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Trend Trading All Pairs

  • #4,281
  • Feb 19, 2010 10:49am Feb 19, 2010 10:49am
Quoting Custos
yep I am in it, but as a TT.
Are you shorting it?

--NM
  • #4,282
  • Feb 19, 2010 10:50am Feb 19, 2010 10:50am
Quoting NightMoves
I did not get in exactly where I wanted but I got in... Second TP may not get triggered...

--NM
Curious where you guys are looking for that second TP. I was planning on something around 87.95 which is just before the next resistance line around 87.88.
  • #4,283
  • Feb 19, 2010 10:51am Feb 19, 2010 10:51am
Quoting NightMoves
I had my alarm set, and managed to get in but a few pips shy of where I wanted to get in. I was worried it may not get past 88.00 because there is some Resistance there but it got through it, and then set my final TP 10 pips shy of the 88.500 and tightened up my stop.

--NM
Sorry. Was typing at the same time you were.
  • #4,284
  • Feb 19, 2010 10:52am Feb 19, 2010 10:52am
Quoting PippyD
Curious where you guys are looking for that second TP. I was planning on something around 87.95 which is just before the next resistance line around 87.88.
The TP you have is where I would have taken out had it not punched through that RN, then I let it go midway through that brush pile and decided to set 10 pips shy of the next RN.

--NM
  • #4,285
  • Feb 19, 2010 10:54am Feb 19, 2010 10:54am
Quoting PippyD
Curious where you guys are looking for that second TP. I was planning on something around 87.95 which is just before the next resistance line around 87.88.
Also the second TP is a few pips shy of the ADR, and it may not make that...

--NM
  • #4,286
  • Feb 19, 2010 10:59am Feb 19, 2010 10:59am
Quoting NightMoves
Anyone in the CADJPYpair? Just halfed out at +61 pips..

--NM
EUR/CAD looks better...sorry i was away...work! WORK! work! Solid blend the news too.....h1/15mins
  • #4,287
  • Feb 19, 2010 11:04am Feb 19, 2010 11:04am
Quoting EntropyLad
i JUST noticed...the ADR on GBP/CAD has been thoroughly exhausted at 1.6138 LOL. hahahaha.

Anyways, we will see if it will get to 1.6105, nonetheless.
GBP/CAD Finally reaching 1.6105 and exceeding it by +20pips so far...after it has finished playing with the news dancing around....

Anyways, news was in the way and ADR exhausted...bad idea as LOB.
  • #4,288
  • Feb 19, 2010 11:12am Feb 19, 2010 11:12am
Quoting Custos
yep I am in it, but as a TT.
Before the CAD news hit? you TT'ied it?
  • #4,289
  • Feb 19, 2010 11:12am Feb 19, 2010 11:12am
Also while I am letting it do it's thing, I switch over to the 5 minute chart and measure the last impulse move that was at least 40 pips in length. Then I draw fibs on that retracement and use the 75% as my exit if the target has not been hit. Not that anyone has to to do it this way but I thought I would post one of the methods I use for following the trade.

--NM
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  • #4,290
  • Feb 19, 2010 11:14am Feb 19, 2010 11:14am
Quoting EntropyLad
Before the CAD news hit? you TT'ied it?
sorry, I meant chf/jpy.
  • #4,291
  • Feb 19, 2010 11:23am Feb 19, 2010 11:23am
Quoting NightMoves
Also while I am letting it do it's thing, I switch over to the 5 minute chart and measure the last impulse move that was at least 40 pips in length. Then I draw fibs on that retracement and use the 75% as my exit if the target has not been hit. Not that anyone has to to do it this way but I thought I would post one of the methods I use for following the trade.

--NM
Interesting technique. Thank you for sharing.

Any thoughts on how long you let things run before exiting if the price flops around like it's doing now? Just let it go?
  • #4,292
  • Feb 19, 2010 11:24am Feb 19, 2010 11:24am
Quoting PippyD
This might be worth keeping an eye on.
Yeah, 1HR/15MINS triangle breakouts to the upside in the AUD/NZD at 8:30am US open. I wasnt in that....

Generally that is how i exclusively like to trade rectangle or triangle breakouts. At London open time frame of 2am to 4am or US open time frame of 8am to 10am, all the pairs can go; however, from 7pm to 8pm ASIA time can only trade the asian/canadian or asia/american currencies.

This is for rectangle/triangle breakouts.
  • #4,293
  • Feb 19, 2010 11:29am Feb 19, 2010 11:29am
Quoting PippyD
Interesting technique. Thank you for sharing.

Any thoughts on how long you let things run before exiting if the price flops around like it's doing now? Just let it go?
I usually use 40 pips on each impulse for the longer term trends, other wise for daily I cut that in half, and then I keep moving my stop to just below the 75% if I get stopped out then I get stopped out but still with a nice profit, I will keep there until the target gets hit if it gets hit. It is just something to kind of let me know that we are done heading the in the trend direction, otherwise I have found myself bailing out too early on some trades.

--NM
  • #4,294
  • Feb 19, 2010 11:34am Feb 19, 2010 11:34am
Quoting EntropyLad
Yeah, 1HR/15MINS triangle breakouts to the upside in the AUD/NZD at 8:30am US open. I wasnt in that....

Generally that is how i exclusively like to trade rectangle or triangle breakouts. At London open time frame of 2am to 4am or US open time frame of 8am to 10am, all the pairs can go; however, from 7pm to 8pm ASIA time can only trade the asian/canadian or asia/american currencies.

This is for rectangle/triangle breakouts.
Hmmm... I didn't even realize there was a NY breakout. All anyone ever talks about is London. But it makes sense.

This pair didn't pull back much (if any) so I was hesitant and just watching for now. Add it to the watch list next week I guess.
  • #4,295
  • Feb 19, 2010 11:35am Feb 19, 2010 11:35am
Quoting Custos
sorry, I meant chf/jpy.
Hmmm...i see...slanted trendline break on the H4. My entry would have been at 83.95...the 50% fib was only 10 pips behind the RN of 84.00. I would have already sold my 1/2 at +20 or +25 pips.

Probably be out of the trade because it later spiked below -20pips SL at london noon...unless i was using -25 pips SL...i wont be in the trade anymore. Good catch. Happened during the 7am lob time too...while i was wasting time.
  • #4,296
  • Feb 19, 2010 11:39am Feb 19, 2010 11:39am
Quoting PippyD
Hmmm... I didn't even realize there was a NY breakout. All anyone ever talks about is London. But it makes sense.

This pair didn't pull back much (if any) so I was hesitant and just watching for now. Add it to the watch list next week I guess.
Seems like the NY breakouts happen about 10:00 AM eastern or shortly after that up until about 11:30 Eastern time. I am not sure why it takes them so long to get going but it does.

--NM
  • #4,297
  • Feb 19, 2010 11:45am Feb 19, 2010 11:45am
Quoting PippyD
Hmmm... I didn't even realize there was a NY breakout. All anyone ever talks about is London. But it makes sense.

This pair didn't pull back much (if any) so I was hesitant and just watching for now. Add it to the watch list next week I guess.
Well, london is the main enchillada. The P, the Man. But as you can see over and over...by 1pm london time...which is 8am US time...currencies undergo serious moves(either as retracements of some or all of their previous london moves...this is notorious on FRIDAYS. A quick glance at the various charts will show you this. It is common.). Between 8am and 10am US time(1pm - 3pm london time)You also can see breakouts of consolidating pairs/currencies that didnt breakout through out early LONDON session. 8am to 9am US EST MOSTLY. Especially, if you add USD or CAD news into the mix. 7pm(Est time) ASIA time is also another breakout period mostly for the AUD, NZD, SGD, and to some extent, the CAD(maybe it has to due with the fact that it is a commodity currency).

These are my little observations in the market...go back through your charts and take a look.

UPDATE: After i finished posting this i read nightmoves comment above

Quoting NightMoves
Seems like the NY breakouts happen about 10:00 AM eastern or shortly after that up until about 11:30 Eastern time. I am not sure why it takes them so long to get going but it does.

--NM
The US market opens at 9:30am EST. the CANADIAN market opens at 9:30am est. That will be 1hour or 1.5hours ahead of your time frame, nightmoves, so what you are seeing at 10am or 11:30am is actually 9am and 10:30am.
  • #4,298
  • Feb 19, 2010 11:46am Feb 19, 2010 11:46am
Quoting NightMoves
Seems like the NY breakouts happen about 10:00 AM eastern or shortly after that up until about 11:30 Eastern time. I am not sure why it takes them so long to get going but it does.

--NM
They spend an hour looking at Pip Dawg's pictures.
  • #4,299
  • Feb 19, 2010 11:49am Feb 19, 2010 11:49am
Quoting EntropyLad
Well, london is the main enchillada. The P, the Man. But as you can see over and over...by 1pm london time...which is 8am US time...currencies undergo serious moves(either as retracements of some or all of their previous london moves...this is notorious on FRIDAYS. A quick glance at the various charts will show you this. It is common.). Between 8am and 10am US time(1pm - 3pm london time)You also can see breakouts of consolidating pairs/currencies that didnt breakout through out early LONDON session. 8am to 9am US EST MOSTLY. Especially, if you add...
I agree with that, I am GMT-6 and I know unless it is a news push the NY session takes it an hour after it opens to decide what its going to do, I dont know they hold pep rallies before they ctually start or what, but like clock work they will take an hour after the opening bell to make the market move.

--NM
  • #4,300
  • Feb 19, 2010 11:51am Feb 19, 2010 11:51am
Quoting NightMoves
I agree with that, I am GMT-6 and I know unless it is a news push the NY session takes it an hour after it opens to decide what its going to do, I dont know they hold pep rallies before they ctually start or what, but like clock work they will take an hour after the opening bell to make the market move.

--NM
Hold pep rallies? HAHAHAHAHAHA. LOL. I guess this is how they open "n y open". gimme a "n!"....gimme a "y!"...gimme an "o!"...gimme a "p!"!...gimme an "e!"...gimme a "n!"


http://upload.wikimedia.org/wikipedi..._%28104%29.jpg

Quoting PippyD
They spend an hour looking at Pip Dawg's pictures.
LMAO! Ever read "Liar's Poker"?
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