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Trend Trading All Pairs

  • #5,301
  • Mar 11, 2010 8:42am Mar 11, 2010 8:42am
Hey guys n gals,

Turns out im looking for work in the afternoons, so my "full-time education" is over for good pretty much.

Im very likely going to be away all afternoon from charts which limits me a lot with regards to setups i can take on a recurring and constant basis.

So, i have decided to focus exclusively on L.O.B and E.O.D trades.

Any suggestions or advice would be truly appreciated.

Thanks a lot.

Keep this solid thread going! Its definetely one...if not THE BEST thread going here IMHO.

Thanks.

Pip
  • #5,302
  • Mar 11, 2010 8:59am Mar 11, 2010 8:59am
Quoting EntropyLad
GBP/NZD H4 again. 2.1400 at 38% fib and 2.1600 at 61% fib. Of course, as per my rule, always go for the 2nd level. i prefer 61% fib = 2.1600. Besides, the daily indicated a dragonfly doji formation. A bullish reversal signal.



Are you out of your short at GBP/NZD? Or still in? I have been out of mine.
I closed all my trades on demo yesterday and moved to Live account..

My EJ was stopped out for +5, renetred at 123.8 now free run as well...
so not a bad start so far
  • #5,303
  • Mar 11, 2010 9:14am Mar 11, 2010 9:14am
Quoting Paulette
tell me about it - no more... another day another time
now its turning down again. I hate to trade like this. Spike! Spike!

Better wait for GBP/AUD >> http://www.forexfactory.com/showpost...postcount=5267
http://cdn.forexfactory.com/attachme...6&d=1268278541
Trend + S&R + RR =
  • #5,304
  • Mar 11, 2010 9:23am Mar 11, 2010 9:23am
Quoting EntropyLad
GBP/NZD H4 again. 2.1400 at 38% fib and 2.1600 at 61% fib. Of course, as per my rule, always go for the 2nd level. i prefer 61% fib = 2.1600. Besides, the daily indicated a dragonfly doji formation. A bullish reversal signal.



Are you out of your short at GBP/NZD? Or still in? I have been out of mine.
I have been waiting for the 61.8% fib too on GBPNZD, looks like a good confluence of resistance at that level..
by the way would you look that far back on the chart to find resistance/support level that might support your target entries, Looking at my chart it was a resistance area back in Jan
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_08 Mar. 11 15.19.gif Size: 25 KB
  • #5,305
  • Edited 3:24pm Mar 11, 2010 9:38am | Edited 3:24pm
Quoting Pipalicious
Hey guys n gals,

Turns out im looking for work in the afternoons, so my "full-time education" is over for good pretty much.

Im very likely going to be away all afternoon from charts which limits me a lot with regards to setups i can take on a recurring and constant basis.

So, i have decided to focus exclusively on L.O.B and E.O.D trades.

Any suggestions or advice would be truly appreciated.

Thanks a lot.

Keep this solid thread going! Its definetely one...if not THE BEST thread going here IMHO.

Thanks.

Pip
Well, I wouldn't limit myself necessarily to LOB's exclusively (not sure what you mean by EOD), you can also go with the longer time-frames (h4 up to monthly) to catch some trades there hector style.
And don't forget the touch trades, beauty of them being that you can set all your levels in the morning with a limit order, go away and at night you come back and find yourself hopefully in profit, not stopped out. Of course you need a broker allowing for mulitple order entries, so you can predefine stop loss and targets.
Other than that, have fun working in the afternoons!
  • #5,306
  • Mar 11, 2010 12:33pm Mar 11, 2010 12:33pm
Too sleepy now.. can't hold anymore. Some trades already hit TP and TSL. I'm just entered bpc trade on EU & UCHF again a few hours ago. Also already placed my sell limit on GBP/AUD. I leave my trade open but already set an alert on some level. Good night everyone!

Happy trading..
Trend + S&R + RR =
  • #5,307
  • Mar 11, 2010 3:22pm Mar 11, 2010 3:22pm
no idea why, but I missed a really good setup on the gbp/cad. Could bite myself in my ass. But today I was travelling, so didn't have so much time watching the markets.
I hope somebody else got into that trade?
Attached is gbp/cad h4.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad h4 11.3.2010.gif Size: 23 KB
  • #5,308
  • Mar 11, 2010 4:18pm Mar 11, 2010 4:18pm
Sometimes, yeah. In a discussion with custos yesterday, i had to go to the weekly chart to get a good view of EUR/USD. You look at everything, then you make a judgment call as to what is important or not.

Also, sometimes, switching to LINE CHART in metatrader can help visualizes S/R level better. Try it. (the three levels available in metatrader: barchart, candlesticks, line Chart.)

Quoting shahroor
I have been waiting for the 61.8% fib too on GBPNZD, looks like a good confluence of resistance at that level..
by the way would you look that far back on the chart to find resistance/support level that might support your target entries, Looking at my chart it was a resistance area back in Jan
  • #5,309
  • Mar 11, 2010 4:28pm Mar 11, 2010 4:28pm
Quoting Custos
no idea why, but I missed a really good setup on the gbp/cad. Could bite myself in my ass. But today I was travelling, so didn't have so much time watching the markets.
I hope somebody else got into that trade?
Attached is gbp/cad h4.
I didnt. My preference was the 50% fib and its 1.5450 rn, but the breakout candle at 7am london time was too strong a momentum(one single candle to reach that point -- too fast for me. Violates rule #5.). So, i have to let that pass.

the next level was the 61% fib at 1.5482, while the momentum died down as it gets there(it took two candles to reach 61% fib), however, the distance of the 61% fib at 1.5482 was 18 pips below the next RN(1.5500) this violates my maximum 15 pips distance(rule # 3). I have to let that level go too. Besides, my entry would have been at 1.5495 anyways(rule #6), which it didnt even get to.

As such, I can only trade this from the 1, 2, 3/bpc formation trade...which is still forming....
  • #5,310
  • Mar 11, 2010 4:57pm Mar 11, 2010 4:57pm
NZD/CAD D/H4 is getting ripe:

http://www.forexfactory.com/attachme...1&d=1268348234
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD dailyH4.gif Size: 33 KB
  • #5,311
  • Mar 11, 2010 5:19pm Mar 11, 2010 5:19pm
Quoting EntropyLad
Also, sometimes, switching to LINE CHART in metatrader can help visualizes S/R level better. Try it. (the three levels available in metatrader: barchart, candlesticks, line Chart.)
I started doing the same thing recently. It really does reduce the "clutter" and the levels are easier to pick out.

The longer I do this the more I take OFF my charts.
  • #5,312
  • Edited 5:41pm Mar 11, 2010 5:30pm | Edited 5:41pm
Quoting EntropyLad
EUR/AUD is getting ready for a 1, 2, 3, bpc.
This pair seemed to meander a bit today rather than moving with much momentum. The resistance at 1.496 is holding up so far. Consolidated into a range just beneath there on the H1. Took a small loss expecting more downward movement.

But it still seems like a decent setup. I'm watching for a breakout of this little range.

Upside seems dicey though. Counter trend, about to bump into the D1 trend line, and more resistance at 1.500. Would probably only take something short.

Thoughts?

Edit: Have I learned nothing? How about I just wait for it to work back up to the confluence at 1.500? My Fib wasn't on the right swing the first time.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUD 3-11-2010 16-21-03.jpg Size: 117 KB
Click to Enlarge Name: EURAUD H4 3-11-2010 16-37-07.jpg Size: 93 KB
  • #5,313
  • Edited 10:02pm Mar 11, 2010 9:23pm | Edited 10:02pm
Quoting Custos
no idea why, but I missed a really good setup on the gbp/cad. Could bite myself in my ass. But today I was travelling, so didn't have so much time watching the markets.
I hope somebody else got into that trade?
Attached is gbp/cad h4.
I didn't take that. PA is too fast for me.
Attached Image (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 12, 2010_ 12.01.gif Size: 17 KB
Trend + S&R + RR =
  • #5,314
  • Mar 11, 2010 10:50pm Mar 11, 2010 10:50pm
Quoting yunero
Too sleepy now.. can't hold anymore. Some trades already hit TP and TSL. I'm just entered bpc trade on EU & UCHF again a few hours ago. Also already placed my sell limit on GBP/AUD. I leave my trade open but already set an alert on some level. Good night everyone!

Happy trading..
Yehaa! EU is trying to break the trendline. UCHF is approaching support @ 1.0646.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 12, 2010_ 12.48.gif Size: 19 KB
Click to Enlarge Name: Yunero_ Mar. 12, 2010_06 12.48.gif Size: 21 KB
Trend + S&R + RR =
  • #5,315
  • Mar 11, 2010 11:07pm Mar 11, 2010 11:07pm
Where is everybody?..a bit quite here today.. Nothing moves much on EUR/AUD and GBP/AUD now.. I'll be back on london session
Trend + S&R + RR =
  • #5,316
  • Mar 11, 2010 11:41pm Mar 11, 2010 11:41pm
Quoting yunero
Where is everybody?..a bit quite here today.. Nothing moves much on EUR/AUD and GBP/AUD now.. I'll be back on london session
This whole week has been quiet. It gets eerie in here sometimes.
  • #5,317
  • Mar 12, 2010 12:05am Mar 12, 2010 12:05am
Quoting yunero
Where is everybody?..a bit quite here today.. Nothing moves much on EUR/AUD and GBP/AUD now.. I'll be back on london session
Sorry man, as you can see, i have been quite busy lately....

http://i2.photobucket.com/albums/y28/cesarnc/bbq.jpg
  • #5,318
  • Mar 12, 2010 12:24am Mar 12, 2010 12:24am
Quoting PippyD
I started doing the same thing recently. It really does reduce the "clutter" and the levels are easier to pick out.

The longer I do this the more I take OFF my charts.
Indeed, "line CHART" picks out the most obvious S/R levels. It just nakedly prints it.

UPDATE: Scan the LOBs...seems that EUR/USD and USD/CHF are breaking out...already broke out outside of LOB time frame....oh well. YUNERO probably nailed this one, again.
  • #5,319
  • Mar 12, 2010 1:30am Mar 12, 2010 1:30am
Just got into a kind of LOB TT mix trade.
Attached is gbp/cad. My entry was at the pullback after the breakout. 50% taken off, stop at b/e.

Attached is gbp/cad m15 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad m15 12.3.2010.gif Size: 29 KB
  • #5,320
  • Mar 12, 2010 2:50am Mar 12, 2010 2:50am
Quoting yunero
Yehaa! EU is trying to break the trendline. UCHF is approaching support @ 1.0646.
Already locked some pips now.. Look at weekly candle..
Trend + S&R + RR =
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