Trend Trading All Pairs | Page 103 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #2,041
  • Jan 14, 2010 8:40am Jan 14, 2010 8:40am
Quoting NightMoves
HI Moody,

Becareful with that pair, there is an inside trend line that is forming a triangle on the weekly chart and there is a weekly downtrend line in that same area, it am not sure I would let that pair run long if you do enter, unless it breaks that daily downtrend line.

Here is picture of the weekly chart.

--NM
And here is what the GBPUSD is looking like on the 1 hr chart...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd mess 1hr chart.gif Size: 25 KB
  • #2,042
  • Jan 14, 2010 9:02am Jan 14, 2010 9:02am
Here is the USDJPY daily chart, we have down trend on the weekly chart,
The retracement has bounced of the weekly down trend line, the daily chart fallen below the retracement line and has pulled back to retest the the weekly downtrend line, and so far it has respected that line. We might be looking at short entries again if that line holds.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy daily chart.gif Size: 26 KB
  • #2,043
  • Jan 14, 2010 9:13am Jan 14, 2010 9:13am
I thought I would post another chart, this is the USDCAD weekly chart, might be some good shorting opportunities just around the corner...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly.png Size: 35 KB
  • #2,044
  • Jan 14, 2010 9:20am Jan 14, 2010 9:20am
Keep an eye on that pair as well might be about ready for a big free fall.

--NM
  • #2,045
  • Jan 14, 2010 9:25am Jan 14, 2010 9:25am
I like aud/usd as well. Sitting right at a resistance area, possibly breaking out the next few days. But be aware, next high is at 0.9400 (possible next resistance)
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h4 14.1.2010.gif Size: 56 KB
  • #2,046
  • Jan 14, 2010 9:36am Jan 14, 2010 9:36am
Quoting Custos
I like aud/usd as well. Sitting right at a resistance area, possibly breaking out the next few days. But be aware, next high is at 0.9400 (possible next resistance)
Many of these pairs seem to be sitting at some pretty key levels right now...

--NM
  • #2,047
  • Jan 14, 2010 9:44am Jan 14, 2010 9:44am
on a different note, I always like to look at other pa strategies or to think of some and to play around with them (just on demo, until they prove profitable).

As you guys now probably know, I like pinbars and outside bars a lot, especially in trending situations.
I looked at james16 material and played around with that, but I always find the R:R to be very bad if you typically trade the pinbars exiting at the next minor S/R level.
Now I wanna try to combine trading pinbars with the method we use here, but this is just an experiment. Perfect example for what I am trying to accomplish is actually the gbp/cad daily pinbar I was talking about the last couple of posts. I would mark the low of that pinbar and the next minor resistance and then move to the H1 time-frame as my intraday-setup chart. When price breaks the low of the pinbar, I turn to the M15 trigger chart to wait for a bpc off that low with 1st target the next minor S/R level on the daily.
I know it probably sounds complicated, so I attached gbp/cad h1 chart. black line is how I would want price to behave.
I hope somebody gets what I try to accomplish here, haha.

I welcome any input on that.
Attached Image (click to enlarge)
Click to Enlarge Name: gbcad h1 14.1.2010.gif Size: 58 KB
  • #2,048
  • Jan 14, 2010 9:54am Jan 14, 2010 9:54am
Quoting Custos
on a different note, I always like to look at other pa strategies or to think of some and to play around with them (just on demo, until they prove profitable).

As you guys now probably know, I like pinbars and outside bars a lot, especially in trending situations.
I looked at james16 material and played around with that, but I always find the R:R to be very bad if you typically trade the pinbars exiting at the next minor S/R level.
Now I wanna try to combine trading pinbars with the method we use here, but this is just an experiment. Perfect...
It is worth a try on a demo and see how the pips stack up. I will trade pin bars but I have noticed like you said the R:R seems kind of high per the james16 thread method.

I have had good luck and bad luck with them so for me the jury is still out. But I guess by combinning the 2 methods like that it might be a way to incorporate in this, I guess there are really a lot of different ways to trade this market, and I would be interested to see the results of this experiment.

--NM
  • #2,049
  • Jan 14, 2010 10:01am Jan 14, 2010 10:01am
Quoting NightMoves
It is worth a try on a demo and see how the pips stack up. I will trade pin bars but I have noticed like you said the R:R seems kind of high per the james16 thread method.

I have had good luck and bad luck with them so for me the jury is still out. But I guess by combinning the 2 methods like that it might be a way to incorporate in this, I guess there are really a lot of different ways to trade this market, and I would be interested to see the results of this experiment.

--NM
okay, I will post some results, once I got some trades.
  • #2,050
  • Jan 14, 2010 10:01am Jan 14, 2010 10:01am
Custos ,

Understand what u're trying to do... could be interesting.

However, if u dun mind my 2cts worth -))

A candle pattern does not a trend make . Yes relative to candle placement it does show some juice however its too dodgy for me. I would rather not trade that way. Basically i guess is am waiting for day trends to establish so I rather be in later after pin bar guys have got in and out. -))

Chart patterns holds alot more true . It has for umpteen years. Many say they dun work but its how one trades it rite.

However, what i say may be moot as what u are testing may refer to trend within a trend trading -))
Anyway all nomenclature , and theres many ways to skin a cat.

Waiting for TP in $cad at 55 and TP in gbp at 55 also.
So have time to post.

Anyway Thanks for making this thread an enjoyable one . I dun post in forums . This is my first. But enjoying learning in here. Cheers
  • #2,051
  • Jan 14, 2010 10:36am Jan 14, 2010 10:36am
GBPUSD is really testing that resistance level, it may break it the way it is pounding on it....

--NM
  • #2,052
  • Jan 14, 2010 10:49am Jan 14, 2010 10:49am
Quoting Custos
okay, I will post some results, once I got some trades.
Custos,
Another big pin bar forming the AUDJPY daily might be good for a test.

--NM
  • #2,053
  • Jan 14, 2010 10:53am Jan 14, 2010 10:53am
Quoting NightMoves
Custos,
Another big pin bar forming the AUDJPY daily might be good for a test.

--NM
thanks, gonna keep track of that one.
  • #2,054
  • Jan 14, 2010 11:14am Jan 14, 2010 11:14am
Quoting NightMoves
Here is the USDJPY daily chart, we have down trend on the weekly chart,
The retracement has bounced of the weekly down trend line, the daily chart fallen below the retracement line and has pulled back to retest the the weekly downtrend line, and so far it has respected that line. We might be looking at short entries again if that line holds.

--NM
Hi NM, I was just writing the same words when you posted this! haha, anyway, I just wanna confirm if we have the same vision... We goy at this very moment a very nice breakout and pullback pattern in the 4H TF, so in theory, we just need to wait till the price reach to the previos breakout bar's low... so, Would you enter at this level (90.70)?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy1401104h.gif Size: 32 KB
  • #2,055
  • Jan 14, 2010 12:55pm Jan 14, 2010 12:55pm
Quoting lalink
Hi NM, I was just writing the same words when you posted this! haha, anyway, I just wanna confirm if we have the same vision... We goy at this very moment a very nice breakout and pullback pattern in the 4H TF, so in theory, we just need to wait till the price reach to the previos breakout bar's low... so, Would you enter at this level (90.70)?
Hi lalink,
I would wait for it to clear that lower break out bar, then I would wait for the pull back, now using your 4 hour chart as a setup you would be using the 1 hour chart or so for your trigger. And that is the chart you would be looking for the BPC on. The 4 hour chart is now your setup chart, and it has a very nice bounce of the S/R levels.

So now you draw your trend lines and such and then zoom in to the smaller TF trigger chart and look for the BPC on that chart. Playing off the
4 hour chart would really require your setup chart to be the daily chart.

Make sense?

--NM
  • #2,056
  • Jan 14, 2010 2:58pm Jan 14, 2010 2:58pm
Quick question for those who have been doing this for a while
What is the best time to start/end your trading session / day? I am retired so I can adjust my trading times to the most productive session(s).
Thanks for your input and GOOD TRADING!
  • #2,057
  • Jan 14, 2010 3:15pm Jan 14, 2010 3:15pm
First of all, my gbp/cad pinbar live trade triggered today, and I am already in 30 pips profit, waiting for a continuation down in the upcoming days (hopefully).

Secondly, I tried that combination of pinbar & this trade methodology for the first time now on demo on the same pair. It actually worked out, but a couple of reasons why I didn't like that trade.
1. Price didn't break out with real momentum. (normally, that is a condition, which makes me not entering a trade in the first place)
2. The price-action after the bpc was just horrible. waited around two hours for any momentum to come. (would have bailed out after a couple of bars)
3. The R:R was still negative (another reason I wouldn't have taken this trade).
Attached is the gbp/cad hourly setup chart.

Anyways, it did work out. And I still think there is a lot of validity for such pin-bars reaching the next small area of S/R
Attached Image (click to enlarge)
Click to Enlarge Name: gbcad h1 14.1.2010.gif Size: 60 KB
  • #2,058
  • Edited 3:29pm Jan 14, 2010 3:19pm | Edited 3:29pm
Quoting dpowli
Quick question for those who have been doing this for a while
What is the best time to start/end your trading session / day? I am retired so I can adjust my trading times to the most productive session(s).
Thanks for your input and GOOD TRADING!
HI dpowli,
I think the best time to trade this market is right at the start of London session, and then as that session overlaps with the US session is also good. So sll of the London session and the early part of the US session.

The Sydney and Asian session can be good if you trade thier currency. But that is only my opinion.

--NM
  • #2,059
  • Jan 14, 2010 3:22pm Jan 14, 2010 3:22pm
Quoting Custos
First of all, my gbp/cad pinbar live trade triggered today, and I am already in 30 pips profit, waiting for a continuation down in the upcoming days (hopefully).

Secondly, I tried that combination of pinbar & this trade methodology for the first time now on demo on the same pair. It actually worked out, but a couple of reasons why I didn't like that trade.
1. Price didn't break out with real momentum. (normally, that is a condition, which makes me not entering a trade in the first place)
2. The price-action after the bpc was just horrible. waited...
It will be intereting to see how this comes out at the end of say 10 trades or so, i do not know exactly what sample rate we need to give this a high or low mark but I would think about 10 trades would give an idea what do you think.

--NM
  • #2,060
  • Jan 14, 2010 3:29pm Jan 14, 2010 3:29pm
Quoting dpowli
Quick question for those who have been doing this for a while
What is the best time to start/end your trading session / day? I am retired so I can adjust my trading times to the most productive session(s).
Thanks for your input and GOOD TRADING!
I personally recommend you to trade intraday (hourly and 30 min chart) in the first half of asian and first half of london session, the best setups happen in those two. the ny session is unfortunately the worst of those three sessions.
Why only the first half? Cause the professional traders will go for lunch after the session and are pretty much done for the day, they put already most of their orders in.

Then I also recommend, as I did in previous posts, that you trade asian currency related pairs in the asian session and european currency related pairs in the london session.
aud, jpy, nzd crosses for the asian session,
eur, gbp, chf crosses for the london session
Reason being that london traders are mostly interested in the currencies and economies of europe and asian traders are mostly interested in the currencies and economies of asia.

hope that makes sense.

But you can simply test that by yourself. Take a few charts and look when they started to move during the day, then you get a feel which pair you should trade at which time. But I think the rules stated above are a pretty good guideline.

But that's just my opinion, as you see NM has different rules for that. Those things are kind of vague.

If you trade longer timeframes (4 hourly, daily, weekly), then it doesn't matter too much when you start your trading day day.
39 traders viewing now