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Trend Trading All Pairs

  • #4,801
  • Feb 28, 2010 3:06am Feb 28, 2010 3:06am
Quoting PippyD
Custos,

Have you looked at the Fibonacci trading thread? I just browsed the other day out of curiosity. I think they are applying the same principals. Might be worth perusing for ideas.

It strikes me that the fundamental theory is sound but their charts get visually cluttered with three different Fibs. Bordering on too much of a good thing.

http://www.forexfactory.com/showthread.php?t=50767

PD
thanks for the thread, I am gonna take a look at it!
  • #4,802
  • Feb 28, 2010 4:19am Feb 28, 2010 4:19am
Quoting Custos
thanks for the thread, I am gonna take a look at it!
okay, I just read the first three pages, way too many fibs for my taste. I like to keep my charts as clean as possible. Not sure what the use of so many fibs is. I like my S/R levels + fib combination more. But still gonna keep reading a bit, maybe I can make some sense out of it.
  • #4,803
  • Feb 28, 2010 4:39am Feb 28, 2010 4:39am
By the way I looked also more into diagonal S/R levels, trendlines all across the chart marking lows with highs and so on. More often than not, price reverses exactly at the confluence of a diagonal & horizontal S/R level + a fib level. It becomes easier and easier to spot the right levels, especially if you have a confirmation of a diagonal S/R level.
However, finding diagonal S/R levels is a little trickier than the horizontal ones.
  • #4,804
  • Feb 28, 2010 5:31am Feb 28, 2010 5:31am
hm, I was now looking into the eur/usd h4 chart. I know the eur/usd actually broke the normal trendline and is biased to the upside, however, I believe we still could get a reaction at the level I marked.
The first chart shows why I picked that diagonal S/R level.
The second chart shows the horizontal S/R level + 78.2% fib level + the trendline coming all together at one point. I believe we for sure could get a reaction of some kind, maybe a 100 pip move to the downside or so. But again, bias of eur/usd is actually bullish, since it broke our normal trendlines and needs a retracement back up.
What do you guys think?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd h4 28.2.2010 trendline.gif Size: 25 KB
Click to Enlarge Name: eurusd h4 28.2.2010.gif Size: 27 KB
  • #4,805
  • Feb 28, 2010 6:50am Feb 28, 2010 6:50am
Quoting MktScape
EC does have a strong short bias at that level ..from what i can see daily is down trending....along with RN, 50 % Fib ...there is a weekly resistance ..candle is showing a price rejection ....

I will be inclined to take this short

PS: If you would enter short on this one will you want for a bar close below the last candle? or you would simply enter a short order below the bar low and if touched you are in the trade.
I am not quite sure how I will enter this. Looks like it is retesting the short term range bottom a break below that level would be ideal we will see how it plays out, but however it plays it out I think this is a high proabablility setup.

--NM
  • #4,806
  • Feb 28, 2010 6:55am Feb 28, 2010 6:55am
Quoting MktScape
What do you think about going short at the identified level?
Thats another setup I have on my watch list, there is a brush pile below the previous swing low on the weekly chart but I think it can be traded down to that point, and then just watch it and see what it does when it gets that far.

--NM
  • #4,807
  • Feb 28, 2010 8:28am Feb 28, 2010 8:28am
Quoting MktScape
How about a TT short at the identified level ...its appears quite strong?

- Daily trend is down with lower highs ...MAs sloping down
- MAs on H4 are down as well ... wait for a candle confirmation of a
downward reversal.
yeah, I think your levels on gbp/usd and nzd/jpy are good. Have the same levels on my charts.
  • #4,808
  • Feb 28, 2010 12:15pm Feb 28, 2010 12:15pm
Quoting Custos
okay, I just read the first three pages, way too many fibs for my taste. I like to keep my charts as clean as possible. Not sure what the use of so many fibs is. I like my S/R levels + fib combination more. But still gonna keep reading a bit, maybe I can make some sense out of it.
That was my reaction too. Like I say - too much of a good thing. I think I bailed after three pages also.

What I did find relevant to your research is that they are using the Fibs to project swings. I just don't have the cycles to sort through the theory right now.
  • #4,809
  • Feb 28, 2010 1:05pm Feb 28, 2010 1:05pm
On this pair the following confluence levels are within a tight zone:

- Daily/Weekly Trend is still down.
- In the price zone of 1.55000 to 1.55228 we have got a previous support which would act as resistance ..
- Monthly ressitance + two fib levels(38 & 50) from two difference swing levels + RN

Who else has this on their radar ?

BTW...this pair is on the higher volitality pairs list ..meaning it wont sleep over forever and would rather show its intention faster.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-AUD- Daily-H4- Short.jpg Size: 195 KB
  • #4,810
  • Feb 28, 2010 1:09pm Feb 28, 2010 1:09pm
Quoting MktScape
On this pair the following confluence levels are within a tight zone:

- Daily/Weekly Trend is still down.
- In the price zone of 1.55000 to 1.55228 we have got a previous support which would act as resistance ..
- Monthly ressitance + two fib levels(38 & 50) from two difference swing levels + RN

Who else has this on their radar ?

BTW...this pair is on the higher volitality pairs list ..meaning it wont sleep over forever and would rather show its intention faster.
Exactly what I am looking at, too. Good eyes
  • #4,811
  • Feb 28, 2010 1:56pm Feb 28, 2010 1:56pm
Quoting NightMoves
Here is the EC 4 hr chart, looks like a short setup to me? Anyone else looking at this?

--NM
It does look like a good short. Inverted hammer on the D1 too.

It's been down trending nicely for a while. Some long-term support from way back around 1.4070. I don't see any real indication that the trend is slowing down though.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD 2-28-2010 12-50-43.jpg Size: 97 KB
  • #4,812
  • Feb 28, 2010 2:00pm Feb 28, 2010 2:00pm
Quoting Custos
Exactly what I am looking at, too. Good eyes
Great ...I'll setup a alarm a this level.
  • #4,813
  • Feb 28, 2010 2:01pm Feb 28, 2010 2:01pm
For some strange reason every time I switch to the W1 or D1 view of the EUR/CAD my chart disappears. The other time frames display fine. This is the only pair it happens with.

Anyone else have this problem with MIG?
  • #4,814
  • Feb 28, 2010 2:48pm Feb 28, 2010 2:48pm
Quoting PippyD
For some strange reason every time I switch to the W1 or D1 view of the EUR/CAD my chart disappears. The other time frames display fine. This is the only pair it happens with.

Anyone else have this problem with MIG?
I dont have MIG ....i recetly subscribed to FXCM and its working ok ...If you have a live account with MIG then you may want check with their technical dept

You may want to close the chart open it in defalt mode and check if its working ok that way apply the templates later.
  • #4,815
  • Feb 28, 2010 3:44pm Feb 28, 2010 3:44pm
Quoting MktScape
I dont have MIG ....i recetly subscribed to FXCM and its working ok ...If you have a live account with MIG then you may want check with their technical dept

You may want to close the chart open it in defalt mode and check if its working ok that way apply the templates later.
I thought it might be the template too but it does the same in default mode. Weird.
  • #4,816
  • Feb 28, 2010 4:30pm Feb 28, 2010 4:30pm
Quoting PippyD
What DID happen to Pip Dawg and EntropyLad? They must be tired by now.
I'm very flattered that you all missed me. I'm here...my work turned from a busy day to a busy week to a busy month. You know...when duty calls and all that crap.

I'm looking at all the trades I missed and putting together my watchlist for the week now.

I don't know what happened to Entropy??? Whatever it is I didn't do it!
  • #4,817
  • Feb 28, 2010 4:39pm Feb 28, 2010 4:39pm
Quoting Pip Dawg
I'm very flattered that you all missed me. I'm here...my work turned from a busy day to a busy week to a busy month. You know...when duty calls and all that crap.

I'm looking at all the trades I missed and putting together my watchlist for the week now.

I don't know what happened to Entropy??? Whatever it is I didn't do it!
yes we all were wondering what happened to both of you ... our guestimate was that you must be with Entropy at the Brazilian beach house having some fun and probably taken the nurse with you for some TLC.

If you didnt do anything to Entropy than I hope he hasnt got into an Entropic experiment ... we hope he is also doing ok and would return ...

Welcome Back
  • #4,818
  • Feb 28, 2010 4:59pm Feb 28, 2010 4:59pm
Quoting MktScape
yes we all were wondering what happened to both of you ... our guestimate was that you must be with Entropy at the Brazilian beach house having some fun and probably taken the nurse with you for some TLC.

If you didnt do anything to Entropy than I hope he hasnt got into an Entropic experiment ... we hope he is also doing ok and would return ...

Welcome Back
I checked and he hasn't posted since the 22nd so I don't think he adopted another thread. I sent him a PM. Hopefully he is ok...just spanking a nurse somewhere.
  • #4,819
  • Feb 28, 2010 5:05pm Feb 28, 2010 5:05pm
Quoting Pip Dawg
I checked and he hasn't posted since the 22nd so I don't think he adopted another thread. I sent him a PM. Hopefully he is ok...just spanking a nurse somewhere.
Yep....BTW have been some setups posted earlier for the upcoming week trading...that should get you up to the speed pretty fast.
  • #4,820
  • Feb 28, 2010 5:16pm Feb 28, 2010 5:16pm
Quoting MktScape
Yep....BTW have been some setups posted earlier for the upcoming week trading...that should get you up to the speed pretty fast.
Thanks MktScape...I'm going to go through the thread from last week just to catch up.
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