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Trend Trading All Pairs

  • #3,441
  • Feb 9, 2010 8:09pm Feb 9, 2010 8:09pm
The USDCHF 1 hour bars are beginning to look like tick marks...everyone must be sleeping at the controls....

--NM
  • #3,442
  • Feb 9, 2010 8:12pm Feb 9, 2010 8:12pm
Quoting MktScape
This sound intutive to me and i would give it a try ...if you look at it on H1 it is making a small 123 formation ..how about entring at resistance break of this W formation on 1hr?
I thought about that, but there seems to be too many bars now and the formation is all whacked out, I still will probably trade if it looks like it is head for the trend line, but it is going to have to do a better job of convincing me than it is trying to do right now...

--NM
  • #3,443
  • Feb 9, 2010 8:25pm Feb 9, 2010 8:25pm
I agree, for the type of price action on H1, it lacks momentum ..more of sideways ... i would wait more for further evidence .... i guess we would have to wait for trendline break and retest now.

But once it starts moving in the desired direction this shuould net some good pips...since the retracement is quite deep.
Quoting NightMoves
I thought about that, but there seems to be too many bars now and the formation is all whacked out, I still will probably trade if it looks like it is head for the trend line, but it is going to have to do a better job of convincing me than it is trying to do right now...

--NM
  • #3,444
  • Edited 8:41pm Feb 9, 2010 8:40pm | Edited 8:41pm
Quoting NightMoves
I have to agree with you on that one, I was just looking at that chart, I think what I might do on that pair, and I did this on the GBPUSD yesterday, is kind of a new technique for me, but I have paper traded this for a while with good success, and that is, even though the trend line is quite a few pips away from the action right now, is I wait for the 1-2-3 right off that confluence of support, and trade it up to that trend line, there is enough room right now, and once it gets far enough away from my entry I move my stop in tighter, if it bounce...
Am i right to say that you actually change default hector rule abit and get in early? If you are, I am trading the same way too. I am bought USD/CHF since support hold at 1.0637 and I sold GBP/JPY since the resistance held 141.39
  • #3,445
  • Feb 9, 2010 8:44pm Feb 9, 2010 8:44pm
Quoting hytten
Am i right to say that you actually change default hector rule abit and get in early? If you are, I am trading the same way too. I am bought USD/CHF since support hold at 1.0637 and I sold GBP/JPY since the resistance held 1.4139
Hello Hytten,
Sometimes I play my own game as well...LOL Most of the time I follow the rules to the letter, but sometimes you just know its the right move, there is quite a bit of room between the entry and trend line, and as quickly as I can move my stop to BE the better in these risky trades.


Of course my lot size is quite small in cases like this too...
--NM
  • #3,446
  • Feb 9, 2010 8:45pm Feb 9, 2010 8:45pm
AUD/USD short H4/H1 is what is getting my interest as we speak.

The CNY news may do some damage.
  • #3,447
  • Feb 9, 2010 8:47pm Feb 9, 2010 8:47pm
Quoting NightMoves
I have to agree with you on that one, I was just looking at that chart, I think what I might do on that pair, and I did this on the GBPUSD yesterday, is kind of a new technique for me, but I have...

I do this all the time.
  • #3,448
  • Feb 9, 2010 8:47pm Feb 9, 2010 8:47pm
The GBPUSD is looking really temping too....

--NM
  • #3,449
  • Feb 9, 2010 8:52pm Feb 9, 2010 8:52pm
Hi Entropy,
It does look interesting. Following factors are kicking in ...61.8 Fib, Previous Support...Dynamic resistance.......Retracement trendline has been broken at this time ...
Quoting EntropyLad
AUD/USD short H4/H1 is what is getting my interest as we speak.

The CNY news may do some damage.
  • #3,450
  • Feb 9, 2010 8:52pm Feb 9, 2010 8:52pm
Quoting NightMoves
Hello Hytten,
Sometimes I play my own game as well...LOL Most of the time I follow the rules to the letter, but sometimes you just know its the right move, there is quite a bit of room between the entry and trend line, and as quickly as I can move my stop to BE the better in these risky trades.


Of course my lot size is quite small in cases like this too...
--NM
Hey NightMoves,
The way I look at it is that since we are looking at retracement trendline to hold once breakout happens, why not rejection of the previous horizontal resistance or support too..Got the early entry idea from Barry Burns.
  • #3,451
  • Feb 9, 2010 8:57pm Feb 9, 2010 8:57pm
Quoting hytten
Hey NightMoves,
The way I look at it is that since we are looking at retracement trendline to hold once breakout happens, why not rejection of the previous horizontal resistance or support too..Got the early entry idea from Barry Burns.
Well really that is what I have been doing lately, I acutally did that on the GBPUSD yesterday, however I think it is much riskier because it could bounce off the retrace line and head south again, but there is enough room between the tend line and entry point to move to BE or take profits, so it looked good, if the trend line was closer i would not even think about it.

--NM
  • #3,452
  • Feb 9, 2010 9:02pm Feb 9, 2010 9:02pm
I like the "touch trade" EURAUD posted earlier by Entropy.. Learned alot from u guys about entry point.. But should i be concern about the 1.5467 support on the weekly if I were to take that trade? It still holds support..
  • #3,453
  • Feb 9, 2010 9:02pm Feb 9, 2010 9:02pm
Quoting MktScape
Hi Entropy,
It does look interesting. Following factors are kicking in ...61.8 Fib, Previous Support...Dynamic resistance.......Retracement trendline has been broken at this time ...

I have attached what i am seeing in the AUD/USD h4/h1 short.

http://www.forexfactory.com/attachme...1&d=1265770919
Attached Image (click to enlarge)
Click to Enlarge Name: audusd short h1 trigger chart.gif Size: 37 KB
  • #3,454
  • Feb 9, 2010 9:05pm Feb 9, 2010 9:05pm
Quoting EntropyLad
I have attached what i am seeing in the AUD/USD h4/h1 short.
Yes that is set up really nice too....several good looking ones out here..

--NM
  • #3,455
  • Feb 9, 2010 9:09pm Feb 9, 2010 9:09pm
Quoting iezzzwan
I like the "touch trade" EURAUD posted earlier by Entropy.. Learned alot from u guys about entry point.. But should i be concern about the 1.5467 support on the weekly if I were to take that trade? It still holds support..
Can you post a chart please?

What i see in EUR/AUD next S/R levels are 1.5600 and 1.5524 and 1.5400 are potential s/r levels.
  • #3,456
  • Feb 9, 2010 9:17pm Feb 9, 2010 9:17pm
Quoting NightMoves
The GBPUSD is looking really temping too....

--NM
Price now retesting on H1...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.PNG Size: 43 KB
  • #3,457
  • Feb 9, 2010 9:19pm Feb 9, 2010 9:19pm
Quoting EntropyLad
I have attached what i am seeing in the AUD/USD h4/h1 short.
That pair keeps looking better and better....

--NM
  • #3,458
  • Feb 9, 2010 9:20pm Feb 9, 2010 9:20pm
This one. Hope nothing wrong with my charts.
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 82 KB
  • #3,459
  • Feb 9, 2010 9:20pm Feb 9, 2010 9:20pm
Quoting MktScape
Price now retesting on H1...
I thought it was getting ready to bust a move, but stopped just shy of "Holy Cow There it goes"...LOL
  • #3,460
  • Feb 9, 2010 9:22pm Feb 9, 2010 9:22pm
Quoting iezzzwan
This one. Hope nothing wrong with my charts.
WEEKLY low will definitely be S/R level.
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