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Trend Trading All Pairs

  • #1,281
  • Dec 16, 2009 12:28am Dec 16, 2009 12:28am
Pirce has broken through weekly trendline ... and looks like it will continue downward ..there is a previous support at 1.44809 but downward momentum is quite strong and price may continue down without much problem
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  • #1,282
  • Dec 16, 2009 12:32am Dec 16, 2009 12:32am
Quoting MktScape
Pirce has broken through weekly trendline ... and looks like it will continue downward ..there is a previous support at 1.44809 but downward momentum is quite strong and price may continue down without much problem
I see it the same way. I would like to see a long bpc, which also takes out that 1.448 level, then I will enter.
  • #1,283
  • Dec 16, 2009 12:39am Dec 16, 2009 12:39am
Thanks guys.

Dave
  • #1,284
  • Dec 16, 2009 12:40am Dec 16, 2009 12:40am
But amazing how the asian session moved again. A shame that I have to sleep during that time. gbp/aud, aud/usd and eur/aud (counter-trend), gave really nice opportunities on the hourly charts. Maybe next time I just put an order in in one of those pairs and just enter on a breakout in direction of the trend.
  • #1,285
  • Dec 16, 2009 12:42am Dec 16, 2009 12:42am
On GBP-CHF overall down trend has been broken .... and price is pulling back at a previous resistance level on the daily chart. I think this will be a good long opprtunity on the B/O-P/B and continuation of this resistance at 1.69651

Quoting Custos
Well, I look into gbp/chf (first chart) and eur/usd (second chart) H1 timeframe.
I hope to get a london open breakout trade (breakout of the red line).

haha, I just see, gbp/chf shies away from my red trendline, damn!

best regards
  • #1,286
  • Dec 16, 2009 12:44am Dec 16, 2009 12:44am
Correct ..thats what I am thinking...check my GBP-CHF comments do you see it as well
Quoting Custos
I see it the same way. I would like to see a long bpc, which also takes out that 1.448 level, then I will enter.
  • #1,287
  • Dec 16, 2009 12:46am Dec 16, 2009 12:46am
Quoting MktScape
On GBP-CHF overall down trend has been broken .... and price is pulling back at a previous resistance level on the daily chart. I think this will be a good long opprtunity on the B/O-P/B and continuation of this resistance at 1.69651
I agree, so now let's just hope that we get a move up and a bpc!
  • #1,288
  • Dec 16, 2009 12:58am Dec 16, 2009 12:58am
Quoting Custos
Well, I look into gbp/chf (first chart) and eur/usd (second chart) H1 timeframe.
I hope to get a london open breakout trade (breakout of the red line).

haha, I just see, gbp/chf shies away from my red trendline, damn!

best regards
I forgot to mention, gbp/jpy is also setting up for a long london open breakout maybe.
  • #1,289
  • Dec 16, 2009 4:24am Dec 16, 2009 4:24am
I missed the GU breakout. Was there a good low risk bpc entry I could have taken please? Would you consider a bpc on a 5 min chart for a breakout setup?

Thanks,

Dave
  • #1,290
  • Dec 16, 2009 4:39am Dec 16, 2009 4:39am
Quoting Sutts
I missed the GU breakout. Was there a good low risk bpc entry I could have taken please? Would you consider a bpc on a 5 min chart for a breakout setup?

Thanks,

Dave
Well, it depends on the setup of course, if you have a trend on the 30 min, then a bpc on the 5 min would be good.
However, on the gu, I don't see any trend whatsoever. Even if you took a counter-trend entry, you still need a previous trend before. But price is just ranging on GU H4, thus no previous trend. It would have been a very low probability setup, in my opinion.

best regards

by the way, I am in the gbp/chf. It is quite struggling, I am gonna close out 50% right now and move stop to b/e there. Let's see what it wants to do.
  • #1,291
  • Dec 16, 2009 4:59am Dec 16, 2009 4:59am
theres alot of chance to trade today. i am busy with work. cant trade as much already. so sad.
  • #1,292
  • Dec 16, 2009 5:03am Dec 16, 2009 5:03am
Quoting Custos
Well, it depends on the setup of course, if you have a trend on the 30 min, then a bpc on the 5 min would be good.
However, on the gu, I don't see any trend whatsoever. Even if you took a counter-trend entry, you still need a previous trend before. But price is just ranging on GU H4, thus no previous trend. It would have been a very low probability setup, in my opinion.

best regards

by the way, I am in the gbp/chf. It is quite struggling, I am gonna close out 50% right now and move stop to b/e there. Let's see what it wants to do.
Thanks Custos, I don't feel so bad now. I'm finding the spotting of setups quite difficult and I think I'm grasping at straws a bit. Hopefully with enough practice things will seem a little more obvious.

Cheers,

Dave
  • #1,293
  • Dec 16, 2009 5:04am Dec 16, 2009 5:04am
Just wait for the news to be released in next 25mins
  • #1,294
  • Dec 16, 2009 5:52am Dec 16, 2009 5:52am
It would sure be nice to get a nice 2 or 3 bar pullback on the E/U pair while there is still room left....

--NM
  • #1,295
  • Dec 16, 2009 5:56am Dec 16, 2009 5:56am
Here is the 1 hr chart of the E/U pair, trigger chart will be the 15 min chart.

--NM
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  • #1,296
  • Dec 16, 2009 6:38am Dec 16, 2009 6:38am
Does not look like the setup is going to hold so that one is scratched for now..

--NM
  • #1,297
  • Dec 16, 2009 6:45am Dec 16, 2009 6:45am
I guess I should have set my alarm for the G/Y pair like I was going to do but didnt.

--NM
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  • #1,298
  • Dec 16, 2009 11:20am Dec 16, 2009 11:20am
Quoting NightMoves
I guess I should have set my alarm for the G/Y pair like I was going to do but didnt.

--NM
Hi NM,

I must say im very impressed with the content hector has to offer in his newest course. Its solid. I didnt go into his older course but either way, thanks for the tip on it buddie

Now, may i ask which TF do you focus on primarily as your setup chart? Correct me if im wrong but you seem to like the h1 a lot?

If so, how many A+ trades per week/month are you managing to take advantage of and %-wise what do you personally consider realistic with this method?

Dont mean to be nosey, just comparing with my previous results with a similar method but with diferent exit policies and i must say the way hector takes into account his exits (tp1, tp2 ...) really feels logical and solid to me.

Thanks either way mate.

Pip
  • #1,299
  • Dec 16, 2009 1:29pm Dec 16, 2009 1:29pm
Quoting Pipalicious
Hi NM,

I must say im very impressed with the content hector has to offer in his newest course. Its solid. I didnt go into his older course but either way, thanks for the tip on it buddie

Now, may i ask which TF do you focus on primarily as your setup chart? Correct me if im wrong but you seem to like the h1 a lot?

If so, how many A+ trades per week/month are you managing to take advantage of and %-wise what do you personally consider realistic with this method?

Dont mean to be nosey, just comparing with my previous...
HI Pip,
I have traded the daily charts right down to the 30 minute chart, the 4 hour chart is what I like to trade but with limited trading time I have been looking at the shorter time frames lately.

In the last 31 trades I have 2 that went south on me and I took a small loss and that was because I basically choked out the market and I did not give it enough room to move.

I take anywhere from 2 to 5 trades or so a week if the setups are there, if you stay convservative and do not over trade trying to make something happen and follow the entry and S/L rules there should be no problem making money from this system at all.

A far as % goes, that is all based on your MM, I know how I have done over the last several years and that is the reason I only trade this method. Most of the big moves are ususally during the beginning of the London session and if you trade that you can do rather well at it, that is why I set my alarms so I can try and catch at least a piece of the move.

This is not like a mechanical system where you have oscillaitaors and cross overs telling you when to buy and sell, it is totally price action. And the better you get at reading the charts and finding the S/R levels of concern the more confident you get and you find yourself staying way from the high risk trades and only taking high probability low risk trades.

So the harder you work at it the more you get out if it, it takes work to get yourself trained to dump the oscillators and rely totally on PA, and it took me while to do that, but I am glad I did.


--NM
  • #1,300
  • Dec 16, 2009 1:34pm Dec 16, 2009 1:34pm
usdjpy looks to be setting up a box break to maybe the upside any thoughts?
Attached Image (click to enlarge)
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Chris
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