Weekly Trend Trading Method | Page 27 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Fractal/Swing Trading Method With Trend 7 replies

bo7a method... method for GBP/JPY 205 replies

Pipster's S\R, Trend Trading Method 14 replies

Easy trend trading method 6 replies

Jacko's P&P Trend Trading Method 73 replies

Attachments: Weekly Trend Trading Method
Exit Attachments

Weekly Trend Trading Method

  • #521
  • Jan 25, 2010 10:42am Jan 25, 2010 10:42am
Here is a prime example of why we place Buy/Sell orders..

Price floated about 7-10 pips over the pivot, and was then rejected.

Your Sell Stop 30-50 pips below pivot would have never been opened.

This is why we ACKNOWLEDGE these levels!

Things MIGHT happen in our favor in these levels.

It was a potential set-up that fell through.

This will happen often. Just remember that patience thing Lg and I spoke of!
Attached Image (click to enlarge)
Click to Enlarge Name: zooted usdcad h4 reject 1-25-10.gif Size: 20 KB
  • #522
  • Jan 25, 2010 11:28am Jan 25, 2010 11:28am
Quoting Mrezoot
Here is a prime example of why we place Buy/Sell orders..

Price floated about 7-10 pips over the pivot, and was then rejected.

Your Sell Stop 30-50 pips below pivot would have never been opened.

This is why we ACKNOWLEDGE these levels!

Things MIGHT happen in our favor in these levels.

It was a potential set-up that fell through.

This will happen often. Just remember that patience thing Lg and I spoke of!
Mrezoot looking at the USDCAD 4 hour chart with the older RSI (rather than your version) it looks rather overbought, it has been over the 70 level since Wednesday. Of course this does not mean that it can not break to the upside.....but from looking at charts it seems that often a currency will need to come down a bit before it breaks up

I am new to this thread so obviously take my comments with a "grain of salt" so to speak.

I am studying all this trying to figure out about re-entering a trade.
(I don't have any clear ideas yet)
  • #523
  • Jan 25, 2010 11:46am Jan 25, 2010 11:46am
Quoting pgpb
Mrezoot looking at the USDCAD 4 hour chart with the older RSI (rather than your version) it looks rather overbought, it has been over the 70 level since Wednesday. Of course this does not mean that it can not break to the upside.....but from looking at charts it seems that often a currency will need to come down a bit before it breaks up

I am new to this thread so obviously take my comments with a "grain of salt" so to speak.

I am studying all this trying to figure out about re-entering a trade.
(I don't have any clear ideas yet)
Good observation on the RSI Pgpb.

While the price did shoot back up over the downward resistance line, it did not remain over it for long.

I would for sure keep an eye on this chart!

Peeking @ the H1 it seems to be losing its steam in the 1.058-1.060 range.

Last nights little bump up could very well be the common attempt at correction you speak of Pgpb!

We will see how this set-up unfolds today!

Thank you for your participation Pgbp, your inquires will only help others!
  • #524
  • Edited 1:31pm Jan 25, 2010 1:30pm | Edited 1:31pm
This is for those of you who have been running my "Zooted-Lgtj" templates.

I unfortunately did not catch this signal, was working in the studio.

GBP/JPY H1 "Zooted" chart.

Price came back up to S1, pump faked about 30-40 pips (Pgbp), then continued on up.

If the signal WAS taken you would be lookin @ about 35-50 pips bagged as of now, depending on your choice of entry.

With an active pair like GBP/JPY, this is about where I would be looking to cut for a profit.

On my GBP/JPY H1 I like to keep my TP's set around 50-60 pips.

This amount is easily obtainable w/ the usual P.A. of this pair, but BEWARE, this pair is called "The BEAST" for a reason!

NEVER GET GREEDY W/ GBPJPY!

As fast as it gave you 60, it will take 120.

This IMHO is the most risky pair I watch. Which is why I went w/ only H1 TF. To keep my TP/SL's smaller. (Risk)

Just goes to show that sometimes even w/ a system that seems slow @ times... one can still slip by ya!

So did anybody else notice/catch this.......if so.... brag!
Attached Image (click to enlarge)
Click to Enlarge Name: zooted gbpjpy h1 missed 1-25-10.gif Size: 21 KB
  • #525
  • Jan 25, 2010 7:57pm Jan 25, 2010 7:57pm
Lets keep an eye on this one!

We should follow the same rules as last night and wait to see reaction to pivot and upper resistance.

All we can do is wait....
Attached Image (click to enlarge)
Click to Enlarge Name: zooted usdcad 2nd try.gif Size: 19 KB
  • #526
  • Jan 25, 2010 11:32pm Jan 25, 2010 11:32pm
Quoting Mrezoot
This is for those of you who have been running my "Zooted-Lgtj" templates.

I unfortunately did not catch this signal, was working in the studio.

GBP/JPY H1 "Zooted" chart.....

Just goes to show that sometimes even w/ a system that seems slow @ times... one can still slip by ya!

So did anybody else notice/catch this.......if so.... brag!
Just an update on the signal I missed earlier this afternoon.

If you would have been present @ signal, I would have recommended to place a Buy Stop about 15-25 pips above the "Dot" signal bars HIGH.

With this method, you would have already hit your 50% TP and come only about 5 pips short of your TP1 @ 100pips. You might have chosen to cut it being THAT close, (90ish pips) and with the tendencies of this pair!

IF I HAD caught this signal, I would have cut half (1/2) of my lot(s) size @ the 50% TP. (BANKED)

When 50% TP is reached, I then move the remaining half (1/2) lot(s) SL to breakeven.

If / When price is approaching the TP1 level (around 15-25 pips away), I will then move the remaining lot(s) SL to the 50% TP level. (BANKED)

This secures @ least my 50% TP level for BOTH halves of my chosen lot size.

This little technique has proved to be VERY helpful to me in securing profits, and not letting the market take them back!

I hope that the pic will help answer some questions about placing your TP/SL levels.

Again, I only use the Fibo tool set-up as provided by Lgtj in post #20

Taking this signal would have been a pretty nice pop.... hope somebody got it....
Attached Image (click to enlarge)
Click to Enlarge Name: zooted gbpjpy missed (2) 1-25-10.gif Size: 23 KB
  • #527
  • Jan 25, 2010 11:51pm Jan 25, 2010 11:51pm
Quoting Mrezoot
Lets keep an eye on this one!

We should follow the same rules as last night and wait to see reaction to pivot and upper resistance.

All we can do is wait....
Not seeing much of any changes since the H4 screen before....

Not quite the case on the H1 if you drop down.

On this TF you can see that price is having a little bickering match between the Pivot, downward-trendline, and 50 SMA.

Which will win?

We do however on the H1 have 3 of 4 indi's confirming a SHORT call. (In our favor)

Since this pair has had so much trouble with this area, we must not jump the gun w/ only 3 of 4 indis confirming. We will have to wait until we have a clear reaction of price to the Pivot and 50 SMA.

Still keep an eye out.... :nerd: for a BREAK OUT!
Attached Image (click to enlarge)
Click to Enlarge Name: zooted usdcad h1.gif Size: 19 KB
  • #528
  • Jan 26, 2010 1:51am Jan 26, 2010 1:51am
Quoting Mrezoot
On this TF (H1) you can see that price is having a little bickering match between the Pivot, downward-trendline, and 50 SMA.

Which will win?
Well before I closed the station tonite, did one last check on USDCAD....

Looks like for the moment, Pivot and SMA whooped up on that poor trend line.

This pushed the price up over 1.06160 (A 30 day high).

A strong BULL rally seems to be over due for the USDCAD, however, we still have what seems like fairly strong downward momentum on the Daily and Weekly charts. :nerd:

Now a little feedback if you do not mind.......

What is YOUR opinion of this pair, as of now?

Could you also please validate your opinions w/ a chart or at least a quick summary of the analysis
(Fundamental / Technical) you used to draw this conclusion?

Look forward to hearing logic for BOTH sides of this trade! (Buy/Sell)

Have a Good Night Guys!
Attached Image (click to enlarge)
Click to Enlarge Name: zooted h1 usdcad(2).gif Size: 24 KB
  • #529
  • Jan 26, 2010 3:16am Jan 26, 2010 3:16am
i claim to b no charting wiz:nerd: but i still have 830 mins in my day before i can tell you forsure if this is going to be a bull rally!!...there is a strong resistance line that PA has been obeying for 10 weeks... gonna b hard to break, but if it does u can bet il have a buystop inline...
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad bull.gif Size: 29 KB
  • #530
  • Jan 26, 2010 3:59am Jan 26, 2010 3:59am
I encourage others to post some of their screens this week. This might also help some of the new followers, to see some other colored screens and templates.

Were here to learn..... So don't be afraid to ask ANYTHING!




well zoot here ya go... i woulda posted some screens earlier but i had a headache that kept me away from my screen... sorry for the delay. but anyways i have been using the sonic system as i have told you previously, and here i have added a lil of my sys. w a lil of your sys.... i hope adding this doesnt anger the tread of its direction...

i woke up kinda late for this trade but was able to pick up on retrace...
Attached Image (click to enlarge)
Click to Enlarge Name: sonic strat+(no)brain.gif Size: 30 KB
  • #531
  • Jan 26, 2010 9:37am Jan 26, 2010 9:37am
New to the thread, at least new to posting, but have been following for a little while since I stumbled on this and so far I am impressed and excited about the potential. Thanks to LGTJ for starting and sharing and also MREZoot for building and continuing and looking forward to contributing and learning!

I am placing demo trades and mostly up...a few challenges with s&R lines but that will come with practice.

One (simple) question I had was when you placing the daily trade, you need to check the the trend of the weekly trend, right? If correct, what doyou take into consideration to confirm the weekly trend - is it the slope, or trend lines?

Thanks

Magou
  • #532
  • Jan 26, 2010 11:11am Jan 26, 2010 11:11am
Quoting magou
New to the thread, at least new to posting, but have been following for a little while since I stumbled on this and so far I am impressed and excited about the potential. Thanks to LGTJ for starting and sharing and also MREZoot...
Hello magou and welcome to this thread. The trend line on the weekly chart confirms the trend. If you have any more questions, feel free to post them.
  • #533
  • Jan 26, 2010 11:53am Jan 26, 2010 11:53am
good morning...

decided to go back to the old mac d and try it, but noticing it likes to mach the alter trend signal or vise versa depending on how you wanna look at it. personally i am looking for less indicators and IMHO that alter trend looks so MUCH cleaner, just wondering was there any reason to still keep mac d?





duglas
Attached Image (click to enlarge)
Click to Enlarge Name: macd alt trend.gif Size: 23 KB
  • #534
  • Jan 26, 2010 12:06pm Jan 26, 2010 12:06pm
Quoting DuGGieFX
good morning...

decided to go back to the old mac d and try it, but noticing it likes to mach the alter trend signal or vise versa depending on how you wanna look at it. personally i am looking for less indicators and IMHO that alter trend looks so MUCH cleaner, just wondering was there any reason to still keep mac d?





duglas
I like to use the macd because it shows you when price breaks resistance and support whenever the macd bars go above and below the signal line. It's a wonderful tool if you know how to use it.
  • #535
  • Jan 26, 2010 12:09pm Jan 26, 2010 12:09pm
Quoting DuGGieFX
well zoot here ya go... i woulda posted some screens earlier but i had a headache that kept me away from my screen... sorry for the delay. but anyways i have been using the sonic system as i have told you previously, and here i have added a lil of my sys. w a lil of your sys.... i hope adding this doesnt anger the tread of its direction...
I think that everyone here is open-minded enough to view and compare screens and set-ups... You never know what you might end up liking?

A little bit of color never hurt anybody! LOL!

This is quite an interesting layout I must say! I have not had time to view very much of Sonic's "R" thread, but I recognize it as one of the more trusted and followed lower TF scalping systems!
(To boot, Sonic carries himself like a true gentleman and does a stand up job keeping his thread on track!)

Quick question DuggieFX? What Pair and TF was this screen shot of? (Think OHLC's off?)

This way myself and others can compare your view, with whats going on in thier charts. A little A-B comparing.

I believe this is how people find what they truly like... experimentation.

A nice chart non-the-less DuggieFX thank you again for your participation!
  • #536
  • Jan 26, 2010 12:18pm Jan 26, 2010 12:18pm
Quick question DuggieFX? What Pair and TF was this screen shot of? (Think OHLC's off?)

zoot, i believe the screen you were referring to was the AUDUSD 1H chart....





duggie
  • #537
  • Jan 26, 2010 12:22pm Jan 26, 2010 12:22pm
Quoting DuGGieFX
i believe zoot, you were refering to my USDCAD and it was on a daily chart..


duggie
Don't think that were speaking of the same chart DuggieFX?

USDCAD is @ 1.06088

You screen shows a price of 1.40948

Just curious?
  • #538
  • Jan 26, 2010 12:40pm Jan 26, 2010 12:40pm


So you have now told me the TF and Pair for every chart of yours, EXCEPT the one I was originally inquiring for...

I now have post #529 and #533 .... how about #530

in a chipper mood today and just givin ya a hard time!

THANK YOU FOR YOUR TIME DuGGieFX!
  • #539
  • Jan 26, 2010 12:49pm Jan 26, 2010 12:49pm
omg lmao


its been a long night duglas!! sorry bub, that is the eurusd on 1h final answer.lmao







dugg
  • #540
  • Jan 26, 2010 12:53pm Jan 26, 2010 12:53pm


Now I can really start looking @ what it is that you've shown!

Thank you for your time and input DuGGie!

Now it sounds like you need to go get some sleep before lookin @ anymore charts!
0 traders viewing now