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Trend Trading All Pairs

  • #161
  • Edited 1:16pm Nov 30, 2009 12:35pm | Edited 1:16pm
Hi Guys,
Lunch time here so I thought I would check and see how the setups were doing, on the E/J looks like we are getting a nice pullback now. So this setup is still vaild for a potential short in the direction of the main trend. This is the 1hr TF which will be my trigger chart on this pair the setup is actually on the 4hr TF.

NM
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy update.gif Size: 27 KB
  • #162
  • Nov 30, 2009 12:49pm Nov 30, 2009 12:49pm
I will mention too that the pink clored line on my E/J is the bottom channel line of the daily chart it has been in a range for awhile but it is now looking to break that in the direction of the main trend. The main trend is actually down on the weekly chart and has done a retracement, however the retracement has since gone sideways so I am hopeful we get another impulse to the down side.

NM
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy update2.gif Size: 32 KB
  • #163
  • Nov 30, 2009 12:53pm Nov 30, 2009 12:53pm
Hi Nightmoves.

Is there any update on your E/U setup?
  • #164
  • Nov 30, 2009 1:02pm Nov 30, 2009 1:02pm
Quoting kingrex
Hi Nightmoves.

Is there any update on your E/U setup?
No big news on that setup as of right now, it has pulled back below the 1.50 level and is now trying to climb above it again. It may not even reach the ADR for the day it is about 27 pips shy of that, but with the London session closed now it may not move to far away from the 1.50 area the rest of the day. The move lastnight during the asian session was the high for the day. And it has since retraced back to the break out point.
  • #165
  • Nov 30, 2009 1:05pm Nov 30, 2009 1:05pm
Quoting kingrex
Hi Nightmoves.

Is there any update on your E/U setup?
So I am still hopeful we get to the 1.530 level or so but until we get confirmation that this is going to continue I will just sit back and wait it out.
  • #166
  • Nov 30, 2009 1:21pm Nov 30, 2009 1:21pm
This about where I would be looking to take a short position if this E/J setup stays valid..

NM
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy update3.gif Size: 25 KB
  • #167
  • Nov 30, 2009 1:39pm Nov 30, 2009 1:39pm
Here is the E/J setup again, this time I added the Fibo lines, it is in the area I like to see the reversal patterns form, near the RN and between the 38.2 and the 61.8 on the 4 hr chart is not too far from the dynamic S/R lines and all the MA lines are pointed in the right direction and in order so for now the setup is still vaild. We will just let it play out and see if we can catch another impulse wave to the downside.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy update with fibs.gif Size: 27 KB
  • #168
  • Nov 30, 2009 5:28pm Nov 30, 2009 5:28pm
Being the impatient guy that I am i...I went short on the eur/jpy @129.78,,,bounced back to the the 15 min 100 sma ,,,Nightmoves,,,I have implimenting your 1 2 3 setup with excellent results on the 15 min chart,,,Basically letting the pair break the 100 sma waiting for a retrace,,,Then entering on the breakout of the swinghigh or low,,,thanks again,,,,Looking forward to more of you insight...
  • #169
  • Nov 30, 2009 6:00pm Nov 30, 2009 6:00pm
Quoting piptalk
Being the impatient guy that I am i...I went short on the eur/jpy @129.78,,,bounced back to the the 15 min 100 sma ,,,Nightmoves,,,I have implimenting your 1 2 3 setup with excellent results on the 15 min chart,,,Basically letting the pair break the 100 sma waiting for a retrace,,,Then entering on the breakout of the swinghigh or low,,,thanks again,,,,Looking forward to more of you insight...
HI Piptalk,
Well I am glad you are having some success with it. I have never tried that method before, just be careful using smaller time frames for your setups because your targets must be smaller. I have used it in the 15 minute TF with good results. But I prefer to have my setup chart on a TF no smaller than 30 minutes preferably the 1hr or the 4hr TF.

Remember I am a very conservative trader and the longer time frames have more weight than the smaller ones. I follow my rules to the number when trading as I am only looking only for the low risk high probabilty trades and I will wait for those setups to complete before I pull the trigger. I am not one to take unnecessary risks to try make a few pips. To me this market is not an easy market to trade, but the more strength and ammo you have in your arsenol the better, and nothing better than to have the market on your side by trading in the direction of the main trend.

There are some out there that will trade going all directions and at any time, how successfull they are on a continuous basis is up for debate. But if you have something that works then by all means keep using what works.

--NM
  • #170
  • Nov 30, 2009 6:16pm Nov 30, 2009 6:16pm
I have actually been playing with the idea of making some new trading videos showing the live trades. I have some that I did last year but I am thinking about making some new ones. I dont know if anyone would be interested in that or not. I would be trading this system showing the setups and the entries and exits...etc.

I could probablly put them on youtube and perhaps inbed in this thread I have seen other videos on FF. If there is enough interest in it I will make some live trading videos and setup videos and such.


--NM
  • #171
  • Nov 30, 2009 6:23pm Nov 30, 2009 6:23pm
NM,,,,,Thanks for your perspective,,,,And advice,,,I will settle back to the higher TF,,


PT
  • #172
  • Nov 30, 2009 6:25pm Nov 30, 2009 6:25pm
Videos would be awesome!
  • #173
  • Nov 30, 2009 6:34pm Nov 30, 2009 6:34pm
Quoting NightMoves
I have actually been playing with the idea of making some new trading videos showing the live trades. I have some that I did last year but I am thinking about making some new ones. I dont know if anyone would be interested in that or not. I would be trading this system showing the setups and the entries and exits...etc.

I could probablly put them on youtube and perhaps inbed in this thread I have seen other videos on FF. If there is enough interest in it I will make some live trading videos and setup videos and such.


--NM
NM wow....a YT video would be fantastic. You explained your theory very well but to see it live in action would be awesome.

Please let us know when you post this.
  • #174
  • Nov 30, 2009 6:38pm Nov 30, 2009 6:38pm
I would also like to hear more about your MM rules,,,,thx
  • #175
  • Nov 30, 2009 6:55pm Nov 30, 2009 6:55pm
Quoting piptalk
I would also like to hear more about your MM rules,,,,thx
Piptalk,
I am working on a document that explains the MM rules and some other rules that go along with this that I have not covered on this thread. Like intratrade management, when to stay out of the market,...etc there are some others as well. And I will be placing screens shots in the document showing examples of some of the topics covered so you can see what I am talking about including a few special techniques. Everything I am putting in the document I have used myself and it is all based on this trading method with screen shot examples. Money management, how to take a winning trade and not turn it into a losing trade. It is taking a little time to get all together but it is getting there.

I also have a checklist that one can go over before placing the trade that has all pre-entry conditions, Entry, SL, Targets...etc. Like I have said before I do not trade for a living but I do know this works and works really well, and I guess that is why I am putting some time into it, after 4 years or so of using this trading style.
  • #176
  • Nov 30, 2009 7:28pm Nov 30, 2009 7:28pm
Very much looking forward to it,,,,Your efforts are appreciated!!
  • #177
  • Nov 30, 2009 7:56pm Nov 30, 2009 7:56pm
I am also very interested in your videos. You should make daily videos to spread your insight -- I would put your youtube on my favorites and watch them daily as I believe your method is a winner.
  • #178
  • Nov 30, 2009 8:37pm Nov 30, 2009 8:37pm
I see the GBPJPY is getting back into those all important areas of dynamic S/R again, this set up is looking better for a bigger run to the downside, I feel better knowing it is getting back to where I was hoping it would go.

It is in the FIb window and nearing a previous breakout area that is not a strong resistance but resistance non the less, and it may plow through that. It has moved 143 pips already so lots of room to the down side.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_settingup.gif Size: 29 KB
  • #179
  • Nov 30, 2009 8:43pm Nov 30, 2009 8:43pm
I think your looking at the eur/jpy
  • #180
  • Nov 30, 2009 8:46pm Nov 30, 2009 8:46pm
Quoting piptalk
I think your looking at the eur/jpy
Yep that is what I get for watching all the yen crosses
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