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Trend Trading All Pairs

  • #241
  • Dec 2, 2009 12:14pm Dec 2, 2009 12:14pm
I thought Iwould post a chart of the USDJPY Monthly, we are getting very close to a low that has held as far back 1995. Even though I was hoping for a few more opportunities on this pair, it is looking like that this low is going to hold once again, that is a long time low in place and this pair may be headed for a rally to the upside. We may have taken as many short positions as we are going to get for awhile.
--NM
Attached Image (click to enlarge)
Click to Enlarge Name: monthly bottom.gif Size: 23 KB
  • #242
  • Dec 2, 2009 12:30pm Dec 2, 2009 12:30pm
Quoting NightMoves
I thought Iwould post a chart of the USDJPY Monthly, we are getting very close to a low that has held as far back 1995. Even though I was hoping for a few more opportunities on this pair, it is looking like that this low is going to hold once again, that is a long time low in place and this pair may be headed for a rally to the upside. We may have taken as many short positions as we are going to get for awhile.
--NM
NM your posts are very helpful

Keep them going... nice work
  • #243
  • Dec 2, 2009 2:20pm Dec 2, 2009 2:20pm
Quoting NightMoves
I thought Iwould post a chart of the USDJPY Monthly, we are getting very close to a low that has held as far back 1995. Even though I was hoping for a few more opportunities on this pair, it is looking like that this low is going to hold once again, that is a long time low in place and this pair may be headed for a rally to the upside. We may have taken as many short positions as we are going to get for awhile.
--NM
I was wondering if a good place to get in would be on the 1 hr. chart once it breaks the 200 EMA or would you wait for it to go up then back down to the 200 EMA then when it goes back up to where it came down yu would get in?

Trying to understand.........
  • #244
  • Dec 2, 2009 3:55pm Dec 2, 2009 3:55pm
Hey there Night Moves,

Take a look at Cad/Jpy on the H1 chart....

I saw this trade and went long for it...

the sma lines are in order, the bounce is in the dynamic area and there are confluences of S/R in that area too.....only thing is the spread is at 5 pips...hehehe

fingers crossed mate!
  • #245
  • Dec 2, 2009 4:23pm Dec 2, 2009 4:23pm
Quoting Scratch99
I was wondering if a good place to get in would be on the 1 hr. chart once it breaks the 200 EMA or would you wait for it to go up then back down to the 200 EMA then when it goes back up to where it came down yu would get in?

Trying to understand.........
Hi Scratch99,
You know I have to actually say, I do not trade with the 200 MA. I use only the 30, 50. and 100 and wait for a trend to develop based entirely on the direction and order of those MA lines.

If you look at some of the earlier posts in this thread you can see what the criteria for a tradable trend would be using this system. I have some charts posted so you can see what I consider tradable and I posted a chart showing what I consider not tradable. Basically all the MA lines need to be in order, and pointing in the same direction.

Then I wait for the price to get to those moving averages and look for a reversal pattern in that area as long as there is a number of elements of S/R and the area I expect the reversal to occur.

Here is a chart showing what I consider a tradable trend using this method, notice how the price is swiging back to the area of the MA, at those locations is where I look for the elements of S/R to come together that will reinforce the next impulse wave....make sense?

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdtrend.gif Size: 17 KB
  • #246
  • Dec 2, 2009 4:27pm Dec 2, 2009 4:27pm
Quoting gp75
Hey there Night Moves,

Take a look at Cad/Jpy on the H1 chart....

I saw this trade and went long for it...

the sma lines are in order, the bounce is in the dynamic area and there are confluences of S/R in that area too.....only thing is the spread is at 5 pips...hehehe

fingers crossed mate!
Hi GP,
I looked at the chart, and you should be able to get some pips from that trade, always remember though to look at the longer time frames and make sure you do not have any conflicting S/R lines in the way of the trade. But other wise I think that was a nice catch!

Good Job, keep me posted how you did.

--NM
  • #247
  • Dec 2, 2009 4:37pm Dec 2, 2009 4:37pm
My entry on that position would have been right where the green horizontal line is placed. But remember too that this session is low volume so may have to grab what pips you can because it may come back on you pretty fast.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyentry.gif Size: 26 KB
  • #248
  • Dec 2, 2009 4:45pm Dec 2, 2009 4:45pm
Quoting NightMoves
My entry on that position would have been right where the green horizontal line is placed. But remember too that this session is low volume so may have to grab what pips you can because it may come back on you pretty fast.

--NM

good chart, thanks NM.

here is another one. Steady with the EUR....its rally phase might be a bit jilted over the next few days.

If I was long the EUR, i would tread carefully....JMHO.

Check out the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.PNG Size: 159 KB
  • #249
  • Edited 5:10pm Dec 2, 2009 4:54pm | Edited 5:10pm
GP,
I had the line in the wrong spot there, My entry would have been just above the RED candle above the trendline. But anyway good trade! But either spot would have worked I like to get in right after the pattern break so I would have gotten in right after the trendline break.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpt entry.gif Size: 26 KB
  • #250
  • Edited 5:06pm Dec 2, 2009 4:57pm | Edited 5:06pm
Nightmoves
Thanks for the lesson on loading charts - lets see if this works...
Tried to post it earlier - but struggled a bit. The audcad bounced off resistance turned support nicely - at the red dotted line.
Attached Image (click to enlarge)
Click to Enlarge Name: ozziecad.gif Size: 15 KB
  • #251
  • Dec 2, 2009 4:59pm Dec 2, 2009 4:59pm
GP,
A very nice reversal 1-2-3 pattern right off the RN and very near the 61 FIb and in the area you like too look for a reversal, very nice!!

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpt reversal.gif Size: 27 KB
  • #252
  • Dec 2, 2009 5:08pm Dec 2, 2009 5:08pm
Quoting jesterx
good chart, thanks NM.

here is another one. Steady with the EUR....its rally phase might be a bit jilted over the next few days.

If I was long the EUR, i would tread carefully....JMHO.

Check out the chart below.
I think you may be right, I am thinking along the same lines, as I see the ADR has not been reached for a couple of days now, and that can be a strong indicator that things could be changing as well. Once the trend start diving into the 50 and then shoots through it and then start playing with the hundred, things can get ugly in a hurry.
  • #253
  • Dec 2, 2009 5:20pm Dec 2, 2009 5:20pm
Quoting NightMoves
I think you may be right, I am thinking along the same lines, as I see the ADR has not been reached for a couple of days now, and that can be a strong indicator that things could be changing as well. Once the trend start diving into the 50 and then shoots through it and then start playing with the hundred, things can get ugly in a hurry.

thanks for looking at the chart, just wanted to run it by you.

I appreciate your opinion on this matter.

Seems like we could get a nice set up before the week is out. Time will tell.
  • #254
  • Edited 5:33pm Dec 2, 2009 5:26pm | Edited 5:33pm
Quoting Yebisu
Nightmoves
Thanks for the lesson on loading charts - lets see if this works...
Tried to post it earlier - but struggled a bit. The audcad bounced off resistance turned support nicely - at the red dotted line.
Yebisu,
Yes it turned into support quickly, however what concerns me little on this pair in the near term is what looks like it could be a double top formation on the weekly chart, so take caution with any long entries on this pair.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: possibledtop.gif Size: 23 KB
  • #255
  • Dec 2, 2009 5:58pm Dec 2, 2009 5:58pm
hey Night Moves!

i forgot to attach the chart for my cad/jpy....still trying to get used to this forum's setting...

here it is ....my entry price is at 83.466

it is doing good so far....will keep u guys posted on this one...

this is great as i believe trading is like going to battle and we help each other keep a look out!

Gp
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy h1.gif Size: 12 KB
  • #256
  • Dec 2, 2009 6:06pm Dec 2, 2009 6:06pm
Quoting gp75
hey Night Moves!

i forgot to attach the chart for my cad/jpy....still trying to get used to this forum's setting...

here it is ....my entry price is at 83.466

it is doing good so far....will keep u guys posted on this one...

this is great as i believe trading is like going to battle and we help each other keep a look out!

Gp
It looks good so far, as clean as the 1-2-3 reversal pattern is I might have taken that right at the break of the trend line, but I do know this session can be tricky, and unless something happens I try to stay on those currency pairs like the YEN and AUD crosses they seem to move the best during this session imo. But keep up the good work, that is a nice trade.

--NM
  • #257
  • Dec 2, 2009 6:16pm Dec 2, 2009 6:16pm
I think GBPUSD good TP is 1.6804 as ATR is showing major S/R at 1.6816 area. We may also see some 1-2-3 pattern at 1.6710.

Any confirm Nightmoves?
  • #258
  • Dec 2, 2009 6:25pm Dec 2, 2009 6:25pm
Quoting kingrex
I think GBPUSD good TP is 1.6804 as ATR is showing major S/R at 1.6816 area. We may also see some 1-2-3 pattern at 1.6710.

Any confirm Nightmoves?
I agree that that would be the area to aim for but becareful it tried to reach that level 2 times recently and failed, just keep a good eye on the trade as it looks like every 50 pips you are going to have to plow through some resistance.

--NM
  • #259
  • Dec 2, 2009 6:49pm Dec 2, 2009 6:49pm
Hector's Trading Methodology is quite good.

Basics is pretty much is there a trend y/n
Find entry and exits
That's it, no need for fancy indicators, support resistance and patterns are pretty much it.

Higher high = bullish
Lower low = bearish

  • #260
  • Dec 2, 2009 7:12pm Dec 2, 2009 7:12pm
Quoting Musashi
Hector's Trading Methodology is quite good.

Basics is pretty much is there a trend y/n
Find entry and exits
That's it, no need for fancy indicators, support resistance and patterns are pretty much it.

Higher high = bullish
Lower low = bearish

Yes it is, I have to say it about as good as it gets, like I say I have been using it for along tme now and have done very well with it. I have seen a lot of methods but this is simple and gets the job done. about 80% of the trades are winning trades while taking very little heat. Even if a trade does not make it and of course some will not, the losses are very small. And ususally the losses are because one did not follow the rules and jumped in to soon or just not paying attention to the longer term S/R levels.

But yep it is one of the best systems out there, before I learned his system, I did reviews on a lot of other systems, and this is the only system I found absolutely no bad reviews on. So I took his course and all has been good since. The whole system just makes sense.

I actually took his course several years ago and have been trading this way ever since.


--NM
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