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Trend Trading All Pairs

  • #5,101
  • Mar 8, 2010 8:40am Mar 8, 2010 8:40am
Quoting Ibz
Hi All ,

As per Shahroor question ,So how many of you wll still think its a valid trade if the TRENDLINE is breached ?

As for me , I would like to see price drop back below the trendline before I consider any trades . However , history shows that its still a valid trade .
imo a trendline breach by itself is not enough to take a trade. Markets are not perfect and trendlines get breached. I need more assurance than a trend line breach. I like to see a retest of the trend line after it gets breached. And it also depends greatly on where the trend line breach has occured, some time lines will get breached as the line may fall between a S/R level and price is actually heading for that level.

So a breach on its own is not enough for me but thats just me and others may have a different opinion on that.

--NM
  • #5,102
  • Mar 8, 2010 8:57am Mar 8, 2010 8:57am
Quoting NightMoves
imo a trendline breach by itself is not enough to take a trade. Markets are not perfect and trendlines get breached. I need more assurance than a trend line breach. I like to see a retest of the trend line after it gets breached. And it also depends greatly on where the trend line breach has occured, some time lines will get breached as the line may fall between a S/R level and price is actually heading for that level.

So a breach on its own is not enough for me but thats just me and others may have a different opinion on that.

--NM

This was my point yesterday: what are your personal rules? If the trade is valid, take it; if it is not, dont take it. Stop looking for others to make the decision for you. It is almost like dealing with those coy babes at the bar/nightclub....you cannot tell them to come to your place and simply get it on,...no, no, even if that is what they want to do....you have to say "i have a X vintage music collection at my place, autographed by the maestro himself, come and check it out".

So, when they finally get into your apartment ....and now completely without their clothes...they can claim "we were innocently checking out music, then some wine,... and one thing lead to another....before you know it....we were clawing at each other like animals...".

Plausible deniability.

If trendline breaks is a reason to not take a trade, then, dont. if countertrend setup is a reason to not take a trade, then, dont. Stop looking for justification to take a trade you feel/know you shouldnt take under the guise of "learning" or "sharing ideas".

Tease!

I wont be surprised if "shahoor" is a woman....
  • #5,103
  • Mar 8, 2010 9:05am Mar 8, 2010 9:05am
Quoting EntropyLad
This was my point yesterday: what are your personal rules? If the trade is valid, take it; if it is not, dont take it. Stop looking for others to make the decision for you. It is almost like dealing with those coy babes at the bar/nightclub....you cannot tell them to come to your place and simply get it on,...no, no, even if that is what they want to do....you have to say "i have a X vintage music collection at my place, autographed by the maestro himself, come and check it out".

So, when they finally get into your apartment ....and now completely...
For the people that are learning a trend line break always looks good, and many of them feel that is enough to trade in the direction of the break, and maybe it is, but I like to make sure there is a confirmation that the break is not a false breakout as so many times happens, and then of course one gets hit with a loss. I also only trade breakouts in the direction of the trend and only after I get some kind of retest, whether it be an actual retest or a good BPC, I just do not rust the break out without confirmation that it is going to follow through.

--NM
  • #5,104
  • Mar 8, 2010 9:12am Mar 8, 2010 9:12am
Quoting EntropyLad
This was my point yesterday: what are your personal rules? If the trade is valid, take it; if it is not, dont take it....
man you made a story out of it, you seem to be irritated by my question...
anyway that doesnt put me off asking again
  • #5,105
  • Mar 8, 2010 9:20am Mar 8, 2010 9:20am
Quoting shahroor
man you made a story out of it, you seem to be irritated by my question...
anyway that doesnt put me off asking again
It is really this simple: Are you brazilian?
  • #5,106
  • Mar 8, 2010 9:50am Mar 8, 2010 9:50am
Some charts looking real good for short . we should focus on it .
  • #5,107
  • Mar 8, 2010 10:00am Mar 8, 2010 10:00am
Quoting Ibz
Some charts looking real good for short . we should focus on it .
I am short in the GBPCHF pair, I entered off the 5 minute trigger this time around. I am not sure how far it will go, I know how far I want it to go...Hahaha but my SL is at BE and only up 20 pips at the moment, so this might work or it might not, and I may have too look at a re-entry..

--NM
  • #5,108
  • Mar 8, 2010 10:06am Mar 8, 2010 10:06am
Quoting NightMoves
I am short in the GBPCHF pair, I entered off the 5 minute trigger this time around. I am not sure how far it will go, I know how far I want it to go...Hahaha but my SL is at BE and only up 20 pips at the moment, so this might work or it might not, and I may have too look at a re-entry..

--NM

Looks great but my worry is ADR=133=today's movement . Any room left for today ?
  • #5,109
  • Mar 8, 2010 10:09am Mar 8, 2010 10:09am
Quoting Ibz
Looks great but my worry is ADR=133=today's movement . Any room left for today ?
I got in and there was 68 pips left when I entered. Here is the 5 min trigger chart.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 5 minute trigger.png Size: 29 KB
  • #5,110
  • Mar 8, 2010 10:12am Mar 8, 2010 10:12am
Quoting NightMoves
I got in and there was 68 pips left when I entered. Here is the 5 min trigger chart.

--NM
I was hoping to get to around the 1.6100 level before taking anything out of this, not sure it will happen or not.

--NM
  • #5,111
  • Mar 8, 2010 10:20am Mar 8, 2010 10:20am
Quoting NightMoves
I was hoping to get to around the 1.6100 level before taking anything out of this, not sure it will happen or not.

--NM

Looks like it will move a lot more next day or 2 . hope our trade plan works out well .
  • #5,112
  • Mar 8, 2010 10:23am Mar 8, 2010 10:23am
Quoting Ibz
Looks like it will move a lot more next day or 2 . hope our trade plan works out well .

My TP is 1.6010 . 10 pips b4 RN . HA HA
  • #5,113
  • Mar 8, 2010 10:29am Mar 8, 2010 10:29am
Quoting Ibz
Looks like it will move a lot more next day or 2 . hope our trade plan works out well .
I halfed out at 40 pips, so now I will just kind of watch it and see what it does, so at least I got something out of it. Not the best setup n the world but it did hand out a few pips, I would have like to see it retrace a little further before heading back down but pips are pips.

--NM
  • #5,114
  • Mar 8, 2010 10:31am Mar 8, 2010 10:31am
Quoting Ibz
My TP is 1.6010 . 10 pips b4 RN . HA HA
I got stopped on the second half for no pips at all. it was not the greatest setup so I got a few pips off the momentum I guess.

--NM
  • #5,115
  • Mar 8, 2010 10:35am Mar 8, 2010 10:35am
Quoting Ibz
My TP is 1.6010 . 10 pips b4 RN . HA HA
Looks like a much better setup taking place on the GBPJPY 4 hour chart.

--NM
  • #5,116
  • Mar 8, 2010 10:39am Mar 8, 2010 10:39am
Had I seen this earlier I would have taken the trade off the HnS formation right off the trend line,so now I will wait for for the bpc of the counter trend line.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hour setup chart.png Size: 43 KB
  • #5,117
  • Mar 8, 2010 10:47am Mar 8, 2010 10:47am
Quoting NightMoves
Looks like a much better setup taking place on the GBPJPY 4 hour chart.

--NM


You really like to TRENDLINE bounce .
  • #5,118
  • Mar 8, 2010 10:57am Mar 8, 2010 10:57am
Quoting Ibz
You really like to TRENDLINE bounce .
Well no not really, look where the trend line is, right at a RN, in the Fib window, in a nice down trend, and the HnS at those S/R levels are very good reversal patterns to trade from. I would have traded it down to the counter trend line, and then managed it from there.

It would be nice if there a previous swing low right there but there is not. So again it is not an A+ setup but still a good setup. The A+ Setups have everything coming together in that one spot imo.

--NM
  • #5,119
  • Edited 11:12am Mar 8, 2010 11:02am | Edited 11:12am
Quoting NightMoves
Had I seen this earlier I would have taken the trade off the HnS formation right off the trend line,so now I will wait for for the bpc of the counter trend line.

--NM
I missed the first move too - but the 1hr just gave a nice pullback, 15mins show a retest of CTL... patiently waiting to see whats gonna happen

EDIT: Retest on 1hr now under construction, lets see what happens
  • #5,120
  • Mar 8, 2010 11:15am Mar 8, 2010 11:15am
Quoting Paulette
I missed the first move too - but the 1hr just gave a nice pullback, 15mins show a retest of CTL... patiently waiting to see whats gonna happen
I would wait for good confirmation off the counter trend line before getting into that trade. There is roughly 50 pips left on the ADR, but what I have noticed lately is that this late in the trading trading session seems like 25 pip moves seem to be the target.

I have my doubts that this will hit the ADR today, I might be wrong but I really think I am going to wait on somewhat on this pair. It is respecting the trend line for the moment.

--NM
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