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Trend Trading All Pairs

  • #1,441
  • Dec 22, 2009 7:42am Dec 22, 2009 7:42am
Quoting Custos
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.
good that I didn't enter that! would have stopped me out right now! always follow the rules!
  • #1,442
  • Dec 22, 2009 12:43pm Dec 22, 2009 12:43pm
Quoting Custos
good that I didn't enter that! would have stopped me out right now! always follow the rules!
I thought it might move with EU.
been sitting on the same pips for some time now.
  • #1,443
  • Dec 22, 2009 9:27pm Dec 22, 2009 9:27pm
Hi Guys,
I thought I would post this video:
Inserted Video


--NM
  • #1,444
  • Dec 23, 2009 12:34am Dec 23, 2009 12:34am
Thanks NM
Nice clear explanation.
I am looking for a tutorial on MT$ so I can write an expert to put up the ADR and range for day on screen along with the spread. Makes it easy to make an eval at any given point of time.
Will try to write it over the break.
  • #1,445
  • Dec 23, 2009 3:38am Dec 23, 2009 3:38am
hey NM, which broker you using for chartig. I was using MIG but they added 5 numbers after the decimal which messes up the round numbers.

any suggestions?

thanx
  • #1,446
  • Dec 23, 2009 8:31am Dec 23, 2009 8:31am
Quoting shomari
hey NM, which broker you using for chartig. I was using MIG but they added 5 numbers after the decimal which messes up the round numbers.

any suggestions?

thanx
Hi Shomari,
I use FXDD for my MT4 charting package, seems to work ok. they are still 4 decimal.

--NM
  • #1,447
  • Dec 23, 2009 8:34am Dec 23, 2009 8:34am
Quoting rhodie
Thanks NM
Nice clear explanation.
I am looking for a tutorial on MT$ so I can write an expert to put up the ADR and range for day on screen along with the spread. Makes it easy to make an eval at any given point of time.
Will try to write it over the break.
HI rhodie,
I figured the video would clear that up somewhat. Having the spread show up would be helpful, I usually either open the market watch or just add the ask line to the chart that seems to help.

--NM
  • #1,448
  • Dec 23, 2009 8:43am Dec 23, 2009 8:43am
Quoting rhodie
Thanks NM
Nice clear explanation.
I am looking for a tutorial on MT$ so I can write an expert to put up the ADR and range for day on screen along with the spread. Makes it easy to make an eval at any given point of time.
Will try to write it over the break.
rhodie,
here is a link where you can get the ATR indicator that does show up in the upper left corner of your charts:

http://learnforexlive.com/intraday-targets.php

--NM
  • #1,449
  • Dec 23, 2009 8:53am Dec 23, 2009 8:53am
what time zone do you use for your charts? That will make a differents in the daily range.
Chris
  • #1,450
  • Edited 9:12am Dec 23, 2009 9:00am | Edited 9:12am
Quoting gctrading1
what time zone do you use for your charts? That will make a differents in the daily range.
I am in CST which means at 4:00pm the new trading day starts. It locks on to the brokers time zone, but at 4:00pm CST is where the new trading day begins.

--NM
  • #1,451
  • Dec 23, 2009 10:18am Dec 23, 2009 10:18am
HI Guys,
I thought I would post a chart of the AUDUSD 4hr, here is what I am seeing as far as S/R levels on the 4 hour anyway.
--NM
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 4hr support and resistance.gif Size: 28 KB
  • #1,452
  • Dec 23, 2009 10:28am Dec 23, 2009 10:28am
Quoting NightMoves
HI Guys,
I thought I would post a chart of the AUDUSD 4hr, here is what I am seeing as far as S/R levels on the 4 hour anyway.
--NM
thanks for the post. hm, I was actually thinking that 0.8810 was the S/R level, since that is the lowest low of the last swing. What do you think?

best regards
  • #1,453
  • Dec 23, 2009 10:35am Dec 23, 2009 10:35am
Quoting Custos
thanks for the post. hm, I was actually thinking that 0.8810 was the S/R level, since that is the lowest low of the last swing. What do you think?

best regards
Hi Custos,
Yes that is an area to watch, but as you know I base almost all of my trades around those RN areas so really any where in that area is going to be a good area to watch, which in the case of the RN that would be around .8800. I guess I use the RN more than normal but it keeps me going...

--NM
  • #1,454
  • Dec 23, 2009 10:37am Dec 23, 2009 10:37am
Quoting Custos
thanks for the post. hm, I was actually thinking that 0.8810 was the S/R level, since that is the lowest low of the last swing. What do you think?

best regards
Also if theis level that we are at now holds then the trend continues, but of we break this level then those areas I marked up are the areas I would be looking to see what happens.

--NM
  • #1,455
  • Dec 23, 2009 10:50am Dec 23, 2009 10:50am
Quoting NightMoves
Also if theis level that we are at now holds then the trend continues, but of we break this level then those areas I marked up are the areas I would be looking to see what happens.

--NM
okay thanks for your comments. I actually now also observe RNs for entries much more than I used to before. Kept me out of some unprofitable trades. Thanks for your insight concerning RNs!! Actually quite logical concept.
  • #1,456
  • Dec 23, 2009 11:05am Dec 23, 2009 11:05am
Quoting Custos
okay thanks for your comments. I actually now also observe RNs for entries much more than I used to before. Kept me out of some unprofitable trades. Thanks for your insight concerning RNs!! Actually quite logical concept.
I rely on RN's like some people rely on pivot points, and pivot points do seem to work but I like the RN's better, price always seems to react in someway when it gets there, and PA seems to gravitate from one to the next. I have used pivots too and they seem to be pretty reliable, but I still find myself trading RN's all the time and I have not looked a pivot level in over a year or so.

Here is a chart showing the daily pivots on the AUDUSD this is a 30 minute chart...so they do work I just dont really use them anymore...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 30 min pivot.gif Size: 28 KB
  • #1,457
  • Dec 23, 2009 11:13am Dec 23, 2009 11:13am
Quoting NightMoves
I rely on RN's like some people rely on pivot points, and pivot points do seem to work but I like the RN's better, price always seems to react in someway when it gets there, and PA seems to gravitate from one to the next. I have used pivots too and they seem to be pretty reliable, but I still find myself trading RN's all the time and I have not looked a pivot level in over a year or so.

Here is a chart showing the daily pivots on the AUDUSD this is a 30 minute chart...so they do work I just dont really use them anymore...

--NM
yeah, I think problem with pivots is that not everybody is using them, thus they are maybe not as reliable. But everybody can see the RN's, so these numbers hold much more validitiy.
  • #1,458
  • Dec 23, 2009 11:16am Dec 23, 2009 11:16am
Quoting Custos
yeah, I think problem with pivots is that not everybody is using them, thus they are maybe not as reliable. But everybody can see the RN's, so these numbers hold much more validitiy.
I totally agree with that, the RN's seem to be much more reliable. And most of the time to get to the next pivot it has to cross an RN anyway so I just use them for my intraday targets along with the ADR.

--NM
  • #1,459
  • Dec 23, 2009 6:41pm Dec 23, 2009 6:41pm
Merry christmas Everyone!!
  • #1,460
  • Dec 23, 2009 6:47pm Dec 23, 2009 6:47pm
Quoting NightMoves
Merry christmas Everyone!!
For you too NM!
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