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Trend Trading All Pairs

  • #1,621
  • Jan 6, 2010 8:48am Jan 6, 2010 8:48am
Quoting shomari
hey NM

If you have any insights on the above question I'd be greatful for your input.
Great thread NM,

thanx
shomari
Shomari,
For intraday trading session that owns the currency will normally be the big movers, for example, Yen, during the asian session, AUD during the Sydney session etc... The EUR,CAD,GBP,during the London and US sessions. Once in a while things will get messed up and some currencies will move more out of their session than normal. But usually the currency who's session is open is the one to move the most.

--NM
  • #1,622
  • Jan 6, 2010 9:23am Jan 6, 2010 9:23am
Quoting shomari
Custos
Do you trade 1 session, say london + 1/2 ny or ....
Do you basically stay "on-call" 24/7 with your alarms set ?
Yes, I put in my alarms on the retracement trendlines, and once they get broken my alarm goes off and I look at the chart and see if it triggers in the right session, otherwise I will ignore that signal.

Also, you want it to trigger in the first half of a session, the last half is also not very good, since most traders either are on lunch or already out of the office and the chart starts to get a little random.

My favorite session are asian and london session. I rarely get any valid trades triggered during the ny session.

I give you a good example of what I talk about with the last half of a session. Attached is a good setup on eur/cad, which has turned upside down to hit my stop loss and then move into the right direction once ny started. You would have entered at the blue vertical line, which is basically lunch time for london traders. At the red vertical line, I would have gotten stopped out just 15 min after the ny market opened only to turn into my initial direction. I didn't enter that trade, just because of the reason that I got the signal so late in london session and ny session didn't start yet.

I hope that makes sense
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad m15 6.1.2010.gif Size: 53 KB
  • #1,623
  • Jan 6, 2010 9:28am Jan 6, 2010 9:28am
Quoting Custos
Yes, I put in my alarms on the retracement trendlines, and once they get broken my alarm goes off and I look at the chart and see if it triggers in the right session, otherwise I will ignore that signal.

Also, you want it to trigger in the first half of a session, the last half is also not very good, since most traders either are on lunch or already out of the office and the chart starts to get a little random.

My favorite session are asian and london session. I rarely get any valid trades triggered during the ny session.

I give you a good example...
you always want a lot of traders and market volume behind you to push your trade into the right direction. Without market volume, you got no momentum and it's easy to hit your stop loss.
  • #1,624
  • Jan 6, 2010 9:33am Jan 6, 2010 9:33am
Hi,
what do you guys think of the gbp/jpy daily? It broke the blue d1 trendline to the upside and now testing it from above. As you see on H4 we alreaddy have a bpc. Just not sure if I should enter, the ATR for the day is already pretty much over. What do you think?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy d1 6.1.2010.gif Size: 51 KB
Click to Enlarge Name: gbpjpy h4 6.1.2010.gif Size: 57 KB
  • #1,625
  • Jan 6, 2010 9:48am Jan 6, 2010 9:48am
Quoting Custos
Hi,
what do you guys think of the gbp/jpy daily? It broke the blue d1 trendline to the upside and now testing it from above. As you see on H4 we alreaddy have a bpc. Just not sure if I should enter, the ATR for the day is already pretty much over. What do you think?
On the daily chart and the weekly chart that pair has been moving sideways with no real direction imo, I have been watching that pair hoping to get a break to the downside out of that channel but so far no luck.

I myself am not looking to take any trades to the long side on that pair until it gets itself a little more organized but that is just me.

--NM
  • #1,626
  • Jan 6, 2010 9:50am Jan 6, 2010 9:50am
Quoting NightMoves
On the daily chart and the weekly chart that pair has been moving sideways with no real direction imo, I have been watching that pair hoping to get a break to the downside out of that channel but so far no luck.

I myself am not looking to take any trades to the long side on that pair until it gets itself a little more organized but that is just me.

--NM
yeah, you are right. I better sit on the sidelines with that pair. Thanks for your comments. I was anyways not very fond of that setup.

best regards
  • #1,627
  • Jan 6, 2010 10:08am Jan 6, 2010 10:08am
Quoting Custos
yeah, you are right. I better sit on the sidelines with that pair. Thanks for your comments. I was anyways not very fond of that setup.

best regards
You never settle for second best always take the best ones, its your money and if the setup does not look like its worth the money then shop some more...

--NM
  • #1,628
  • Jan 6, 2010 10:18am Jan 6, 2010 10:18am
hi,NightMoves

do you close your open trades before the important news?
  • #1,629
  • Jan 6, 2010 10:26am Jan 6, 2010 10:26am
I see we are getting a breakout on the USDCAD on the hourly chart, ADR is pretty close for an intraday trade....

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Breakout.png Size: 32 KB
  • #1,630
  • Jan 6, 2010 10:30am Jan 6, 2010 10:30am
Quoting mana_
hi,NightMoves

do you close your open trades before the important news?
I do on the intraday trades, if I am trading longer term then the news does not really effect it that much unless it is really huge, but I think most of big news releases only run about 50 to maybe around 80 pip spike and if the news spike is not enough to test the 100 MA in most cases then ususally the trend is not changed from what I have seen over the last sever years of trading.

--NM
  • #1,631
  • Jan 6, 2010 10:32am Jan 6, 2010 10:32am
Quoting NightMoves
I see we are getting a breakout on the USDCAD on the hourly chart, ADR is pretty close for an intraday trade....

--NM
look at the usdcad weekly chart. Price is right at a huge support area. It should clear that level first before entering any short position.

best regards
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad w1 6.1.2010.gif Size: 45 KB
  • #1,632
  • Jan 6, 2010 10:34am Jan 6, 2010 10:34am
The AUDJPY is now testing some pretty strong resistance on the D1 and the W1 charts.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart Testing resistance.png Size: 33 KB
  • #1,633
  • Jan 6, 2010 10:37am Jan 6, 2010 10:37am
Quoting Custos
look at the usdcad weekly chart. Price is right at a huge support area. It should clear that level first before entering any short position.

best regards
Yes I have that marked on my chart as well, that is one of the reasons I did not take that trade, it is getting close. There are several pairs that are in that position and it will be interesting to see if they bounce or continue...

--NM
  • #1,634
  • Jan 6, 2010 11:18am Jan 6, 2010 11:18am
The E/A is another pair that is getting very close to major support levels, so becareful taking any short entries on this pair...at least for a while, the daily and weekly charts are showing some very strong support levels about to be tested again.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly Support Levels.png Size: 40 KB
  • #1,635
  • Jan 6, 2010 12:48pm Jan 6, 2010 12:48pm
These are the two pairs I am gonna watch for the asian session:
gbp/aud H1 move to the downside
chf/jpy H4 move to the upside

however, be careful on the gbp/aud, retail sales & trade balance are coming out for aud

best regards
  • #1,636
  • Jan 6, 2010 3:10pm Jan 6, 2010 3:10pm
Hi all,

I just found this thread and noticed a few people using Hector's charts. I thought I was the only one

I've been jumping around different threads lately trying out other method's whilst waiting for trades, but haven't found anything as fundamentally sound as Hector's trading methods.

I hope you don't mind if I join in the discussions.

Cheers,
  • #1,637
  • Edited 4:11pm Jan 6, 2010 4:10pm | Edited 4:11pm
I haven't read through the thread yet, just browsed quickly. I will read through the old posts so I don't ask or repeat subjects that have already been discussed. In the mean time I thought I would add an old trade plan summary I made some time back that may fit in well with some of the methods used here. I have a the detailed plan knocking around somewhere too. If anyone is interested in it after reading the summary, let me know and I will dig it out.

Attached File(s)
File Type: pdf Moxy - Trade Plan Summary_v2.pdf   325 KB | 1,300 downloads


Cheers,
  • #1,638
  • Jan 6, 2010 4:12pm Jan 6, 2010 4:12pm
Quoting Moxy_UK
I haven't read through the thread yet, just browsed quickly. I will read through the old posts so I don't ask or repeat subjects that have already been discussed. In the mean time I thought I would add an old trade plan summary I made some time back that may fit in well with some of the methods used here. I have the detailed plan knocking around somewhere. If anyone is interested in it after reading the summary, let me know and I will dig it out.

Attachment

Cheers,
Hi Moxy_UK,

Nice to have you aboard, there a few of us out here that use Hectors method, I have been using it for several years now and it just keeps working and working. So post away!

--NM
  • #1,639
  • Jan 6, 2010 4:31pm Jan 6, 2010 4:31pm
Hi Guys,
I thought I would post the AUDJPY weekly chart, it is in an area where it is either going to break or drop like a rock again.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Weekly Chart.png Size: 32 KB
  • #1,640
  • Jan 6, 2010 4:53pm Jan 6, 2010 4:53pm
Here is what I am showing as trending right now From M5 to D1. Red is a downtrend and Green is uptrend.

--NM
ps--Due to the 4 decimal places you will need to add the decimal to the ADR and CDR.
Attached Image (click to enlarge)
Click to Enlarge Name: Jan 6 2009.png Size: 48 KB
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