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Trend Trading All Pairs

  • #421
  • Dec 6, 2009 7:53pm Dec 6, 2009 7:53pm
Hi NM,
Great thread NM. I was wondering if you knew whether Hector is still including the dashboard trend scanning indicator with his course and also was the ADR MT4 indicator that you use from him also? Would be very interested in getting hold of these to compliment the trend trading system.
  • #422
  • Dec 6, 2009 7:57pm Dec 6, 2009 7:57pm
Quoting pipnut
Thank You!

Have you made your analysis on the pairs for this evening? I was curious if you were going to upload your chart screen with all the pairs you are watching like last week? I am trying out your trading system and want to see if I have my charts drawn correctly.

pipnut
Right now Pipnut they are pretty much the same, they are banging off some resistance and I really am just waiting to see if it clears that resistance, the daily trend line is the one it's banging off of at the moment. That Orange line is daily resistance line that the bulls are trying to drive through.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: daily resistance.gif Size: 26 KB
  • #423
  • Dec 6, 2009 8:01pm Dec 6, 2009 8:01pm
Quoting NightMoves
Hi ja5on,

Look at this chart which shows the 1-2-3 formation and when to enter, the pull back is only a one candle pull back but it shows what the formation looks like and when to enter, you enter when the bounce occurs after #3 and clears the top of the #2.

This is an hourly chart of the E/J pair, these formations show on all time frames and pretty much can happen anywhere, but we are looking only at the retracement and at the point when the retracement reaches the conluence of S/R.

Make sense?

--NM


--NM
thanks. i can see that bounce.
what if the retracement hits the confluence of S/R and went straight to break the retracement trend which is at point #2. then this case when shud we enter it since there is no #3? for the chart u attached, there is a slight pull back aft #2. so #3 will bounce after the price at #2
secondly. how do we use a smaller tf to enter on a higher tf setup?
thanks again
  • #424
  • Dec 6, 2009 8:16pm Dec 6, 2009 8:16pm
Quoting ja5on
thanks. i can see that bounce.
what if the retracement hits the confluence of S/R and went straight to break the retracement trend which is at point #2. then this case when shud we enter it since there is no #3? for the chart u attached, there is a slight pull back aft #2. so #3 will bounce after the price at #2
Sometimes the market will leave without you, I have had that happen before, I never trade it unless there is a good BPC because about the time you get in the trade all of sudden you get a pullback and well it may not stop and then you get stopped out, and depending where that BPC occurs I may wait as well.

If it breaks the counter trendline with BPC but there is a RN number a few pips away from where the entry point should be, I like to wait and make sure that RN is not going to cause problems too, the market likes to get squirrely around those RN areas. I like to see the BPC closer to the retracement trendline if it is like 25 or 30 pips away from the retracement line then I will wait for it to happen after it passes through the trendline, because it could be a false breakout.

But if happens very close to the trend line then I may take it as it clears the trend line. Each trade is little different in that respect.

--NM
  • #425
  • Dec 6, 2009 8:17pm Dec 6, 2009 8:17pm
I saw a few charts that looked like that. I was looking at the eurjpy H1 chart for a possible setup in the near future. How does this look to you if you have time?

I am new to forum posting so please let me know if I am making any errors in my requests or committing any breaches of protocol.

pipnut
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 1h.gif Size: 29 KB
Even a blind squirrel finds a nut sometime.
  • #426
  • Dec 6, 2009 8:23pm Dec 6, 2009 8:23pm
Quoting ja5on
thanks. i can see that bounce.
what if the retracement hits the confluence of S/R and went straight to break the retracement trend which is at point #2. then this case when shud we enter it since there is no #3? for the chart u attached, there is a slight pull back aft #2. so #3 will bounce after the price at #2
secondly. how do we use a smaller tf to enter on a higher tf setup?
thanks again
The smaller time frame is where you are looking for the reversal formation, zooming in a little on a smaller TF lets you see the price action a little better so you can zero in on your entry point.

--NM
  • #427
  • Dec 6, 2009 8:24pm Dec 6, 2009 8:24pm
hi there guys..

ok....talking about the Chf/Jpy pair, it seems that in the hourly chart (attached), the price action seems to be heading towards the dynamic area between the 30 and 50 Sma.

however, problem is, there isn't much of a confluence of S/R in that area. I don't see much of a trend line nor counter trend line hitting that area, nor is there a RN.

The only thing I can see there is a previous break-out line which I have drawn in red.

If you guys can see some other S/R confluences, ca you guys help point it out? Thanks

Gp
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy h1.gif Size: 11 KB
  • #428
  • Dec 6, 2009 8:29pm Dec 6, 2009 8:29pm
Quoting NightMoves
Sometimes the market will leave without you, I have had that happen before, I never trade it unless there is a good BPC because about the time you get in the trade all of sudden you get a pullback and well it may not stop and then you get stopped out, and depending where that BPC occurs I may wait as well.

If it breaks the counter trendline with BPC but there is a RN number a few pips away from where the entry point should be, I like to wait and make sure that RN is not going to cause problems too, the market likes to get squirrely around those...
so that means it must break the counter trendline with a BPC then u take it as an valid entry? so the #1,#2&#3 that u had shown me. is it considered as a BPC? or is it a entry signal? errr. can u post some of ur entry points nxt time when u post ur other charts? haha thanks. i am still learning.
cheers!
  • #429
  • Dec 6, 2009 8:37pm Dec 6, 2009 8:37pm
Quoting gp75
hi there guys..

ok....talking about the Chf/Jpy pair, it seems that in the hourly chart (attached), the price action seems to be heading towards the dynamic area between the 30 and 50 Sma.

however, problem is, there isn't much of a confluence of S/R in that area. I don't see much of a trend line nor counter trend line hitting that area, nor is there a RN.

The only thing I can see there is a previous break-out line which I have drawn in red.

If you guys can see some other S/R confluences, ca you guys help point it out? Thanks

Gp
Gp,
Here is the 1hr chart of the CHFJPY.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr chart.gif Size: 26 KB
  • #430
  • Dec 6, 2009 8:39pm Dec 6, 2009 8:39pm
Quoting NightMoves
Sometimes the market will leave without you, I have had that happen before, I never trade it unless there is a good BPC because about the time you get in the trade all of sudden you get a pullback and well it may not stop and then you get stopped out, and depending where that BPC occurs I may wait as well.

If it breaks the counter trendline with BPC but there is a RN number a few pips away from where the entry point should be, I like to wait and make sure that RN is not going to cause problems too, the market likes to get squirrely around those...
so that means it must break the counter trendline with a BPC then u take it as an valid entry? so the #1,#2&#3 that u had shown me. is it considered as a BPC? or is it a entry signal? errr. can u post some of ur entry points nxt time when u post ur other charts? haha thanks. i am still learning.
cheers!
  • #431
  • Dec 6, 2009 8:42pm Dec 6, 2009 8:42pm
Quoting ja5on
so that means it must break the counter trendline with a BPC then u take it as an valid entry? so the #1,#2&#3 that u had shown me. is it considered as a BPC? or is it a entry signal? errr. can u post some of ur entry points nxt time when u post ur other charts? haha thanks. i am still learning.
cheers!
No problem, I can post the next trade I take so you can see what I am talking about, there is no perfect entry point because after you enter the market anything can happen, but I have found the 1-2-3 formation is the one I keep using, but any reversal formation in the area works, I just like the 1-2-3.

--NM
  • #432
  • Dec 6, 2009 8:51pm Dec 6, 2009 8:51pm
Quoting gp75
hi there guys..

ok....talking about the Chf/Jpy pair, it seems that in the hourly chart (attached), the price action seems to be heading towards the dynamic area between the 30 and 50 Sma.

however, problem is, there isn't much of a confluence of S/R in that area. I don't see much of a trend line nor counter trend line hitting that area, nor is there a RN.

The only thing I can see there is a previous break-out line which I have drawn in red.

If you guys can see some other S/R confluences, ca you guys help point it out? Thanks

Gp
Gp,
Remember markets are not perfect and it may not hit the RN right to the pip, or it may overshoot it alittle. But in the chart I posted at least on the hourly trend there is a RN(88.5) the trendline, the FIbo window and the dynamic area of S/R. so there is where I am looking for the reversal pattern which I have not seen yet. There is a lot right in that area, but that does not mean it will do its stuff but that is where I am looking for it to do its stuff it is going too. It did rise pretty fast on the 4hr chart so it may not run another impulse right away but then again you never know so I am waiting to see if there might be another one.

--NM
  • #433
  • Dec 6, 2009 8:53pm Dec 6, 2009 8:53pm
Quoting gp75
hi there guys..

ok....talking about the Chf/Jpy pair, it seems that in the hourly chart (attached), the price action seems to be heading towards the dynamic area between the 30 and 50 Sma.

however, problem is, there isn't much of a confluence of S/R in that area. I don't see much of a trend line nor counter trend line hitting that area, nor is there a RN.

The only thing I can see there is a previous break-out line which I have drawn in red.

If you guys can see some other S/R confluences, ca you guys help point it out? Thanks

Gp
Considering H1 is the setup chart, we have TL as shown by NM, price retraced to Fib 50 which is within NM's 38.2 - 61.8 boundaries and 88.50 is RN, previous swing high and tested several times on Friday which serves as SR. This proves all setup chart conditions are met. Now it is time to drop down to M15 to watch 123 formation (we have retracement TL there at the moment). But one thing to note is the TL drawn from the daily. We should take that into account before entering the trade as well since higher time frames prevail.

Thanks NM for sharing your strategy. I have been trading a similar strategy for a while with great success though I must admit yours is more methodical.
  • #434
  • Dec 6, 2009 8:58pm Dec 6, 2009 8:58pm
Quoting pipnut
I saw a few charts that looked like that. I was looking at the eurjpy H1 chart for a possible setup in the near future. How does this look to you if you have time?

I am new to forum posting so please let me know if I am making any errors in my requests or committing any breaches of protocol.

pipnut
Hi Pipnut,
that looks good, you should draw your Fibo in the direction you wanting to trade though. But otherwise it looks like a good spot, it helps to draw the trendlines as well as they are used as an element of S/R in this case it would be support.

--NM
  • #435
  • Dec 6, 2009 8:58pm Dec 6, 2009 8:58pm
Quoting NightMoves
No problem, I can post the next trade I take so you can see what I am talking about, there is no perfect entry point because after you enter the market anything can happen, but I have found the 1-2-3 formation is the one I keep using, but any reversal formation in the area works, I just like the 1-2-3.

--NM
thanks thanks. it would definitely help alot of ppl like me. haha. anyway u said u would tp at the amount left at ADR and nxt profit is the last impulse wave. can u show where is the TP for ur charts as well?
like how u going to see the last impulse wave. i dont understand what is the impulse wave.
  • #436
  • Dec 6, 2009 8:59pm Dec 6, 2009 8:59pm
Quoting jtone
Hi NM,
Great thread NM. I was wondering if you knew whether Hector is still including the dashboard trend scanning indicator with his course and also was the ADR MT4 indicator that you use from him also? Would be very interested in getting hold of these to compliment the trend trading system.
Hi jtone,
Yes he is still offering them. Yes all these indicators I got from him.

--NM
  • #437
  • Dec 6, 2009 9:06pm Dec 6, 2009 9:06pm
Quoting jtone
...also was the ADR MT4 indicator that you use from him also? Would be very interested in getting hold of these to compliment the trend trading system.
You can use this ADR indicator, does the job perfectly. It doesn't have to be pip-to-pip with NM's indi, IMO.
Attached File(s)
File Type: ex4 +ADR (1_5_10_20_60).ex4   9 KB | 865 downloads
File Type: mq4 +ADR (1_5_10_20_60).mq4   9 KB | 1,065 downloads
  • #438
  • Dec 6, 2009 9:09pm Dec 6, 2009 9:09pm
Quoting Blackeagle
You can use this ADR indicator, does the job perfectly. It doesn't have to be pip-to-pip with NM's indi, IMO.
Thanks Blackeagle will definitely take a look at those. I guess it was more the dashboard indicator I was interested in I haven't seen anything like that one.
  • #439
  • Dec 6, 2009 9:12pm Dec 6, 2009 9:12pm
Quoting Blackeagle
You can use this ADR indicator, does the job perfectly. It doesn't have to be pip-to-pip with NM's indi, IMO.
HI Blackeagle,
Yes that is correct you just need something that is going to get you in the ball park if you are going to trade the way I do, for the people that let the trends run they do not need it at all.

--NM
  • #440
  • Dec 6, 2009 9:16pm Dec 6, 2009 9:16pm
Thank you! I have the fib upside down as I use the extensions for targets, old habit.

Does the PA need to pierce the 30 MA to complete the setup? It looks like we are nearly there on the chfjpy. Also I wanted to know at what point you actually drop to the lower TF to look for the entry. Is it after seeing a bounce off S/R on the higher TF and then look to the lower TF for the pullback? I spent several hours listening to Hector's videos over the weekend and tossed my old charts to try this system but he didn't get that far on the videos I watched, stopped short of the entry info for obvious reasons. So I am in "uncharted" territory.

I really like the uncluttered appearance of the 3 MA only charts compared to the Stochs and other indicators I was using.

pipnut
Even a blind squirrel finds a nut sometime.
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