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Trend Trading All Pairs

  • #981
  • Dec 9, 2009 11:00pm Dec 9, 2009 11:00pm
Ok, I am half out now @ +73 pips, and now I will just let it run and see if goes further and moved my SL down more, so if I get stopped out now then the second half will net +20, I was just watching Ghost Hunters with my laptop on the coffee table and then my alarm went off and as soon as it crossed thhose trend lines I was in.

can you see the the 4 bar pullback? That came right off the deepest part of the retracement, that was my initial setup when the top of the pullback did not takeout the retracement and then the contimuation plummeted throught the trend line, I used the RN as my entry point in case it bounced back, it was pretty close to it but it cleared itthe bounce came after it cleared and I thought I got faked out but I didnt...

--NM
  • #982
  • Dec 9, 2009 11:01pm Dec 9, 2009 11:01pm
This was a runner when it came out as we were talking about before...
  • #983
  • Dec 9, 2009 11:05pm Dec 9, 2009 11:05pm
Now that I have some time, here is a better picture of the 1-2-3 I saw

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: trade 123.gif Size: 29 KB
  • #984
  • Dec 9, 2009 11:11pm Dec 9, 2009 11:11pm
My setup was the 1 hour chart and my trigger was the 15 minute chart. I waited until it dropped below the RN before placing my entry we so close to that RN and I did not want to get bounced out in case it was a fake out but the 1-2-3 was pretty clean, and then away it went..

--NM
  • #985
  • Dec 9, 2009 11:12pm Dec 9, 2009 11:12pm
Quoting NightMoves
Ok, I am half out now @ +73 pips, and now I will just let it run and see if goes further and moved my SL down more, so if I get stopped out now then the second half will net +20, I was just watching Ghost Hunters with my laptop on the coffee table and then my alarm went off and as soon as it crossed thhose trend lines I was in.

can you see the the 4 bar pullback? That came right off the deepest part of the retracement, that was my initial setup when the top of the pullback did not takeout the retracement and then the contimuation plummeted throught...

ohh.. tt was nice.. actually always thought that the price must break the retracement trendline then pull back to the retracement then it is considered as a pullback. so i always missed out on that bit.
so the pullback can also be within the retracement trend. now i see things!
haha

not sure whether will it still go further down not. looks like the price is waiitng for london open
  • #986
  • Dec 9, 2009 11:15pm Dec 9, 2009 11:15pm
Quoting ja5on
ohh.. tt was nice.. actually always thought that the price must break the retracement trendline then pull back to the retracement then it is considered as a pullback. so i always missed out on that bit.
so the pullback can also be within the retracement trend. now i see things!
haha

not sure whether will it still go further down not. looks like the price is waiitng for london open
Sometimes it is better to wait for the breakout to retest the trendline but when it broke the RN and the trendlines it looked pretty safe at that point.

--NM
  • #987
  • Dec 9, 2009 11:20pm Dec 9, 2009 11:20pm
It may come back on me but I would still make 20 pips on the second half if it does, but the ADR on this pair is like 256 so if for some reason it goes the distance before it gets me then I will be a happy camper if it breaks above the the 143 then it was just a run because of how long it was stuck in the brush up there. But thats ok too...

--NM
  • #988
  • Dec 9, 2009 11:20pm Dec 9, 2009 11:20pm
Quoting NightMoves
Sometimes it is better to wait for the breakout to retest the trendline but when it broke the RN and the trendlines it looked pretty safe at that point.

--NM

so this is solely based on ur experience. haa.
great job. that means i m always catching the train late.
  • #989
  • Dec 9, 2009 11:22pm Dec 9, 2009 11:22pm
Watch how it will play around that RN before it takes off in whatever direction it wants to go in...
  • #990
  • Dec 9, 2009 11:25pm Dec 9, 2009 11:25pm
Its playing around that RN before it gets me...LOL
  • #991
  • Dec 9, 2009 11:27pm Dec 9, 2009 11:27pm
i think most pairs have already break that retracement trend now. moving away from the MAs... we shall wait for another attempt to test the MAs...

imo i think that the 100ma is going to be tested soon .. too many test on the 50ma recently already. they are waiting for chance to break the 50ma
  • #992
  • Edited 11:34pm Dec 9, 2009 11:33pm | Edited 11:34pm
Quoting NightMoves
Now that I have some time, here is a better picture of the 1-2-3 I saw

--NM
Hey NM, Would you still consider that a 'trend trade' even though it went deep into the dynamic area of resistance of the 1hr chart? Great job BTW!
  • #993
  • Dec 9, 2009 11:35pm Dec 9, 2009 11:35pm
anyway today the interest rates are coming out for england in another 7 hrs time. so might wanna stay out of trades near there =D

nm
are u still in the chf trade?
  • #994
  • Dec 9, 2009 11:39pm Dec 9, 2009 11:39pm
Quoting ja5on
so this is solely based on ur experience. haa.
great job. that means i m always catching the train late.
Well somewhat maybe, but I still need the 1-2-3 to get in the trade and if there is enough S/R near that area I will wait for it to plow through those S/R lines if the 1-2-3 happens behind the TL then I get in the trade, had this RN not been near there I would have waited a little longer but those RN can make a big difference when everything comes together in that spot, it broke 2 trendlines after the 1-2-3 and then crossed below the RN so alot of things happned in that small area. And it came out with good momentum so I figured it was fairly safe for a while anyway, it moved far enough for me to place my SL past the BE and close half the lot size.

--NM
  • #995
  • Dec 9, 2009 11:43pm Dec 9, 2009 11:43pm
I will be out of this trade before the news release, at least an hour before that happens, unless it takes me out before that or my TP is hit which right now is 142.18, but if it looks rough and looks like it may not make that I will close it out.

--NM
  • #996
  • Dec 9, 2009 11:43pm Dec 9, 2009 11:43pm
Quoting NightMoves
I got in the G/Y pair too.....almost perfect....
Hi NM,

I see you got into the gbp/jpy trade. That was a good "in-range" trade. A shame that I slept at that time. Now I am waiting for a breakout of that range. Eur/usd is also setting up for a LOB.

By the way, I like the way you use RNs for your entries. I only used them for target placements and sometimes stop placements before, but to use them for entries makes perfect sense as well (puts you out of a lot of harmful trades)

best regards.
  • #997
  • Dec 9, 2009 11:44pm Dec 9, 2009 11:44pm
Quoting ja5on
anyway today the interest rates are coming out for england in another 7 hrs time. so might wanna stay out of trades near there =D

nm
are u still in the chf trade?
I am only in the G/Y trade right now
  • #998
  • Dec 9, 2009 11:46pm Dec 9, 2009 11:46pm
Quoting NightMoves
I will be out of this trade before the news release, at least an hour before that happens, unless it takes me out before that or my TP is hit which right now is 142.18, but if it looks rough and looks like it may not make that I will close it out.

--NM
I assume you also look at the forex factory news calendar. Which items do you watch for? Red ones only? or do you also watch out for orange marked news?
  • #999
  • Dec 9, 2009 11:48pm Dec 9, 2009 11:48pm
Quoting Custos
Hi NM,

I see you got into the gbp/jpy trade. That was a good "in-range" trade. A shame that I slept at that time. Now I am waiting for a breakout of that range. Eur/usd is also setting up for a LOB.

By the way, I like the way you use RNs for your entries. I only used them for target placements and sometimes stop placements before, but to use the for entries makes perfect sense as well (puts you out of a lot of harmful trades)

best regards.
Hi custos,
Yes those RN are really important, PA just gets really squirrely everytime it gets to one them invisible barriers...

--NM
  • #1,000
  • Dec 9, 2009 11:52pm Dec 9, 2009 11:52pm
Quoting Custos
I assume you also look at the forex factory news calendar. Which items do you watch for? Red ones only? or do you also watch out for orange marked news?
Orange and red are the ones I pay closer attention too. And I am out of the market at least an hour before and then I wait for the dust to settle before I get in..

--NM
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