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Trend Trading All Pairs

  • #5,781
  • Mar 25, 2010 10:51am Mar 25, 2010 10:51am
Quoting frankkn
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?
No problem, its really all about having of confluence of things come together in one spot all at the same time to make the level and the setup that much stronger.

--NM
  • #5,782
  • Mar 25, 2010 11:02am Mar 25, 2010 11:02am
You guys watching the CJ? I think a pullback and a break above the 91.00 RN and it is going to be nice ride to around the 95.50 level.

--NM
  • #5,783
  • Mar 25, 2010 11:09am Mar 25, 2010 11:09am
Quoting frankkn
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?
I use the last swing low/high of the last impulse wave on the TF I am trading. You may have a 4 hour trend and a 1 hour trend all at the same time just use which ever time frame you are trading to find the Swings to draw your fibs from. if you are trading the 1 hour and price breaks the level your watching then go back to the 4 hour and see where the last impulse was from and then redraw them on that chart, so now you will be trading the 4 hour instead of the 1 hour.

--NM
  • #5,784
  • Mar 25, 2010 11:15am Mar 25, 2010 11:15am
Quoting frankkn
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?
Take a look at the EU pair and you see it took a very nice bounce off the 38.2 fib. still below the RN and the previous swing low but it reacted vigorously around that 38.2 fib number.

--NM
  • #5,785
  • Mar 25, 2010 11:17am Mar 25, 2010 11:17am
Quoting NightMoves
Hahaha actually the market is nothing but an oscillation up and down over a given period of time which can be compared to a bicycle wheel which is a cricle and has no end, which makes the line infinite, now take that bicycle wheel and attach a pencil to it and spin the wheel, now take a piece of large paper and hold it so the pencil draws on the paper, and move the paper horizontally in 1 direction, that represents the time, the pencil will draw an oscillating line from the infinte circle so I think you can make and infinte number of pips based...
great to be able to hear your opinion from a different dimension
it certainly gives me great inspiration in learning views of a different perspective.

cheers
  • #5,786
  • Mar 25, 2010 11:18am Mar 25, 2010 11:18am
Look how the price reacted when it touched that 38.2 fib number.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: vigorous reaction.png Size: 41 KB
  • #5,787
  • Mar 25, 2010 11:22am Mar 25, 2010 11:22am
Quoting A 5
great to be able to hear your opinion from a different dimension
it certainly gives me great inspiration in learning views of a different perspective.

cheers
Hahahah that really was nothing more than a bunch of hot air....

--NM
  • #5,788
  • Mar 25, 2010 11:30am Mar 25, 2010 11:30am
I'm see the E/U in a channel between 1.33600 and 1.33200 I am looking to enter when it breaks below the 1.33200 level. Does that make sense?
  • #5,789
  • Mar 25, 2010 11:40am Mar 25, 2010 11:40am
Quoting Andy_G
I'm see the E/U in a channel between 1.33600 and 1.33200 I am looking to enter when it breaks below the 1.33200 level. Does that make sense?
It does make sense but I would like to see it a little closer to that trend line,even if it has to go sideways to get there. just a trend line break is not enough for me to believe it is now going to make a new impulse wave, but I am sometimes overly conservative and perhaps that will work. I am already in the EU so I am not going to take another position in it. I just like to see it closer to where I think a new impulse would start from.

--NM
  • #5,790
  • Mar 25, 2010 11:51am Mar 25, 2010 11:51am
in a couple of hours i'll be able to post my potential barriers and accelerator zones, what do you guys think are important price levels on the way down? assuming price continues down
  • #5,791
  • Mar 25, 2010 11:52am Mar 25, 2010 11:52am
Quoting Andy_G
I'm see the E/U in a channel between 1.33600 and 1.33200 I am looking to enter when it breaks below the 1.33200 level. Does that make sense?
We have several trendlines going on here in this down trend, inside lines and outside lines, the last time it broke one of the steeper trend lines or the shorter trend lines it retraced back to the 4 hour trend line, now it has broke the steeper trend line again, so I think I would like to see it closer to the 4 hour trend line, of course that does not mean it will happpen that way but if history repeats itself there is a good chance of that happening.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EU Trendlines.png Size: 45 KB
  • #5,792
  • Mar 25, 2010 11:55am Mar 25, 2010 11:55am
Quoting NightMoves
It does make sense but I would like to see it a little closer to that trend line,even if it has to go sideways to get there.

--NM
Sorry, which trend line do you mean???
  • #5,793
  • Mar 25, 2010 11:57am Mar 25, 2010 11:57am
Quoting NightMoves
...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...
I agree on RN's and SL / Entry levels, my take is more around 5-10 pips depending on the relevant pair for entries.
  • #5,794
  • Mar 25, 2010 11:57am Mar 25, 2010 11:57am
OK you just answered my question, thanks
  • #5,795
  • Mar 25, 2010 11:57am Mar 25, 2010 11:57am
Quoting Andy_G
Sorry, which trend line do you mean???
The line a marked as the H4 trend line is the one I would like to see it get too.

--NM
  • #5,796
  • Mar 25, 2010 12:03pm Mar 25, 2010 12:03pm
Quoting Andy_G
OK you just answered my question, thanks
Trend lines are very subjective and nothing is written in stone even with trend lines but for a higher probablility trade that is where I would like to see it somehwere where it makes sense as to why it has decided to start a new impulse wave if you know what I mean.

--NM
  • #5,797
  • Mar 25, 2010 12:11pm Mar 25, 2010 12:11pm
Quoting NightMoves
I am already in the EU so I am not going to take another position in it. I just like to see it closer to where I think a new impulse would start from.

--NM
So, where and why did you enter?
  • #5,798
  • Mar 25, 2010 12:29pm Mar 25, 2010 12:29pm
Quoting Andy_G
So, where and why did you enter?
I entered at 1.3636 after a break of the consolidation area around the 1.3650 area.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Enter.png Size: 60 KB
  • #5,799
  • Mar 25, 2010 12:48pm Mar 25, 2010 12:48pm
This market is full of suprises I guess it still has plenty of momentum...

--NM
  • #5,800
  • Edited 1:49pm Mar 25, 2010 1:21pm | Edited 1:49pm
Hi NM,

I Hope I now have the time in my life to learn this method!

In the case of CJ, how do you judge the potential length of time in the trade vs the current ADR (which is shot for the day)? - meaning pass on it or get in,
or wait for the next 24 hr cycle? and which time zone are you running with?

Quoting NightMoves
You guys watching the CJ? I think a pullback and a break above the 91.00 RN and it is going to be nice ride to around the 95.50 level.

--NM
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