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Trend Trading All Pairs

  • #3,941
  • Feb 16, 2010 10:05am Feb 16, 2010 10:05am
Quoting Custos
Good strategy, well done. hm, I also sometimes place trades for asian open breakouts. But I also find it quite difficult to decide on where my entry and where my stop should be.
I think that why I don't like not being in front of the screen because if some aspect of the placement is a bit arbitrary there is no way to re-think it and make adjustments as the market gives you more information. You know what I mean?
  • #3,942
  • Feb 16, 2010 10:06am Feb 16, 2010 10:06am
Hope GBPJPY give us some pips.

http://img696.imageshack.us/img696/4...4feb162352.gif
Trend + S&R + RR =
  • #3,943
  • Feb 16, 2010 10:07am Feb 16, 2010 10:07am
Quoting Custos
yeah, that is a problem I always have with placing orders in advance on LOB's or AOB's. Difficult to know in advance what price is doing and where entry and stop loss should be places.
That's why I just like to set touch trades while I sleep. Cause the stoploss and entry level is already predefined and it wouldn't make much difference if I am in front of the computer or not...

Touch trades makes a lot of sense as all is predefined. I have battled with this myself and then decided that I will trade UK/NY sessions only... Maybe I'll consider placing some TT's too, and it will be very ok as TT's are still DEMO...
  • #3,944
  • Feb 16, 2010 10:14am Feb 16, 2010 10:14am
The breakout from the 4h trendline might be suggesting we are heading back up to the dailies trendline + fib area around 1.4000 - 1.4050.

theres also strong s/r in that vecinity aswell.

Lets see what happens. Any opinions on this?
  • #3,945
  • Feb 16, 2010 10:20am Feb 16, 2010 10:20am
PIP DAWG,

I absolutely will not do that. I prefer a good setup that fails over an intentionally bad setup that works. I cannot afford to corrode my psychological capital.

That said, my only trade today was long CAD/JPY 1HR/15MINS at BPC. entry at 86.20...first exit at 86.44, second exit at 86.70. ADR is only 120.

I trade flat tops triangles/rectangle breakouts of euro/canadian or american/canadian or euro/american at 8am to 10am US open only.

I trade flat tops triangles/rectangle breakouts for canadian/asian or american/asia are 7pm to 8pm US time asia open only.

I trade flat tops triangles/rectangles breakouts for euro/american or euro/asian or euro/canadian at 2am to 4am US time london open only.



Quoting Pip Dawg
I reviewed some of Hector's LOB stuff last night and I decided to set this trade up before I went to bed. I know that I broke some rules when taking this trade. Mainly, trading before the news announcement this morning. Also, not being there for the BPC but I lowered the lot size and I decided to risk it.

Here's how it worked....

Sell stop at 1.7583
Stop loss at 1.7626
Take profit at 1.7500

Looks like I could have stayed in down to 1.7400 but I'm happy with how it turned out.
  • #3,946
  • Feb 16, 2010 10:26am Feb 16, 2010 10:26am
Quoting Pip Dawg
I think that why I don't like not being in front of the screen because if some aspect of the placement is a bit arbitrary there is no way to re-think it and make adjustments as the market gives you more information. You know what I mean?
I know what you mean. cause not only the levels are important, but also price action.
  • #3,947
  • Feb 16, 2010 10:26am Feb 16, 2010 10:26am
gbp/jpy.

Anybody waiting for a touch trade?
  • #3,948
  • Feb 16, 2010 10:29am Feb 16, 2010 10:29am
Quoting Pipalicious
gbp/jpy.

Anybody waiting for a touch trade?
At the 144.00?
  • #3,949
  • Feb 16, 2010 10:30am Feb 16, 2010 10:30am
I opened a long with usd/chf. A little worried about the fast move down, but on the h4 it doesn't look so violent.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf h4 16.2.2010.gif Size: 50 KB
  • #3,950
  • Feb 16, 2010 10:33am Feb 16, 2010 10:33am
Quoting Custos
I opened a long with usd/chf. A little worried about the fast move down, but on the h4 it doesn't look so violent.
Best of luck. I dont like it. Too violent for my taste. It violates my rule #4 and #5. Especially, #5

http://www.forexfactory.com/showpost...postcount=3873

Hope it works out.
  • #3,951
  • Feb 16, 2010 10:35am Feb 16, 2010 10:35am
Quoting Pipalicious
The breakout from the 4h trendline might be suggesting we are heading back up to the dailies trendline + fib area around 1.4000 - 1.4050.

theres also strong s/r in that vecinity aswell.

Lets see what happens. Any opinions on this?
Which swing did you use for the Fib for this analysis?
  • #3,952
  • Feb 16, 2010 10:37am Feb 16, 2010 10:37am
Quoting Custos
I opened a long with usd/chf. A little worried about the fast move down, but on the h4 it doesn't look so violent.
haha, stopped out. Oh well, next opportunity will come soon.
  • #3,953
  • Feb 16, 2010 10:37am Feb 16, 2010 10:37am
Quoting yunero
Hope GBPJPY give us some pips.

http://img696.imageshack.us/img696/4...4feb162352.gif
Hit SL -30pips.. Today is a breakout day??
Trend + S&R + RR =
  • #3,954
  • Feb 16, 2010 10:38am Feb 16, 2010 10:38am
Quoting EntropyLad
At the 144.00?
142.00

Guess it wont be for now.
  • #3,955
  • Feb 16, 2010 10:45am Feb 16, 2010 10:45am
Quoting yunero
Hit SL -30pips.. Today is a breakout day??
i beleive CUSTOS made the prediction that this week will be JPY week. He is right, again, as usual.

http://www.forexfactory.com/showpost...postcount=3863

ONCE AGAIN, good work, yunero.
  • #3,956
  • Feb 16, 2010 10:47am Feb 16, 2010 10:47am
Quoting EntropyLad
i beleive CUSTOS made the prediction that this week will be JPY week. He is right, again, as usual.

http://www.forexfactory.com/showpost...postcount=3863

ONCE AGAIN, good work, yunero.
haha, I am a psychic (sometimes)
  • #3,957
  • Feb 16, 2010 10:52am Feb 16, 2010 10:52am
Anybody seeing a potential counter trend on the 4h usd/chf? Is it the "trend collapse" what Hector calls it?

Also watching aud/usd 30m swing north. strong confluence around 0.8950ish with s/r, fib 50, trendline. Big concern is the ADR.

Any thoughts about this? Still learning

usd news at 5. If the broken trendline holds as resistance im going short once the bpc is confirmed. I guess its blending the news?

is this correct.

Thanks

Pip
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf4h.png Size: 64 KB
Click to Enlarge Name: audusd30m.png Size: 53 KB
  • #3,958
  • Feb 16, 2010 10:59am Feb 16, 2010 10:59am
Quoting EntropyLad
i beleive CUSTOS made the prediction that this week will be JPY week. He is right, again, as usual.

http://www.forexfactory.com/showpost...postcount=3863

ONCE AGAIN, good work, yunero.
Kind of brutal out there today, managed 39 pips and closed the whole shabang down...

--NM
  • #3,959
  • Feb 16, 2010 11:00am Feb 16, 2010 11:00am
One good thing about all these breakouts...that means we will be having swing trades 1, 2,3 and bpc in these breakouts later this week(starting tomorrow)...and of course, LOB trades this week when these breakouts consolidates on their way.
  • #3,960
  • Feb 16, 2010 11:06am Feb 16, 2010 11:06am
Quoting Pipalicious
Anybody seeing a potential counter trend on the 4h usd/chf? Is it the "trend collapse" what Hector calls it?

Also watching aud/usd 30m swing north. strong confluence around 0.8950ish with s/r, fib 50, trendline. Big concern is the ADR.

Any thoughts about this? Still learning

usd news at 5. If the broken trendline holds as resistance im going short once the bpc is confirmed. I guess its blending the news?

is this correct.

Thanks

Pip
The USDCHF is right near the top of the weekly trend line, so we could be seeing a bounce of that area.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly trend.png Size: 32 KB
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