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Trend Trading All Pairs

  • #3,241
  • Feb 7, 2010 10:20am Feb 7, 2010 10:20am
Quoting EntropyLad
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
Yes the last 2 interventions did happen on Thursday night here, but I am not sure I trust them in the time of battle...they might do a suprise attack which be no suprise to me...LOL

--NM
  • #3,242
  • Feb 7, 2010 1:17pm Feb 7, 2010 1:17pm
Looks like right now the EURUSD is going to open quite a bit higher than it closed on friday around 1.3700 right now..the USDCHF in in a nice retcracement, the GBPJPY is up around 1.40, as excepcted so far...well we wil see what happens later..

--NM
  • #3,243
  • Feb 7, 2010 8:35pm Feb 7, 2010 8:35pm
Is is just me or are alot of these pairs extended after last weeks party?
  • #3,244
  • Feb 7, 2010 8:50pm Feb 7, 2010 8:50pm
Quoting Pip Dawg
Is is just me or are alot of these pairs extended after last weeks party?
I am really expecting some pretty big pullbacks, but then again who knows what will happen, it looks like what ever happens it is going to wait until London wakes up..

--NM
  • #3,245
  • Feb 7, 2010 10:40pm Feb 7, 2010 10:40pm
Ah never forget history. Mkt memory is very short and even shorter for traders. If u recall chf threats and attempts of holding the weakness of chf last year did not last long. Interventions never do. Cos it is not a fundamental or structural change.

Last years intervention dissipated when reserves increased in usd holdings causing the snb to refrain. This still holds true in current mkts.
They are simply holding the fall .

Interbank players counter these moves, waiting to pounce on failures Its always been the mentality . This is especially more apparent in jpy or BOJ related actions.

All the hype and misinformation on the net directed at retail players keep many veiled in mystery .
  • #3,246
  • Feb 7, 2010 11:54pm Feb 7, 2010 11:54pm
A NEW WEEK BEGINS...MAY THE PIPS BE WITH US.

Hope this coming week is bountiful.

Eye candy for the week(may they bring us good pips).

http://i31.tinypic.com/23hlkjl.jpg
  • #3,247
  • Feb 8, 2010 12:15am Feb 8, 2010 12:15am
Quoting EntropyLad
A NEW WEEK BEGINS...MAY THE PIPS BE WITH US.

Hope this coming week is bountiful.

Eye candy for the week(may they bring us good pips).

http://i31.tinypic.com/23hlkjl.jpg
Entropy

I see you're betting the booby-man this week - oops typo boogy man this week...

May just as well put some humor out as Asia seems dead - can you smell it, hopefully it will rock London a bit at least for some LOBs
  • #3,248
  • Feb 8, 2010 12:24am Feb 8, 2010 12:24am
Quoting Paulette
Entropy

I see you're betting the booby-man this week - oops typo boogy man this week...

May just as well put some humor out as Asia seems dead - can you smell it, hopefully it will rock London a bit at least for some LOBs
Yeah, asia is depressing dead. LOB is only 30minutes away...7am till 9am london time. May fortune favours us.

To those who are interested in current FCI status(market strength) of all the pairs/crosses. Here it is:

http://www.forexfactory.com/attachme...1&d=1265610759
Attached Image (click to enlarge)
Click to Enlarge Name: fci current status.gif Size: 13 KB
  • #3,249
  • Feb 8, 2010 1:46am Feb 8, 2010 1:46am
Quoting EntropyLad
Yeah, asia is depressing dead. LOB is only 30minutes away...7am till 9am london time. May fortune favours us.

To those who are interested in current FCI status(market strength) of all the pairs/crosses.
Hi Entropy

GU gave good example as to rules and discipline. 7:00 - 9:00 and only 7:00 - 9:00...

Where did you get the FCI status?
  • #3,250
  • Feb 8, 2010 1:49am Feb 8, 2010 1:49am
Quoting Paulette
Hi Entropy

GU gave good example as to rules and discipline. 7:00 - 9:00 and only 7:00 - 9:00...

Where did you get the FCI status?

GU? I am not seeing it. Post the chart, if you dont mind. I am not seeing any LOB setup, actually. the closest to it right now is EUR/CAD 1hr/15mins short.

FCI? That is one of hector stuff(check video #2, 3,4 below).
http://www.learnforexlive.com/advanced-indicators.php
  • #3,251
  • Feb 8, 2010 1:54am Feb 8, 2010 1:54am
EUR/AUD daily/h4, short.

Oh yeah, let me add: 1.5500 on the weekly and monthly is a major support. Which means that a solid break to the downside of that 1.5500 and a pullback to test it, and a continuation will be a good trade.
  • #3,252
  • Feb 8, 2010 2:10am Feb 8, 2010 2:10am
1hr to go before LOB ends....well...still none that i can see...if EUR/CAD breaks to the downside, decisively, pullback, then retest...and continue...that will be LOB...none so far....
  • #3,253
  • Feb 8, 2010 2:16am Feb 8, 2010 2:16am
HI Entropy,

let me try again - quality pf .jpg not too great.

This is for me a good example of not to preempt and wait for PA to conform to rules of strat.

30min/5min combo: GU makes a b-line for Asian low @ 6:55 only to retrace and not to retest till now
Attached Image (click to enlarge)
Click to Enlarge Name: GU 5min.jpg Size: 197 KB
  • #3,254
  • Feb 8, 2010 2:18am Feb 8, 2010 2:18am
Quoting EntropyLad
1hr to go before LOB ends....well...still none that i can see...if EUR/CAD breaks to the downside, decisively, pullback, then retest...and continue...that will be LOB...none so far....
Agree on that...
  • #3,255
  • Feb 8, 2010 2:30am Feb 8, 2010 2:30am
Quoting Paulette
HI Entropy,

let me try again - quality pf .jpg not too great.

This is for me a good example of not to preempt and wait for PA to conform to rules of strat.

30min/5min combo: GU makes a b-line for Asian low @ 6:55 only to retrace and not to retest till now

I still cannot see it clearly. But if you look at all the GBP/USD, GBP/JPY, EUR/USD, CHF/JPY, etc...you can see all of them strongly reversing at 7am london time. This is the reason why you dont take LOB trades before 7AM. it is also why i like to wait for EUR session to start before taking euro trades...becuase any euro trades taken a few hours before euro session starts may be reversed completely at 7am london time. It is also why i am a bit wary of taking eur/aud, eur/nzd, eur/jpy, gbp/aud, gbp/aud, gbp/jpy, chfjpy trades during asian session just in case those trades holdover till 7am london time frame. They can strongly reverse at london/frankfurst open.
During asian session, i only trade: AUD/USD, NZD/USD, AUDJPY, NZDJPY, AUD/NZD, USD/SGD, nzd/cad, aud/cad, USDJPY, CAD/JPY

That is just my two cents.
  • #3,256
  • Feb 8, 2010 2:38am Feb 8, 2010 2:38am
Quoting EntropyLad
I still cannot see it clearly. But if you look at all the GBP/USD, GBP/JPY, EUR/USD, CHF/JPY, etc...you can see all of them strongly reversing at 7am london time. This is the reason why you dont take LOB trades before 7AM. it is also why i like to wait for EUR session to start before taking euro trades...becuase any euro trades taken a few hours before euro session starts may be reversed completely at 7am london time. It is also why i am a bit wary of taking eur/aud, eur/nzd, eur/jpy, gbp/aud, gbp/aud, gbp/jpy, chfjpy trades during asian session...
Exactly, that is why I said adhere too the rules, typical example of how not to LOB - that retracement @ 7:00.
  • #3,257
  • Feb 8, 2010 3:13am Feb 8, 2010 3:13am
Quoting Paulette
Exactly, that is why I said adhere too the rules, typical example of how not to LOB - that retracement @ 7:00.
I concur.

Anyways, no LOB for today, i guess. Hopefully, there will be one tomorrow. There tends to be at least, two per week, so.......
  • #3,258
  • Feb 8, 2010 3:17am Feb 8, 2010 3:17am
Hello Paulette and Entropy Lad,
Bought Hector's course on Friday and still going through it so rules not hard-wired yet.
EG is trending since Asian session Friday and has broken last week's high. Not much momentum for an LOB.
Any thoughts?
Kan
P.S. I can't remember if the continuation phase has got to happen before 0900 GMT.
Thanks for your help, warmth and straight talking Heather.
  • #3,259
  • Feb 8, 2010 3:21am Feb 8, 2010 3:21am
Quoting EntropyLad
I concur.

Anyways, no LOB for today, i guess. Hopefully, there will be one tomorrow. There tends to be at least, two per week, so.......
Some weeks more, some weeks less, but they are there for sure.

I suspect some big/deep retracement to at least 4hr dynamic resistances / 38-62 fibo's before some further action of the majors.

I'll stick to the rules and let PA conform.

Anyway, pips in bank is queen, only bowing to pip+, the king
  • #3,260
  • Feb 8, 2010 3:24am Feb 8, 2010 3:24am
Quoting Kanderpro
Hello Paulette and Entropy Lad,
Bought Hector's course on Friday and still going through it so rules not hard-wired yet.
EG is trending since Asian session Friday and has broken last week's high. Not much momentum for an LOB.
Any thoughts?
Kan
P.S. I can't remember if the continuation phase has got to happen before 0900 GMT.
Hi Kan
LOB only from 7-9, then cancel if not entered as yet.
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