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Trend Trading All Pairs

  • #6,001
  • Mar 30, 2010 1:49am Mar 30, 2010 1:49am
Quoting yunero
http://www.forexfactory.com/showpost...postcount=5852

USD/CAD trade is looking good.. still waiting bpc on CHF/JPY on H4
So Usd/cad has broken through, pulled back and is now hopefully heading downwards ie we are waiting confirmation

is this correct?

thanks
  • #6,002
  • Mar 30, 2010 2:05am Mar 30, 2010 2:05am
Quoting bluemosaic
So Usd/cad has broken through, pulled back and is now hopefully heading downwards ie we are waiting confirmation

is this correct?

thanks
Yep, pullback on weekly resistance.. support on H4 is holding right now.. we can add more short on bpc if the support broken.
Attached Image (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 30, 2010_ 15.02.gif Size: 13 KB
Trend + S&R + RR =
  • #6,003
  • Mar 30, 2010 2:15am Mar 30, 2010 2:15am
Quoting yunero
Yep, pullback on weekly resistance.. support on H4 is holding right now.. we can add more short on bpc if the support broken.
thank you for your help.

Just to clarify- you are watching the h4 chart but using the weekly as an extra guide /confirmation to give you more confidence when the support on 4h breaks through.

is this correct? what about using eod chart ?

sorry if questions sound stupid - am learning

thanks again
  • #6,004
  • Mar 30, 2010 2:41am Mar 30, 2010 2:41am
Quoting bluemosaic
thank you for your help.

Just to clarify- you are watching the h4 chart but using the weekly as an extra guide /confirmation to give you more confidence when the support on 4h breaks through.

is this correct? what about using eod chart ?

sorry if questions sound stupid - am learning

thanks again
yes, correct + we can target more pips if price react @ major S&R ie;daily,weekly.. and add more position on smaller tf with major trend.

p/s: not sure what you mean by EOD..
Trend + S&R + RR =
  • #6,005
  • Mar 30, 2010 2:44am Mar 30, 2010 2:44am
Quoting NightMoves
You know if markets were always consistant then it would be and easy decision. I try to stay in as long as I can. I will bank some profits but I will follow it with my stop. And I do that different ways too. I have never added to a position with each retracement I usually start scaling down, but it would be interesting to see how well the concept works.

Again if the markets were consistant then the choice would be easy so I guess some experimenting is in order.

--NM
thanks for your reply. That is true, markets are definitely not consistant. I think for now I will go for the second option, cause I have not a very high tolerance for risk.
cheers
  • #6,006
  • Mar 30, 2010 2:48am Mar 30, 2010 2:48am
Quoting Big1red9
Hi Custos,

Consider looking at the close and X% from that price point.

Closed today at 100.0000...
well, I like to add at retraces back to certain S/R levels. Cause I use touch trades a lot in my trading now. They allow me to implement just a 10 to 20 pip stoploss in general.
I think I will go for the second option for now.
Thanks for your reply
  • #6,007
  • Mar 30, 2010 2:49am Mar 30, 2010 2:49am
Quoting Clouds
well, keep in mind, eur/aud is approaching all-time lows of '97 at 1.42-1.44, that was when it was ECN
yeah, was just using this downtrend as an example.
  • #6,008
  • Mar 30, 2010 2:53am Mar 30, 2010 2:53am
UJ is forming bull flag on H4.. and price is already break weekly trendline.. strong bull i think.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Yunero_ Mar. 30, 2010_ 15.49.gif Size: 13 KB
Click to Enlarge Name: Yunero_ Mar. 30, 2010_16 15.49.gif Size: 13 KB
Trend + S&R + RR =
  • #6,009
  • Mar 30, 2010 2:59am Mar 30, 2010 2:59am
Quoting yunero
UJ is forming bull flag on H4.. and price is already break weekly trendline.. strong bull i think.
yep, becoming very bullish, now just waiting for a retrace on lower timeframes
  • #6,010
  • Mar 30, 2010 3:10am Mar 30, 2010 3:10am
Quoting Custos
well, I like to add at retraces back to certain S/R levels. Cause I use touch trades a lot in my trading now. They allow me to implement just a 10 to 20 pip stoploss in general.
I think I will go for the second option for now.
Thanks for your reply
by touch trade - do you mean you enter aggressively ie. once the price retraces back to certain point eg s/r or fib and therefore not wait for confirmation?

thanks
  • #6,011
  • Mar 30, 2010 3:33am Mar 30, 2010 3:33am
Hello Yunero and Custos,
Does the trend line drawn from early May and early August last year to last Thursday's high colour your thinking at all?
Thanks,
Kan.
(still learning)
Thanks for your help, warmth and straight talking Heather.
  • #6,012
  • Mar 30, 2010 3:42am Mar 30, 2010 3:42am
Quoting Kanderpro
Hello Yunero and Custos,
Does the trend line drawn from early May and early August last year to last Thursday's high colour your thinking at all?
Thanks,
Kan.
(still learning)
not sure what you mean. But here is the chart as I see it from a weekly perspective. price broke down-trendline indicating that we could at least see a small reversal for now. Of course it just might get back down into the trendline, but for now it looks bullish. Depending on PA I am gonna enter long at a retrace or not.

Does that help you? Or did you mean something else?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy w1 30.3.2010.gif Size: 27 KB
  • #6,013
  • Mar 30, 2010 3:52am Mar 30, 2010 3:52am
sorry Custos,
The trend line I mentioned is on the Daily chart and just above the upper limit of the flag that yunero mentioned. I wondered if you had spotted it as it may affect a breakout from the flag.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #6,014
  • Mar 30, 2010 4:42am Mar 30, 2010 4:42am
EU on the move
  • #6,015
  • Mar 30, 2010 5:39am Mar 30, 2010 5:39am
Quoting bluemosaic
by touch trade - do you mean you enter aggressively ie. once the price retraces back to certain point eg s/r or fib and therefore not wait for confirmation?

thanks
exactly
  • #6,016
  • Mar 30, 2010 5:45am Mar 30, 2010 5:45am
Quoting Kanderpro
sorry Custos,
The trend line I mentioned is on the Daily chart and just above the upper limit of the flag that yunero mentioned. I wondered if you had spotted it as it may affect a breakout from the flag.
Kan
would be nice if you could post a chart
  • #6,017
  • Mar 30, 2010 7:27am Mar 30, 2010 7:27am
there is a long pin bar on the 4H
looking bearish i think
  • #6,018
  • Mar 30, 2010 7:31am Mar 30, 2010 7:31am
[b]REal time tracking for indices and futures can be had for free with thinkorswim's paper trading platform. great charts and reliable data feeds for free and real time, you can get most indices traded in US (that means you can't get DAX FTSE), but you can get nikkei, gold silver etc etc.... great for those whose broker only handles forex pairs.....
  • #6,019
  • Edited 7:45am Mar 30, 2010 7:44am | Edited 7:45am
Quoting A 5
there is a long pin bar on the 4H
looking bearish i think
Yep I see it, if we break 1.3450 I think were headed down again.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Pin Bar.png Size: 20 KB
  • #6,020
  • Mar 30, 2010 7:46am Mar 30, 2010 7:46am
Quoting vanmiller
[b]REal time tracking for indices and futures can be had for free with thinkorswim's paper trading platform. great charts and reliable data feeds for free and real time, you can get most indices traded in US (that means you can't get DAX FTSE), but you can get nikkei, gold silver etc etc.... great for those whose broker only handles forex pairs.....
Thanks for the info vanmiller. Appreciated!!

--NM
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