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Trend Trading All Pairs

  • #1,481
  • Dec 28, 2009 6:17am Dec 28, 2009 6:17am
Quoting coolshades
NM,

what are those MAs on your charts and how do you use them?

thks
Hi Coolshades,
Those MA lines are the 3o, 50 and 100 SMA (on the close), they are used to help identify a trending market, and to help you determine the health and condition of the trend.. Price should to be harmonically swinging back to around the 30 and 50 MA with each retracement, or near that area anyway.

You can tell the strength and condition by how deep the retracements are digging into the MA lines, PA may start swinging back to the 30MA for a few swings, then into the 50, then into the 100 meaning it may be losing momentum. Or if it does not come any near the MA's then perhaps it may have to much momentum and it could snap back with the same kind of momentum.

They are not used a crossover system, in fact you do not want to see them crossing each other. They can really tell you alot about the trend itself. I use them all the time.

--NM
  • #1,482
  • Dec 28, 2009 6:36am Dec 28, 2009 6:36am
HI Guys,
Just remember we are in the last week of December and PA may not always follow normal protocal this last week, so what would normally be a vailid setup and what would normally be normal targets such as the ADR or normal price pattern projections depending on how you are setting your targets, may not be reached.

I am not trading this week at all because of that reason. So becareful as price may just meander around this week like a homeless trader...

--NM
  • #1,483
  • Edited 7:11am Dec 28, 2009 6:59am | Edited 7:11am
I wanted to post this trend on different TF kind of explaining the MA again, Looking for a trend and determining the trend is pretty easy actually, this is the E/U pair showing the trend on the 4 hr TF, but PA is not swinging back into the the MA area, but when you switch TF and look at the 1 hr TF you can see it swinging back into the area, so really you would be using the 1hr TF as your setup chart in this case.

I am showing the 4 hr, 1hr and 30min TF as a reference, so just check the different TF's and see which one looks the best.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Different TF same pair.png Size: 173 KB
  • #1,484
  • Edited 7:10am Dec 28, 2009 7:06am | Edited 7:10am
Trend is reversing in 5 at 131.9.... beware....
  • #1,485
  • Dec 28, 2009 7:35am Dec 28, 2009 7:35am
EURJPY still looking strong for more upside. Significant support evident on chart around the previous resistance area of 131.75
  • #1,486
  • Dec 28, 2009 7:43am Dec 28, 2009 7:43am
Quoting Musashi
EURJPY still looking strong for more upside. Significant support evident on chart around the previous resistance area of 131.75
I think had this been a normal week that would have rifled right up there.

--NM
  • #1,487
  • Dec 28, 2009 7:45am Dec 28, 2009 7:45am
Quoting NightMoves
I think had this been a normal week that would have rifled right up there.

--NM
Yes I tend to agree on that. Not a good week to be trading as you suggested.
  • #1,488
  • Dec 28, 2009 7:50am Dec 28, 2009 7:50am
USDCAD just broke to the downside on the H1 also.

It could not break past the intraday previous support at around 1.0465, could be a bit of a move here also.
  • #1,489
  • Dec 28, 2009 7:51am Dec 28, 2009 7:51am
Looks like the USDCAD is playing with the idea of heading further south...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD PLaying with the idea.png Size: 28 KB
  • #1,490
  • Dec 28, 2009 7:53am Dec 28, 2009 7:53am
Quoting NightMoves
Looks like the USDCAD is playing with the idea of heading further south...

--NM
canada is on holiday today. So I would be very cautious to trade anything cad related.
  • #1,491
  • Dec 28, 2009 7:57am Dec 28, 2009 7:57am
Quoting Custos
canada is on holiday today. So I would be very cautious to trade anything cad related.
I would be very cautious about trading anything today, for me it is just a good day to watch and see what develops.

--NM
  • #1,492
  • Dec 28, 2009 7:58am Dec 28, 2009 7:58am
New lows are almost always a good thing with this sort of trading.

But yea this time of year is not that good for intraday trading that's for sure.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 131 KB
  • #1,493
  • Dec 28, 2009 8:03am Dec 28, 2009 8:03am
Quoting Musashi
New lows are almost always a good thing with this sort of trading.

But yea this time of year is not that good for intraday trading that's for sure.
Well if it does decide to go, that could end up being a really nice big move before it hits any real support...

--NM
  • #1,494
  • Dec 28, 2009 8:07am Dec 28, 2009 8:07am
Quoting NightMoves
Well if it does decide to go, that could end up being a really nice big move before it hits any real support...

--NM
Well I can't sit here and watch this slow boring market all night. Need to get some sleep.

Fingers crossed I wake up to some profit.
  • #1,495
  • Dec 28, 2009 8:10am Dec 28, 2009 8:10am
Quoting Musashi
Well I can't sit here and watch this slow boring market all night. Need to get some sleep.

Fingers crossed I wake up to some profit.
Good luck! You may wake up a millionaire!

--NM
  • #1,496
  • Dec 28, 2009 8:20am Dec 28, 2009 8:20am
Here is the USDCAD daily chart.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD daily Support Level.png Size: 40 KB
  • #1,497
  • Dec 28, 2009 8:34am Dec 28, 2009 8:34am
Quoting NightMoves
Here is the USDCAD daily chart.

--NM
god, all cad pairs breaking out. a shame that this happens today. But I stick to the rules and not trade during holidays.
  • #1,498
  • Dec 28, 2009 8:36am Dec 28, 2009 8:36am
Quoting Custos
god, all cad pairs breaking out. a shame that this happens today. But I stick to the rules and not trade during holidays.
I know what you mean, I am watching them too. I just do not trust everything I see this week. So I will let them go by there will more opportunities in a less risky situation.

--NM
  • #1,499
  • Dec 28, 2009 8:39am Dec 28, 2009 8:39am
Quoting Musashi
EURJPY still looking strong for more upside. Significant support evident on chart around the previous resistance area of 131.75
musashi, if you are still in your eurjpy trade, I would get out now, a lot of indecision bars on the h1. Now it's just a gamble if it goes up or down.

best regards
  • #1,500
  • Dec 28, 2009 8:40am Dec 28, 2009 8:40am
Quoting NightMoves
I know what you mean, I am watching them too. I just do not trust everything I see this week. So I will let them go by there will more opportunities in a less risky situation.

--NM
very true, waiting till we get quality trades again!
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