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Trend Trading All Pairs

  • #5,521
  • Mar 17, 2010 10:26pm Mar 17, 2010 10:26pm
Well, i'm attached another chart. As you can see if we break 1.6760, the next resistance should be @ 1.7055. There is a gap below that level. In theory the gap must be close, but don't know when. Looks like the possibility it will be close this time is high because the confluence with S&R level.
Attached Image (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 18, 2010_ 11.20.gif Size: 12 KB
Trend + S&R + RR =
  • #5,522
  • Mar 18, 2010 12:48am Mar 18, 2010 12:48am
Attached Image (click to enlarge)
Click to Enlarge Name: Real_kaboom_by_MamonnA.jpg Size: 143 KB
Trend + S&R + RR =
  • #5,523
  • Mar 18, 2010 1:12am Mar 18, 2010 1:12am
Quoting yunero
yup, it just went off before London opens
  • #5,524
  • Mar 18, 2010 1:45am Mar 18, 2010 1:45am
Quoting yunero
well done Yunero...
  • #5,525
  • Mar 18, 2010 6:44am Mar 18, 2010 6:44am
Quoting Paulette
well done Yunero...
Thanks

But PA is crazy today
Attached Image
Trend + S&R + RR =
  • #5,526
  • Mar 18, 2010 7:00am Mar 18, 2010 7:00am
Quoting yunero
Thanks

But PA is crazy today
Thats an understatement, risky trades in all directions right now.

--NM
  • #5,527
  • Mar 18, 2010 7:12am Mar 18, 2010 7:12am
Quoting NightMoves
HI Magnes,
That GBPCHF pair is not in a reliable trend pattern imo, it is what I call a wild trend, and yes even though it is trending down, it is not really respecting any S/R levels with any consistency, I have been avoiding that pair because of that. And of course the news release just messed it up even more.

--NM
NightMoves, EntropyLad thanks for your comments.

NightMoves, what should be the trend before you enter the trade?

Thanks,
Magnes
  • #5,528
  • Mar 18, 2010 7:29am Mar 18, 2010 7:29am
Quoting Magnes
NightMoves, EntropyLad thanks for your comments.

NightMoves, what should be the trend before you enter the trade?

Thanks,
Magnes
I try and avoid trends that have larger then normal over shoots and i like to see them consistent with the confluence of S/R, fibs...etc, that particular pair has had some large overshoots and turn arounds in unexpected areas, and for me there are more consistent trends to trade with a much lower risk. Wild trends like that can be traded but you need overly wide stops to trade them and I do not think it is necessary to have overly wide stops.

Some of the pairs out here lately are getting kind of wild they need to settle down a little bit before I jump in.

--NM
  • #5,529
  • Mar 18, 2010 7:33am Mar 18, 2010 7:33am
Quoting NightMoves
I try and avoid trends that have larger then normal over shoots and i like to see them consistent with the confluence of S/R, fibs...etc, that particular pair has had some large overshoots and turn arounds in unexpected areas, and for me there are more consistent trends to trade with a much lower risk. Wild trends like that can be traded but you need overly wide stops to trade them and I do not think it is necessary to have overly wide stops.

Some of the pairs out here lately are getting kind of wild they need to settle down a little bit before...
And I suppose the fact that I am a very conservative trader and do not want to take any unnecessary risks has something to do with that too, sometimes i am too picky but it has kept me around for quite a long time.

--NM
  • #5,530
  • Mar 18, 2010 7:36am Mar 18, 2010 7:36am
Quoting NightMoves
And I suppose the fact that I am a very conservative trader and do not want to take any unnecessary risks has something to do with that too, sometimes i am too picky but it has kept me around for quite a long time.

--NM
But I am in 2 trades at the moment, the Kiwi/$ and the GJ I am long on the Kiwi and Short on the GJ.

--NM
  • #5,531
  • Edited 8:23am Mar 18, 2010 8:12am | Edited 8:23am
Quoting NightMoves
But I am in 2 trades at the moment, the Kiwi/$ and the GJ I am long on the Kiwi and Short on the GJ.

--NM
Hahaha GJ got stopped out for 12 pips, dam that was not worth pushing the mouse button...

--NM

Now I remember why I dont range trade....
  • #5,532
  • Mar 18, 2010 8:17am Mar 18, 2010 8:17am
Quoting NightMoves
But I am in 2 trades at the moment, the Kiwi/$ and the GJ I am long on the Kiwi and Short on the GJ.

--NM
What timeframe GJ?
  • #5,533
  • Edited 8:44am Mar 18, 2010 8:27am | Edited 8:44am
Here is the setup chart for the NZDUSD trade. We will see how it goes,.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: H1 setup.jpg Size: 213 KB
  • #5,534
  • Mar 18, 2010 9:59am Mar 18, 2010 9:59am
Quoting NightMoves
Here is the setup chart for the NZDUSD trade. We will see how it goes,.

--NM
I hope nobody else took that trade, it stopped me and then went back up. Thats was 34 pip loss... I guess I will try again.

--NM
  • #5,535
  • Mar 18, 2010 10:29am Mar 18, 2010 10:29am
Got my pips back on the EU, always an opportunity some where....I closed out exactly what I lost on the Kiwi trade and moved stop to BE+2. So now lets see what happens. The 1.3650 was the key level for me...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: H1 trade.jpg Size: 176 KB
  • #5,536
  • Mar 18, 2010 10:34am Mar 18, 2010 10:34am
Closed GBP/AUD for -7 pip.. Not so sure where it heading. GU is down but GJ is not moving atm
Trend + S&R + RR =
  • #5,537
  • Mar 18, 2010 10:40am Mar 18, 2010 10:40am
Quoting yunero
Closed GBP/AUD for -7 pip.. Not so sure where it heading. GU is down but GJ is not moving atm
The GJ pair kind of suprised me a little I thought I would get a decent trade out of that but it was not to be, I think the EU is going to be reaching for new lows, the 1.3650 was the key level I think, so i am hoping for a big bucket of pips out of this...

--NM
  • #5,538
  • Mar 18, 2010 10:47am Mar 18, 2010 10:47am
Quoting NightMoves
The GJ pair kind of suprised me a little I thought I would get a decent trade out of that but it was not to be, I think the EU is going to be reaching for new lows, the 1.3650 was the key level I think, so i am hoping for a big bucket of pips out of this...

--NM
Did you take EU? It seems to have made a nice drop today - I am not trading at the moment, just watching as too many other things going on around me - distracting...
  • #5,539
  • Mar 18, 2010 10:54am Mar 18, 2010 10:54am
Quoting NightMoves
The GJ pair kind of suprised me a little I thought I would get a decent trade out of that but it was not to be, I think the EU is going to be reaching for new lows, the 1.3650 was the key level I think, so i am hoping for a big bucket of pips out of this...

--NM
i thought the EU didn't want to move as i enter close to 3 hours ago.
finally it's made up its mind to get going, let's hope for a good tumble.
  • #5,540
  • Mar 18, 2010 10:54am Mar 18, 2010 10:54am
Quoting Paulette
Did you take EU? It seems to have made a nice drop today - I am not trading at the moment, just watching as too many other things going on around me - distracting...
Yes I am in the EU I scaled down part of my position at 50 pips. So I got my kiwi pips back so hopefully now it continue down over the next couple of days, it may retrace and stop me out but we will see.

--NM
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