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Trend Trading All Pairs

  • #3,221
  • Feb 7, 2010 6:56am Feb 7, 2010 6:56am
Quoting NightMoves
You would be suprised what stays away when thats running...LOL

--NM
I need something for the Girl Scouts. They are always bugging me about those darn cookies!
  • #3,222
  • Edited 7:14am Feb 7, 2010 7:03am | Edited 7:14am
Quoting Pip Dawg
I need something for the Girl Scouts. They are always bugging me about those darn cookies!
I bet they could cook them a lot faster with that...the city will not let me run that one in town, I have to have it far away from everything, I think they are scared of it...LOL

--NM
  • #3,223
  • Feb 7, 2010 7:30am Feb 7, 2010 7:30am
Hello guys.. I am keeping an eye on.. possible setups on my list:

GBPUSD M30 - nicely trending down..overall sentimen is down..
CHFJPY M30 - trending down..broken support at 83.906

Possibly USDCHF waiting for retrenchment at 1.06210..there is a major support area there if u look in the daily chart. Not sure..

See how things progress on tomorrow.
  • #3,224
  • Feb 7, 2010 7:50am Feb 7, 2010 7:50am
Quoting iezzzwan
Hello guys.. I am keeping an eye on.. possible setups on my list:

GBPUSD M30 - nicely trending down..overall sentimen is down..
CHFJPY M30 - trending down..broken support at 83.906

Possibly USDCHF waiting for retrenchment at 1.06210..there is a major support area there if u look in the daily chart. Not sure..

See how things progress on tomorrow.
I think the GBPUSD pair is in a really nice safe trend at the moment, there is really nothing in the way of this pair. This is how I have my resistance levels laid out...Even looking at the longer time frames there seems to be plenty of room..

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 1hr chart.png Size: 47 KB
  • #3,225
  • Feb 7, 2010 7:57am Feb 7, 2010 7:57am
Thanks nightmoves for the comment..

BTW are you going to short USDCHF once the trendline broke?

Hmm pondering myself.. shouldn't go counter trend.. hehe
  • #3,226
  • Feb 7, 2010 8:05am Feb 7, 2010 8:05am
Quoting iezzzwan
Thanks nightmoves for the comment..

BTW are you going to short USDCHF once the trendline broke?

Hmm pondering myself.. shouldn't go counter trend.. hehe
NO...LOL I think it might be a bad time to short any of the CHF pairs right now, they all look good but the SNB has been playing games and they have interjected 2 times in as many weeks, and they seem to to do it right around the same price area, so imo my opinion they may already have placed the buy orders somehwere in that same area, looking at the EURCHF pair it is almost to that level again...

--NM
  • #3,227
  • Feb 7, 2010 8:10am Feb 7, 2010 8:10am
Oh ok forgive my noob-ness. Will go hide under a table now. ahahaaha
  • #3,228
  • Feb 7, 2010 8:10am Feb 7, 2010 8:10am
Quoting NightMoves
NO...LOL I think it might be a bad time to short any of the CHF pairs right now, they all look good but the SNB has been playing games and they have interjected 2 times in as many weeks, and they seem to to do it right around the same price area, so imo my opinion they may already have placed the buy orders somehwere in that same area, looking at the EURCHF pair it is almost to that level again...

--NM
The SNB was pretty adiment in a statement they made, that they were not going to just sit back and watch their currency strengthen like it is doing and not do anything about it...so they may have their buy orders in place already...so dont be suprised to see them join in the fun here again...

--NM
  • #3,229
  • Feb 7, 2010 8:12am Feb 7, 2010 8:12am
Quoting iezzzwan
Oh ok forgive my noob-ness. Will go hide under a table now. ahahaaha
Hahaha no reason to hide, just keep your head low if the SNB pulls out its big guns again...

--NM
  • #3,230
  • Feb 7, 2010 8:14am Feb 7, 2010 8:14am
Quoting iezzzwan
Oh ok forgive my noob-ness. Will go hide under a table now. ahahaaha
The USDCHF I am looking to go long on that pair actually so if they want to play if and when I get in that trade they are welcome to play along...

--NM
  • #3,231
  • Feb 7, 2010 8:22am Feb 7, 2010 8:22am
Quoting NightMoves
The USDCHF I am looking to go long on that pair actually so if they want to play if and when I get in that trade they are welcome to play along...

--NM
Yeah like the time I miss that one trade last Friday
  • #3,232
  • Feb 7, 2010 8:23am Feb 7, 2010 8:23am
Here is where the SNB has interjected the last 2 times...and they made some headway....I am not sure of they are willing to let that gain slip away

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: SNB Interjection Prices.png Size: 67 KB
  • #3,233
  • Feb 7, 2010 8:31am Feb 7, 2010 8:31am
Quoting NightMoves
Here is where the SNB has interjected the last 2 times...and they made some headway....I am not sure of they are willing to let that gain slip away

--NM
I am sure those long wicks are stops and profits but the price is in the same area where the last slaughter took place so I would be careful with any shorting of the CHF right now...

--NM
  • #3,234
  • Feb 7, 2010 8:40am Feb 7, 2010 8:40am
Quoting iezzzwan
Yeah like the time I miss that one trade last Friday
You know the old saying..." I would rather be out of a trade I wished I was in rather than in a trade I wished I was out of"....

--NM
  • #3,235
  • Feb 7, 2010 8:50am Feb 7, 2010 8:50am
The WEEKLY chart shows it more clearly.


Quote

Here is where the SNB has interjected the last 2 times...and they made some headway....I am not sure of they are willing to let that gain slip away

--NM
Attached Thumbnails http://cdn.forexfactory.com/attachme...1&d=1265552573
  • #3,236
  • Feb 7, 2010 8:54am Feb 7, 2010 8:54am
Quoting EntropyLad
The WEEKLY chart shows it more clearly.
Look at the monthly chart and I guess you can see why there is concern...really close to the floor...

--NM
  • #3,237
  • Feb 7, 2010 8:58am Feb 7, 2010 8:58am
The USD CHF is looking good on both the 1hr and 4hr, but I think retracement is on the way, but then again who knows, but I am hoping to get an entry on this pair sooner or later..

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF4hr.png Size: 35 KB
  • #3,238
  • Feb 7, 2010 9:03am Feb 7, 2010 9:03am
My preference will be looking for long setups for any CHFs. For JPYs i am inclined to look for longs rather than shorts...the JPY are not averse to intervening in the market too. But the USD longs are obviously good to go(no risk of intervention), same for the GBP, EUR, CAD, NZD.

My two cents.




Quote
Quote:
Originally Posted by iezzzwan http://cdn.forexfactory.com/images/buttons/viewpost.gif
[i]Hello guys.. I am keeping an eye on.. possible setups on my list:

GBPUSD M30 - nicely trending down..overall sentimen is down..
CHFJPY M30 - trending down..broken support at 83.906

Possibly USDCHF waiting for retrenchment at 1.06210..there is a major support area there if u look in the daily chart. Not sure..

See...
  • #3,239
  • Feb 7, 2010 9:14am Feb 7, 2010 9:14am
Quoting EntropyLad
My preference will be looking for long setups for any CHFs. For JPYs i am inclined to look for longs rather than shorts...the JPY are not averse to intervening in the market too. But the USD longs are obviously good to go(no risk of intervention), same for the GBP, EUR, CAD, NZD.

My two cents.
I agree with that, I think right now until the risk Aversion stops the USD longs are going to be well played, the JPY I am not sure where their pain threshold is, we have an idea on the CHF but not sure where it is on the JPY.

--NM
  • #3,240
  • Feb 7, 2010 9:57am Feb 7, 2010 9:57am
Quoting NightMoves
Here is where the SNB has interjected the last 2 times...and they made some headway....I am not sure of they are willing to let that gain slip away

--NM
Not sure if this have any relevance, but looking at the date of previous, known interventions. I realize that the interventions have been occuring on FRIDAYS.

Check the daily chart below:

http://www.forexfactory.com/attachme...1&d=1265558157
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf intervention day.gif Size: 46 KB
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