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Trend Trading All Pairs

  • #1,881
  • Jan 12, 2010 4:12am Jan 12, 2010 4:12am
Quoting Sutts
Is anyone considering taking the EU daily setup with the BPC on the H4 with an entry around 1.4450? It bounced off some key daily resistance and the monthly pivot and was almost in the fib zone.

Thanks
it's a good setup I think, but be aware that you are entering against the trend here. I prefer to only take trades in direction of the trend, just puts the odds in my favor.

But, if you are more aggressive, then it's definitely worth a shot.
  • #1,882
  • Jan 12, 2010 4:22am Jan 12, 2010 4:22am
Quoting Sutts
Seems to be a possible H1 short setup for EUR/CHF, although the recent higher low is a worry. M15 BPC forming against H4 resistance and Monthly S1. Too high risk???

Also USD/CAD short setup on H4 with BPC forming on H1.
usd/cad is sitting right on daily support. Wouldn't take a trade against higher time-frame support.

eur/chf looks to me like a triangle. Honestly, even if that triangle broke to the downside, I wouldn't trade that one. But that's a personal thing I have with the eur/chf. It normally doesn't show a lot of momentum, only moves 65 pips a day, and each time I enter into a trade on eur/chf you can be sure that I will get stopped out in that pair, haha.
Also, we are almost having lunch time for the london traders. would leave it alone for today. Maybe tomorrow at the london open it will move to the downside again.
Attached Image (click to enlarge)
Click to Enlarge Name: euchf h4 12.1.2010.gif Size: 60 KB
  • #1,883
  • Jan 12, 2010 4:33am Jan 12, 2010 4:33am
Thanks for your help Custos, I'm much clearer now on the entry options.

Will you avoid all EU short trades until the Monthly charts turn down?

Cheers,

Dave
  • #1,884
  • Jan 12, 2010 4:34am Jan 12, 2010 4:34am
Quoting jonjon
Custos,

Thanks for the excellent explanation on the eu trade. M learning -))

As mentioned yesterday I was long. Took Half off at 1.4545 +51 pips
Reached 59 high, still riding balance.

M seeing eur $ range now 1ith 4450-4550 type.

Since i trade this off my day chart on my trend set up I will sit for days unless i get taken out
No TP set as I see probable trend trade set up as opposed to trend within a trend.
I do give it a few days allowance to unfold.
good to hear that, if you don't use targets, I just would make sure that you trail your stop somehow.

Besides that, if we look at our e/u hourly setup chart now, a BPC is forming right there, and I think it could follow through, especially when ny starts. But the R:R is too low for me to take the trade (would risk more than I gain, so I am just gonna watch it)
  • #1,885
  • Jan 12, 2010 4:37am Jan 12, 2010 4:37am
Quoting Sutts
Thanks for your help Custos, I'm much clearer now on the entry options.

Will you avoid all EU short trades until the Monthly charts turn down?

Cheers,

Dave
I would wait till we break 1.42 (last swing low on the daily), then search for short trades again, right now I just look for long trades on e/u.
  • #1,886
  • Jan 12, 2010 5:07am Jan 12, 2010 5:07am
Yup appreciate it Custos .... good advise

i trade manage everyday ... yes i trail stops but i also add positions
If am long I keep buying vise versa -))

So if break the 4550 will watch for set ups between 4550-4600 for adding .
If higher then still add.
Basically M a trend trader not really a trend within a trend trader.
So for lack of a better word... using this H approach to trade trend within trend.

$jpy m sitting on shorts from 92.13 no TP yet.


Anyone watching the kiwi$ day TF BPC ? -))
  • #1,887
  • Jan 12, 2010 6:40am Jan 12, 2010 6:40am
Quoting Custos
I would wait till we break 1.42 (last swing low on the daily), then search for short trades again, right now I just look for long trades on e/u.
OK, thanks Custos.

Cheers,

Dave
  • #1,888
  • Jan 12, 2010 7:04am Jan 12, 2010 7:04am
nzdusd - isnt that trending long?

Quoting jonjon
Yup appreciate it Custos .... good advise

i trade manage everyday ... yes i trail stops but i also add positions
If am long I keep buying vise versa -))

So if break the 4550 will watch for set ups between 4550-4600 for adding .
If higher then still add.
Basically M a trend trader not really a trend within a trend trader.
So for lack of a better word... using this H approach to trade trend within trend.

$jpy m sitting on shorts from 92.13 no TP yet.


Anyone watching the kiwi$ day TF BPC ? -))
  • #1,889
  • Jan 12, 2010 7:41am Jan 12, 2010 7:41am
Yup coolshades looks that way to me.

Not exactly the rite timezone to do anything on it but I've been long.
Just noticed it showed the set up as discussed ... thot i mention it -))


Just took half of $jpy short at 40 . Sitting on the rest . +73 pips

M trying to merge my trend trading with trend within a trend so....still learning
  • #1,890
  • Jan 12, 2010 7:41am Jan 12, 2010 7:41am
Quoting jonjon
Yup appreciate it Custos .... good advise

i trade manage everyday ... yes i trail stops but i also add positions
If am long I keep buying vise versa -))

So if break the 4550 will watch for set ups between 4550-4600 for adding .
If higher then still add.
Basically M a trend trader not really a trend within a trend trader.
So for lack of a better word... using this H approach to trade trend within trend.

$jpy m sitting on shorts from 92.13 no TP yet.


Anyone watching the kiwi$ day TF BPC ? -))
could you post a chart for the nzd/usd?
  • #1,891
  • Jan 12, 2010 7:57am Jan 12, 2010 7:57am
HI guys looks like we might be seeing a reversal here. This is the 1 hour chart. Kind of a sloppy HnS possibly.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Sloppy HnS.png Size: 80 KB
  • #1,892
  • Jan 12, 2010 8:18am Jan 12, 2010 8:18am
Here Custos nzd day
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.gif Size: 23 KB
  • #1,893
  • Jan 12, 2010 8:19am Jan 12, 2010 8:19am
Thanks NM for the heads up on audjpy


Jpy strength causing some volatility today in the crosses -))
  • #1,894
  • Jan 12, 2010 8:32am Jan 12, 2010 8:32am
Quoting Big1red9
NM,

Your a good person,
I still find how you run this thread to be very refreshing. Your putting a lot of time into it and it is appreciated.

Thank you,
BR
You're right...I think that NightMoves is a good person. I can see my trades start to improve only after a week or so. Great thread and cudos to NightMoves!
  • #1,895
  • Jan 12, 2010 8:42am Jan 12, 2010 8:42am
am unable to figure out if this is bpc on the uptrend or downtrend and am not able to reach any conclusion!

Quoting jonjon
Here Custos nzd day
  • #1,896
  • Jan 12, 2010 8:48am Jan 12, 2010 8:48am
Quoting Pip Dawg
You're right...I think that NightMoves is a good person. I can see my trades start to improve only after a week or so. Great thread and cudos to NightMoves!
Thanks for the kind words guys, Custos and many others have contributed quite a bit to this thread as well, we have some very good people on this thread and no one is trying to show how much they know or dont know just traders helping traders is what this thread is all about and so far I think it has been a success.

We have some pretty regular people showing up and sounds like they are taking some pretty sound trades. And I hope it continues on. I have learned a lot from some of the people on here even though I normally only trade this way it is nice to see the input of others because they may see things a little different and perhaps what one person might miss the other sees.

Thanks Guys!!

--NM
  • #1,897
  • Jan 12, 2010 8:52am Jan 12, 2010 8:52am
If u look at indicators ur jury may still be out -))
However if u look at price and price action a clue may be gleemed. -))

Oh well thats what makes a market .... give a pic to 5 pple and they see 5 diff things. Dosen't that make trading so much more fullfilling ? LOL

Oh well key is being on the right side more often than not ...

M still a rookie so just sharing...

Wat do u see coolshades ?
  • #1,898
  • Jan 12, 2010 8:52am Jan 12, 2010 8:52am
Morning,

What are the typical TF's that are used to scan for pairs?

Does not appear to be many options for long term trends. I have found a couple using weekly data, but without studying it, I would guess the stop on those are quite high because of bar range.

On the other end, I have found a few that are turning using 4 hr data.

Thanks for the input,

BR
  • #1,899
  • Jan 12, 2010 9:16am Jan 12, 2010 9:16am
Quoting Big1red9
Morning,

What are the typical TF's that are used to scan for pairs?

Does not appear to be many options for long term trends. I have found a couple using weekly data, but without studying it, I would guess the stop on those are quite high because of bar range.

On the other end, I have found a few that are turning using 4 hr data.

Thanks for the input,

BR
I've been using the 1H to scan for trend and the 15 min for the trigger chart. I've also been checking the longer term charts for S/R levels and trend info. I've had some decent trades so far over the last week or so.
  • #1,900
  • Jan 12, 2010 9:19am Jan 12, 2010 9:19am
Question for anyone out there.....

Do you guys typically run the Fibs on the longer term charts or will you use them on the shorter time frames like the trigger chart as well. I'm currently using the longer term charts to run my Fibs.
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