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Trend Trading All Pairs

  • #461
  • Dec 7, 2009 12:45am Dec 7, 2009 12:45am
Quoting Brixton
Good morning from London!

Watching E-J at the open here!
Retracement is too deep (almost 78.6), so I may take it out from watch list for now.
  • #462
  • Dec 7, 2009 1:11am Dec 7, 2009 1:11am
GJ is a better candidate now, IMO.
  • #463
  • Edited 4:52am Dec 7, 2009 3:53am | Edited 4:52am
This was a little bit of an advanced setup.
First chart (D1) showing the overall picture with the blue trendline pointing down and price banging against that trendline.
Second chart (H1) we see that the green trendeline was broken and we had a flat-bottom triangle (red trendlines) waiting for a breakout.
Third chart (M15) we see the bpc leading to an entry, and my first target being 80% of ADR (63.70), which already has been reached. Second target being 80% of the swing projection on the daily chart (59.10).

This setup has nothing to do with the MAs, just pure price action around decision taking areas with the trend (2 lower lows and 2 lower highs on daily chart). And sorry for all the different colors of the trendline, but I like to color code my trendlines according to the timeframe they are based on, so I know which ones are stronger.

best regards.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdjpy daily7.12.2009.gif Size: 50 KB
Click to Enlarge Name: nzdjpy h1 7.12.2009.gif Size: 53 KB
Click to Enlarge Name: nzdjpy m15 7.12.2009.gif Size: 55 KB
  • #464
  • Dec 7, 2009 4:39am Dec 7, 2009 4:39am
ja5on,

Good Morning! No I did not sign up for his course as yet, but there are a ton of videos on youtube regarding the 3 SMA system of trading. I am considering it though.

pipnut
Even a blind squirrel finds a nut sometime.
  • #465
  • Dec 7, 2009 5:27am Dec 7, 2009 5:27am
Good Morning everyone!

Looks like several of the yen crosses went right past the 50 MAs on the hourly charts from last nite. The gbpjpy is still holding there though.

pipnut
Even a blind squirrel finds a nut sometime.
  • #466
  • Dec 7, 2009 5:28am Dec 7, 2009 5:28am
Out of curiosity, whats the difference between his HectorTrader course and his LearnForexLive course?

Anyone know?
  • #467
  • Dec 7, 2009 5:31am Dec 7, 2009 5:31am
Quoting Pipalicious
Out of curiosity, whats the difference between his HectorTrader course and his LearnForexLive course?

Anyone know?
hm, I would say that they are quite similar. However the learnforexlive course is maybe a little bit more advanced, since it also incorporates candle stick patterns and counter trend trades.

best regards
  • #468
  • Dec 7, 2009 5:36am Dec 7, 2009 5:36am
I think cadjpy H1 is setting up for a long trade, just broke my retracement trendline, and enough room to next Resistance level. Waiting for bpc now.

best regards
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy h1 7.12.2009.gif Size: 54 KB
  • #469
  • Dec 7, 2009 5:51am Dec 7, 2009 5:51am
Hi guys.

Just to get my head around the method.

Basically we look for harmonic trending markets.

Once identified, we look to enter on a break, pullback, continuation pattern in direction of main trend.

Is this correct or am i missing something?

Obviously taking into account round numbers, fibs and i imagine trendlines aswell?

cheers
  • #470
  • Dec 7, 2009 6:10am Dec 7, 2009 6:10am
Quoting pipnut
Good Morning everyone!

Looks like several of the yen crosses went right past the 50 MAs on the hourly charts from last nite. The gbpjpy is still holding there though.

pipnut
Hi Pipnut,
Yes I see that, that is one of the reasons to look at the larger time frames for a better picture so you can see what needs to be done before you take an entry. This pair has been kind of ranging for awhile on the weekly chart but it has broken that resistance level before, and I think everyone knew it would not be a cakewalk to get through that mess.

But we as trend traders do not really care which way it goes as long as it gets into an established tradeable trend. If the uptrend is turning back into a down trend well then we will trade that way.

--NM
  • #471
  • Dec 7, 2009 6:10am Dec 7, 2009 6:10am
hey guys,

i notice that the market is extremely quiet with not much movements and very small bars. this is slightly unusual for a NY opening I would say.

could it be that the market is waiting for the outcome of trichet's speech?

or could it be the market waiting for bernanke's speech later on?

or could it be something else?

Gp.
  • #472
  • Dec 7, 2009 6:17am Dec 7, 2009 6:17am
Quoting Pipalicious
Hi guys.

Just to get my head around the method.

Basically we look for harmonic trending markets.

Once identified, we look to enter on a break, pullback, continuation pattern in direction of main trend.

Is this correct or am i missing something?

Obviously taking into account round numbers, fibs and i imagine trendlines aswell?

cheers
Hi Pip,
that is basicially the method. It is a simple method but an effective system. Nothing more than normal trend trading and only in the direction of the trend.

--NM
  • #473
  • Dec 7, 2009 6:31am Dec 7, 2009 6:31am
This pair could drop for a while it came up fast so this is not really a suprise but Iwill just watch it and see how it reacts when the retracement gets to those levels. Here is the 4hr chart.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 27 KB
  • #474
  • Dec 7, 2009 6:36am Dec 7, 2009 6:36am
Quoting NightMoves
This pair could drop for a while it came up fast so this is not really a suprise but Iwill just watch it and see how it reacts when the retracement gets to those levels. Here is the 4hr chart.

--NM
which pair is it?
  • #475
  • Dec 7, 2009 6:37am Dec 7, 2009 6:37am
Here is the CADJPY almost the same setup with all the YEN crosses right now.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: cadjoy daily.gif Size: 33 KB
  • #476
  • Dec 7, 2009 6:39am Dec 7, 2009 6:39am
Quoting Custos
which pair is it?
The CHFJPY pair is the pair I was talking about, but I think all the yen crosses are seeing something similar right now.
  • #477
  • Dec 7, 2009 6:49am Dec 7, 2009 6:49am
Quoting NightMoves
The CHFJPY pair is the pair I was talking about, but I think all the yen crosses are seeing something similar right now.
I see it the same way, most yen pairs are breaching their H1 up-trendline right now potentially changing the trend, but gonna wait till the MA's line up for entries to the short side.
  • #478
  • Dec 7, 2009 6:54am Dec 7, 2009 6:54am
Quoting Custos
I see it the same way, most yen pairs are breaching their H1 up-trendline right now potentially changing the trend, but gonna wait till the MA's line up for entries to the short side.
I am looking at the same strategy, there is so much garbage too push through at the level we are at I do not think the bulls are up for the challenge, I wish they would have been there is not much resistance past that brush pile.

--NM
  • #479
  • Dec 7, 2009 6:55am Dec 7, 2009 6:55am
Hi NM

Came across your thread a day or two ago thought i recognized Hectorstyle I took his course i think a year or so ago I never did get his indicators working they just froze up mt4 couldnt get rid of them and had to delete platform and reload would be handy to know why' didnt really get answer from hector, Im running XP, tried it on another computer it wouldnt cooperate either either, anyway I use his style but on M5 with M1 as trigger I watch 6 low spread pairs spreadbetting in uk it works well for me as I cant handle larger stoplosses with higher timeframes
Its good to have a thread where people can propose and confirm their views on a single trading style in what is by nature a solitary occupation, so long as the method doesnt get altered and tweeked which is what invariably tends to happen,good luck with it Ill keep looking in and may even try longer trades at some point
Francis
  • #480
  • Dec 7, 2009 7:02am Dec 7, 2009 7:02am
Hi NM,

Thanks for ur trading system. It is simple yet powerful.
Keep up ur work bro...
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