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Trend Trading All Pairs

  • #5,861
  • Mar 27, 2010 2:30pm Mar 27, 2010 2:30pm
Quoting NightMoves
I think the EURAUD is a really good looking setup if it all holds together.

--NM
I am already in this trade, I had a sell limit order at 1.4850 which was filled on Friday , will see what happens
  • #5,862
  • Mar 27, 2010 2:46pm Mar 27, 2010 2:46pm
looks like JPY need to gather some strength soon, as most of JPY charts are approaching some resistance areas if not already done ,
CADJPY, NZDJPY already in resistance areas
GBPJPY, USDJPY, EURJPY not far off major resistance

Charts
1-Daily UJ
2-H4 GJ
3-Daily GJ
4-Daily NJ
5-sorry ignore this one its EU
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ScreenHunter_05 Mar. 27 19.44.gif Size: 20 KB
Click to Enlarge Name: ScreenHunter_04 Mar. 27 19.43.gif Size: 21 KB
Click to Enlarge Name: ScreenHunter_03 Mar. 27 19.43.gif Size: 18 KB
Click to Enlarge Name: ScreenHunter_02 Mar. 27 19.41.gif Size: 22 KB
Click to Enlarge Name: ScreenHunter_01 Mar. 27 12.38.gif Size: 31 KB
  • #5,863
  • Mar 27, 2010 5:01pm Mar 27, 2010 5:01pm
Quoting NightMoves
Now this shows a pair that I would avoid on this time frame using this system notice how lines are crossing every whichway, not a good idea to trade this in my opinion, just whay to risky...
NightMoves,
how do you set up your metatrader4 chart to show only the round numbers?

thanks
  • #5,864
  • Mar 27, 2010 5:10pm Mar 27, 2010 5:10pm
Quoting unclek6
NightMoves,
how do you set up your metatrader4 chart to show only the round numbers?

thanks
it's a round number indicator, which plots all the round numbers. Unfortunately I can not post mine here, cause I purchased it with a course I took. Maybe Nightmoves knows where to find a free round number indicator. Otherwise, just search around the internet, there are for sure some free round number indicators out there.

best regards
  • #5,865
  • Mar 27, 2010 5:24pm Mar 27, 2010 5:24pm
Quoting Custos
it's a round number indicator, which plots all the round numbers. Unfortunately I can not post mine here, cause I purchased it with a course I took. Maybe Nightmoves knows where to find a free round number indicator. Otherwise, just search around the internet, there are for sure some free round number indicators out there.

best regards
thanks Custos
  • #5,866
  • Mar 28, 2010 8:09am Mar 28, 2010 8:09am
Quoting unclek6
thanks Custos
Here is the Round number grid, this is a freebie that he distributes to anyone that wants it.

--NM
Attached File(s)
File Type: ex4 LFL-RoundNumbers.ex4   5 KB | 715 downloads
  • #5,867
  • Mar 28, 2010 8:11am Mar 28, 2010 8:11am
Hi NM,
I've following the thread for monthes.
Follow your instruction to do some demo trading.
Sometimes lucky, sometime unlucky.

This case is an unluky one.
Here is a setup USDCHF H4 around MAR22


I doubt that am I use your way correctly?

Thanks
Armadise
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF H4 MAR22.png Size: 32 KB
  • #5,868
  • Mar 28, 2010 8:45am Mar 28, 2010 8:45am
Quoting Armadise
Hi NM,
I've following the thread for monthes.
Follow your instruction to do some demo trading.
Sometimes lucky, sometime unlucky.

This case is an unluky one.
Here is a setup USDCHF H4 around MAR22


I doubt that am I use your way correctly?

Thanks
Armadise
HI Armadise,
Using the 4 hour chart as a setup chart your trigger chart would be the 1 hour, once the breakout of the counter trend line occured it headed straight down the RN, and shot back up, it tried to had back down the RN but could not make it. So really there was no BPC to enter from. You need a good 2 or 3 bars of pullback on the trigger chart. 1 bar is usually not enough.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: NO BPC.png Size: 26 KB
  • #5,869
  • Mar 28, 2010 6:33pm Mar 28, 2010 6:33pm
NM,
Your early reply would be highly appreciated.
I really ignore the RN.
I'll focus more on RN.

Thanks
Armadise

Quoting NightMoves
HI Armadise,
Using the 4 hour chart as a setup chart your trigger chart would be the 1 hour, once the breakout of the counter trend line occured it headed straight down the RN, and shot back up, it tried to had back down the RN but could not make it. So really there was no BPC to enter from. You need a good 2 or 3 bars of pullback on the trigger chart. 1 bar is usually not enough.

--NM
  • #5,870
  • Mar 28, 2010 7:45pm Mar 28, 2010 7:45pm
Looks like plenty of setups for this week, bring on the pips
  • #5,871
  • Mar 28, 2010 8:29pm Mar 28, 2010 8:29pm
Descending triangle is forming on CADJPY H1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Mar. 29 02.27.gif Size: 16 KB
  • #5,872
  • Mar 29, 2010 4:42am Mar 29, 2010 4:42am
Possible trade on GBPJPY
daily chart
downtrending
retraced back to fib 61.8%
previous support and recent rejection at same level
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_07 Mar. 29 10.41.gif Size: 15 KB
  • #5,873
  • Mar 29, 2010 4:49am Mar 29, 2010 4:49am
Did anyone jump in the EURAUD?

--NM
  • #5,874
  • Mar 29, 2010 4:53am Mar 29, 2010 4:53am
Quoting shahroor
Possible trade on GBPJPY
daily chart
downtrending
retraced back to fib 61.8%
previous support and recent rejection at same level
hm, I would be careful on this one. it might of course work out. Just my thoughts here. If a level got recently hit, it means many orders which were placed at that level have already been executed and are not there anymore. Next time price hits that level there are less orders to hold price down, thus the likelihood decreases of price bouncing down again, since we don't have so many sellers in place anymore.

In this case I would watch PA before entering a trade, or look if in confluence with the horizontal resistance there is an obvious diagonal resistance which was not hit recently (thus a lot of orders could be stacked up there).
Just my opinion.
  • #5,875
  • Mar 29, 2010 4:58am Mar 29, 2010 4:58am
Quoting NightMoves
Did anyone jump in the EURAUD?

--NM
I have already exited half of my position for 80 pips
  • #5,876
  • Mar 29, 2010 4:58am Mar 29, 2010 4:58am
Quoting NightMoves
Did anyone jump in the EURAUD?

--NM
not me, the move up was way too fast for me. I thought it's gonna breach the trendline.
  • #5,877
  • Mar 29, 2010 4:59am Mar 29, 2010 4:59am
Quoting Custos
hm, I would be careful on this one. it might of course work out. Just my thoughts here. If a level got recently hit, it means many orders which were placed at that level have already been executed and are not there anymore. Next time price hits that level there are less orders to hold price down, thus the likelihood decreases of price bouncing down again, since we don't have so many sellers in place anymore.

In this case I would watch PA before entering a trade, or look if in confluence with the horizontal resistance there is an obvious diagonal...
good point , will keep an eye
Thanks
  • #5,878
  • Mar 29, 2010 5:04am Mar 29, 2010 5:04am
Quoting Custos
not me, the move up was way too fast for me. I thought it's gonna breach the trendline.
I waited until I had good confirmation that the down trend looks to be continuing, You can see on this chart the S/R level I used for my entry. I scaled out a part of my position SL is now at BE.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD H4.png Size: 23 KB
  • #5,879
  • Mar 29, 2010 5:07am Mar 29, 2010 5:07am
Quoting yunero
Yeah, i see the setup.. Thanks..
Oh No - I missed the move, Asian was way to quick on this one...
  • #5,880
  • Mar 29, 2010 5:09am Mar 29, 2010 5:09am
Quoting NightMoves
I waited until I had good confirmation that the down trend looks to be continuing, You can see on this chart the S/R level I used for my entry. I scaled out a part of my position SL is now at BE.

--NM
good trade
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