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Trend Trading All Pairs

  • #5,921
  • Mar 29, 2010 10:33am Mar 29, 2010 10:33am
Quoting Big1red9
NM,
Broco has a huge array of markets and idices on MT4 platform. Also have futures.
http://www.brocompany.com/

BR
Thanks BR I will check them out.

--NM
  • #5,922
  • Mar 29, 2010 10:35am Mar 29, 2010 10:35am
1.3477 is the 38 fib retrace.. i dont think the eu setup has failed? it tagged that level nicely. price is close to the long term down trendline and isn't it making a perfect 1-2-3?
Attached Image (click to enlarge)
Click to Enlarge Name: euglob2.jpg Size: 98 KB
  • #5,923
  • Mar 29, 2010 10:42am Mar 29, 2010 10:42am
Like feedback on the following.... please.

I entered the AU short at .9050 (filled at .9042).

Because it was down from the top of the channel, I decided to enter with a fraction of a position. (original plan called for a position with SL or anti-hedge).

With the price having risen closer to the top of the channel, I added another fractional position at .9134. Current ave .9088. I will add another position at or about .9175 bring my average short to .9117.

I have increase my exposure from the initial position because while possible, a breakout to the upside doesn't feel like the highest probability.

I just don't sense there is anything taking place that is going to cause all the currencies that are at support or resistance points to break through. History shows they back down more times than not.

I am in the same situation with CJ and managing cash similarly.

Thank you,
BR
  • #5,924
  • Mar 29, 2010 10:43am Mar 29, 2010 10:43am
Quoting NightMoves
Thanks BR I will check them out.

--NM
  • #5,925
  • Mar 29, 2010 10:46am Mar 29, 2010 10:46am
That is how I saw it as well... maybe it is the TF being used? (gonna learn something).

Quoting frankkn
1.3477 is the 38 fib retrace.. i dont think the eu setup has failed? it tagged that level nicely. price is close to the long term down trendline and isn't it making a perfect 1-2-3?
  • #5,926
  • Mar 29, 2010 10:46am Mar 29, 2010 10:46am
Quoting frankkn
1.3477 is the 38 fib retrace.. i dont think the eu setup has failed? it tagged that level nicely. price is close to the long term down trendline and isn't it making a perfect 1-2-3?
No I am not saying that it is completely obliterated... I was just looking at the current setup and what would have been a great entry had it materialized. The setup is still valid it can certainly head down from there, so it is still on my watch list for right now.

--NM
  • #5,927
  • Mar 29, 2010 10:49am Mar 29, 2010 10:49am
hey thanks for the clarification pal
  • #5,928
  • Mar 29, 2010 10:51am Mar 29, 2010 10:51am
maybe short @ 1.3434

sl @ 1.3482?
  • #5,929
  • Mar 29, 2010 10:51am Mar 29, 2010 10:51am
Quoting Big1red9
Like feedback on the following.... please.

I entered the AU short at .9050 (filled at .9042).

Because it was down from the top of the channel, I decided to enter with a fraction of a position. (original plan called for a position with SL or anti-hedge).

With the price having risen closer to the top of the channel, I added another fractional position at .9134. Current ave .9088. I will add another position at or about .9175 bring my average short to .9117.

I have increase my exposure from the initial position because while possible, a breakout...
I agree if you look at the weekly chart of the AJ you see kind of a no neck Nick H&S formation going on there too, if he were to wear a turtle neck he would be blind...I think it will bounce off of that but I am going to wait a bit and see what it does.

--NM
  • #5,930
  • Mar 29, 2010 10:53am Mar 29, 2010 10:53am
Quoting frankkn
maybe short @ 1.3434

sl @ 1.3482?
If the setup holds I am looking at 1.3433 or so I like to have it go a fewpips below the 1-2-3.

--NM
  • #5,931
  • Mar 29, 2010 11:02am Mar 29, 2010 11:02am
Quoting NightMoves
If the setup holds I am looking at 1.3433 or so I like to have it go a fewpips below the 1-2-3.

--NM
If we get any more up bars on theis EU pair then I will look for a different entry based the PA pattern it could easily get into a range the way it is acting here.

--NM
  • #5,932
  • Mar 29, 2010 11:18am Mar 29, 2010 11:18am
Had a nice retest of the counter TL if it holds then I then all we need is a break at the bottom of the BPC and we should be good.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: TL Retest.png Size: 19 KB
  • #5,933
  • Mar 29, 2010 11:22am Mar 29, 2010 11:22am
NM,

Not clear...

If it is ranging, do you want to be in it?

What types of PA entries are possibilities?

Thanks,
BR

Quoting NightMoves
If we get any more up bars on theis EU pair then I will look for a different entry based the PA pattern it could easily get into a range the way it is acting here.

--NM
  • #5,934
  • Mar 29, 2010 11:31am Mar 29, 2010 11:31am
Quoting Big1red9
NM,

Not clear...

If it is ranging, do you want to be in it?

What types of PA entries are possibilities?

Thanks,
BR
If it gets into a range then I will stay out and treat it as a range breakout type of trade and forget the BPC we are looking at, but on the hourly chart right now it still looks good. The PA I am looking at is Bar size, if the bars start becoming smaller then I may pass on this for awhile due to no momentum and even if it breaks the BPC with small bars I will pass on it. Now that the London session is done I think the RN that it is at is going to be the issue I do not think it is going to stray to far from it for the rest of the NY session anyway. But then again you never know.

--NM
  • #5,935
  • Mar 29, 2010 11:37am Mar 29, 2010 11:37am
Quoting NightMoves
If it gets into a range then I will stay out and treat it as a range breakout type of trade and forget the BPC we are looking at, but on the hourly chart right now it still looks good. The PA I am looking at is Bar size, if the bars start becoming smaller then I may pass on this for awhile due to no momentum and even if it breaks the BPC with small bars I will pass on it. Now that the London session is done I think the RN that it is at is going to be the issue I do not think it is going to stray to far from it for the rest of the NY session anyway....
If it does go the ADR target would take it down to the .3382 level so there is room left on the day.

--NM
  • #5,936
  • Mar 29, 2010 11:41am Mar 29, 2010 11:41am
Hahaha its teasing us...

--NM
  • #5,937
  • Mar 29, 2010 11:44am Mar 29, 2010 11:44am
Got it.

I can kick up the momentum for you.... if you want?

If I take the dogs for a walk, take a shower or go to sleep, it will move ummmm 50 to 100 pips. If I eat and take the dogs for a walk, good for 75 to 125 pips. If I do all 3, ADR limits across the board.



Quoting NightMoves
If it gets into a range then I will stay out and treat it as a range breakout type of trade and forget the BPC we are looking at, but on the hourly chart right now it still looks good. The PA I am looking at is Bar size, if the bars start becoming smaller then I may pass on this for awhile due to no momentum and even if it breaks the BPC with small bars I will pass on it. Now that the London session is done I think the RN that it is at is going to be the issue I do not think it is going to stray to far from it for the rest of the NY session anyway....
  • #5,938
  • Mar 29, 2010 11:46am Mar 29, 2010 11:46am
Quoting Big1red9
Got it.

I can kick up the momentum for you.... if you want?

If I take the dogs for a walk, take a shower or go to sleep, it will move ummmm 50 to 100 pips. If I eat and take the dogs for a walk, good for 75 to 125 pips. If I do all 3, ADR limits across the board.
Hahahaha what are you waiting for....

--NM
  • #5,939
  • Mar 29, 2010 11:51am Mar 29, 2010 11:51am
Sorry... the one caveat is...

that I have no working order and if I have a position - it has to be in the opposite direction of the move.

Quoting NightMoves
Hahahaha what are you waiting for....

--NM
  • #5,940
  • Mar 29, 2010 11:53am Mar 29, 2010 11:53am
On the topic of orders....

Do people make use of stops and or limit orders?

Thanks
BR
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