Trend Trading All Pairs | Page 230 | 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

  • #4,581
  • Feb 24, 2010 10:18am Feb 24, 2010 10:18am
Quoting PippyD
Paulette brings up an interesting point. The price action up yesterday was a relatively strong, quick thrust. How should this sudden move be factored into the trade evaluation? Or should it?
hm, difficult to judge what price will do after such big thrusts. Sometimes it will continue the next day, sometimes reverse hard, sometimes consolidate. Important however are always the S/R levels and how price reacts around them.
Right now gbp/cad is looking like it wants to retest the H4 trendline from above, and maybe then continue back up. It could also just break through the h4 trendline again. Difficult to predict.
  • #4,582
  • Feb 24, 2010 10:23am Feb 24, 2010 10:23am
Quoting Custos
hm, difficult to judge what price will do after such big thrusts. Sometimes it will continue the next day, sometimes reverse hard, sometimes consolidate. Important however are always the S/R levels and how price reacts around them.
Right now gbp/cad is looking like it wants to retest the H4 trendline from above, and maybe then continue back up. It could also just break through the h4 trendline again. Difficult to predict.
So how we get there isn't as important as what happens when we do.
  • #4,583
  • Feb 24, 2010 10:26am Feb 24, 2010 10:26am
Just out of my silly curiosity......it killed the cat and maybe would the trades......if you are up 135 Pips on each trade...and you spot a nice setup forming....currently GBPCAD and everything is in place according to the 3SMAs blur blur blur.......why would you not lock in say 80 Pips on each trade and take a third trade...because you other two trades are risk free.............personally i would but you more experience than i am.......

Quoting NightMoves
I am sitting around 135 pips each on both of my open trades right now, the EU and the CADJPY so if I trade another it has to be something without any of those currencies in it...

--NM
  • #4,584
  • Feb 24, 2010 10:28am Feb 24, 2010 10:28am
Quoting Custos
hm, difficult to judge what price will do after such big thrusts. Sometimes it will continue the next day, sometimes reverse hard, sometimes consolidate. Important however are always the S/R levels and how price reacts around them.
Right now gbp/cad is looking like it wants to retest the H4 trendline from above, and maybe then continue back up. It could also just break through the h4 trendline again. Difficult to predict.

Thanks for this view Custos, so we keep learning, indeed it does look like a TL test from above...
  • #4,585
  • Feb 24, 2010 10:33am Feb 24, 2010 10:33am
Quoting PippyD
So how we get there isn't as important as what happens when we do.
yeah, at least for me past price action is not as important as current PA around S/R levels.
Problem is that trying to predict future movements based on past price action is very hard (most indicators are based on past PA and it is very difficult to trade from indicators as most of you know)
But if you incorporate S/R levels and PA, you have a much better chance of getting it right.
And remember, hector's method is actually more about reacting, not about predicting.
Only time I try to predict something is with touch trades, but this prediction is based on current PA and a confluence of S/R levels, fibs, trendlines...

But it's an interesting discussion, any other opinions out there?
  • #4,586
  • Feb 24, 2010 10:37am Feb 24, 2010 10:37am
Quoting Danku
Just out of my silly curiosity......it killed the cat and maybe would the trades......if you are up 135 Pips on each trade...and you spot a nice setup forming....currently GBPCAD and everything is in place according to the 3SMAs blur blur blur.......why would you not lock in say 80 Pips on each trade and take a third trade...because you other two trades are risk free.............personally i would but you more experience than i am.......
in my opinion that is a good method, which I also use all the time, taking off some to make it a risk-free trade in order to be able to enter into new trades. You only have to make sure that your overall R:R still meets your minimum R:R requirement if you close out some of your trade. (But that's just my rule)
  • #4,587
  • Feb 24, 2010 10:53am Feb 24, 2010 10:53am
Quoting Custos
And remember, hector's method is actually more about reacting, not about predicting.

Only time I try to predict something is with touch trades, but this prediction is based on current PA and a confluence of S/R levels, fibs, trendlines...

But it's an interesting discussion, any other opinions out there?
Now that I've had more screen time I see why you have mentioned the retracing so often. I find more and more "Watch the retrace" notes in my journal.
  • #4,588
  • Feb 24, 2010 10:59am Feb 24, 2010 10:59am
Quoting Danku
Just out of my silly curiosity......it killed the cat and maybe would the trades......if you are up 135 Pips on each trade...and you spot a nice setup forming....currently GBPCAD and everything is in place according to the 3SMAs blur blur blur.......why would you not lock in say 80 Pips on each trade and take a third trade...because you other two trades are risk free.............personally i would but you more experience than i am.......
I will take a third trade, I just will not take a third trade with any of the same currency in them, and I locked 100 pips on each one yesterday, so they are free trades in fact the EU got stopped out for 80 pips about 35 minutes ago the CJ is still alive.
  • #4,589
  • Feb 24, 2010 11:04am Feb 24, 2010 11:04am
Quoting Custos
yeah, at least for me past price action is not as important as current PA around S/R levels.
Problem is that trying to predict future movements based on past price action is very hard (most indicators are based on past PA and it is very difficult to trade from indicators as most of you know)
But if you incorporate S/R levels and PA, you have a much better chance of getting it right.
The reason I was initially curious is that there is a judgement call as to when PA around those S/R levels becomes important. Hector talks about momentum when reaching those levels but not about some of the subtleties (and real-world market messiness) of what happens before.

For example we are taught to look for momentum in the breakout. But what if there are two large thrusts then the the actual break is rather weak? Does that "count"? Do we only care about the candle that touches the S/R level?

I know a lot of this is based on experience and the real answer is "It depends". Not looking for hard and fast rules. Was just interested in relative weighting and others thoughts on the matter.

As always your input is greatly appreciated. Thank you for sharing.
  • #4,590
  • Feb 24, 2010 11:08am Feb 24, 2010 11:08am
Quoting Danku
Just out of my silly curiosity......it killed the cat and maybe would the trades......if you are up 135 Pips on each trade...and you spot a nice setup forming....currently GBPCAD and everything is in place according to the 3SMAs blur blur blur.......why would you not lock in say 80 Pips on each trade and take a third trade...because you other two trades are risk free.............personally i would but you more experience than i am.......
The CJ trade is up at the moment 177 pips, but with the EU out of the way now those 2 currencies are tradable again.

--NM
  • #4,591
  • Feb 24, 2010 11:14am Feb 24, 2010 11:14am
Quoting PippyD
The reason I was initially curious is that there is a judgement call as to when PA around those S/R levels becomes important....
well, I just consider a huge thrust against the trend to be an indication that the trend might soon be over, but if it stops right at the trendline or something like that, then the trend is still intact for now.
But yeah, it definitely depends. However, you want your impulse always to be stronger and faster than the retrace. A fast retrace is never a good indication. And with your momentum example: it depends if the ADR is for example already done for the day. But if you still have a lot of ADR left, then it doesn't matter so much how much momentum you have at the break, but you want to have some kind of momentum. You want to be in profits as fast as possible.
hope I didn't add to the confusion. But it really comes down to screen time.
  • #4,592
  • Edited 1:02pm Feb 24, 2010 12:38pm | Edited 1:02pm
Hey Custos,
Welcome back .... hope you had a great time at the ski resort... I was wondering the where did jedi master go for the last couple of days.

Are you eyeing any TTs ..so to speak.
  • #4,593
  • Feb 24, 2010 12:48pm Feb 24, 2010 12:48pm
Quoting MktScape
Hey Custos,
Welcome back .... hope you had a great time at the ski resort... I was wondering the where did jedi master's go for the last couple of days.

Are you eyeing any TTs ..so to speak.
thanks, yeah was a good time. hm, I was looking at some charts already, but nothing I really like in terms of high probability in the moment. However, I got a longer-term setup I am looking at since a couple of days. CAD/CHF daily chart level 1.0040.

But I am still adjusting my trendlines and so on, so I might come up with some other setups later.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf d1 24.2.2010.gif Size: 29 KB
  • #4,594
  • Feb 24, 2010 1:05pm Feb 24, 2010 1:05pm
Quoting Custos
thanks, yeah was a good time. hm, I was looking at some charts already, but nothing I really like in terms of high probability in the moment. However, I got a longer-term setup I am looking at since a couple of days. CAD/CHF daily chart level 1.0040.

But I am still adjusting my trendlines and so on, so I might come up with some other setups later.
This week has been slow IMO ... there have been a couple of setups i have been able to catch ...there is another one setting up on GBPCAD but dont have that pair.

On CAD/CHF are you looking to short?
  • #4,595
  • Feb 24, 2010 1:10pm Feb 24, 2010 1:10pm
Quoting MktScape
This week has been slow IMO ... there have been a couple of setups i have been able to catch ...there is another one setting up on GBPCAD but dont have that pair.

On CAD/CHF are you looking to short?
no, I would go long on the cad/chf at the level posted before.
  • #4,596
  • Feb 24, 2010 2:01pm Feb 24, 2010 2:01pm
Quoting Custos
well, I just consider a huge thrust against the trend to be an indication that the trend might soon be over, but if it stops right at the trendline or something like that, then the trend is still intact for now.
But yeah, it definitely depends. However, you want your impulse always to be stronger and faster than the retrace. A fast retrace is never a good indication. And with your momentum example: it depends if the ADR is for example already done for the day. But if you still have a lot of ADR left, then it doesn't matter so much how much momentum...
Makes total sense. Thanks again for the insight.
  • #4,597
  • Feb 24, 2010 7:49pm Feb 24, 2010 7:49pm
Quoting Paulette

Oh my and now - GBPCAD is dropping us a nice candle, let see is she will conform to plan drawn
There was a scary moment that GBP/CAD retraced on me for 56 pips. Just an hour or so ago. Close half with 100 pips.
  • #4,598
  • Edited 9:53pm Feb 24, 2010 9:26pm | Edited 9:53pm
Are there anyone waiting to short EURCAD?

There is evening star candestick formation on H4, shooting star on Daily. The marketsentiment also support bearish EUR, bullish CAD.
Attached Image
A member from Viet Nam. Forex changes my life
  • #4,599
  • Feb 24, 2010 9:54pm Feb 24, 2010 9:54pm
NM,
I just installed FXCM demo it now has all the pairs ..... now i can be at ease on being on the same page as everyone....

It has been relatively quite lately on this thread ....Entropy & PipDawg have disappeared somewhere !

We will hold the fort ....you are the Navigator /Capitan
  • #4,600
  • Feb 24, 2010 9:56pm Feb 24, 2010 9:56pm
I shorted CAD/CHF at 1.0285 . hourly is weak
20 traders viewing now