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Trend Trading All Pairs

  • #1,421
  • Dec 19, 2009 11:43am Dec 19, 2009 11:43am
Quoting NightMoves
#1 is the intitial surge of the retracement right at the RN which was one of the elements of Resistance, along with the Fibo, and a previous swing low, and then it bounced off that level kind of broke the main down trend line buy a few pips and then #2 intially broke back into the trend, and then #3 was the pullback, notice how the pullback did not take out #1? If it had taken out number #1 then the setup would have been invalid.

The after the continuation broke down through that RN is when I placed my entry. SL should be placed just a few pips...

yea if it was a lobsided M. if the top of the M is near the RN or any other S/R it would fit the picture. i see it that way. haa..

previously i would always wait for the price to pullback aft the price broke the retracement line. it never happens so i could not enter. now i see the M and once it broke the M i would enter.

look at the way i see it

Attached Image (click to enlarge)
Click to Enlarge Name: trade 123.gif Size: 32 KB
  • #1,422
  • Dec 19, 2009 1:27pm Dec 19, 2009 1:27pm
Quoting ja5on
yea if it was a lobsided M. if the top of the M is near the RN or any other S/R it would fit the picture. i see it that way. haa..

previously i would always wait for the price to pullback aft the price broke the retracement line. it never happens so i could not enter. now i see the M and once it broke the M i would enter.

look at the way i see it

Attachment
Yep you got it, thats what I look for, and you have entry and stop loss placed correct.

--NM
  • #1,423
  • Dec 19, 2009 1:33pm Dec 19, 2009 1:33pm
Quoting ja5on
yea if it was a lobsided M. if the top of the M is near the RN or any other S/R it would fit the picture. i see it that way. haa..

previously i would always wait for the price to pullback aft the price broke the retracement line. it never happens so i could not enter. now i see the M and once it broke the M i would enter.

look at the way i see it

Attachment
And normally I wait for the pullback to happen after it breaks the trend line, but in this case not only did break 2 trendlines but it also crossed the RN so I figured this was a pretty safe trade.

--NM
  • #1,424
  • Dec 20, 2009 5:04pm Dec 20, 2009 5:04pm
Quoting abaid101
TRading is to difficult There are a lot OF chances to loose ur money. is there any way to perfect trading
You are right about loosing and a lot of new traders do and never return , but look at it this way.

1 What would a good University training cost and how much time would you expect to devote to it if it was a high probability of giving you a good income at the end? That is how much and how long you could sacrifice to get good at trading.

2 Read Trading In the Zone by Mark Douglas. If you are afraid of loosing money you will never make it as a trader.

3. As NM said you need a plan. Then you need discipline. TITZ lets you see how these work and sets you up to be a disciplined trader. Worth the time and $$.
  • #1,425
  • Dec 21, 2009 2:02am Dec 21, 2009 2:02am
I think first time in a year that I took a trade on eur/chf. Attached is the eur/chf H1 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf h1 21.12.2009.gif Size: 50 KB
  • #1,426
  • Dec 21, 2009 2:16am Dec 21, 2009 2:16am
Nice one Custos, what do you think of the GU setup. I'm looking at a trigger off the 15M chart at 6120
Attached Image (click to enlarge)
Click to Enlarge Name: gu_1hr setup.gif Size: 20 KB
  • #1,427
  • Dec 21, 2009 2:22am Dec 21, 2009 2:22am
Quoting glynnt
Nice one Custos, what do you think of the GU setup. I'm looking at a trigger off the 15M chart at 6120
I am looking at the same trade. But I would enter at 6110, so that it clears that resistance made on the m15 chart. Or if you are very conservative, then maybe wait for it to break 6100 (round number).

best regards
  • #1,428
  • Dec 21, 2009 2:53am Dec 21, 2009 2:53am
GU short at 6115
  • #1,429
  • Dec 21, 2009 2:56am Dec 21, 2009 2:56am
Quoting Custos
I think first time in a year that I took a trade on eur/chf. Attached is the eur/chf H1 chart.
haha, what the hell happened with the eur/chf? Anybody know if there have been any unexpected news? Already stopped out.
  • #1,430
  • Dec 21, 2009 2:58am Dec 21, 2009 2:58am
That was one hell of a reaction to something...cant find what though!!
  • #1,431
  • Dec 21, 2009 3:07am Dec 21, 2009 3:07am
Quoting glynnt
GU short at 6115
I am also in the gu, let's hope that one works out now
  • #1,432
  • Dec 21, 2009 3:11am Dec 21, 2009 3:11am
I'm already out. Dropped hard and fast to the L3 Camarilla pivot at 6090.
  • #1,433
  • Dec 21, 2009 5:42am Dec 21, 2009 5:42am
Quoting glynnt
I'm already out. Dropped hard and fast to the L3 Camarilla pivot at 6090.
I closed my trade at b/e now, not much momentum going on here.
  • #1,434
  • Dec 21, 2009 6:43am Dec 21, 2009 6:43am
Anyone know why USDCAD drop like that ?
  • #1,435
  • Dec 21, 2009 6:57am Dec 21, 2009 6:57am
Quoting FXTheOne
Anyone know why USDCAD drop like that ?
might be the upcoming news!
  • #1,436
  • Dec 21, 2009 7:37am Dec 21, 2009 7:37am
Finally, we got some pairs moving again.

cadchf, gbpcad & eurcad broke their S&R level today. I think we can see some nice continuation opportunities tomorrow. (And of course eurusd and audusd are still a big sell in my opinion, once we get a setup)

best regards
  • #1,437
  • Dec 21, 2009 8:02am Dec 21, 2009 8:02am
Quoting Custos
Finally, we got some pairs moving again.

cadchf, gbpcad & eurcad broke their S&R level today. I think we can see some nice continuation opportunities tomorrow. (And of course eurusd and audusd are still a big sell in my opinion, once we get a setup)

best regards
EU and AUDUSD, Havent' moved much since last week, I'm hesitant to keep them open.
  • #1,438
  • Dec 21, 2009 8:59am Dec 21, 2009 8:59am
HI Guys,
just keep in mind that we are getting close the holidays and the markets are going to be getting pretty choppy most likely the rest of the month. I have not triggered trades today, even though there was a couple of nice looking setups, I was just to leary to get in them right now. The USDJPY is one I was looking at after it finally broke out of the pennant, but I did not take it. SO becareful trading the markets are going to start getting really tricky..

--NM
  • #1,439
  • Dec 22, 2009 3:13am Dec 22, 2009 3:13am
took a trade on gbp/cad. Shows some good momentum, already moved stop to b/e and waiting to see it hit the first target. If it doesn't hit it within then next 15 min before the news I will close manually 50% of the trade.

Did you guys take any trade today?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad h1 22.12.2009.gif Size: 59 KB
  • #1,440
  • Dec 22, 2009 5:36am Dec 22, 2009 5:36am
god, aud/usd is triggering now for a short on the h1. I am just worried that it might not follow through, since ny didn't open yet and london is on lunch break. Even though it's a good opportunity I may just pass on that one. But just posting the trade, since it's valid nonetheless.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h1 22.12.2009.gif Size: 53 KB
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