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Trend Trading All Pairs

  • #341
  • Dec 3, 2009 8:19pm Dec 3, 2009 8:19pm
Quoting Musashi
Taking some heat on the pound trade.

Still got potential to make the target. Although has me concerned since GBPJPY is not breaking down. EURJPY shaping up nicely.
It does not look to bad yet, you have some good resistance on your side, it could still head in your direction. I was just kind of worried because it made quite a drop so fast.

--NM
  • #342
  • Dec 3, 2009 8:22pm Dec 3, 2009 8:22pm
Quoting Scratch99

Where do I find these renko bars.

Thanks again guys.
Here, mate:
http://www.forexfactory.com/sitesear...htype=site&=Go
  • #343
  • Dec 3, 2009 8:25pm Dec 3, 2009 8:25pm
So far my setup is still holding on the CHFJPY kind of looks like an inverted HnS developing,which hopefully is a good sign.

--NM
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  • #344
  • Dec 3, 2009 9:03pm Dec 3, 2009 9:03pm
hey there NM,

saw that you guys had a busy night judging from the posts in this thread.

anyway, for the cad/jpy that i took...i only managed to squeeze 23 pips out of it coz the rsi was moving down. however, the trade became valid again later on and i took another entry and managed to make another 20 pips before i got spike out.

as for today, i have entered long on aus/cad and nzd/jpy.

i was also looking at the gbp/jpy but i took the nzd/jpy trade as it rebounces of the dynamic area first....

so i guess i won't be taking the gbp/jpy trade as i do not want to have two correlated pairs...

hope this one makes us some good pips...

cheers...
Gp
  • #345
  • Dec 3, 2009 9:16pm Dec 3, 2009 9:16pm
Quoting gp75
hey there NM,

saw that you guys had a busy night judging from the posts in this thread.

anyway, for the cad/jpy that i took...i only managed to squeeze 23 pips out of it coz the rsi was moving down. however, the trade became valid again later on and i took another entry and managed to make another 20 pips before i got spike out.

as for today, i have entered long on aus/cad and nzd/jpy.

i was also looking at the gbp/jpy but i took the nzd/jpy trade as it rebounces of the dynamic area first....

so i guess i won't be taking the...
Hi Gp,
well glad to see you got yourself some pips. The correlated pairs rule is another good rule. I have the same rule.

I just took a look at the NZDJPY, and it is certainly set up like most of the yen crosses right now, I am looking at the CHFJPY corss and have yet to trigger a trade, just cannot get it over that retracement TL, so still waiting.

--NM
  • #346
  • Dec 3, 2009 9:36pm Dec 3, 2009 9:36pm
hi NM,

you are still awake...guess the price action is keeping you away from the comfort of your bed eh......

you said that you are waiting 4 the price to break tru the retracement line...after that, do you still intend to wait for a pullback and enter only when the price broke tru from the pullback line?

may i know which time frame are you using to draw your retracement line? it would be nice if yyou could post the chart of chf/jpy tat you are focusing on now which also shows the retracement TL tat you mentioned.

Thanks mate!
Gp
  • #347
  • Dec 3, 2009 9:36pm Dec 3, 2009 9:36pm
One thing for sure is the YEN is showing some weakness across the board, I just wish it would get going I think I am going to set my alarm and just wait and see what happens, maybe it will not do anything until the London session opens.

--NM
  • #348
  • Dec 3, 2009 9:42pm Dec 3, 2009 9:42pm
Appears there's a bunch of orders in this box range here.

Most likely going to go sideways now until Frankfurt Open.

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  • #349
  • Dec 3, 2009 9:42pm Dec 3, 2009 9:42pm
Quoting gp75
hi NM,

you are still awake...guess the price action is keeping you away from the comfort of your bed eh......

you said that you are waiting 4 the price to break tru the retracement line...after that, do you still intend to wait for a pullback and enter only when the price broke tru from the pullback line?

may i know which time frame are you using to draw your retracement line? it would be nice if yyou could post the chart of chf/jpy tat you are focusing on now which also shows the retracement TL tat you mentioned.

Thanks mate!
Gp
Hi Gp,
Yep still awake it is only 9:30pm here, and waiting patiently for a break out of this CHFJPY, I will more than likely wait for a pullback if the inverted HnS falls aprt, this is the 15 minute chart which is what I am going to use to trigger the trade if it gets that far.

--NM
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  • #350
  • Dec 3, 2009 9:49pm Dec 3, 2009 9:49pm
Hey NM,

Thanks mate. Trigger using 15 mins chart. Got it.

All the Best....am going for lunch now coz it is 12 noon at my place!

Gp
  • #351
  • Dec 3, 2009 9:54pm Dec 3, 2009 9:54pm
Quoting gp75
Hey NM,

Thanks mate. Trigger using 15 mins chart. Got it.

All the Best....am going for lunch now coz it is 12 noon at my place!

Gp
You have a good lunch!!

--NM
  • #352
  • Dec 3, 2009 10:25pm Dec 3, 2009 10:25pm
Looks like it may trying to head for the next support level which would put it at the 87.50 if it heads that way. That would pretty much end this particluar setup.
  • #353
  • Dec 3, 2009 10:52pm Dec 3, 2009 10:52pm
have a look at the my USD chart.

Its interesting....with inverted head and shoulders which normally breaks and pushes higher. Looks like we are going to have another negative day on the US markets tomorrow.
Attached Image
  • #354
  • Dec 3, 2009 11:06pm Dec 3, 2009 11:06pm
Quoting jesterx
have a look at the my USD chart.

Its interesting....with inverted head and shoulders which normally breaks and pushes higher. Looks like we are going to have another negative day on the US markets tomorrow.
I think it is because of the news tomorrow.

--NM
  • #355
  • Dec 3, 2009 11:16pm Dec 3, 2009 11:16pm
Quoting NightMoves
I think it is because of the news tomorrow.

--NM
hello NM.

Yes i think you are on the money.

Just something to note. Doesnt mean this pattern will play out. But you do see these patterns play out on USD intraday alot.

So time will tel..
  • #356
  • Dec 3, 2009 11:19pm Dec 3, 2009 11:19pm
Quoting jesterx
hello NM.

Yes i think you are on the money.

Just something to note. Doesnt mean this pattern will play out. But you do see these patterns play out on USD intraday alot.

So time will tel..
Even the pattern I had going on the CHFJPY is no longer vaild, so I think I am going to call it a night as the news has got the markets just at a standstill for now. You guys trade careful with news just a round the corner.

--NM
  • #357
  • Dec 3, 2009 11:20pm Dec 3, 2009 11:20pm
Now ??

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  • #358
  • Dec 3, 2009 11:32pm Dec 3, 2009 11:32pm
Quoting NightMoves
Even the pattern I had going on the CHFJPY is no longer vaild, so I think I am going to call it a night as the news has got the markets just at a standstill for now. You guys trade careful with news just a round the corner.

--NM

thanks buddy.

Have a good sleep see ya in the morning.
  • #359
  • Dec 4, 2009 12:34am Dec 4, 2009 12:34am
Hi NM,

From what I see, almost all jpy crosses hit a resistance now on higher time-frames. At least for me taking any yen long trade on the H1 or lower is far too risky until we clear the resistance area. Attached is the chjpy H4 with the possible resistance area.

Best Regards

Quoting NightMoves
Even the pattern I had going on the CHFJPY is no longer vaild, so I think I am going to call it a night as the news has got the markets just at a standstill for now. You guys trade careful with news just a round the corner.

--NM
Attached Image (click to enlarge)
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  • #360
  • Dec 4, 2009 6:46am Dec 4, 2009 6:46am
Quoting Custos
Hi NM,

From what I see, almost all jpy crosses hit a resistance now on higher time-frames. At least for me taking any yen long trade on the H1 or lower is far too risky until we clear the resistance area. Attached is the chjpy H4 with the possible resistance area.

Best Regards
HI Custos,
Yes they have that is one of the reasons I was holding off on the CHFJPY, however I would have taken the trade up to that point and then managed the trade at that level, the CHFJPY was about 50 pips below that major resistance level. And had broken the 100 MA which gave me an idea the setup will push up further. There was not a lot of good tradable trend out there so i was hoping for a good break.

But good eye always look at the longer time frames to make sure there is not any longer term resistance in the way of what would otherwise be a clean trade on the smaller TF.

--NM
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