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Trend Trading All Pairs

  • #3,621
  • Feb 11, 2010 9:28am Feb 11, 2010 9:28am
CLOSED out the first 1/2 of my EUR/NZD short for +133 pips(not in the same league of YUNERO's +300 pips on EUR/NZD....). I entered short at the break of green candle @ 1.9695 on H4(check 2nd chart below). Final PT = 1.9510. Moving my 2nd SL to 1.9660


Quoting EntropyLad
EUR/NZD setup DAILY/H4.


daily setup chart
http://www.forexfactory.com/attachme...1&d=1265872696


h4 trigger chart
http://www.forexfactory.com/attachme...1&d=1265872696
  • #3,622
  • Feb 11, 2010 9:36am Feb 11, 2010 9:36am
Quoting yunero
anyone with me? touch trade is on BE right now. i will add more short if the lower trendline break.
Moved SL to 0.8800 as the lower trendline is break

New chart:

http://img6.imageshack.us/img6/4673/egu.gif
Trend + S&R + RR =
  • #3,623
  • Feb 11, 2010 9:37am Feb 11, 2010 9:37am
Quoting Paulette
HI Guys,

just posting EJ 1hr: the train has left this station - from now on I will pay a whole lot of attention to Fib areas, RN's - this was a great touch trade.
Paulette, same thing in the EUR/USD...look at the massacre. Starting from the RN of 1.3800 almost to the pip = which just happens to the the EXACT 50% fib level.

Although i wont take the touch trades of eurjpy and eur/usd, too risky for my blood....what you see here shows just how bloody good it can get when you snatch up a touch trade that works..then you can always pyramid into it too.

Interesting, is it not? monday to wednesday, this market seems almost dead...then wam! bam! it snaps to life with a vengeance!

update: just looked and see that eur/cad and eur/aud cant seem to stop themselves from running like a african gazelle on steroids.
  • #3,624
  • Feb 11, 2010 9:40am Feb 11, 2010 9:40am
Quoting EntropyLad
Pipalicious man, when you finally gets your hand dirty...some of these things will become clearer...it is like losing your virginity...regardless of how well somebody may describe it to you...it is never quite the same as doing it your self....
Hahahahaha!!!

Do i look like a virgin when i talk? Do i give meself away? hahahaha!

Thats funny stuff.

Ye i guess experience comes into place lol.
  • #3,625
  • Feb 11, 2010 9:46am Feb 11, 2010 9:46am
DUde, Keep rocking man, keep rocking.

I like the smell of pips in the morning....


Quoting yunero
Moved SL to 0.8800 as the lower trendline is break

New chart:

http://img6.imageshack.us/img6/4673/egu.gif
  • #3,626
  • Feb 11, 2010 9:49am Feb 11, 2010 9:49am
Quoting EntropyLad
Paulette, same thing in the EUR/USD...look at the massacre....
Agree, where's that neg-20%-dude now! As I clock screen hours, I seem to be noticing these things more and more, almost jumping out at me... EJ was one of my favourite charts, most of the time she is very good, man but dont let her loose - she'll sour your milk is two ticks and she has a good relationship with UJ - always make sure there is harmony and when there is harmoney between uj & eu in trend, then ej is almost like your ex- good looking!!!
  • #3,627
  • Feb 11, 2010 9:52am Feb 11, 2010 9:52am
I think my Touch Trade is broken...I am only up 40 pips...I think I need a new one..

--NM
  • #3,628
  • Feb 11, 2010 9:53am Feb 11, 2010 9:53am
EUR/CAD...i mean, seriously, WTF?

(Now, Pip DAWG took a touch trade on eur/cad at 1.4750 but got out early for + 40 pips. hahaha. )
  • #3,629
  • Feb 11, 2010 9:55am Feb 11, 2010 9:55am
Quoting NightMoves
I think my Touch Trade is broken...I am only up 40 pips...I think I need a new one..

--NM
hahahaha. It is getting to the point where +40pips is not enough. lol. I think NZD/JPY and NZD/USD are saving themselves for the NZD red-labeled retail sales coming during asian session...honestly, i dont want them to run now...i want them to run later during asian, so i can do a 1, 2, 3 formation with "blend the news" trade.
  • #3,630
  • Feb 11, 2010 10:02am Feb 11, 2010 10:02am
Custos,
With that remarkable trade you got yourself into, you should be ready to buy a brazillian beach house now...I know of an un-employed butler that looks impressive in a gold Bathroom if you want?? (He/she what ever it is now is and excellent write off)

--NM
  • #3,631
  • Feb 11, 2010 10:02am Feb 11, 2010 10:02am
Quoting Custos
hm, I think gbp/chf is already ready. Touching hourly trendline, at RN, 61.8% fib. Already moved most of its ATR.
I think could be a good short. But I am already involved in so many trades, I will leave that one alone for now.

EDIT: also price action leading up to the trendline was pretty fast, not sure if the level will hold with previous price action.
Thanks

Luckily i didnt take the trade. PA is very fast after breaking resistance at 1.6726.
Trend + S&R + RR =
  • #3,632
  • Feb 11, 2010 10:07am Feb 11, 2010 10:07am
Quoting NightMoves
Custos,
With that remarkable trade you got yourself into, you should be ready to buy a brazillian beach house now...I know of an un-employed butler that looks impressive in a gold Bathroom if you want?? (He/she what ever it is now is and excellent write off)

--NM
haha, I go for the ex gf of entropy as a butler or maybe a brazilian model in the golden bathroom? I bet entropy got definitely some pics for that fantasy of mine... And she would be even a very attractive write off
  • #3,633
  • Feb 11, 2010 10:08am Feb 11, 2010 10:08am
Quoting yunero
Thanks

Luckily i didnt take the trade. PA is very fast after breaking resistance at 1.6726.
yeah, PA is quite important for determining if a level will hold.
  • #3,634
  • Feb 11, 2010 10:09am Feb 11, 2010 10:09am
With PA on EUR/NZD at 1.9520...10 pips away from my final PT...moving my SL down from 1.9660 to 1.9560. If all else fails, and reversed, i will be making + 134pips on the second one.

UPDATE: it just hits. At a low of 1.9504. my spread is 5.8...i am out at 1.9510. Bagged: +185 pips for the 2nd 1/2 of the trade.

First 1/2 of trade: + 133 pips, 2nd 1/2 of trade: +185 pips. Done.

Quoting EntropyLad
CLOSED out the first 1/2 of my EUR/NZD short for +133 pips(not in the same league of YUNERO's +300 pips on EUR/NZD....). I entered short at the break of green candle @ 1.9695 on H4(check 2nd chart below). Final PT = 1.9510. Moving my 2nd SL to 1.9660
  • #3,635
  • Feb 11, 2010 10:40am Feb 11, 2010 10:40am
Quoting Custos
haha, I go for the ex gf of entropy as a butler or maybe a brazilian model in the golden bathroom? I bet entropy got definitely some pics for that fantasy of mine... And she would be even a very attractive write off
Custos, I agree, I would be much more comfortable with the ex-gf than that dude - he looks very dodge to me..

Well done on that trade of yours...
  • #3,636
  • Feb 11, 2010 10:52am Feb 11, 2010 10:52am
Quoting Paulette
Custos, I agree, I would be much more comfortable with the ex-gf than that dude - he looks very dodge to me..

Well done on that trade of yours...
thanks,
by the way, nzdusd is a perfect example why it is important to take off half of the trade very fast and move stop to b/e. I made a profit on that trade, somebody who wouldn't have taken off half would currently be quite sweaty and probably stopped out at a loss very soon.

It's always important to make it risk free as soon as possible. It smooths out the equity curve quite a bit.

best regards
  • #3,637
  • Feb 11, 2010 11:05am Feb 11, 2010 11:05am
USD/CAD touch trade: 1.05000. H4 chart chart.

RN
S/R levels
50% fib level
SMA indicates uptrend. daily is starting to show a turn around.

Entry at +5 pips of 1.05000. Sl = - 20 pips below that. Sell 1st 1/2 at 1.05025.

One caveat: this drop is too fast and strong...like the gbp/chf or the usd/sgd from last night. So, be forewarned. But still good as an exercise, to see these things in realtime and spot them. The chart is attached below:

(OF COURSE, custos analysis is much appreciated.)

http://www.forexfactory.com/attachme...1&d=1265907878
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 49 KB
  • #3,638
  • Feb 11, 2010 11:11am Feb 11, 2010 11:11am
Quoting EntropyLad
USD/CAD touch trade: 1.05000. H4 chart chart.

RN
S/R levels
50% fib level
SMA indicates uptrend. daily is starting to show a turn around.

Entry at +5 pips of 1.05000. Sl = - 20 pips below that. Sell 1st 1/2 at 1.05025.

One caveat: this drop is too fast and strong...like the gbp/chf or the usd/sgd from last night. So, be forewarned. But still good as an exercise, to see these things in realtime and spot them. The chart is attached below:
another reason why I would not like that trade is because it bounced off some pretty big resistance (1.076). So, dangerous to bet on a swing to the upside... I am actually now more looking for short opportunities in the lower time-frames.
But again, on the higher time-frames usd/cad is ranging around, so any trade bears a little higher risk.
  • #3,639
  • Edited 11:51am Feb 11, 2010 11:26am | Edited 11:51am
Quoting Custos
another reason why I would not like that trade is because it bounced off some pretty big resistance (1.076). So, dangerous to bet on a swing to the upside... I am actually now more looking for short opportunities in the lower time-frames.
But again, on the higher time-frames usd/cad is ranging around, so any trade bears a little higher risk.
I see what you mean on the daily and the weekly chart. it is also a very sharp bounce off the 1.07600 area... Hmmm....at the same time...i also see it as a break of the slanted trendline to the upside...also a degeneration in the SMA downward linearity indicates an upturn. Two strongly opposing viewpoints in my head at the same time..well, when there is doubt, there is no doubt. ONLY HIGH PROBABILITY TRADES. Pass the trade over to the next one.

ADDENDUM: i see a previous short opportunity using H1. I can see how that bounce off 1.07600 can serve as momentum push.

UPDATE: i read your comment below, custos, and also, i want to add that a better probability trade will be to wait till price action retraced and touch the slanted trendline around the 61% fib level which is at the 1.04368. In that way, one can combine the trendline support + S/R level + FIB level. Also, taking a look at the turgidity of the bearish candles bouncing off the 1.0760 area clearly indicative of a forceful bearish bounce.

I have attached the DAILY chart.
http://www.forexfactory.com/attachme...1&d=1265909141
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad ii.gif Size: 33 KB
  • #3,640
  • Feb 11, 2010 11:33am Feb 11, 2010 11:33am
Quoting EntropyLad
I see what you mean on the daily and the weekly chart....
exactly, if there is doubt, then don't take it. Normally I would agree with you, that the trendline is already broken, but that level we bounced off from really has a lot of significance, that's why I think we are actually now ranging and not necessarily going into an uptrend. Just my take.
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