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Trend Trading All Pairs

  • #441
  • Edited 9:32pm Dec 6, 2009 9:21pm | Edited 9:32pm
Quoting pipnut
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,...
Pipnut,
After you get your setup chart set and lines drawn and such then you can switch over to the smaller TF. I have 2 charts of the same pair open, one of the setup and the other is the trigger, if you use to small a TF for the trigger then you have search through all the noise, so I kind of experiment a little to see which TF is giving the best looking entry signals.

--NM
  • #442
  • Dec 6, 2009 9:22pm Dec 6, 2009 9:22pm
Quoting pipnut
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,...
You should be able to add the extensions to your fibo. and then you do not have to draw it upside down.

--NM
  • #443
  • Dec 6, 2009 9:31pm Dec 6, 2009 9:31pm
I am getting the idea that this came up so fast and slammed into all that resistance it may time for a retrace, so this whole setup might get tossed right out the window and I am sure the other YEN crosses will do the same thing. So time is going to tell if this trend has anymore pips to give us, or if we have to search for another train to ride on for awhile...

--NM
  • #444
  • Dec 6, 2009 10:20pm Dec 6, 2009 10:20pm
I was noting an area on the chfjpy H4 chart around 89.50 that served as Resistance back at the beginning of November for about a week. Then the PA fell to the recent low.

pipnut
Even a blind squirrel finds a nut sometime.
  • #445
  • Dec 6, 2009 10:30pm Dec 6, 2009 10:30pm
Quoting pipnut
I was noting an area on the chfjpy H4 chart around 89.50 that served as Resistance back at the beginning of November for about a week. Then the PA fell to the recent low.

pipnut
Yes there is a lot of brush to plow throgh at this level, most of the yen crosses are seeing this brush pile. I think if it clears that mess than this trend will go for a few hundred pips more.

--NM
  • #446
  • Dec 6, 2009 10:34pm Dec 6, 2009 10:34pm
So would you pass on a chfjpy setup under that R level and wait for another to form above it OR take a trade and set your initial TP there and move SL to BE?

pipnut
Even a blind squirrel finds a nut sometime.
  • #447
  • Dec 6, 2009 10:37pm Dec 6, 2009 10:37pm
Here is the 1hr E/J cross, looking like it is getting in good position, these may not take off until the London session opens, then once the big players start the day then it will move one way or the other..

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr chart.gif Size: 27 KB
  • #448
  • Dec 6, 2009 10:45pm Dec 6, 2009 10:45pm
Quoting pipnut
So would you pass on a chfjpy setup under that R level and wait for another to form above it OR take a trade and set your initial TP there and move SL to BE?

pipnut
I may wait until it gets above that level and see what it does, if it moves with some big momentum above that level and we have had a good BPC then I may jump on it, but if it just creeps it way there then I will rethink my entry until I know we are out out of the woods.

--NM
  • #449
  • Dec 6, 2009 10:46pm Dec 6, 2009 10:46pm
Quoting NightMoves
I am getting the idea that this came up so fast and slammed into all that resistance it may time for a retrace, so this whole setup might get tossed right out the window and I am sure the other YEN crosses will do the same thing. So time is going to tell if this trend has anymore pips to give us, or if we have to search for another train to ride on for awhile...

--NM
So far 30 SMA on setup chart is holding the price and everything is still in place. Watching M15 to see if retracement TL will be broken.
  • #450
  • Dec 6, 2009 11:00pm Dec 6, 2009 11:00pm
Quoting Blackeagle
So far 30 SMA on setup chart is holding the price and everything is still in place. Watching M15 to see if retracement TL will be broken.
I am watching the 15 min chart too, and I see it has broke the 4 hr trendline so now we have to get back above that...I was hoping it would retrace the level it is at and then make a nice clean break to the upside, but noooooo it just cant do that...

--NM
  • #451
  • Dec 6, 2009 11:08pm Dec 6, 2009 11:08pm
We have like 3 levels of resistance to get through before this is a go I think. The retracement line, the upper daily line and now the 4hr trendline.

--NM
  • #452
  • Edited Dec 7, 2009 12:09am Dec 6, 2009 11:23pm | Edited Dec 7, 2009 12:09am
http://www.sendspace.com/file/cis0fl

http://www.softpedia.com/progDownloa...load-8819.html

Setting Targets and Stop Loss
  • #453
  • Dec 6, 2009 11:36pm Dec 6, 2009 11:36pm
Well guys I have set my price alarm and now I am going to head for bed and hopefully I will have to get up in a little while and place a trade.

--NM
  • #454
  • Dec 6, 2009 11:39pm Dec 6, 2009 11:39pm
Quoting NightMoves
We have like 3 levels of resistance to get through before this is a go I think. The retracement line, the upper daily line and now the 4hr trendline.

--NM
Since upper daily is above all, I think we should watch that one after retracement line is broken. Therefore if 123 pattern forms below daily TL, then it is safer to enter long 10 pips above daily TL.
  • #455
  • Dec 6, 2009 11:51pm Dec 6, 2009 11:51pm
Hello Musashi!

I can't seem to open the .swf file from the link. Have you already triggered a trade at this point or still waiting?

pipnut
Even a blind squirrel finds a nut sometime.
  • #456
  • Dec 7, 2009 12:08am Dec 7, 2009 12:08am
G'night All!!
Even a blind squirrel finds a nut sometime.
  • #457
  • Dec 7, 2009 12:08am Dec 7, 2009 12:08am
Quoting pipnut
Hello Musashi!

I can't seem to open the .swf file from the link. Have you already triggered a trade at this point or still waiting?

pipnut
http://www.softpedia.com/progDownloa...load-8819.html

No trade triggered yet. Still looking for longs on yen pairs and short on dollar pairs.
  • #458
  • Dec 7, 2009 12:16am Dec 7, 2009 12:16am
Musashi,

Thanks for the response and the link! I'll try that software in the AM. I am fading out now, spent most of the day watching HectorTrader videos. Wish you good pip hunting tonite.

pipnut
Even a blind squirrel finds a nut sometime.
  • #459
  • Dec 7, 2009 12:34am Dec 7, 2009 12:34am
Quoting pipnut
Musashi,

Thanks for the response and the link! I'll try that software in the AM. I am fading out now, spent most of the day watching HectorTrader videos. Wish you good pip hunting tonite.

pipnut
u went to sign up for it already? or did u just read on the first chapter vids?
  • #460
  • Dec 7, 2009 1:58am Dec 7, 2009 1:58am
Good morning from London!

Watching E-J at the open here!
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