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Trend Trading All Pairs

  • #2,001
  • Jan 13, 2010 9:59am Jan 13, 2010 9:59am
Quoting jonjon
LOL may not happen NM ...

U know what i did with my eur... i bolted out the door at 4510.

Think many getting spooked tonite... waiting is my trade now -))

Taking heat in my balance aud but stop not hit.

Just got off the horn with oil traders and they wanna be short .
I have not seen anything I like in the EU, but that is very interesting, the Looney Yen I was watching did finally get a pullback but if course it did not stop. I was hoping for a run to Support levels but the Looney is not even going to make it that far. I did not take the trade becaue of no BPC but thats ok too because like I said the pullback never stopped.

Custos was watching the 88.30 level as support but it never even got that far so waiting for the BPC has worked again.

--NM

--NM
  • #2,002
  • Jan 13, 2010 10:05am Jan 13, 2010 10:05am
just took my first trade according to the trend trading system.

i got in at 91.31 with a tight sl at 91.53 and tp 90.81.

Not sure if I got i all right but lets call it a learning curve.


comments welcome :-)
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It's my price or no price at all!
  • #2,003
  • Jan 13, 2010 10:12am Jan 13, 2010 10:12am
Quoting 4extool
just took my first trade according to the trend trading system.

i got in at 91.31 with a tight sl at 91.53 and tp 90.81.

Not sure if I got i all right but lets call it a learning curve.


comments welcome :-)
I am not exactly sure where you seen the entry signal, I pulled that chart up and I did not see an entry on that pair yet. It did slightly break the TL but the pulback never stopped.

Where did you see the entry signal?

--NM
  • #2,004
  • Jan 13, 2010 10:20am Jan 13, 2010 10:20am
Quoting 4extool
just took my first trade according to the trend trading system.

i got in at 91.31 with a tight sl at 91.53 and tp 90.81.

Not sure if I got i all right but lets call it a learning curve.


comments welcome :-)
Here is an example of what you would be looking for on that pair...

--NM
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  • #2,005
  • Jan 13, 2010 10:25am Jan 13, 2010 10:25am
Quoting NightMoves
I am not exactly sure where you seen the entry signal, I pulled that chart up and I did not see an entry on that pair yet. It did slightly break the TL but the pulback never stopped.

Where did you see the entry signal?

--NM

Very good point...for you there musnt have been one. Since i'm not familiar with the entry signals of this system i'm using the ones ive been using till now. In other words i trade into the current flow an try to get an early entry.

Because i got distracted here i missed my entry point which would have been the open of the new candle of the retracement to the 50% fib

Normally I have sls of 15+/- with tp of 45+
It's my price or no price at all!
  • #2,006
  • Jan 13, 2010 10:25am Jan 13, 2010 10:25am
Custos

Like your top down approach. Very enlightening.

The eurgbp left the station in a hurry. M thinking when the 8850 is tested it would be interesting then .
  • #2,007
  • Jan 13, 2010 10:27am Jan 13, 2010 10:27am
Quoting NightMoves
Here is an example of what you would be looking for on that pair...

--NM
makes sense what you say.

I think i need to read up on entry levels. any documentation in this thread
about that?
It's my price or no price at all!
  • #2,008
  • Jan 13, 2010 10:34am Jan 13, 2010 10:34am
Quoting 4extool
makes sense what you say.

I think i need to read up on entry levels. any documentation in this thread
about that?
Yes there are quite a few of the earlier posts that cover this topic in detail. If you still have questions after looking at those posts let me know I can help you with it. It is a pretty simple method once you get used to it.

--NM
  • #2,009
  • Jan 13, 2010 10:38am Jan 13, 2010 10:38am
Quoting 4extool
makes sense what you say.

I think i need to read up on entry levels. any documentation in this thread
about that?
This gives an example of the entry and SL placement:
http://www.forexfactory.com/attachme...d=389685&d=Jan 10, 2010 1:43pm

--NM
  • #2,010
  • Jan 13, 2010 10:48am Jan 13, 2010 10:48am
Looks like the CADJPY is landlocked between S/R levels right now...

--NM
  • #2,011
  • Jan 13, 2010 11:29am Jan 13, 2010 11:29am
Quoting jonjon
Custos

Like your top down approach. Very enlightening.

The eurgbp left the station in a hurry. M thinking when the 8850 is tested it would be interesting then .
thanks, just trying to help.

eurgbp, again, look at the weekly. What do you see? I just see bars going up, down, up, down, up, down... couldn't be ranging anymore than that. So, that one would be a risky pair to trade for the moment. Wait till it breaks out of the huge monthly/weekly triangle (green lines).

Unfortunately, a lot of pairs are just ranging around right now on the higher time-frames. I know this requires a lot of patience.
But the quality of trades is just tremendously better, if you let price break out of those huge ranges. Then you will get all market participants, the long-term investors and short-term traders, the banks, funds and all other market participants joining in on longs/shorts.
At least that's my opinion, but I could be wrong of course.
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  • #2,012
  • Jan 13, 2010 11:54am Jan 13, 2010 11:54am
god, such a nice pinbar on the gbp/cad daily forming. That one shows that the trendline is holding and still strong. However, I am a little worried that it overshot the 61.8% by such a big amount.
Anyways, I think it's worth a shot and still gonna put on a small position once that pinbar breaks to the downside.
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  • #2,013
  • Jan 13, 2010 12:00pm Jan 13, 2010 12:00pm
Quoting Custos
god, such a nice pinbar on the gbp/cad daily forming. That one shows that the trendline is holding and still strong. However, I am a little worried that it overshot the 61.8% by such a big amount.
Anyways, I think it's worth a shot and still gonna put on a small position once that pinbar breaks to the downside.
Kind of hard not to take that.

--NM
  • #2,014
  • Jan 13, 2010 12:41pm Jan 13, 2010 12:41pm
NM and Custos - thanks for reply to my last post.
Do you recommend pinbar SL near extreme of pinbar or do you find 50% level of the pinbar a better choice?
  • #2,015
  • Jan 13, 2010 12:43pm Jan 13, 2010 12:43pm
am already in on this, off a divergence on h4

Quoting Custos
god, such a nice pinbar on the gbp/cad daily forming. That one shows that the trendline is holding and still strong. However, I am a little worried that it overshot the 61.8% by such a big amount.
Anyways, I think it's worth a shot and still gonna put on a small position once that pinbar breaks to the downside.
  • #2,016
  • Jan 13, 2010 3:35pm Jan 13, 2010 3:35pm
Quoting dpowli
NM and Custos - thanks for reply to my last post.
Do you recommend pinbar SL near extreme of pinbar or do you find 50% level of the pinbar a better choice?
I personally put the stop behind 61.8 fib. Just draw a fib only on that bar and put your stop behind that area. I just think if it goes any further back up, then the setup was anyways not good in the first place.

But you can also put it behind the whole bar.

I am still gonna take my gbp/cad trade, since I believe the trend will continue, but please watch the 1.6690 area. Price formed an S/R level on the H4 there. If anybody is thinking of entering the same trade, either take off some of your postion there, or move your stop to b/e. That area is quite strong on that time-frame, thus it might make price shoot up again. Better be safe than sorry.
  • #2,017
  • Edited 7:27pm Jan 13, 2010 4:10pm | Edited 7:27pm
Thanks Custos - will do.
Did you mean to set BE at 166.90 or 1.6710? I assume 1.6710?
  • #2,018
  • Jan 13, 2010 7:33pm Jan 13, 2010 7:33pm
worth watching
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Chris
  • #2,019
  • Jan 13, 2010 8:22pm Jan 13, 2010 8:22pm
Quoting gctrading1
worth watching
Hi gc,
I have that pair in my sites as well!

--NM
  • #2,020
  • Jan 14, 2010 12:17am Jan 14, 2010 12:17am
$cad H4 set up triggered on H1 at 1.0322 short NY time
Half locked in at 1.0300 bal. riding for possible 1.0250 zone

stop 1.0408 moved to 1.0395

Aud worked out squared out bal half at 0.9296 +59


Watching for any credit risk rmrs or comments or issues ... shld be a catalyst for jpy -))
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