DislikedYes, but I can trade the MXN/JPY......it's a matter of zooming out. Volume dictates the size, time frame, and stop size. I hear what you are saying, but there is a way. Sometimes I will post a trade if I get a set up.
Of course, that proposed legislation may not get enacted. lol. (as if.)
But until that time comes - it's neither here nor there.
I know that a lot of UK/Canadian brokers can't be bothered with Americans already, and I can't think of too many countries I would be placing my money in, so if it really comes down to that -...Ignored
- #6,781
- Jan 19, 2010 7:12pm Jan 19, 2010 7:12pm
- Joined May 2009 | Status: step into liquid | 3,460 Posts
- #6,782
- Jan 19, 2010 7:51pm Jan 19, 2010 7:51pm
- Joined Aug 2009 | Status: mmmm....beer.... | 963 Posts
BTW - the CHF/JPY is the classic box trading set up, for those of you playing the home game.
When I first started box trading, it was CHF/JPY and USD/CAD were the inspiration for it.
The arrow above points to a second chance entry on a daily pin, i believe your entry was a bit earlier, but still about 150-200pips to the good. Just curious if you are still riding this one.
-SL
- #6,785
- Edited 1:49am Jan 20, 2010 12:57am | Edited 1:49am
May I offer my prespective on this setup?
I rarely pay attention to daily setups lately, and since I found a 8h pinbar on the lower timeframe of NZDCHF which I was late to enter due to sleep, I skipped it, and then I saw chris posting his charts, and I reviewed the daily on NZDCHF.
I moved to the weekly TF to look for the weekly trend, and it was up IMO, also this pair has a positive swap on long positions making it very attractive to buy, the daily pin is at an important area on my charts, I don't do trendlines very much though.
The 7700-7800 area is a thick zone on this pair, but nzd pairs has a knack of finding support on the 50s, too... like the previous high that stopped on 7665, or maybe just following the 50% fib ret from the last big drop, thus putting us on a downtrend really, and all this 2009 movements was just a retracement
I have failed miserably on CT trades in the past and don't intend to trade this pair short, to say the least, it's a personal thing or trauma maybe.
But I'll try with a minimum position size though.
Hope it helps someone, helps me the most
EDIT : Since no one has replied yet, I'd like to add something.
From my point of view of defining a trend, NZDCHF is currently on an uptrend, BUT if I pull a trendline from the weekly highs, I have found that we have broken the descending trendline and the last Daily pin is just a movement to retrace to the last trendlines cross...
I may have to re-read this whole thread, but I'd like to ask chris how he look to define a trend, the weekly trend to be exact, I know he plot trendlines from weekly charts, but doing that, it's still not clear to me what the trend is on NZDCHF (but my opinion is up) and for example, GBPUSD that has been consolidating for a few months now, my opinion in GBPUSD is also uptrend.
Thanks a lot.
I rarely pay attention to daily setups lately, and since I found a 8h pinbar on the lower timeframe of NZDCHF which I was late to enter due to sleep, I skipped it, and then I saw chris posting his charts, and I reviewed the daily on NZDCHF.
I moved to the weekly TF to look for the weekly trend, and it was up IMO, also this pair has a positive swap on long positions making it very attractive to buy, the daily pin is at an important area on my charts, I don't do trendlines very much though.
The 7700-7800 area is a thick zone on this pair, but nzd pairs has a knack of finding support on the 50s, too... like the previous high that stopped on 7665, or maybe just following the 50% fib ret from the last big drop, thus putting us on a downtrend really, and all this 2009 movements was just a retracement
I have failed miserably on CT trades in the past and don't intend to trade this pair short, to say the least, it's a personal thing or trauma maybe.
But I'll try with a minimum position size though.
Hope it helps someone, helps me the most
EDIT : Since no one has replied yet, I'd like to add something.
From my point of view of defining a trend, NZDCHF is currently on an uptrend, BUT if I pull a trendline from the weekly highs, I have found that we have broken the descending trendline and the last Daily pin is just a movement to retrace to the last trendlines cross...
I may have to re-read this whole thread, but I'd like to ask chris how he look to define a trend, the weekly trend to be exact, I know he plot trendlines from weekly charts, but doing that, it's still not clear to me what the trend is on NZDCHF (but my opinion is up) and for example, GBPUSD that has been consolidating for a few months now, my opinion in GBPUSD is also uptrend.
Thanks a lot.
- #6,791
- Jan 20, 2010 10:33am Jan 20, 2010 10:33am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
See this chart, I believe it shows all you really need to know about this pair.
First Thanks for the vouch
The thing i don't understand Aud and Nzd And euro dropping front of us$
I enjoy that
hope all of you guys enjoy it.But why G/U still up there!! 1.63
- #6,795
- Jan 20, 2010 11:03am Jan 20, 2010 11:03am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
Anyone still in this? I know Chris is still in (since yesterday at least). Patience pays, doesn't it?
Kulu
- #6,796
- Jan 20, 2010 11:20am Jan 20, 2010 11:20am
- | Commercial User | Joined May 2007 | 7,685 Posts
Me but i trade long term
- #6,799
- Jan 20, 2010 3:41pm Jan 20, 2010 3:41pm
- | Joined Apr 2009 | Status: temporarily correct | 1,757 Posts
