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Trend Trading All Pairs

  • #5,881
  • Mar 29, 2010 5:16am Mar 29, 2010 5:16am
Quoting Custos
good trade
Pretty fast PA in both directions so anything could happen with this. My SL is just below the resistance line so it may back up to that line again and take me out but either way I gain something out of it.

--NM
  • #5,882
  • Mar 29, 2010 5:19am Mar 29, 2010 5:19am
Quoting shahroor
Possible trade on GBPJPY
daily chart
downtrending
retraced back to fib 61.8%
previous support and recent rejection at same level

Hi Shahroor,

it is starting to look like a very nice setup, now waiting for b-p-c to get in...
  • #5,883
  • Mar 29, 2010 5:29am Mar 29, 2010 5:29am
Quoting shahroor
Possible trade on GBPJPY
daily chart
downtrending
retraced back to fib 61.8%
previous support and recent rejection at same level
HI Shahroor,
I am watching that setup as well, I think like Paulette says, a bpc below that trend line might turn out ok. Custos brings up a good point, that S/R level has been tested twice very recently without making new lows, if it holds this time around then hopefully this will get going.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Possible Setup.png Size: 29 KB
  • #5,884
  • Mar 29, 2010 6:45am Mar 29, 2010 6:45am
NY Session will be going soon it will be interesting to see what happens to some of these setups once they get going.

--NM
  • #5,885
  • Mar 29, 2010 7:29am Mar 29, 2010 7:29am
I see the AJ is getting to the top of the range on the daily.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Top of range.png Size: 21 KB
  • #5,886
  • Edited 7:49am Mar 29, 2010 7:37am | Edited 7:49am
Quoting NightMoves
HI Shahroor,
I am watching that setup as well, I think like Paulette says, a bpc below that trend line might turn out ok. Custos brings up a good point, that S/R level has been tested twice very recently without making new lows, if it holds this time around then hopefully this will get going.

--NM

Also you have at least a potential range of 200 - 400 pips to move in before it starts making a lower low and by then you need to be @ BE I would hope with some % banked (EDIT: TP1 and SL) at BE...
  • #5,887
  • Mar 29, 2010 7:43am Mar 29, 2010 7:43am
Hi guys
I noticed something shocking today when I was looking through my journal..
all of my trades and I mean 100% of them were shorts !!
not a single long !!
Am I a bear by nature
I used to trade stock market and always loved to short stocks, has that got something to do with it...or is it just a coincidence
could you please guys check your journal over the last month and let me know whether you had any longs

Cheers
  • #5,888
  • Mar 29, 2010 7:48am Mar 29, 2010 7:48am
The EU is also looking interesting again.

--NM
  • #5,889
  • Mar 29, 2010 7:50am Mar 29, 2010 7:50am
Quoting shahroor
Hi guys
I noticed something shocking today when I was looking through my journal..
all of my trades and I mean 100% of them were shorts !!
not a single long !!
Am I a bear by nature
I used to trade stock market and always loved to short stocks, has that got something to do with it...or is it just a coincidence
could you please guys check your journal over the last month and let me know whether you had any longs

Cheers
Hahaha it is not a coincidence lately that is all I have been in too. I am not biased either way but all the good setups have been to the down side recently. At least on the pairs I have been trading.

--NM
  • #5,890
  • Mar 29, 2010 7:52am Mar 29, 2010 7:52am
Quoting shahroor
Hi guys
I noticed something shocking today when I was looking through my journal..
all of my trades and I mean 100% of them were shorts !!
not a single long !!
Am I a bear by nature
I used to trade stock market and always loved to short stocks, has that got something to do with it...or is it just a coincidence
could you please guys check your journal over the last month and let me know whether you had any longs

Cheers
No not shocking, the only long I had was a counter trend scalp - look at all the charts, we are trading trend, trend is down, trades should be shorts...
Did you also notice the losses have been less and the R:R good?
  • #5,891
  • Mar 29, 2010 7:56am Mar 29, 2010 7:56am
Quoting Paulette
No not shocking, the only long I had was a counter trend scalp - look at all the charts, we are trading trend, trend is down, trades should be shorts...
Did you also notice the losses have been less and the R:R good?
Good so not only me, as I didnt want to carry my stocks habits to forex..
the losses has been less you are right, and the R:R has been very satisfying I have to say... We should be thankful to this thread and the great guys in here
NM, Custos in particular
  • #5,892
  • Mar 29, 2010 8:02am Mar 29, 2010 8:02am
Quoting NightMoves
I see the AJ is getting to the top of the range on the daily.

--NM
Similarly I see CAD/JPY is knocking on that 90.50 again, I lets see if she moves above and will turn resistance into support... we might have some longs then...
  • #5,893
  • Mar 29, 2010 8:10am Mar 29, 2010 8:10am
Quoting Paulette
Similarly I see CAD/JPY is knocking on that 90.50 again, I lets see if she moves above and will turn resistance into support... we might have some longs then...
I think in about another 45 minutes or so the these setups will make or break, the NY folks should be out of the pep rally by then and ready for action, I have noticed it takes them guys a couple of hours after the NY Session opens to get going, usually around 10:00AM eastern time is when they start moving the markets, I am not sure why it takes them so long but it seems like every day thats when they decide what they are going to do.

--NM
  • #5,894
  • Mar 29, 2010 8:11am Mar 29, 2010 8:11am
Quoting shahroor
Good so not only me, as I didnt want to carry my stocks habits to forex..
the losses has been less you are right, and the R:R has been very satisfying I have to say... We should be thankful to this thread and the great guys in here
NM, Custos in particular
I second that - NM & Custos, thank you...
  • #5,895
  • Mar 29, 2010 8:13am Mar 29, 2010 8:13am
Quoting shahroor
Good so not only me, as I didnt want to carry my stocks habits to forex..
the losses has been less you are right, and the R:R has been very satisfying I have to say... We should be thankful to this thread and the great guys in here
NM, Custos in particular
good that you found some success. It's just about listening to the market and applying a method over and over again.
  • #5,896
  • Mar 29, 2010 8:20am Mar 29, 2010 8:20am
Quoting Paulette
I second that - NM & Custos, thank you...
I agree, it is you guys that are taking the trades, the method works and it is just a matter of having the patience to wait for the setup to happen is the key.

--NM
  • #5,897
  • Mar 29, 2010 8:34am Mar 29, 2010 8:34am
The EURAUD looks like it means business today, almost 2 times the normal ADR so far.

--NM
  • #5,898
  • Mar 29, 2010 8:59am Mar 29, 2010 8:59am
Hmmm maybe the EU is getting ready to take another run at it?

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Possible BPC.png Size: 22 KB
  • #5,899
  • Mar 29, 2010 9:07am Mar 29, 2010 9:07am
Quoting NightMoves
Hmmm maybe the EU is getting ready to take another run at it?

--NM
Looking at exactly the same. On a general note, I also found it useful to look at the indices to get an additional feel of the general direction each currency could take for the day.
  • #5,900
  • Mar 29, 2010 9:12am Mar 29, 2010 9:12am
Quoting Custos
Looking at exactly the same. On a general note, I also found it useful to look at the indices to get an additional feel of the general direction each currency could take for the day.
I looked at that earlier and looks like the USD is showing a little more strength than Euro on the 4 hour chart anyway.

--NM
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