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Trend Trading All Pairs

  • #2,821
  • Feb 1, 2010 11:03am Feb 1, 2010 11:03am
Quoting Chris P
No PA on my charts at the moment. Have you got a chart with what you're looking at?
ON USD/SGD?

yEAH. BELOW:
http://www.forexfactory.com/attachme...1&d=1265043769
  • #2,822
  • Feb 1, 2010 11:07am Feb 1, 2010 11:07am
Quoting Pip Dawg
Right on brother...if I can just make small steps I'm happy with that.

By the way...my first attempt with a shorter term time frame is really sucking balls right now.
hEY, it may still turn around...you never know. best of luck.
  • #2,823
  • Feb 1, 2010 11:33am Feb 1, 2010 11:33am
Quoting finswin56
I see the 61.8 Fib as a nearly perfect confluence with former support (off by one pip). I'll bet you that if Custos was trading this morning he took that short on the touch.
If we get the BPC, I would really like the trade.
haha, yeah, I actually put a limit order on at this level. But I am so busy this week, and since I can't be in front of the screen this week, I only put on a very very small position. But nonetheless was a profit.
Till friday I probably won't post much, just reading through some posts at night. So, wish you good trading this week...

best regards
  • #2,824
  • Feb 1, 2010 11:41am Feb 1, 2010 11:41am
EUR/NZD. DAILY/H4. with a BPC under the 1.9650 RN. Of course, there is the red-labeled news of Labour cost index coming out for NZD. that needs to be kept an eye on. If it breaks, i expect s/r at 1.9500
  • #2,825
  • Feb 1, 2010 11:42am Feb 1, 2010 11:42am
Quoting EntropyLad
Hmmm.. MR. PIP DAWG .i wont take that trade. I will wait for a break of that round number, a pullback that test and fail at that RN, then a continuation....
Yes...you are very, very correct. I closed it out when it was not doing anything but had I held it I think I would have lost about 30 pips. Next time I wait. Since I've been using Hectors method I've had much greater success with the longer times frames....less stress too. I think I will stick with longer time frames and forget about the 5 min...at least for now.
  • #2,826
  • Feb 1, 2010 10:02pm Feb 1, 2010 10:02pm
The AUD interest rate made some noise didnt it....

--NM
  • #2,827
  • Feb 2, 2010 1:52am Feb 2, 2010 1:52am
I'm now into charter 3 of Hector Trading. Pretty good stuff. Looking at charts this morning. Not much out there that looks inviting.
  • #2,828
  • Feb 2, 2010 2:30am Feb 2, 2010 2:30am
Anyone else in this today?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf 1h 020210.gif Size: 27 KB
Click to Enlarge Name: gbpchf 15min 020210.gif Size: 18 KB
  • #2,829
  • Feb 2, 2010 2:47am Feb 2, 2010 2:47am
Quoting Custos
haha, yeah, I actually put a limit order on at this level. But I am so busy this week, and since I can't be in front of the screen this week, I only put on a very very small position. But nonetheless was a profit.
Till friday I probably won't post much, just reading through some posts at night. So, wish you good trading this week...

best regards
I'm just jealous I didn't see it earlier.
  • #2,830
  • Feb 2, 2010 3:00am Feb 2, 2010 3:00am
Any thoughts on Cable?
The Resistance I see is the gap close from last week. price has tested it several times and come down through the TL making a BPC. I'm looking to sell a deeper pullback. 1H setup. 15M trigger is posted.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-0B.png Size: 52 KB
  • #2,831
  • Feb 2, 2010 3:26am Feb 2, 2010 3:26am
Quoting finswin56
Any thoughts on Cable?
The Resistance I see is the gap close from last week. price has tested it several times and come down through the TL making a BPC. I'm looking to sell a deeper pullback. 1H setup. 15M trigger is posted.
It's pulled back nicely to the retracement trendline, and could trigger with the news in a few mins. For me though it's a pass, as the swings just aren't harmonic enough. I was hoping for a retest of 1.6000, but we never quite saw it.

Best,
Chris
  • #2,832
  • Feb 2, 2010 3:50am Feb 2, 2010 3:50am
Quoting Chris P
It's pulled back nicely to the retracement trendline, and could trigger with the news in a few mins. For me though it's a pass, as the swings just aren't harmonic enough. I was hoping for a retest of 1.6000, but we never quite saw it.

Best,
Chris
Well I'm short now at 1.5951 w/ a SL just over that last 1.5968 swing high. I'm basically fading news that gave the pair movement then it probably should have received. My R:R is pretty darn nice at this point, so it is a nice value sell for me.
  • #2,833
  • Feb 2, 2010 3:50am Feb 2, 2010 3:50am
Quoting Chris P
It's pulled back nicely to the retracement trendline, and could trigger with the news in a few mins. For me though it's a pass, as the swings just aren't harmonic enough. I was hoping for a retest of 1.6000, but we never quite saw it.

Best,
Chris
HI,

I watched it break my counter trend line with 9:00 candle (1hr TF)... In my humble opinion, cable has been ranging mostly between the 38-26% fib lines of Fridays move.

Maybe some better opportunities this afternoon
  • #2,834
  • Feb 2, 2010 3:54am Feb 2, 2010 3:54am
Quoting finswin56
Well I'm short now at 1.5951 w/ a SL just over that last 1.5968 swing high. I'm basically fading news that gave the pair movement then it probably should have received. My R:R is pretty darn nice at this point, so it is a nice value sell for me.
That's a nice entry price. You should be able to get yourself in a free trade pretty quickly with this one
  • #2,835
  • Feb 2, 2010 4:00am Feb 2, 2010 4:00am
Quoting Chris P
That's a nice entry price. You should be able to get yourself in a free trade pretty quickly with this one
can't complain. free in about 5 minutes. 30M shows a nice rejection. I'll take profit at 1.5890. just above nice short term support level easily seen on the 15M.
  • #2,836
  • Feb 2, 2010 4:58am Feb 2, 2010 4:58am
Quoting Chris P
Anyone else in this today?
No. For me it was the GBP/CAD short. LOB, of course
  • #2,837
  • Feb 2, 2010 5:10am Feb 2, 2010 5:10am
Quoting finswin56
Any thoughts on Cable?
The Resistance I see is the gap close from last week. price has tested it several times and come down through the TL making a BPC. I'm looking to sell a deeper pullback. 1H setup. 15M trigger is posted.
I didnt bother with this for three reasons. There was the GBP orange news at 9:30a.m London time. I dont take LOB trades unless +2hrs before red/orange news.(that is why i went for GBP/CAD, eur/gbp was my second choice). Secondly, THE gbp/usd pullback didnt even touch the 38% fib, since the LOB trading timeframe has passed, this becomes a 1,2,3 formation trade. As a rule, i like it to touch the FIB LEVEL, SMA, AND at least, a S/R level or a slanted trendline. 3 touches. With at least 4 elements of confluence. This wont be my trade
  • #2,838
  • Feb 2, 2010 5:14am Feb 2, 2010 5:14am
Quoting finswin56
can't complain. free in about 5 minutes. 30M shows a nice rejection. I'll take profit at 1.5890. just above nice short term support level easily seen on the 15M.
Interesting...since the RN is obviously at 1.5900....why not take profit at 1.5910 or 1. 5905 instead of 1.5890(below the RN)?
  • #2,839
  • Feb 2, 2010 5:49am Feb 2, 2010 5:49am
Quoting NightMoves
The AUD interest rate made some noise didnt it....

--NM
Yeah. It was quite a shock to the system. NZD also suffers from the effect. Any red-labeled news that affects AUD affects NZD. I cant see any setups that i am interested in.
  • #2,840
  • Edited 6:02am Feb 2, 2010 5:50am | Edited 6:02am
Hi all

2 trades for me in a very quite market, unfortunately I had to go out and just set small limits of 20 each (in hindsight just as well);

GBP/USD 15945 +20
EUR/CAD 14767 +20 - my broker has this spread as 10, not worth a live trade I dont think, Hector & NM recommends lower spreads, but as nothing was happening, I thought hmmm - just for the exercise;

Was also looking at CHF/JPY 4hr/1hr combination - but it bounced up again

In hind sight, GBP/USD trade was this morning @8:00 /LOB 1hr/15min - entry just below 15950 +40 pips

Still 7trading days demo to go, then I will slowly migrate to live account

Safe & Happy trading
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