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Trend Trading All Pairs

  • #5,121
  • Mar 8, 2010 11:25am Mar 8, 2010 11:25am
Hello guys..

Just found 1 setup before i sleep.. I think NZD/CAD is good to short..
Attached Image (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 09, 2010_ 01.18.gif Size: 19 KB
Trend + S&R + RR =
  • #5,122
  • Mar 8, 2010 11:36am Mar 8, 2010 11:36am
Quoting yunero
Hello guys..

Just found 1 setup before i sleep.. I think NZD/CAD is good to short..
That looks like a good setup, I do not have that on my MT4 platform but I have it on my live account here is the 4 hour chart. Anyone know what the ADR is on that pair?

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD 4 hour.png Size: 38 KB
  • #5,123
  • Mar 8, 2010 11:38am Mar 8, 2010 11:38am
Quoting NightMoves
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
I agree.. 138.00 level is the best place to short.. UJ is not supporting GJ moves right now and likely its going to upside..
Attached Image (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 09, 2010_ 01.30.gif Size: 19 KB
Trend + S&R + RR =
  • #5,124
  • Mar 8, 2010 11:45am Mar 8, 2010 11:45am
Quoting yunero
I agree.. 138.00 level is the best place to short.. UJ is not supporting GJ moves right now and likely its going to upside..
The 138 level is what I have targeted too, so we will see if it gets back up there.

--NM
  • #5,125
  • Mar 8, 2010 11:59am Mar 8, 2010 11:59am
Quoting NightMoves
That looks like a good setup, I do not have that on my MT4 platform but I have it on my live account here is the 4 hour chart. Anyone know what the ADR is on that pair?

--NM
ADR = 70 with CDR @ 44...
  • #5,126
  • Mar 8, 2010 12:02pm Mar 8, 2010 12:02pm
Quoting Paulette
ADR = 70 with CDR @ 44...
OK thanks Paulette,
That is a slow moving pair. But those kinds of pairs still hand out plenty of pips. It just takes a little longer.

--NM
  • #5,127
  • Mar 8, 2010 1:07pm Mar 8, 2010 1:07pm
Quoting hytten
May i know why you think it will break to the downside? From multiple doji from weekly?
yeah, that is one reason, but the major reason is that we have a trendline coming down on the weekly chart.
Of course in trading nothing is for sure, but weekly trendlines are difficult to break. (for other readers, we talk about usd/chf)
  • #5,128
  • Mar 8, 2010 4:22pm Mar 8, 2010 4:22pm
Quoting hytten
Looking to trade rejection of 138.22
Market started to reverse so I enter the trade @ 136.90 close with 117 pip
  • #5,129
  • Mar 8, 2010 5:02pm Mar 8, 2010 5:02pm
Quoting hytten
Market started to reverse so I enter the trade @ 136.90 close with 117 pip
Nothing wrong with that, it is having some trouble reaching that 138 level so if it wants to go the other way then go with it....Hahahaha nice trade..

--NM
  • #5,130
  • Edited 7:23pm Mar 8, 2010 7:19pm | Edited 7:23pm
I thought I would post a new trade that I am in. GBPJPY I did not get in right where I wanted but it is pretty close. Final target still some distance away. So we will see how it goes.

--NM

Update: SL at BE, partial profit taken at 51 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min trigger.png Size: 42 KB
  • #5,131
  • Mar 8, 2010 7:52pm Mar 8, 2010 7:52pm
Quoting NightMoves
Nothing wrong with that, it is having some trouble reaching that 138 level so if it wants to go the other way then go with it....Hahahaha nice trade..

--NM
It wasn't an easy decision. GJ has large swing many times see my profit goes the other way. I have decided my way of doing it is to take my profit and run and enter again on lower time frame when it retrace.

Actually had bigger TP but was going to sleep so smaller profit is better than nasty surprise. NY session kills my trades many times haha.
  • #5,132
  • Mar 8, 2010 8:00pm Mar 8, 2010 8:00pm
Quoting hytten
It wasn't an easy decision. GJ has large swing many times see my profit goes the other way. I have decided my way of doing it is to take my profit and run and enter again on lower time frame when it retrace.

Actually had bigger TP but was going to sleep so smaller profit is better than nasty surprise. NY session kills my trades many times haha.
Hahahaha, I know I hate those nasty suprises too, I am not big fan of just entering off the S/R level unless I get a good confirmation that I am going to score some pips off it.

That is why I wait for a retest of a counter trend line, many times I could have entered trades much sooner, and then again many times if I had entered it would have scored a loss, so I will trade the conservative way and wait for confirmation, it has kept me going for several years now trading that way, no reason for me to change it now.

--NM
  • #5,133
  • Mar 8, 2010 8:12pm Mar 8, 2010 8:12pm
Quoting NightMoves
I thought I would post a new trade that I am in. GBPJPY I did not get in right where I wanted but it is pretty close. Final target still some distance away. So we will see how it goes.

--NM

Update: SL at BE, partial profit taken at 51 pips
Can you educate me as to why you enter on 15 min chart for a 4H setup. I asked coz many times when i tried doing that I got stopped out perhaps my SL was based on 15min and it was way too tight. How wide was your stop?
  • #5,134
  • Mar 8, 2010 8:13pm Mar 8, 2010 8:13pm
Quoting NightMoves
I thought I would post a new trade that I am in. GBPJPY I did not get in right where I wanted but it is pretty close. Final target still some distance away. So we will see how it goes.

--NM

Update: SL at BE, partial profit taken at 51 pips
May have a problem pushing thro the big RN 135
lets hope it still does have the energy
  • #5,135
  • Mar 8, 2010 8:17pm Mar 8, 2010 8:17pm
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 believe this is the 1H chart that you could have labeled 4H

the HnS wont be so define in the 4H
  • #5,136
  • Mar 8, 2010 8:21pm Mar 8, 2010 8:21pm
Quoting hytten
Can you educate me as to why you enter on 15 min chart for a 4H setup. I asked coz many times when i tried doing that I got stopped out perhaps my SL was based on 15min and it was way too tight. How wide was your stop?
HI Hytten,
Many times I will zoom in a little closer ot the action, normally I will zoom to time frame 4 times smaller than my setup chart, but other times I will zoom in as much as 6 times smaller.

In this particular case we were retesting the trend line from below and it was now acting as resistance as opposed to acting support previously. I zoomed into the small time frame to get a better look at the price action taking place during that retest.

Think of it like this, if you were trading the daily chart, your trigger would be the 4 hour chart most likey, which is 6 times smaller than the daily. I do not use that 6 time smaller method for all trades but when price action is clearly trending and the counter trend line is breached and retested as this was it is pretty accurate. I also had plenty of room before the next RN so I did not have to wait for it to clear that round number. Make sense?

--NM
  • #5,137
  • Mar 8, 2010 8:22pm Mar 8, 2010 8:22pm
Quoting A 5
i believe this is the 1H chart that you could have labeled 4H

the HnS wont be so define in the 4H
Yep you are correct, I have the chart labeled incorrectly that is the 1 hour chart. Sorry about that.

--NM
  • #5,138
  • Mar 8, 2010 8:23pm Mar 8, 2010 8:23pm
Quoting A 5
May have a problem pushing thro the big RN 135
lets hope it still does have the energy
Yes there is some brush to clear, so it has some work to do to get to my next target, and of course it may not get there either, so we will see how it goes.

--NM
  • #5,139
  • Mar 8, 2010 8:27pm Mar 8, 2010 8:27pm
Quoting NightMoves
HI Hytten,
Many times I will zoom in a little closer ot the action, normally I will zoom to time frame 4 times smaller than my setup chart, but other times I will zoom in as much as 6 times smaller.

In this particular case we were retesting the trend line from below and it was now acting as resistance as opposed to acting support previously. I zoomed into the small time frame to get a better look at the price action taking place during that retest.

Think of it like this, if you were trading the daily chart, your trigger would be the 4 hour...
Got it. Makes sense. I think the problem at least for me is having to track so many chart at different time frame while working.. Shhh don;t tell my boss haha.
  • #5,140
  • Mar 8, 2010 8:31pm Mar 8, 2010 8:31pm
Quoting A 5
May have a problem pushing thro the big RN 135
lets hope it still does have the energy
If it can get through this brush pile I will feel much better about my next target being hit.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Brush Pile.png Size: 50 KB
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