Trend Trading All Pairs | Page 220 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #4,381
  • Feb 21, 2010 8:19pm Feb 21, 2010 8:19pm
Quoting MktScape
Entropy,
1.04000 level passed and there dosent appear to be a bounce ...i think the next bounce level would be around 1.03500 ...there are 4 conflunece factors around there RN, 78% Fib, Daily Support, 100% Fib extension.

What do you guys think?
I do not trust this pair a whole lot during this trading session, however had this been the London session or NY session this pair would have been gone already I think, those kinds of setups are spotted pretty quick and once that last low of the PBC was passed it should have taken off but it didnt...the setup looks good but it can be risky in this session, that dont mean it wont go, but if it does I think it is going to be a slow mover...

--NM
  • #4,382
  • Feb 21, 2010 8:27pm Feb 21, 2010 8:27pm
Quoting MktScape
USDCHF appears to be retesting the counter trend line on H1 ...
I am more over looking at the latest trend line breaches, meaning each retracement is getting deeper, now if this pair does make the ADR that will not create a new high but more over a possible HnS formation on the 4 hour TF, not that you cant grab pips on the way up but this pair needs extreme caution if anyone gets in it...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Trend Line Breach.png Size: 95 KB
  • #4,383
  • Feb 21, 2010 8:57pm Feb 21, 2010 8:57pm
Thanks for the caution .....

Anyone watching E/U h1 ...it is already hitting a confluence of resistence and so far appears to be turning around..

Quoting NightMoves
I am more over looking at the latest trend line breaches, meaning each retracement is getting deeper, now if this pair does make the ADR that will not create a new high but more over a possible HnS formation on the 4 hour TF, not that you cant grab pips on the way up but this pair needs extreme caution if anyone gets in it...

--NM
  • #4,384
  • Feb 21, 2010 9:05pm Feb 21, 2010 9:05pm
Question on FIB levels...

Anybody tried their hands on this type of FIB level usage before? I find it on james16 thread...essentially, you find two a swing within a swing...then draw fibs from both and where the fib level closely matches(the blue box) is an area of S/R for you(of course, not to be used in isolation.) Any takers?

http://cdn.forexfactory.com/attachme...1&d=1225053354


If you want to learn more about it in detail..here is the post:

http://www.forexfactory.com/showpost...ostcount=14735

ENJOY.

I have added an example using the EUR/USD 4hr.
http://www.forexfactory.com/attachme...1&d=1266808468
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4 fib levels matching.gif Size: 35 KB
  • #4,385
  • Edited 9:30pm Feb 21, 2010 9:19pm | Edited 9:30pm
yes, thats how i have always drawn my fib levels i also include the fib extension tool. Fib extension is used to project the potential end of a trend .....the regular fib tool that is being used is to project potential end of a retracement.

MT4 has limited fib tools & capabilities however not bad for a free software. BTW i learned this from Robert C Miner books and training materials and have also tried his Dynamic Trading software...however data feed was not free and i cant see myself spending another $100/month on data feed without making some real money

Quoting EntropyLad
Question on FIB levels...

Anybody tried their hands on this type of FIB level usage before? I find it on james16 thread...essentially, you find two a swing within a swing...then draw fibs from both and where the fib level closely matches(the blue box) is an area of S/R for you(of course, not to be used in isolation.) Any takers?


If you want to learn more about it in detail..here is the post:

http://www.forexfactory.com/showpost...ostcount=14735

ENJOY.
  • #4,386
  • Feb 21, 2010 9:20pm Feb 21, 2010 9:20pm
Quoting MktScape
Thanks for the caution .....

Anyone watching E/U h1 ...it is already hitting a confluence of resistence and so far appears to be turning around..
MktScape,
I am seeing the same thing here, looks like it is back in the triangle or wedge...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EU flat bottom triangle.png Size: 60 KB
  • #4,387
  • Feb 21, 2010 9:35pm Feb 21, 2010 9:35pm
Here is some more funfacts, look at the weekly chart on the USDCHF...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Weekly.png Size: 34 KB
  • #4,388
  • Feb 21, 2010 9:37pm Feb 21, 2010 9:37pm
Quoting NightMoves
Here is some more funfacts, look at the weekly chart on the USDCHF...

--NM

it is going to be an awesome week.
  • #4,389
  • Feb 21, 2010 9:39pm Feb 21, 2010 9:39pm
hitting a major congestio area ....explains the breaks of trendline on daily
also, based on my exerience with a similar situaion i think price will try to touch the monthly resistance ahead before reversing.
Quoting NightMoves
Here is some more funfacts, look at the weekly chart on the USDCHF...

--NM
  • #4,390
  • Feb 21, 2010 9:45pm Feb 21, 2010 9:45pm
Quoting EntropyLad
it is going to be an awesome week.
This could be a big gainer as the week goes on!

--NM
  • #4,391
  • Feb 21, 2010 9:45pm Feb 21, 2010 9:45pm
Quoting NightMoves
MktScape,
I am seeing the same thing here, looks like it is back in the triangle or wedge...

--NM
Well, i wont be surprised if the fun will be had by the London session traders. Probably completes the 1, 2, 3 formation there.
  • #4,392
  • Feb 21, 2010 9:47pm Feb 21, 2010 9:47pm
Quoting MktScape
hitting a major congestio area ....explains the breaks of trendline on daily
also, based on my exerience with a similar situaion i think price will try to touch the monthly resistance ahead before reversing.
It might head back up, it certainly is in a preculiar spot for sure...

--NM
  • #4,393
  • Feb 21, 2010 9:49pm Feb 21, 2010 9:49pm
Quoting EntropyLad
Well, i wont be surprised if the fun will be had by the London session traders. Probably completes the 1, 2, 3 formation there.
Well if they do complete the formation I may be in this for the long haul, this is really a good setup taking place here...

--NM
  • #4,394
  • Feb 21, 2010 9:52pm Feb 21, 2010 9:52pm
Quoting MktScape
hitting a major congestio area ....explains the breaks of trendline on daily
also, based on my exerience with a similar situaion i think price will try to touch the monthly resistance ahead before reversing.
If it does go back up and touch that trendline and makes a bounce right there, that will also give us a double top reversal on the 4 hour chart right at the trendline and a round number, and then watch the big boys jump in...

--NM
  • #4,395
  • Feb 21, 2010 9:53pm Feb 21, 2010 9:53pm
Quoting NightMoves
Well if they do complete the formation I may be in this for the long haul, this is really a good setup taking place here...

--NM
You took the TT short off 1.4650?

Looks pretty much okay to do. I dont see why not except that it is sunday. That is my only issue.
  • #4,396
  • Feb 21, 2010 9:58pm Feb 21, 2010 9:58pm
Quoting EntropyLad
You took the TT short off 1.4650?

Looks pretty much okay to do. I dont see why not except that it is sunday. That is my only issue.
No I am not in this yet, the last retracement has not yet reached the 75% fib level, so this could still head up, but if it does head up I think it will be its last hoorah going north for a while...

--NM
  • #4,397
  • Feb 21, 2010 10:12pm Feb 21, 2010 10:12pm
Quoting EntropyLad
Question on FIB levels...

Anybody tried their hands on this type of FIB level usage before? I find it on james16 thread...essentially, you find two a swing within a swing...then draw fibs from both and where the fib level closely matches(the blue box) is an area of S/R for you(of course, not to be used in isolation.) Any takers?




If you want to learn more about it in detail..here is the post:

http://www.forexfactory.com/showpost...ostcount=14735

ENJOY.

I have added an example using the EUR/USD 4hr.
I went through some of the pairs we have been watching and that seemed to work pretty good on the EU but not so well on the others...needs more experimenting...

--NM
  • #4,398
  • Feb 21, 2010 10:12pm Feb 21, 2010 10:12pm
which pair is this about?
Quoting NightMoves
No I am not in this yet, the last retracement has not yet reached the 75% fib level, so this could still head up, but if it does head up I think it will be its last hoorah going north for a while...

--NM
  • #4,399
  • Feb 21, 2010 10:15pm Feb 21, 2010 10:15pm
Quoting NightMoves
I went through some of the pairs we have been watching and that seemed to work pretty good on the EU but not so well on the others...needs more experimenting...

--NM
They dont use it in vacuum. They use it in conjuction with a strong hammer or inverted hammer reversal (2)RN (3)s/r level

They always wait for strong hammer or inverted hammer as confirmation. Just getting in at fib levels alone will get anybody killed.
  • #4,400
  • Feb 21, 2010 10:15pm Feb 21, 2010 10:15pm
Quoting MktScape
which pair is this about?
USDCHF off the weekly support area...

--NM
1 trader viewing now