for price to retrace and test the lower trend line(teal line) of the channel on the daily time frame. If this happens and price is rejected, then I'll be looking to go short again when the signal is given. Remember, this pair is still in a strong uptrend. Let's see what happens. Also, I don't treat the daily and weekly as different trades. I'm trading with the weekly trend as long as the daily and weekly are in agreement.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd weekly.gif Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd daily.gif Size: 33 KB
  • #220
  • Nov 3, 2009 10:22pm Nov 3, 2009 10:22pm
Hey Lg,

Are you still in that USDJPY?

Looks like it finally falling!

I'm only -66 pips now..which is a big improvment

In it to win it!
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