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Trend Trading All Pairs

  • #1,541
  • Jan 2, 2010 12:03pm Jan 2, 2010 12:03pm
Hi NM

I　thanks for starting this thread and sharing your wonderful earned knowledge with us.

Thank you

You make me understand the overwhelming importance of the act of
prise action and of formations on chart and following torend

Thank you

Happy new year
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  • #1,542
  • Jan 2, 2010 2:50pm Jan 2, 2010 2:50pm
I added some pairs to yours, which in my opinion will also show great potential this or in the upcoming weeks.
I see aud/usd differently. On D1 it is ready for breaking to the downside, but of course only time will tell what aud/usd will do.

best regards
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  • #1,543
  • Jan 2, 2010 4:27pm Jan 2, 2010 4:27pm
Quoting Custos
I added some pairs to yours, which in my opinion will also show great potential this or in the upcoming weeks.
I see aud/usd differently. On D1 it is ready for breaking to the downside, but of course only time will tell what aud/usd will do.

best regards
Several of these pairs are getting very near longer term S/R. The AUDUSD pair is about ready I think to make turn to the down side that may last a while, so I am watching that one very close if it does break to the down side that may be one I might take a long term position on.

Right now the A/U is on a short term uptrend that I think will end within the next day or so and then the long term down trend that the short term uptrend is about to crash into will probably resume again. But again it is just my opinion but the monthly chart and weekly charts are showing downward momentum. And that is what I am going to be watching for.

Several pairs are showing similar setups so it will be an interesting week for sure.

--NM
  • #1,544
  • Jan 2, 2010 4:36pm Jan 2, 2010 4:36pm
Quoting Custos
I added some pairs to yours, which in my opinion will also show great potential this or in the upcoming weeks.
I see aud/usd differently. On D1 it is ready for breaking to the downside, but of course only time will tell what aud/usd will do.

best regards
The AUDUSD Weekly chart. This is the one that I may take as a long term trade if the signal follows through.
Attached Image (click to enlarge)
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  • #1,545
  • Jan 2, 2010 8:46pm Jan 2, 2010 8:46pm
anyway. do u guys take pairs that have spread more than 5? do u think its worth? for my platform. the GY pair has a spread of 8 which i tot was quite huge for me to take trades. =(
  • #1,546
  • Jan 3, 2010 1:33am Jan 3, 2010 1:33am
Quoting ja5on
anyway. do u guys take pairs that have spread more than 5? do u think its worth? for my platform. the GY pair has a spread of 8 which i tot was quite huge for me to take trades. =(
I always want a risk reward ratio of at least 1:1.5. Just incorporate the spread into your risk reward calculation. Let's say for a trade on gy you enter long at 150.30 and would have a stop at 150.00, you have a risk of 30 pips + 8 pips spread, which is 38 pips in total. Now, look at your targets. If let's say the target is 100 pips away, you for sure have a much higher risk reward ratio than 1:1.5, thus it becomes a valid trading opportunity.

Hope that helps

(and yes, I do trade pairs even with 15 pips spread if my risk reward is above 1:1.5)
  • #1,547
  • Jan 3, 2010 6:24am Jan 3, 2010 6:24am
Quoting kenichi
Hi NM

I　thanks for starting this thread and sharing your wonderful earned knowledge with us.

Thank you

You make me understand the overwhelming importance of the act of
prise action and of formations on chart and following torend

Thank you

Happy new year
HI Kenichi,
I am glad that we were able to help, we have some good traders on this thread and we have some realatively new traders that have picked this method up and are doing a good job of using it as everyone on here is helping the next guy see the different set ups and some very good explanations of what they are looking at and I think that helps many of the traders out here.

Each trader in this thread brings a different skillset to the table and with all these skillsets that everyone is bringing in here everyone has a chance of learning different techniques in reading PA.

This method is all about PA and selling resistance and buying support in trending markets and the more one learns through the experience of screen time and by practicing(prefferably on a demo account) then the better one gets.

No one is born with the ability to trade, they are all taught how to do it and really anyone can learn how to do it. PA is going to be the best way to learn, when I first started that is not how I learned it, and I stopped trading for about 6 months and learned how to do it because the normal indicators were just not reliable enough for me, however price action does not lie and it is not lagging.

So stop in here often as many of the trades we take we post so everyone can see what we did and why we did it. So there is quite a bit of live trading on this thread and I think that helps.

--NM
  • #1,548
  • Jan 3, 2010 6:35am Jan 3, 2010 6:35am
Quoting ja5on
anyway. do u guys take pairs that have spread more than 5? do u think its worth? for my platform. the GY pair has a spread of 8 which i tot was quite huge for me to take trades. =(
Hi ja5on,
As Custos has mentioned just keep an eye on your R:R, I do not like to trades that have pip spreads that large, but if the R:R is in line then it is up to the individual trader.

There are some pairs out there where pip spread is quite large, however if you trade those pairs during their session the spread will come down somewhat. I have noticed that the E/A pair has normally around a 7 to 9 pip spread most of the time, but watch the spread when to the 2 session overlap it comes down to a manageble level of around 6 to 7 which 7 is my max regardless of the R:R, I just feel that I do not need that trade bad enough to spend more than I need to.

--NM
  • #1,549
  • Jan 3, 2010 6:51am Jan 3, 2010 6:51am
Quoting NightMoves
Hi ja5on,
As Custos has mentioned just keep an eye on your R:R, I do not like to trades that have pip spreads that large, but if the R:R is in line then it is up to the individual trader.

There are some pairs out there where pip spread is quite large, however if you trade those pairs during their session the spread will come down somewhat. I have noticed that the E/A pair has normally around a 7 to 9 pip spread most of the time, but watch the spread when to the 2 session overlap it comes down to a manageble level of around 6 to 7 which 7 is my...
The A/E was a bad anology but you get the idea its like buying strawberries in season and out of season the spread will be lower during the currencies session you are trading and according to volatility of the market, I have seen the E/U spread as high as 6 pips during news releases and it is normally between 1 and 3,...

Now get this I took a trade on the E/U pair when my trading station had the spread at -.5 so I took the trade as the setup looked good. Well after I got in the trade no matter what direction it seemed to go I was not losing any pips so of course that is not right. SO I knew I was up about 50 pips or so but the station had me way over that so I had to call the broker and find out what was going on, they were completely shocked at what I got in for and they gave it to me anyway even though they paid me to take the trade. They said it was a glitch but they would honer it at that level. I wont mention the broker but that kind of honesty from them has kept me there.

--NM
  • #1,550
  • Jan 3, 2010 10:35am Jan 3, 2010 10:35am
My positions are:
EUARAUD, D1: Bearish
USDJPY, D1: Bullish
AUDJPY, D1: Bullish
EURGBP: Bullish
EURUSD: Bearish
GBPUSD: BEARISH
Start buying in the London market ..... wait for news from AUSTRALIA and Ben Bernanke's comments ....
  • #1,551
  • Jan 3, 2010 4:38pm Jan 3, 2010 4:38pm
Quoting dacosvan
My positions are:
EUARAUD, D1: Bearish
USDJPY, D1: Bullish
AUDJPY, D1: Bullish
EURGBP: Bullish
EURUSD: Bearish
GBPUSD: BEARISH
Start buying in the London market ..... wait for news from AUSTRALIA and Ben Bernanke's comments ....
Hi, I want to ask you what makes you bearish on gbp/usd and bullish on usd/jpy & eur/gbp?
Attached is the weekly gbp/usd, showing that that pair is ranging around, and has no bias in my opinion.
Eur/gbp daily chart is in a triangle and price moving tighter and tighter.
and usd/jpy is banging against a long-term W1 down trendline.

Until price shows its true colors (breaking out of their ranges or trendlines) on those pairs, I would stay neutral (which means I would not trade them).

But I would be very interested how you have analyzed those 3 pairs and came to the conclusion that they have a bias.

best regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd w1 3.1.2010.gif Size: 45 KB
Click to Enlarge Name: eurgbp d1 3.1.2010.gif Size: 46 KB
Click to Enlarge Name: usdjpy w1 3.1.2010.gif Size: 50 KB
  • #1,552
  • Jan 3, 2010 4:50pm Jan 3, 2010 4:50pm
Quoting Custos
Hi, I want to ask you what makes you bearish on gbp/usd and bullish on usd/jpy & eur/gbp?
Attached is the weekly gbp/usd, showing that that pair is ranging around, and has no bias in my opinion.
Eur/gbp daily chart is in a triangle and price moving tighter and tighter.
and usd/jpy is banging against a long-term W1 down trendline.

Until price shows its true colors (breaking out of their ranges or trendlines) on those pairs, I would stay neutral (which means I would not trade them).

But I would be very interested how you have analyzed those...
I was trying to figure that out too...I am not sure how he came to that conclusion?

--NM
  • #1,553
  • Jan 3, 2010 4:54pm Jan 3, 2010 4:54pm
Quoting NightMoves
I was trying to figure that out too...I am not sure how he came to that conclusion?

--NM
good that you are also not sure. I already thought I missed something, haha
  • #1,554
  • Jan 3, 2010 5:06pm Jan 3, 2010 5:06pm
Quoting Custos
good that you are also not sure. I already thought I missed something, haha
Your seeing the same thing I am....the way it looks on your charts

--NM
  • #1,555
  • Jan 4, 2010 4:30am Jan 4, 2010 4:30am
There was a nice opportunity earlier today on gbp/jpy. Unfortunately I was not awake by then. But it would have been a nice trade.

Attached is the gbp/jpy M15 chart (trigger chart).
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  • #1,556
  • Jan 4, 2010 4:31am Jan 4, 2010 4:31am
setups i am watching
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.png Size: 105 KB
Click to Enlarge Name: eugbp.png Size: 111 KB
Chris
  • #1,557
  • Jan 4, 2010 4:40am Jan 4, 2010 4:40am
Quoting gctrading1
setups i am watching
yes, I think AUD/USD is going to have a good chance in US or Asian session for a further move up.

However, pay attention on eur/gbp. Price is moving against a big D1 support line at around 0.8840. I would wait till price cleared that level, but I am a very conservative trader.

best regards
  • #1,558
  • Jan 4, 2010 4:46am Jan 4, 2010 4:46am
Quoting Custos
yes, I think AUD/USD is going to have a good chance in US or Asian session for a further move up.

However, pay attention on eur/gbp. Price is moving against a big D1 support line at around 0.8840. I would wait till price cleared that level, but I am a very conservative trader.

best regards
sorry D1? Day?
Chris
  • #1,559
  • Jan 4, 2010 4:49am Jan 4, 2010 4:49am
Quoting gctrading1
sorry D1? Day?
Yes, I mean daily, attached is the eur/gbp daily for reference.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp d1 4.1.2010.gif Size: 44 KB
  • #1,560
  • Jan 4, 2010 4:49am Jan 4, 2010 4:49am
i have support at .8833 on daily
Attached Image (click to enlarge)
Click to Enlarge Name: eugbp.png Size: 96 KB
Chris
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