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Trend Trading All Pairs

  • #5,761
  • Mar 25, 2010 7:05am Mar 25, 2010 7:05am
[quote=NightMoves;3583507]Hahaha actually the market is nothing but an oscillation up and down

HI Guys, I like this discussion

Custos, thanks for those DanK links, helped the confidence a bit for sure;

Just a bit of a twist on the regular day to day. Apparently, according to Bob Proctor (non trading):

Energy is Released not received, be that positive / negative charged. Life is a form of energy, so is the market and everything else. The infinite circle / spiral concept, it keeps moving and pushing - hopefully forward.

Paradigms are a multitude of Habits, other peoples Habits passed on from 1 generation to the next.
Paradigm dictates logic, controls time utilization, situational perception, effectiveness, money earned – if you want to change your life you must change your paradigm, when paradigm changes your life changes.

Praxis is integration: replacing old believe/habit with new believe that turns into habit!
How do you change paradigm, by repetition of information, you have to change your concept of money, how do you do that, thru the repetion of an idea.

After all that garbage it appears the trick is in repeating the mundane task of analysis and trade selection and finding the best yielding strategy for your personality type. IMO Longer TF, larger profit, larger R:R too...

So lets make pips keep pips repeat...

Just a twister for the day...

EDIT: most of above is a summary of the 2 links below

http://www.bobproctor-training.net/blcv2/blcv2/

http://www.bobproctor-training.net/blcv2/blcv3/
  • #5,762
  • Mar 25, 2010 7:12am Mar 25, 2010 7:12am
Hey,

anybody knows what happend to the big "E" or is he lurking around under a different name?

Captain, did you show him the plank?

Just wondering...
  • #5,763
  • Mar 25, 2010 7:23am Mar 25, 2010 7:23am
Quoting Paulette
Hey,

anybody knows what happend to the big "E" or is he lurking around under a different name?

Captain, did you show him the plank?

Just wondering...
I have not heard from him in awhile I am not sure where he scurried off too. He has been elusive lately varying names, not showing up for meetings...etc maybe he bought a brazilian beach house and is just sitting on the beach in his back yard?

--NM
  • #5,764
  • Mar 25, 2010 7:39am Mar 25, 2010 7:39am
Anyone watching any setups in progress?

--NM
  • #5,765
  • Mar 25, 2010 7:50am Mar 25, 2010 7:50am
Quoting NightMoves
Anyone watching any setups in progress?

--NM
How about USD-CAD Daily/H4. Looks like a shorting candidate.
  • #5,766
  • Mar 25, 2010 8:00am Mar 25, 2010 8:00am
CAD/JPY is bumping up against 90.50. Pretty strong resistance up here.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY 3-25-2010 06-57-13.jpg Size: 82 KB
  • #5,767
  • Mar 25, 2010 8:02am Mar 25, 2010 8:02am
Quoting MktScape
How about USD-CAD Daily/H4. Looks like a shorting candidate.
I am already in UCad, entry was @ 1.0245 as trendline seemed to have rejected the up move, SL @ BE already and 25% sold off at +40
  • #5,768
  • Mar 25, 2010 8:08am Mar 25, 2010 8:08am
Quoting PippyD
CAD/JPY is bumping up against 90.50. Pretty strong resistance up here.
Agree, if it can get thru and stay above we might be in for some upside...
  • #5,769
  • Edited 8:50am Mar 25, 2010 8:14am | Edited 8:50am
Quoting Paulette
Agree, if it can get thru and stay above we might be in for some upside...
Patience pays. I was originally thinking short off the resistance but all of the Yen pairs are showing strength. As you say now I'm thinking possibly long. My bias is still short though based on the long-term trend.
  • #5,770
  • Mar 25, 2010 8:35am Mar 25, 2010 8:35am
Quoting MktScape
How about USD-CAD Daily/H4. Looks like a shorting candidate.
The USDCAD I have been watching pretty closely, look at the weekly chart...that is the only reason I have not shorted it yet, it needs to break that trend line but it may do it.

--NM
  • #5,771
  • Mar 25, 2010 8:36am Mar 25, 2010 8:36am
Quoting Paulette
I am already in UCad, entry was @ 1.0245 as trendline seemed to have rejected the up move, SL @ BE already and 25% sold off at +40
Becareful in that UCad it is very close to some very long term support, a break below that and I am in, but it could bounce wickedly off the level so becareful.

--NM
  • #5,772
  • Mar 25, 2010 8:45am Mar 25, 2010 8:45am
I am going to wait and see if it get below this level I think.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly support.png Size: 33 KB
  • #5,773
  • Edited 11:53am Mar 25, 2010 8:45am | Edited 11:53am
Quoting NightMoves
Becareful in that UCad it is very close to some very long term support, a break below that and I am in, but it could bounce wickedly off the level so becareful.

--NM
Thanxs for heads-up - will definately do, fortunately stop is already at BE...

UPDATE: NM - UCad did exactly that, took me out - never mind, +50 (+40 & +10) banked
  • #5,774
  • Mar 25, 2010 8:52am Mar 25, 2010 8:52am
I think Paulette is right if the CJ can stay above the resistance level it is currently testing then 95.50 is a good possibilty on the larger time frames that is where the next real level of resistance is.

--NM
  • #5,775
  • Mar 25, 2010 8:59am Mar 25, 2010 8:59am
can't post pictures i'm at work

placed a sell limit order on eu @ 1.3333, sl @ 1.3363, tp @ 1.3243

i had to leave for work so i didn't have time to wait for the pullback after the break of the retrace support. i unfortunately had to guess, and price went right up to the level i chose, i hope it's enough who knows. sorry i can't post pictures.

i really like this corner of FF. hopefully i can get the hang of this reactive wave catching strategy. if i can be consistant with it over the next few weeks i'll put a little more into my account. i would love to be able to mess with larger timeframes with a larger account so i can take 1/2 off at 1:1 and move stop to b/e.

do any of you guys use tpo profile for potential s/r?
  • #5,776
  • Mar 25, 2010 9:27am Mar 25, 2010 9:27am
Quoting frankkn
can't post pictures i'm at work

placed a sell limit order on eu @ 1.3333, sl @ 1.3363, tp @ 1.3243

i had to leave for work so i didn't have time to wait for the pullback after the break of the retrace support. i unfortunately had to guess, and price went right up to the level i chose, i hope it's enough who knows. sorry i can't post pictures.

i really like this corner of FF. hopefully i can get the hang of this reactive wave catching strategy. if i can be consistant with it over the next few weeks i'll put a little more into my account. i...
I was hoping the EU would retrace to around 1.3400 area before heading back down but it may be ready to go down again. So the trade may work out, when price is that close to an RN I like to place the SL 10 to 15 pips above that RN for sure no matter how the 1-2-3 formation plays out having that RN between me and the price adds a little more protection imo. And when ever I enter the trade I like to wait until it has dropped below the RN even if the 1-2-3 formed above the RN by lesss than 15 pips or so, I have seen some nasty bounces off the round numbers only to have my SL triggered and then price goes on its merry way.

For targets I like to use Fibs and pattern projections they both seem to work nicely. I am not sure what TPO is?

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EU H1.png Size: 36 KB
  • #5,777
  • Mar 25, 2010 10:19am Mar 25, 2010 10:19am
drat

i was running late this morning, so when i chose my sl, price had yet to finish its retrace so it was more of a guess... big lesson learned ... patience, i should have waited for the whole pattern to complete itself

i see how experience with this method would help you recognize the 1-2-3, because depending on how you look at it (thru the eyes of someone like me who is new to this concept) there could be multiple setups inside of one proper setup

i will be focusing on how i will incorporate confluence of s/r into this.

tpo is part of market profile, it shows the number of times price has hit a certain level and displays the info as a histogram that is superimposed across the chart so you can see areas where price has spent a lot of time or little time. i like to shade the areas of no hits that are between the ares where there are a lot of hits. i consider these areas "accelerator zones" because if price does not like to spend time there it will accelerate out of there asap. this works better for me as opposed to traditional market profile theories regarding point of control and value (which seems arbitrary to me because it's defined as 70% of the histogram)

well i'm out of here .. but before i go , is it silly to short at the new low (not sure how to refer to it..but the low created after the break of the retrace trend line). maybe i jumped the gun calling 1.3337 the low to be breached... maybe it is1.3318. what do you all think?

edit:

i think i'll be waiting for price to get to 1.34.. that's actually an accelerator zone i marked up last night could be a nice level of resistance. if price never makes it there then oh well.. *insert nightmoves sig here*

acct balance from 100 to 89. i'm really glad it's just book money
  • #5,778
  • Mar 25, 2010 10:31am Mar 25, 2010 10:31am
Quoting frankkn
drat

i was running late this morning, so when i chose my sl, price had yet to finish its retrace so it was more of a guess... big lesson learned ... patience, i should have waited for the whole pattern to complete itself

i see how experience with this method would help you recognize the 1-2-3, because depending on how you look at it (thru the eyes of someone like me who is new to this concept) there could be multiple setups inside of one proper setup

i will be focusing on how i will incorporate confluence of s/r into this.

tpo is part of...
The biggy is to wait for price to reach a confluence of S/R in the area you were looking to get in really there was only a RN and the retracement trend line which had really just started, imo price should retrace back somewhere between the 38.2 and the 61.8 fib number otherwise I dont really believe it is much of a retracement and price action becomes to fast and can snap back like a rubber band. But even if the price does retrace back that far there has to be other S/R levels at the spot, like previous swing low/High, trend line, previous range breakout point...etc I like to see 4 different things happen in that area at a minimum; along with the above mentioned, I like to see the MA lines all pointed in the same direction, that does not always happen but it helps, and of course there has to be a trend which would make those MA lines all in order and pointing the same way.

I dont use the lines to determine and entry point but it does give an indication of trend strength and whether or not it is a tame trend or a wild trend. But again this whole method really is all about price action and S/R and not the MA lines.

--NM
  • #5,779
  • Mar 25, 2010 10:39am Mar 25, 2010 10:39am
Quoting frankkn
drat

i was running late this morning, so when i chose my sl, price had yet to finish its retrace so it was more of a guess... big lesson learned ... patience, i should have waited for the whole pattern to complete itself

i see how experience with this method would help you recognize the 1-2-3, because depending on how you look at it (thru the eyes of someone like me who is new to this concept) there could be multiple setups inside of one proper setup

i will be focusing on how i will incorporate confluence of s/r into this.

tpo is part of...
Here is an example I made up of the confluence of S/R that should come together for a high probablity trade, including the MA lines which are really showing a nice tame trend with high probability setup.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Supportresistance levels.png Size: 97 KB
  • #5,780
  • Mar 25, 2010 10:44am Mar 25, 2010 10:44am
dude thats a thing of beauty.

thank you so much for taking the time and effort out of your day to lend a helping hand! very appreciated cant thank you enough

edit: btw how do you choose your highs and lows for your fib? maybe the low that the retrace starts from and the last high before that?
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