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Trend Trading All Pairs

  • #101
  • Nov 29, 2009 7:23pm Nov 29, 2009 7:23pm
Well I will wait for a second opportunity for this trade, it's the the wrong session for this kind of a move...
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  • #102
  • Nov 29, 2009 7:34pm Nov 29, 2009 7:34pm
Quoting NightMoves
Well I will wait for a second opportunity for this trade, it's the the wrong session for this kind of a move...
But there is still room for a trade per the ADR even though I missed it right now I might get another chance still make 50 pips or so...just have to wait and see I guess...but anyway here is where my entry should have been...TP would have been just below the 1.51 The green dashed line shows where I should have entered and would have had I not been on the phone, and was paying attention to my alert signals...
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  • #103
  • Nov 29, 2009 7:36pm Nov 29, 2009 7:36pm
Nice momentum accross the board...The eur/usd has broken above the 1 hr 100 sma, And convincingly above the 150 round #,,,Would you wait for the retrace then put a buystop 5 pips above the swing high and your stop below swing low?
  • #104
  • Nov 29, 2009 7:37pm Nov 29, 2009 7:37pm
Quoting NightMoves
Well I will wait for a second opportunity for this trade, it's the the wrong session for this kind of a move...
seems like asia is getting warmed up for RBA announcement this week.

So you think could come back down for retest..and shoot up for US session.
  • #105
  • Nov 29, 2009 7:46pm Nov 29, 2009 7:46pm
Quoting piptalk
Nice momentum accross the board...The eur/usd has broken above the 1 hr 100 sma, And convincingly above the 150 round #,,,Would you wait for the retrace then put a buystop 5 pips above the swing high and your stop below swing low?
Well based on the current days range right now this pair has already moves 107 pips and the ADR is telling me 147 pips per day so it does not have a lot left to give going long unless it comes back and retraces and then breaks to the upside I may have to pass on this whole entire setup becaue I just plain was not watching it, but SL right now would have been placed at BE and after moving 100 Pips already I would have closed down half the trade, and then let the scond half go and see if it would have hit the ADR or about 20% below the ADR.

I would have just placed a market order to get in and then set the SL just below the 1.50 about 10 to 15 pips or so until I knew the coast was clear then I would have moved my SL closer to the 1.50 and finally to the BE.
  • #106
  • Nov 29, 2009 7:50pm Nov 29, 2009 7:50pm
good thread. i'm gonna be visiting here often.
  • #107
  • Nov 29, 2009 7:52pm Nov 29, 2009 7:52pm
Quoting jesterx
seems like asia is getting warmed up for RBA announcement this week.

So you think could come back down for retest..and shoot up for US session.
Sure it can easily come back down, that is one thing about this market is it really cannot be predicted and trying too will just empty anyones account. So now I will just see what it does, I kind of expect some sideways motion around the 1.505 and then if it hits the ADR before the London session opens they may bring it back down or send it higher, but the round numbers especially the 1.5050 area is the area I am watching then I will look for the 1-2-3 reversal and maybe get another shot for a few pips.
  • #108
  • Nov 29, 2009 7:54pm Nov 29, 2009 7:54pm
Quoting NightMoves
Sure it can easily come back down, that is one thing about this market is it really cannot be predicted and trying too will just empty anyones account. So now I will just see what it does, I kind of expect some sideways motion around the 1.505 and then if it hits the ADR before the London session opens they may bring it back down or send it higher, but the round numbers especially the 1.5050 area is the area I am watching then I will look for the 1-2-3 reversal and maybe get another shot for a few pips.
thanks again. THis thread rocks, please come back here often and post as much as you can.

You have been a great help. I took this trade and am already up $400. Viola. Thanks again. I think I owe you a beer.
  • #109
  • Nov 29, 2009 7:56pm Nov 29, 2009 7:56pm
I do not usually do not trade this session because it is so sporadic and ususally very slow but that was a good move that would have netted some pips for sure, and I would have half the lot closed and no more money at risk with the SL at BE.
  • #110
  • Nov 29, 2009 7:57pm Nov 29, 2009 7:57pm
Quoting jesterx
thanks again. THis thread rocks, please come back here often and post as much as you can.

You have been a great help. I took this trade and am already up $400. Viola. Thanks again. I think I owe you a beer.
LOL congratulations, you can by me a beer thats sounds good
  • #111
  • Nov 29, 2009 7:57pm Nov 29, 2009 7:57pm
I am going to have to become more familar with the ADR,,,Thanks for the feedback!,,,,,If there is a fib retracement back to the 150.20 -150.33,SL around 149.75,,Might be a good buy limit for a TP move to 151.30,,,,,,
  • #112
  • Nov 29, 2009 8:07pm Nov 29, 2009 8:07pm
Quoting ABoulfoul
good thread. i'm gonna be visiting here often.
HI ABoulFoul,
Stop by anytime we are here trying to make money...LOL
  • #113
  • Nov 29, 2009 8:11pm Nov 29, 2009 8:11pm
Quoting piptalk
I am going to have to become more familar with the ADR,,,Thanks for the feedback!,,,,,If there is a fib retracement back to the 150.20 -150.33,SL around 149.75,,Might be a good buy limit for a TP move to 151.30,,,,,,
Well let me look at that price and one thing to remember even during a retracement is make sure there is a conluence of S/R in the area where you are expecting a turn around, a fib number may not be enough...always have a conluence of S/R in the area otherwise there really no reason for it to start again but if it turns around on Fibo number and that number is near around number and another area of S/R then yes it is possible to hammer more pips out of it...otherwise wait for it to set up again..
  • #114
  • Nov 29, 2009 8:15pm Nov 29, 2009 8:15pm
Quoting piptalk
I am going to have to become more familar with the ADR,,,Thanks for the feedback!,,,,,If there is a fib retracement back to the 150.20 -150.33,SL around 149.75,,Might be a good buy limit for a TP move to 151.30,,,,,,
If it soes come back to the 1.5020 area there is some support there, I think I may pass now until we get above the 1.5050 area, I think if this trend gets going again we could see 1.5300 or so before we run into any real resistance...
  • #115
  • Nov 29, 2009 8:17pm Nov 29, 2009 8:17pm
I am looking for an entry if it breaks 1.5065 with a TP at 20% lower than the ADR or so.
  • #116
  • Nov 29, 2009 8:19pm Nov 29, 2009 8:19pm
Thanks Nightmoves,,,Patience is what I need to work on!,,,
  • #117
  • Nov 29, 2009 8:23pm Nov 29, 2009 8:23pm
Quoting piptalk
Thanks Nightmoves,,,Patience is what I need to work on!,,,
Your welcome, and yes patience is key do not chase the market let it come to you....
  • #118
  • Nov 29, 2009 8:26pm Nov 29, 2009 8:26pm
Oh well I will need to pass on this setup for now the RR ratio is all whacked out but there will be another opportunity I am sure.
  • #119
  • Nov 29, 2009 8:40pm Nov 29, 2009 8:40pm
EUR wants to breakout here.

Hmmmm.
  • #120
  • Nov 29, 2009 8:42pm Nov 29, 2009 8:42pm
It is back above the 1.5050 and the pullback looks good, now lets see if the continuation develops...Just not enough pips left in this direction for the day for me to get into it, I would be entering just above where the pullback started and that is getting really close to the average daily range this pair moves, so I am not sure how much it has left to give if it hits the 1.5100 price.
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