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Trend Trading All Pairs

  • #1,761
  • Jan 10, 2010 11:51am Jan 10, 2010 11:51am
Quoting NightMoves
You could go that route as well the trend line is the same on both charts, and with the daily inside candle it could easily continue up or it may reverse and continue the down trend. I have my alarms set in both directions on that pair.

--NM
anyway how do we read PA on the inside candle. it can break either side? means if it break above the inside bar means it will break up further?
i not very sure on this

imo i think daily inside bar is quite a strong reversal candle. but we have to wait and confirm with the PA
  • #1,762
  • Jan 10, 2010 12:00pm Jan 10, 2010 12:00pm
Quoting ja5on
anyway how do we read PA on the inside candle. it can break either side? i think daily inside bar is quite a strong reversal candle. but we have to wait and confirm with the PA
The inside candles is totally different way of taking a trade. I use that method if the inside candle forms at a major S/R level like it has done and I only use the daily candle for that not on the smaller time frames. They do not form often at these levels but when they do they seem to work pretty good.

Also I will still need a break below the trend line and a pullback for confirmation, but the inside candle technique does work really well I have had good success with it on the larger TF's.

You basically wait for a break below or above the previous candle which is called the mother candle, and in a trending market say in an uptrend a break above that candle would trigger the entry, But we are so close to the daily trendline and an RN at the level I would wait for a break above that level and of course the BPC.

--NM

--NM
  • #1,763
  • Jan 10, 2010 12:01pm Jan 10, 2010 12:01pm
Quoting ja5on
anyway how do we read PA on the inside candle. it can break either side? means if it break above the inside bar means it will break up further?
i not very sure on this

imo i think daily inside bar is quite a strong reversal candle. but we have to wait and confirm with the PA
I personally would wait till it breaks first the blue retracement trendline and then the blue horizontal S/R level and wait for a bpc of that S/R level. However, since we are on the daily, that might not happen this week.

You could also play the inside bar. Put an entry below the inside bar, but then be sure you take off 50% at around 91.25 (last low) and put your stop to B/E. But I guess playing the inside bar here is a bit riskier than waiting for the blue horizontal S/R line to get breached.
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  • #1,764
  • Jan 10, 2010 12:03pm Jan 10, 2010 12:03pm
Quoting NightMoves
The inside candles is totally different way of taking a trade. I use that method if the inside candle forms at a major S/R level like it has done and I only use the daily candle for that not on the smaller time frames. They do not form often at these levels but when they do they seem to work pretty good.

Also I will still need a break below the trend line and a pullback for confirmation, but the inside candle technique does work really well I have had good success with it on the larger TF's.

You basically wait for a break below or above the...
also an interesting technique. Which kind of candles do you trade usually?
  • #1,765
  • Jan 10, 2010 12:08pm Jan 10, 2010 12:08pm
Quoting Custos
I personally would wait till it breaks first the blue retracement trendline and then the blue horizontal S/R level and wait for a bpc of that S/R level. However, since we are on the daily, that might not happen this week.

You could also play the inside bar. Put an entry below the inside bar, but then be sure you take off 50% at around 91.25 (last low) and put your stop to B/E. But I guess playing the inside bar here is a bit riskier than waiting for the blue horizontal S/R line to get breached.
I have my alarm set at 92.180 for the down play. from there I will watch the PA and see what it does.

--NM
  • #1,766
  • Jan 10, 2010 12:12pm Jan 10, 2010 12:12pm
Quoting Custos
also an interesting technique. Which kind of candles do you trade usually?
I usually only trade the inside candle like you are seeing, but I trade pins as well as long they form around the MAJOR S/R levels. If I get none of those candles then I just wait for the normal trade setup.

--NM
  • #1,767
  • Jan 10, 2010 12:35pm Jan 10, 2010 12:35pm
Quoting NightMoves
The inside candles is totally different way of taking a trade. I use that method if the inside candle forms at a major S/R level like it has done and I only use the daily candle for that not on the smaller time frames. They do not form often at these levels but when they do they seem to work pretty good.

Also I will still need a break below the trend line and a pullback for confirmation, but the inside candle technique does work really well I have had good success with it on the larger TF's.

You basically wait for a break below or above the...
NightMoves...thanks for the great info! Could you be so kind as to translate for a noobie? TF I take it is "time frame"...RN I believe is "round number"...S/R is obviously "support/resistance" ....but I'm stumped on BPC? Is it break previous candle?
  • #1,768
  • Jan 10, 2010 1:26pm Jan 10, 2010 1:26pm
Quoting Pip Dawg
Hey guys I'm a noobie to this thread but I'm having some encouraging success with the system. I'm demo trading now until I gain a confidence with entry/exits. I have had some really good trades. My trading success over the years has been sporadic at best.

Am I analyzing this chart correctly and do I see an entry at the 85.48 level if it holds on the open?

Thanks for the great thread and advice!


http://www.biggerbids.com/members/im...screenshot.jpg

Hi Pipdawg,
Yes it looks good but really until the market gets moving I would wait a little bit on that pair. The beginning of the day can be a little sporadic at best.

--NM
  • #1,769
  • Jan 10, 2010 1:38pm Jan 10, 2010 1:38pm
Quoting Pip Dawg
NightMoves...thanks for the great info! Could you be so kind as to translate for a noobie? TF I take it is "time frame"...RN I believe is "round number"...S/R is obviously "support/resistance" ....but I'm stumped on BPC? Is it break previous candle?
Hi Pip Dawg,
The BPC is "Breakout-Pullback-and Continuation. Always wait for that to happen because when it does happen it may not stop, if it stops and does not take out the orignal aspect # 1 then you wait for it clear aspect #2 and then you enter the trade, the 1-2-3 formation is what we are looking for.

--NM
  • #1,770
  • Jan 10, 2010 1:45pm Jan 10, 2010 1:45pm
Quoting Pip Dawg
NightMoves...thanks for the great info! Could you be so kind as to translate for a noobie? TF I take it is "time frame"...RN I believe is "round number"...S/R is obviously "support/resistance" ....but I'm stumped on BPC? Is it break previous candle?
Pip dawg,
Here is an example of the BPC or the 1-2-3 formation, part of the 1-2-3 must clear the trend line at some point.

Hope this helps clear it up for you.

--NM
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  • #1,771
  • Jan 10, 2010 4:25pm Jan 10, 2010 4:25pm
Quoting NightMoves
Pip dawg,
Here is an example of the BPC or the 1-2-3 formation, part of the 1-2-3 must clear the trend line at some point.

Hope this helps clear it up for you.

--NM
NightMoves.....yes that makes plenty sense...thanks so much for the help! I think I'm getting the hang of it. Finding the setups and being patient enough to wait for them to mature is a challenge for me.

Sometimes it seems that I'm not there at the right time to enter or I miss them.
Other than being in front of the screen all the time how do you overcome this? What time of day do you usually spend time trading?
  • #1,772
  • Jan 10, 2010 7:20pm Jan 10, 2010 7:20pm
Quoting Pip Dawg
NightMoves.....yes that makes plenty sense...thanks so much for the help! I think I'm getting the hang of it. Finding the setups and being patient enough to wait for them to mature is a challenge for me.

Sometimes it seems that I'm not there at the right time to enter or I miss them.
Other than being in front of the screen all the time how do you overcome this? What time of day do you usually spend time trading?
What I do is set the alarms for the price you are waiting for. I have several alarms set right now. Then you only have to wait and listen for the alarm to go off rather than sit in front of the computer.

--NM
  • #1,773
  • Jan 10, 2010 7:25pm Jan 10, 2010 7:25pm
Quoting Pip Dawg
NightMoves.....yes that makes plenty sense...thanks so much for the help! I think I'm getting the hang of it. Finding the setups and being patient enough to wait for them to mature is a challenge for me.

Sometimes it seems that I'm not there at the right time to enter or I miss them.
Other than being in front of the screen all the time how do you overcome this? What time of day do you usually spend time trading?
I like to trade the London session, if there are good setups like there is now and they do not get completely setup and get going before the London session then i will get up for it.

I have caught some very nice moves during the first couple of hours in that session.

--NM
  • #1,774
  • Jan 10, 2010 8:58pm Jan 10, 2010 8:58pm
Quoting NightMoves
I like to trade the London session, if there are good setups like there is now and they do not get completely setup and get going before the London session then i will get up for it.

I have caught some very nice moves during the first couple of hours in that session.

--NM
I have a challenge in that I work a 7-4 job. It makes it difficult to trade at night which I would like very much. I have the privacy and the time to do some trades at work but I'm having trouble getting a data feed behind the firewall at my job...very frustrating. I have been using MB Trading for a few years now and I may have to change in order to get a web based platform.

Any suggestions?
  • #1,775
  • Jan 11, 2010 12:54am Jan 11, 2010 12:54am
Patience and validity .... key to trade this approach

May i suggest going longer term ie: daily and H4 set ups -))

I trade fulltime but only trade those TF s primarily. This approach here just keeps me "occupied" during the day as I sit on positions .
  • #1,776
  • Jan 11, 2010 1:14am Jan 11, 2010 1:14am
EUR/USD broke to the upside on the daily. Hope to see some continuation moves on the lower time-frames the next few days.
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  • #1,777
  • Jan 11, 2010 1:16am Jan 11, 2010 1:16am
I am new to FX trading and learning daily, care to assist me in learning more about trading, would appreciated, thanks
  • #1,778
  • Jan 11, 2010 1:55am Jan 11, 2010 1:55am
Anyone watching EURAUD for a break to the downside?

It has been trending nicely on H1 and hasn't approached the 100 line yet and the recent 50 breach didn't last long. If the first target is the last swing low at 5517 then there's enough there for a 1:2 RR. In terms of confluence of S/R I have:

50% fib of last move down
H1 trendline
Monthly S2 pivot
Horizontal SR from recent basing action
RN just above

Any comments please?...I am new to this.
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  • #1,779
  • Jan 11, 2010 2:18am Jan 11, 2010 2:18am
Quoting Sutts
Anyone watching EURAUD for a break to the downside?

It has been trending nicely on H1 and hasn't approached the 100 line yet and the recent 50 breach didn't last long. If the first target is the last swing low at 5517 then there's enough there for a 1:2 RR. In terms of confluence of S/R I have:

50% fib of last move down
H1 trendline
Monthly S2 pivot
Horizontal SR from recent basing action
RN just above

Any comments please?...I am new to this.
You would be selling against support. Attached is the eur/aud weekly chart. I would wait until it clears that support level.

best regards
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  • #1,780
  • Jan 11, 2010 2:40am Jan 11, 2010 2:40am
I watched what I thought was a flag develop this morning on the GBPUSD M30/H1 and sure enough it broke to the upside. I was searching for a BPC to help me get in on the action but the only one seemed to be on the M15/M5 with a top of 6137 and a base of 6089.

I'm new to continuation patterns and was wondering if those of you who use them regularly would consider this setup worth taking? Is the stop too large or the trend too young? With an initial target of the last major high at 6242, this would produce a 1:2 RR with the 50 pip stop.

Any advice would be much appreciated.
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