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Trend Trading All Pairs

  • #21
  • Nov 27, 2009 2:03pm Nov 27, 2009 2:03pm
I am also watching the E/U pair this is the 4 hour chart, which will be my trigger chart based off of the daily chart, you can see the retracement line I have drawin up, the bounce was where I was looking for it, so now I am waiting confirmation that the uptrend is going to continue and then plan my entry.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd possible trade near.gif Size: 33 KB
  • #22
  • Nov 27, 2009 2:16pm Nov 27, 2009 2:16pm
I would not be so sure about EU going up, if you check the D1 chart then U will see that when a price went through 1.5000 level it came back really fast back below 1.5000 level, it looks like it was a fake breakout
EU is oversold on W1 and on D1 there is a divergence that that points on reversal, I think that a D1 support line will get broken

and take a look how strong is the move down, it is much stronger than the move upwards.. it means that most of the market participants are with bearish sentiment
  • #23
  • Nov 27, 2009 2:19pm Nov 27, 2009 2:19pm
what is your average SL TP ratio? how many wins and how many SL's
  • #24
  • Nov 27, 2009 2:22pm Nov 27, 2009 2:22pm
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.
Attached File(s)
File Type: ex4 Grid.ex4   5 KB | 2,328 downloads
  • #25
  • Nov 27, 2009 2:29pm Nov 27, 2009 2:29pm
Quoting akurs
I would not be so sure about EU going up, if you check the D1 chart then U will see that when a price went through 1.5000 level it came back really fast back below 1.5000 level, it looks like it was a fake breakout
EU is oversold on W1 and on D1 there is a divergence that that points on reversal, I think that a D1 support line will get broken

and take a look how strong is the move down, it is much stronger than the move upwards.. it means that most of the market participants are with bearish sentiment
Well you might be correct that is why I do not guess what the market is going to do I react to what it is doing in the driection of main trend. And that is another reason I wait for confirmation that it is going to go in the direction of the main trend, if the setup does not make it then I am not in the trade. I could try and guess the market forever but it is best to wait for the setup and confirmation, like I stated earlier this system has kept me out of some trades that I thought for sure would go but did not.

So I do not try and guess that is why I wait for it to come into certain areas of price and that area is the decision taking area any where else on the chart for me means nothing. If any of these pairs I am watching get to that area and I do trigger a trade I will show where I triggered it and why I triggered it.
  • #26
  • Nov 27, 2009 2:29pm Nov 27, 2009 2:29pm
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.
thanks for the indicator
how to set a period of vertical lines? I get full chart of them...
got it, never mind
  • #27
  • Nov 27, 2009 2:32pm Nov 27, 2009 2:32pm
Quoting akurs
what is your average SL TP ratio? how many wins and how many SL's
My SL and TP I try to maintain at least 3 to 1, that is why looking at the long term charts has a lot of bearing on my entries. I set 2 targets, when the first target gets hit, I close half the position and move my stop to BE and then from there I intratade manage the rest of the trade.
  • #28
  • Nov 27, 2009 2:35pm Nov 27, 2009 2:35pm
Quoting NightMoves
My SL and TP I try to maintain at least 3 to 1, that is why looking at the long term charts has a lot of bearing on my entries. I set 2 targets, when the first target gets hit, I close half the position and move my stop to BE and then from there I intratade manage the rest of the trade.
it means that your broker allows you to close a part of a trade? or you open 2 trades and close one at first TP?
  • #29
  • Nov 27, 2009 2:37pm Nov 27, 2009 2:37pm
Quoting akurs
thanks for the indicator
how to set a period of vertical lines? I get full chart of them...
Here are the settings:

Hgridweeks = 10
Hgridpips = 50
Hline = Dim Grey
HLine2 = none
Grid time = 50
Time Grid = 0
Color Hour = 1
Time Line = none
Time line 2 = non
  • #30
  • Nov 27, 2009 2:39pm Nov 27, 2009 2:39pm
Quoting akurs
it means that your broker allows you to close a part of a trade? or you open 2 trades and close one at first TP?
I can close part of a trade, if I go in with say 4 lots I can close 2 of them and keep the other 2 in the trade.
  • #31
  • Nov 27, 2009 2:49pm Nov 27, 2009 2:49pm
thanks NightMoves

well, time to get some sleep
have a good weekend

I'll be back on monday
  • #32
  • Nov 27, 2009 2:52pm Nov 27, 2009 2:52pm
Quoting akurs
thanks NightMoves

well, time to get some sleep
have a good weekend

I'll be back on monday
Have a good weekend!!!
  • #33
  • Nov 27, 2009 2:56pm Nov 27, 2009 2:56pm
I do not use this indicator much but this will show each trading session whether it is the US or the London, asian...etc each session is color coded and all of them are on here that I know of...I did not make this indicator and I really do not use it too much but it does show which session you are in and also shows the sessions that overlap
Attached File(s)
File Type: ex4 Time Zones.ex4   8 KB | 1,578 downloads
  • #34
  • Nov 27, 2009 3:05pm Nov 27, 2009 3:05pm
Ok here is a recap of the entry position:

1) Spot a vali d trend as per the rules.
2) Find the level of strongest Confluence support/resistance where a new swing may spring from.
3) Wait for a retrace to that level.
4) Zoom into shorter time frames.
5) Read what price does at that decision-taking level : Does it breach through? Does it enter a period of consolidatio n? Does it bounce off it?
6) Recognize any possible reversal formation.
7) Wait for price to confirm that reversal formation/breakout, don't anticipate the move.
8) Has the ret racement trendline being broken yet? It's always a big plus!
9) Elaborate your Trade Plan : stoploss, targets, possible news announcements, reasonable time scope for the trade, etc.
10) As the reversal formation is confirmed, enter the market.


  • #35
  • Nov 27, 2009 3:35pm Nov 27, 2009 3:35pm
One of the most important things in this system for trading intraday trades is the ADR or "Average Daily Range" Why is it important? Lets say we are looking at the EURUSD and all the technicals are giving you a clear entry signal, and you enter the trade, but you did not realise the pair has already given up 150 pips and as of this post the pair has an ADR of 145, and you soon find it retracing on you well the reason it is retracing on you is because it has pretty much given up all it has to offer for the day, and now it starts to retrace or go sideways on you, there are times when it will move more than the ADR and times when it will move less than the ADR. So it is very important to know what the ADR is before you enter the trade and find yourself in a situation you do not want to be in, the longer time frame trades do not really have to worry about this too much but anyone just trading the day really needs to pay attention to it.

You can also set your day targets using this ADR as well, I am a pretty conservative trader and usually set my targets 20% less than the ADR just in case it does not make it. However you do not have too it is up to you.

There are quite a few ADR indicators floating around out there so I would download one of them and use it.

Here is an example of how to use it:

Let's say I am taking a long entry based on a swing entry occurring in the EURUSD hourly chart as my setup chart. Let's say that the swing's potential target is 1.50, but the ADR falls in at about 1.4885 or so. I better play it safe, cut down my target expectations and exit the position at 1.4885.
  • #36
  • Nov 27, 2009 3:47pm Nov 27, 2009 3:47pm
So remember using this trend system the ultimate strategy is RN(round numbers) and ADR. It seems the price gravitates towards those round numbers and then goes sidways for while and breaks over the top or bounces off of them. Some people really like trading pivot points and have good luck doing so, I like the invisible barrier of the Round numbers and I have traded pivot points and round numbers and round numbers in my opinion are more reliable and so I use them and have my charts setup to grid only those Round numbers.

More to come!!
  • #37
  • Nov 27, 2009 4:09pm Nov 27, 2009 4:09pm
Remember if you have charts post them, and we can go over everything that this system has to offer. The more you use it the better you get at it, I really like this system it is an extremely solid system that does not require lookiing at and watching indicators like MACD RSI, CCI...etc however they could be incorporated if you feel the need to use them, I do not use them becaue I do not want to rely on them because they lag, actual price action does not lag, this is a reactive method of trading not predictive method of trading, no predictions just reactions based on price action in the direction of the main trend.
  • #38
  • Nov 27, 2009 4:29pm Nov 27, 2009 4:29pm
Here is another chart showing the 1,2,3 reversal pattern and the entry point during an uptrend after the retracement...
Attached Image (click to enlarge)
Click to Enlarge Name: entry.gif Size: 22 KB
  • #39
  • Nov 27, 2009 5:17pm Nov 27, 2009 5:17pm
Here is another 1,2,3 formation notice the round number trend line and the MA line all in the same area..... Breakout, pullback and continuation...
Attached Image (click to enlarge)
Click to Enlarge Name: bpc.gif Size: 21 KB
  • #40
  • Nov 27, 2009 5:46pm Nov 27, 2009 5:46pm
So what happens if all looks good on the setup chart and everything is saying we have an opportunity and we draw our lines and then switch to the trigger chart and the pair stalls out? Well what we do then is really draw the lines showing S/R on the trigger chart, and then wait for the breakout in the direction of the trend, I like to use the same methodology and wait for the breakout, pullback and continuation, when the market is sideways that seems to be the easiest to trade when it breaks out, triangles are handled the same way. If it breaks out in the opposite direction of the trend then you do nothing...always wait for a breakout in the direction of the trend, wait for the BPC (breakout pullback and continuation) and then enter the trade, sometimes it will breakout with such momentum you miss the trade, but it comes back, some people trade the breakouts with a lot of success but I like to wait for the BPC to happen before I enter.

Sometimes it will get into a range during a trend and you handle this the same way, as soon as it breaks out of the range wait for the BPC and enter the trade (Unless you like to range trade of course). All the basic patterns still hold true for this system as other systems like the Head N Shoulders, double tops and bottoms...etc Just be sure to set the stop loss behind the event that got you in the trade.
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