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Trend Trading All Pairs

  • #4,541
  • Feb 24, 2010 1:02am Feb 24, 2010 1:02am
Quoting PippyD
Looked like ducks were in a line. Into the GBP/CAD trade short at 1.6269.
you still holding? I am thinking of getting in as it hits the asian low
  • #4,542
  • Feb 24, 2010 1:48am Feb 24, 2010 1:48am
Quoting PippyD
Looked like ducks were in a line. Into the GBP/CAD trade short at 1.6269.
PippyD,

Just curious which broker are you using? 1.6269 entry did not factor in spread rite?

Anybody trading the aggressive entry, short at 1.6300 instead? I think is the last video of the 3rd chapter
  • #4,543
  • Feb 24, 2010 1:55am Feb 24, 2010 1:55am
Looks like AUD/USD 30/5 might give a b-p-c to get in on an LOB.

Not a pristine LOB, but been in a tight range, caution with yesterday's low not too far off.
  • #4,544
  • Edited 2:30am Feb 24, 2010 2:00am | Edited 2:30am
Quoting hytten
PippyD,

Just curious which broker are you using? 1.6269 entry did not factor in spread rite?

Anybody trading the aggressive entry, short at 1.6300 instead? I think is the last video of the 3rd chapter

I entered more aggressively on 280, but this trade needs some momentum, maybe UK Open will bring us some with the trend...

Edit: Is this trade heading back to 61Fib level at 16325?

My spread is rather high on this one +15. my broker for now is igindex, but am looking to move to ACM in Swiss.
  • #4,545
  • Feb 24, 2010 2:11am Feb 24, 2010 2:11am
Quoting Paulette
I entered more aggressively on 280, but this trade needs some momentum, maybe UK Open will bring us some with the trend...

My spread is rather high on this one +15. my broker for now is igindex, but am looking to move to ACM in Swiss.
OMG the spread is +15 that is crazy. I am on Oanda the spread is 4.
  • #4,546
  • Feb 24, 2010 2:15am Feb 24, 2010 2:15am
Quoting hytten
OMG the spread is +15 that is crazy. I am on Oanda the spread is 4.

I know, hence looking for more trader friendly environment, their spread used to be very good, and about 4-6 month ago they changed it too dynamic, so no longer fixed.

As soon as I have my strategy waxed, I am off... I used to use their charts too, but have switched to MT4.

Oanda did not take non-res, i will enquire to find out if they now do.
  • #4,547
  • Feb 24, 2010 2:24am Feb 24, 2010 2:24am
looks like it is setting up for another drop in the NY session
  • #4,548
  • Feb 24, 2010 2:53am Feb 24, 2010 2:53am
Anyone using ECN broker? Does it makes sense? My oanda spread for EUR/USD is 0.9 and there are times I see the spread for MBtrading is 1.2. With 1.2 spread I still need to pay commission.
  • #4,549
  • Feb 24, 2010 3:08am Feb 24, 2010 3:08am
Quoting Paulette
I entered more aggressively on 280, but this trade needs some momentum, maybe UK Open will bring us some with the trend...

Edit: Is this trade heading back to 61Fib level at 16325?

My spread is rather high on this one +15. my broker for now is igindex, but am looking to move to ACM in Swiss.

GBP/CAD - out -10, it went back to retest the 61Fib, so lets see if she dips down or not - till then I will be looking elsewhere
  • #4,550
  • Feb 24, 2010 3:20am Feb 24, 2010 3:20am
Quoting Paulette
GBP/CAD - out -10, it went back to retest the 61Fib, so lets see if she dips down or not - till then I will be looking elsewhere
I think the price is looking for major resistance

http://www.forexfactory.com/showpost...postcount=4519
Attached Image (click to enlarge)
Click to Enlarge Name: Yunero_ Feb. 24, 2010__02.gif Size: 18 KB
Trend + S&R + RR =
  • #4,551
  • Feb 24, 2010 3:21am Feb 24, 2010 3:21am
Quoting yunero
I think the price is looking for major resistance

http://www.forexfactory.com/showpost...postcount=4519
Maybe the big boys just wanna kick us out and south it goes haha
  • #4,552
  • Feb 24, 2010 3:27am Feb 24, 2010 3:27am
Quoting yunero
I think the price is looking for major resistance

http://www.forexfactory.com/showpost...postcount=4519

That major resistance is some distance away, but if it keeps floating about, it could reach that level by NY session.
  • #4,553
  • Feb 24, 2010 3:59am Feb 24, 2010 3:59am
I've been following this thread with interest and have finally started to see some positive results using trend trading. I know trend lines are quite subjective but on Oanda there is no 4hr timeframe only a 3 hour. Have a look at the trend line on this 3 hour GBPCAD chart it will touch the trend line exactly on 1.6350
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.jpg Size: 151 KB
  • #4,554
  • Feb 24, 2010 5:47am Feb 24, 2010 5:47am
Quoting dread33
I've been following this thread with interest and have finally started to see some positive results using trend trading. I know trend lines are quite subjective but on Oanda there is no 4hr timeframe only a 3 hour. Have a look at the trend line on this 3 hour GBPCAD chart it will touch the trend line exactly on 1.6350

am looking more for 1.6400 as S/R level, it served as support 4 days, now looking to serve as resistance if it holds
  • #4,555
  • Feb 24, 2010 6:09am Feb 24, 2010 6:09am
Quoting EntropyLad
Despite my trepidations about the weekend as a factor(i will need to get CUSTOS opinion on this), it is good to know that the TT from 1.3650 still has effectiveness, eur/usd now at 1.3590.

p.s. i meant to write 1.3650 not 1.4650 on the EUR/USD above quote.
Sorry for the late reply, but I was on skiing holidays, now back. If I understand correctly you are asking if you should enter a trade right before the weekend starts. I would say, as long as you reach your first target before weekend begins, you are fine.
  • #4,556
  • Feb 24, 2010 7:20am Feb 24, 2010 7:20am
http://www.forexfactory.com/showpost...postcount=4553

Well it bounced off the trendline at 1.6350 almost to the pip. I waited for a pull back on the 5 min chart as it broke through the lower trend line in a nice 1-2-3 pattern. My entry is 1.6307. Let's see where it goes!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad_5min.jpg Size: 106 KB
  • #4,557
  • Feb 24, 2010 7:40am Feb 24, 2010 7:40am
Quoting PippyD
Looked like ducks were in a line. Into the GBP/CAD trade short at 1.6269.
After all that - stopped out.

Luckily stop was extra tight since I couldn't be there to manage.
  • #4,558
  • Feb 24, 2010 7:44am Feb 24, 2010 7:44am
Quoting dread33
http://www.forexfactory.com/showpost...postcount=4553

Well it bounced off the trendline at 1.6350 almost to the pip. I waited for a pull back on the 5 min chart as it broke through the lower trend line in a nice 1-2-3 pattern. My entry is 1.6307. Let's see where it goes!
For me it was a little too close to that RN I am going to wait for it clear that 6250 level now, but the PA headed back up and almost to the pip like dread had said, it took a bounce just below the .6350 RN.

--NM
  • #4,559
  • Feb 24, 2010 7:45am Feb 24, 2010 7:45am
Quoting Paulette
you still holding? I am thinking of getting in as it hits the asian low
Hi Paulette,

No, I got stopped out pretty quickly. Kept it tight on this one as it was getting late for me. And the slow development we were seeing gave me some caution - per NightMoves warning about the session we were in at the time.

If nothing else it was a good lesson in money management.

PippyD
  • #4,560
  • Feb 24, 2010 7:48am Feb 24, 2010 7:48am
Quoting dread33
http://www.forexfactory.com/showpost...postcount=4553

Well it bounced off the trendline at 1.6350 almost to the pip. I waited for a pull back on the 5 min chart as it broke through the lower trend line in a nice 1-2-3 pattern. My entry is 1.6307. Let's see where it goes!
Actually that was a good entry, hard to tell on this charting package but I think you have made a very good entry on this pair...Nice trade...

--NM
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