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Trend Trading All Pairs

  • #4,741
  • Feb 26, 2010 10:24am Feb 26, 2010 10:24am
Quoting PippyD
It will be interesting to see what this pullback looks like. The trouble is at this rate it will be the end of the week before it develops.
Ha! So much for a pullback.
  • #4,742
  • Feb 26, 2010 10:26am Feb 26, 2010 10:26am
Quoting NightMoves
I am using the 4 hour chart as the setup and 1 hour as the trigger and I am in already, but it may be like the last one, I had to enter that one twice to get it right...

--NM
My stop is now placed at BE I have not taken any profits out yet, I just want to make sure if it does back up it becomes a scratch trade...I am hoping it gets into full swing here soon...

--NM
  • #4,743
  • Feb 26, 2010 10:27am Feb 26, 2010 10:27am
Quoting PippyD
Ha! So much for a pullback.
There was a pull back on the hourly chart...I entered as soon as the continuation cleared the pullback start...

--NM
  • #4,744
  • Feb 26, 2010 10:33am Feb 26, 2010 10:33am
Quoting NightMoves
There was a pull back on the hourly chart...I entered as soon as the continuation cleared the pullback start...

--NM
I assume that you didn't wait for the H1 candle to close?

The entry on these breakouts can be tricky. It sounds like what you are doing is taking an aggressive entry after some momentum through the support (trendline), moving to BE as soon as possible and then wait to see if we get either 1. A clean BPC or 2. It just drops without a significant pullback. Either way it goes you're covered.

Close?
  • #4,745
  • Feb 26, 2010 10:33am Feb 26, 2010 10:33am
Quoting PippyD
Ha! So much for a pullback.
Here is the hourly chart (trigger) SL is now BE this looks pretty slow for a good collapse imo...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF BPC.png Size: 52 KB
  • #4,746
  • Feb 26, 2010 10:38am Feb 26, 2010 10:38am
Quoting PippyD
I assume that you didn't wait for the H1 candle to close?

The entry on these breakouts can be tricky. It sounds like what you are doing is taking an aggressive entry after some momentum through the support (trendline), moving to BE as soon as possible and then wait to see if we get either 1. A clean BPC or 2. It just drops without a significant pullback. Either way it goes you're covered.

Close?
You can see on the chart I posted the setup I used for entry, the pullback had several pin bars off the 1.0800 RN but each one still closed below the trend line which gave me a little more confidence that we could be seeing a collapse here..

--NM
  • #4,747
  • Feb 26, 2010 10:51am Feb 26, 2010 10:51am
Quoting NightMoves
You can see on the chart I posted the setup I used for entry, the pullback had several pin bars off the 1.0800 RN but each one still closed below the trend line which gave me a little more confidence that we could be seeing a collapse here..

--NM
Ah! Now I see.

My trendline is in a slightly different place than yours I think.

My oversight here was that I was assuming the BPC never retouches the S/R line. I'm not sure why I thought that but it's why I missed the bigger picture here. OTOH I was watching the right level. Just wasn't sure if it was time to push the trigger.

Thanks as always for these explanations NM. It really helps a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF 2-26-2010 09-45-53.jpg Size: 154 KB
  • #4,748
  • Feb 26, 2010 10:59am Feb 26, 2010 10:59am
Quoting PippyD
Ah! Now I see.

My trendline is in a slightly different place than yours I think.

My oversight here was that I was assuming the BPC never retouches the S/R line. I'm not sure why I thought that but it's why I missed the bigger picture here. OTOH I was watching the right level. Just wasn't sure if it was time to push the trigger.

Thanks as always for these explanations NM. It really helps a lot.
The CADJPY acted the same way, but I got a little wiser after that trade and moved my SL to BE quicker this time around, I took out part of the position at 25 pips in case I do get stopped out.

But hopefully it will get going here...

--NM
  • #4,749
  • Feb 26, 2010 11:01am Feb 26, 2010 11:01am
Quoting PippyD
Ah! Now I see.

My trendline is in a slightly different place than yours I think.

My oversight here was that I was assuming the BPC never retouches the S/R line. I'm not sure why I thought that but it's why I missed the bigger picture here. OTOH I was watching the right level. Just wasn't sure if it was time to push the trigger.

Thanks as always for these explanations NM. It really helps a lot.
Here is how I have my 4 hour setup chart drawn up...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hour trend line chart.png Size: 40 KB
  • #4,750
  • Feb 26, 2010 11:04am Feb 26, 2010 11:04am
These kinds of trades are pretty tricky....

--NM
  • #4,751
  • Feb 26, 2010 11:17am Feb 26, 2010 11:17am
AUDNZD is in collapse now too...

--NM
  • #4,752
  • Feb 26, 2010 11:22am Feb 26, 2010 11:22am
25 pips is all I could get.

--NM
  • #4,753
  • Feb 26, 2010 11:31am Feb 26, 2010 11:31am
Quoting NightMoves
Here is how I have my 4 hour setup chart drawn up...

--NM
This clarifies even more. I did not have an H4 trendline drawn. I was working off of the D1 using the H4 chart. That explains the (small) difference in our placement.

The devil certainly is in the details.

The pullback we're seeing now is actually what I was looking for.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF 2-26-2010 10-26-12.jpg Size: 90 KB
  • #4,754
  • Feb 26, 2010 11:34am Feb 26, 2010 11:34am
Quoting PippyD
This clarifies even more. I did not have an H4 trendline drawn. I was working off of the D1 using the H4 chart. That explains the (small) difference in our placement.

The devil certainly is in the details.

The pullback we're seeing now is actually what I was looking for.
I had an inside trend line drawn then price broke through that and staarted anothe trend trend but at a lower level, so I drew another line along that lower trend and that is why I had 2 of them.

--NM
  • #4,755
  • Feb 26, 2010 11:36am Feb 26, 2010 11:36am
Getting late in the week but EUR/USD might bear watching.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 2-26-2010 10-34-51.jpg Size: 97 KB
  • #4,756
  • Feb 26, 2010 11:43am Feb 26, 2010 11:43am
Quoting NightMoves
I had an inside trend line drawn then price broke through that and staarted anothe trend trend but at a lower level, so I drew another line along that lower trend and that is why I had 2 of them.

--NM
Well if nothing else this pair is proving interesting to watch today after a rather moribund week.

Price pulled back and touched my trendline to the pip.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF 2-26-2010 10-41-58.jpg Size: 160 KB
  • #4,757
  • Feb 26, 2010 11:56am Feb 26, 2010 11:56am
Quoting MktScape
This weekend I'll mark the slow moving pairs so that I dont waste time withit ....here is what i found about some slow and fast moving pairs:

Slow moving pairs include the NZD/USD, AUD/NZD, EUR/GBP and CHF/JPY. The next group moves a little faster like the AUD/USD, EUR/CHF, AUD/JPY, AUD/CAD, NZD/JPY.
Intermediate volatility pairs include the EUR/USD, USD/CHF, USD/JPY, EUR/JPY and USD/CAD.
High to very high volatility pairs include the GBP/AUD, GBP/CAD, GBP/USD, GBP/CHF, GBP/JPY, EUR/AUD, CAD/JPY, and EUR/CAD.
MktScape,

I'm curious how you calculated the volatility.

Thank you for posting the list. Very interesting.

PippyD
  • #4,758
  • Feb 26, 2010 12:18pm Feb 26, 2010 12:18pm
Quoting PippyD
MktScape,

I'm curious how you calculated the volatility.

Thank you for posting the list. Very interesting.

PippyD
Hey PippyD,
No i didnt calcualted it i was researching on the pairs volitility and came across it.
Here is a good website on currency pair correlation:

http://www.mataf.net/en/tools/correlation
http://www.investopedia.com%2Farticl...d3qmMY90ZHLLMg
  • #4,759
  • Feb 26, 2010 1:08pm Feb 26, 2010 1:08pm
Quoting MktScape
Hey PippyD,
No i didnt calcualted it i was researching on the pairs volitility and came across it.
Here is a good website on currency pair correlation:

http://www.mataf.net/en/tools/correlation
http://www.investopedia.com%2Farticl...d3qmMY90ZHLLMg
Interesting stuff. I'm having trouble with the investopedia link though.
  • #4,760
  • Feb 26, 2010 2:25pm Feb 26, 2010 2:25pm
Quoting PippyD
Interesting stuff. I'm having trouble with the investopedia link though.
This should work:
http://www.investopedia.com/articles.../05/051905.asp
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