Trend Trading All Pairs | Page 251 | 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

  • #5,001
  • Edited 4:22am Mar 4, 2010 4:00am | Edited 4:22am
Quoting EntropyLad
That makes sense, i mean, why not? S/R levels are flip side of the same coin. Now, i am confused. i thought your question was about entry...now, it is about exit?
no, maybe I was not explaining myself well enough. I already can determine my entry levels using fibs, but where to place my inital stop?
I am thinking the fibs could lead me to a solution for placing the stop too.

The two charts hopefully explain better what I try to do. Between the 38.2 and the 50.0 level I put another set of smaller fibs. Now my idea is that if price doesn't respect the 38.2% right to the pip it will respect one of the smaller fibs and turn around. Thus these smaller fibs can maybe lead me to a good stop loss placement.
The second chart just shows only the 23.8% on each fib level. The thing is I was thinking that the smaller fibs especially 23.8% for now can lead to a good stop loss placement.
God, hope I didn't add to the confusion, just difficult to explain what I am trying to do.
By the way, my calculation for getting this smaller fib level 23.8% into my standard fib set are still off. Not sure what the right formula is.


Do you understand?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd d1 4.3.20102.gif Size: 29 KB
Click to Enlarge Name: eurusd d1 4.3.2010.gif Size: 29 KB
  • #5,002
  • Mar 4, 2010 4:04am Mar 4, 2010 4:04am
Quoting yunero
Thanks.. just curious on how to draw the pattern.. based on theory, the price (EURGBP) should break to upside, right?

p/s: i see the same pattern on GBPCHF H4
yes
in theory it should be valid if it breaks upwards

GBPCHF should have a bearish bias imo
  • #5,003
  • Mar 4, 2010 4:06am Mar 4, 2010 4:06am
Quoting EntropyLad
I can see the logic of what you are saying, but i will have to diverge. I mean, it make sense to place SL behind s/r levels on lower time frames. However, from my little observation, when you have such tight confluence of S/R, RN, FIB level within 15 pips or 10 pips of each other, with price coming to those levels with weaker momentum....i have yet to see a single case where price action exceeded that RN by 20 pips, either on the daily or h4.
Actually, my point was exactly that. My stops on h1 time-frame are normally around 10 pips away and on h4 around 15 to 20 pips. Just trying to say that you could increase your lot-size, if you can place tighter stops. No need to always stretch them out to 20 or 25 pips.
But anyways, just a suggestion. Of course my approach would involve bigger risk of getting stopped out, but there is always a trade-off.
  • #5,004
  • Mar 4, 2010 4:30am Mar 4, 2010 4:30am
Quoting Custos
can you post a chart on eur/usd? Which fib is coinciding with 1.3650? cause no matter how I draw them 1.3650 won't get touched by a fib. I am looking at the h4 chart.
hey, CUSTOS, our silly little EUR/USD has reached 1.3678, clearing the +20 pips minimum requirement from entry point 1.3650.

Anyways....still thinks LO is a good reason to avoid it....


On ENTRY with regards to using S/R levels on lower time frames....i get your point: i can tighten my SL by using the lower time frame S/R level...that will increase my R/R. thanks. I will have to demo that for a while.
  • #5,005
  • Mar 4, 2010 4:33am Mar 4, 2010 4:33am
Quoting EntropyLad
hey, CUSTOS, our silly little EUR/USD has reached 1.3678, clearing the +20 pips minimum requirement from entry point 1.3650.

Anyways....still thinks LO is a good reason to avoid it....


On ENTRY with regards to using S/R levels on lower time frames....i get your point: i can tighten my SL by using the lower time frame S/R level...that will increase my R/R. thanks. I will have to demo that for a while.
yeah, I agree, LO is always a little more dangerous. Yeah, thing is, the higher the R/R the more mistakes you can make.
  • #5,006
  • Mar 4, 2010 4:43am Mar 4, 2010 4:43am
Quoting Custos
no, maybe I was not explaining myself well enough. I already can determine my entry levels using fibs, but where to place my inital stop?
I am thinking the fibs could lead me to a solution for placing the stop too.

The two charts hopefully explain better what I try to do. Between the 38.2 and the 50.0 level I put another set of smaller fibs. Now my idea is that if price doesn't respect the 38.2% right to the pip it will respect one of the smaller fibs and turn around. Thus these smaller fibs can maybe lead me to a good stop loss placement....

I see. Now i think i get it. This is the daily chart EUR/USD...personally, i will prefer your idea of zooming to lower time frame(the area between the daily 38 and 50 fib level) and looking for a solid S/R to place my SL. If that S/R level also coincides with a micro fib level(like you've drawn in that chart), that is good and well too.

That is,

#1. If setup chart is daily and expected entry is at 38% fib on the daily.

#2. Look for the space between this daily 38% and 50% fib, and zoom into lower time frame to look for area of S/R.

#3. Look to draw a micro fib inside the daily 38 to 50. Using the daily 38% fib as 0 and daily 50% fib as 100.

#4. See if the S/R level on the lower time frame matches or closely correlates to these micro fib levels.

#5 Place SL behind the one that closely correlates.


Did i get your reasoning, here, CUSTOS?
  • #5,007
  • Mar 4, 2010 4:56am Mar 4, 2010 4:56am
Exactly, I would just use them as guides.
Quoting EntropyLad
I see. Now i think i get it. This is the daily chart EUR/USD...personally, i will prefer your idea of zooming to lower time frame(the area between the daily 38 and 50 fib level) and looking for a solid S/R to place my SL. If that S/R level also coincides with a micro fib level(like you've drawn in that chart), that is good and well too.

That is,

#1. If setup chart is daily and expected entry is at 38% fib on the daily.

#2. Look for the space between this daily 38% and 50% fib, and zoom into lower time frame to look for area of S/R.

#3....
  • #5,008
  • Mar 4, 2010 5:00am Mar 4, 2010 5:00am
Quoting EntropyLad
i am hating USD/CAD 1hr/15mins right now.....
Yeah, indeed. I am hating it even more by the minute....here is why:

USD/CAD 1hr/15mins

http://www.forexfactory.com/attachme...1&d=1267700359
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 34 KB
  • #5,009
  • Mar 4, 2010 5:08am Mar 4, 2010 5:08am
Quoting EntropyLad
EUR/USD at 1.3650 and EUR/AUD at 1.5200 are such obvious TT points it is not even funny. But LONDON open can cause such zigzags, as such, i had to let them go....anyways, you cant win them all....

EDIT: EUR/AUD already reached +20, +25 pips...oh well...it is better to err on the side of caution.

EDIT: Who knows...maybe i will get another shot at them with a 1, 2, 3 formation.

Anybody seeing anything interesting?
OK, silly question time? How did you identify the 1.5200 level on the EUR/AUD. Fib level, round no.?
  • #5,010
  • Mar 4, 2010 5:20am Mar 4, 2010 5:20am
Quoting Andy_G
OK, silly question time? How did you identify the 1.5200 level on the EUR/AUD. Fib level, round no.?
Very simply, PIP DAWG told me.
He likes to dress up as a "suicide bomber vest wearer/forex trader". You dont believe me? Here is the proof:

http://www.forexfactory.com/attachme...1&d=1267701584
Attached Image
  • #5,011
  • Mar 4, 2010 5:48am Mar 4, 2010 5:48am
Quoting EntropyLad
Yeah, indeed. I am hating it even more by the minute....here is why:

USD/CAD 1hr/15mins

http://www.forexfactory.com/attachme...1&d=1267700359

If it is any consolation...the trade worked.

http://www.forexfactory.com/showpost...postcount=5008


http://www.forexfactory.com/attachme...1&d=1267703214
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad ii.gif Size: 26 KB
  • #5,012
  • Mar 4, 2010 6:15am Mar 4, 2010 6:15am
Quoting EntropyLad
Very simply, PIP DAWG told me.
He likes to dress up as a "suicide bomber vest wearer/forex trader". You dont believe me? Here is the proof:

http://www.forexfactory.com/attachme...1&d=1267701584
...LMFAO.........

--NM
  • #5,013
  • Mar 4, 2010 6:39am Mar 4, 2010 6:39am
[quote=EntropyLad;3520881]Very simply, PIP DAWG told me.
He likes to dress up as a "suicide bomber vest wearer/forex trader". You dont believe me? Here is the proof:

EntropyLad - we should use this man to scare the LOB's into compliance!
  • #5,014
  • Mar 4, 2010 6:43am Mar 4, 2010 6:43am
There is a DHLC at USDJPY 1H chart..good for short...good looking downtrend. A few minute untill candle closes.
  • #5,015
  • Mar 4, 2010 7:00am Mar 4, 2010 7:00am
Quoting iezzzwan
There is a DHLC at USDJPY 1H chart..good for short...good looking downtrend. A few minute untill candle closes.
Thats not a bad looking set up thanks for the heads up on that....

--NM
  • #5,016
  • Mar 4, 2010 7:00am Mar 4, 2010 7:00am
Quoting iezzzwan
There is a DHLC at USDJPY 1H chart..good for short...good looking downtrend. A few minute untill candle closes.
You mean, H1/15MINS, short? Yeah. entry at 88.37. But, how about the news? coming out soon. red-labeled news for the USD. Unemployment claims.

I will have to pass.
  • #5,017
  • Mar 4, 2010 7:09am Mar 4, 2010 7:09am
Quoting EntropyLad
You mean, H1/15MINS, short? Yeah. entry at 88.37. But, how about the news? coming out soon. red-labeled news for the USD. Unemployment claims.

I will have to pass.
You are correct, I never trade this close to news time, but we will see how the news effects this. Still a nice down trend at the moment...

--NM
  • #5,018
  • Mar 4, 2010 7:10am Mar 4, 2010 7:10am
Yup ur right. No entry for now.
  • #5,019
  • Mar 4, 2010 7:15am Mar 4, 2010 7:15am
Quoting EntropyLad
Very simply, PIP DAWG told me.
He likes to dress up as a "suicide bomber vest wearer/forex trader". You dont believe me? Here is the proof:

http://www.forexfactory.com/attachme...1&d=1267701584
Where did you get this picture of me in my forex trading "pip milking" outfit?
  • #5,020
  • Mar 4, 2010 7:29am Mar 4, 2010 7:29am
Quoting Pip Dawg
Where did you get this picture of me in my forex trading "pip milking" outfit?
Pip Dawg,
Looks like you have been working out...

--NM
23 traders viewing now