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Trend Trading All Pairs

  • #6,281
  • Apr 12, 2010 7:35am Apr 12, 2010 7:35am
Quoting ja5on
so will u take this trade if u see a pullback then a continuation?
More than likely I will, keep an eye on the ADR because in that direction there is only about 40 pips left, so what I will do if I get in it is scale down once I am close to the ADR then I will move to BE and trail the PA from there. PA gets back above the 1.5400 then I will have to re-evaluate the whole setup from there. PA right now is showing little momentum so the previous swing high may hold...I will just have to watch it and see what it does, there is a lot of support in that area for low momentum PA and just about anything can cause a bounce...

--NM
  • #6,282
  • Apr 12, 2010 7:38am Apr 12, 2010 7:38am
Quoting NightMoves
More than likely I will, keep an eye on the ADR because in that direction there is only about 40 pips left, so what I will do if I get in it is scale down once I am close to the ADR then I will move to BE and trail the PA from there. PA gets back above the 1.5400 then I will have to re-evaluate the whole setup from there. PA right now is showing little momentum so the previous swing high may hold...I will just have to watch it and see what it does, there is a lot of support in that area for low momentum PA and just about anything can cause a bounce......
even while playing with 4H setup charts u dont keep the trades over the day?


anyway what do u see in the AU pair. with the 4hr set up. waiting for the break out off the trendline on 1h/15m
  • #6,283
  • Apr 12, 2010 7:40am Apr 12, 2010 7:40am
Quoting piyeree
Thanks! how about fibonacci lines? where do you choose where to start and where to end. thanks in advance! you are really a great help1
I draw my FIBS from the previous swing high or low, off the setup chart, if I have a trend line touch then I will use that like we do on the H4 setup chart, the GBPUSD is in the FIB window and near the trend line so imo it is a valis setup, however such slow PA at the moment is not a good sign....so use caution.

Normally when these setups follow through they come out with some pretty good momentum, if they take forever to follow through then chances are they are not going to follow through and best to wait for a better signal....

--NM
  • #6,284
  • Apr 12, 2010 7:44am Apr 12, 2010 7:44am
Quoting ja5on
even while playing with 4H setup charts u dont keep the trades over the day?


anyway what do u see in the AU pair. with the 4hr set up. waiting for the break out off the trendline on 1h/15m
Yes I do keep them over a day, however if we are close the ADR for the day why enter the trade? The draw down will be much heavier than needed, I will wait before I enter...no need to have drawdown bigger than you need even if the trade is going your way.

--NM
  • #6,285
  • Apr 12, 2010 8:08am Apr 12, 2010 8:08am
Quoting NightMoves
Yes I do keep them over a day, however if we are close the ADR for the day why enter the trade? The draw down will be much heavier than needed, I will wait before I enter...no need to have drawdown bigger than you need even if the trade is going your way.

--NM
the pairs today are moving very slowly without any momentum at all.. must be due to that GAP.
  • #6,286
  • Apr 12, 2010 8:15am Apr 12, 2010 8:15am
Quoting NightMoves
I try to draw it so I have as many touches as I can get, here is the GBPUSD H1 that I am may use as my trigger chart, I also may use a 15 minute, I have bothtime frames open now so I can see the PA on both.

You need at least 3 three touches, somwetime you will need more than 1 trend line as in this case...also notice there is a round number and a previous swing high in the smae area....that also becomes a level of support right now...

--NM
Hi NM,
Your system looks great. I like to try it but i have several question for you. You said that you also look at fibo numbers and you look between 38,2 and 61.8 only. So even though price is now has reach the 30SMA, do you consider to take the trade eventough price has not reach 38,2 and 61,8? I will attach AUDUSD chart to show you what i mean as i don't know how to describe my question any clearer.
How long have you been trading using this system?
You said that when u are using H4 as the setup chart then u will use H1 as the trigger chart. How many pullback bar is required on the H1 TF? is 1 pullback bar enough? DO you also see 15 mnt chart when you didn't get the pullback bar on H1?
Attached Image (click to enlarge)
Click to Enlarge Name: trade15 h4 print.gif Size: 35 KB
  • #6,287
  • Apr 12, 2010 8:19am Apr 12, 2010 8:19am
Quoting ja5on
the pairs today are moving very slowly without any momentum at all.. must be due to that GAP.
Its possible, I have the gap on my MT4 platform but not on my live account, so I was not aware of the gap until I opened my MT4 then there were huge gaps every where, and normally the gaps will close but then again there is nothing wirtten that says they have too.

But I agree PA is pathetic today, with this kind of PA I am not sure any setup is trust worthy...seems to be a whole lot of indecision by the smart money today for some reason....the NY session will be getting into the action in about 45 minutes or so we will see what they decide to do...I think they have pep rallies before they start the day...they always seem to wait an hour or so after they open before they get going...

--NM
  • #6,288
  • Apr 12, 2010 8:24am Apr 12, 2010 8:24am
Quoting NightMoves
I draw my FIBS from the previous swing high or low, off the setup chart, if I have a trend line touch then I will use that like we do on the H4 setup chart, the GBPUSD is in the FIB window and near the trend line so imo it is a valis setup, however such slow PA at the moment is not a good sign....so use caution.

Normally when these setups follow through they come out with some pretty good momentum, if they take forever to follow through then chances are they are not going to follow through and best to wait for a better signal....

--NM
Thanks dude!
  • #6,289
  • Apr 12, 2010 8:32am Apr 12, 2010 8:32am
Quoting carrot_yuli
Hi NM,
Your system looks great. I like to try it but i have several question for you. You said that you also look at fibo numbers and you look between 38,2 and 61.8 only. So even though price is now has reach the 30SMA, do you consider to take the trade eventough price has not reach 38,2 and 61,8? I will attach AUDUSD chart to show you what i mean as i don't know how to describe my question any clearer.
How long have you been trading using this system?
You said that when u are using H4 as the setup chart then u will use H1 as the trigger chart....
I do not use the MA lines to place entries, I use S/R levels and the FIBs, I use the MAA lines to give me a quick visual on how the trend is behaving. Changing time frames can sometimes make the trend a little clearer when using the MA lines, but again I do not use them to place entries.

I like to see price between the 38.2 and the 61.8 window, I do not look for a specific fib number, if price lands one of the fibs then great but it is not a requirement.

What IS a requirement is to have a confluence of S/R in the same area, like trend lines, RN's, Fibs, previous swing highs/Lows...etc 1 or 2 elements of S/R is usually not enough. The more you get in one area the stronger that area becomes.

I will use any time frame that is at least 4 times smaller than my setup chart as my trigger chart, 6 times smaller is as small as I will go. I normally do not trade TF's smaller than 30 minutes and prefer the H4 time frame. I rarely use the 30 min TF but I have used it.

For intraday trading I use the ADR and RN's to set targets and to determine if I have enough room to even place an entry for that day. When price starts reaching that ADR PA becomes....well like it is right now really slow...Hahaha....
  • #6,290
  • Apr 12, 2010 8:36am Apr 12, 2010 8:36am
Quoting carrot_yuli
Hi NM,
Your system looks great. I like to try it but i have several question for you. You said that you also look at fibo numbers and you look between 38,2 and 61.8 only. So even though price is now has reach the 30SMA, do you consider to take the trade eventough price has not reach 38,2 and 61,8? I will attach AUDUSD chart to show you what i mean as i don't know how to describe my question any clearer.
How long have you been trading using this system?
You said that when u are using H4 as the setup chart then u will use H1 as the trigger chart....
Also when I look at the pull back on the 15 minute time frame I like to see at least 2 bars of pullback, and no more than 5. If I get 5 or 6 bars then I will look at the setup again and may have to treat it differently. Also I do not think 1 bar is enough either, I am pretty particular in that regards, price has to do as I want it to do or I will pass on it and wait for it to do as I want it to do,

--NM
  • #6,291
  • Apr 12, 2010 8:46am Apr 12, 2010 8:46am
Quoting carrot_yuli
Hi NM,
Your system looks great. I like to try it but i have several question for you. You said that you also look at fibo numbers and you look between 38,2 and 61.8 only. So even though price is now has reach the 30SMA, do you consider to take the trade eventough price has not reach 38,2 and 61,8? I will attach AUDUSD chart to show you what i mean as i don't know how to describe my question any clearer.
How long have you been trading using this system?
You said that when u are using H4 as the setup chart then u will use H1 as the trigger chart....
I have been watching the AU too, and it has retested the daily range top and it held so far, because price action on so many of these pairs was pretty crazy over the weekend I am not sure what to expect at this moment, so i will keep looking for trades in the direction of the main trend until that trend gets destroyed. There really is no real counter trend line on the AU from the last impulse so I may wait on the pair and see if it breaks above the small range it was in previously, but I am looking to go long on that pair right now, but that could change depending on what the SM does with this pair.

--NM
  • #6,292
  • Edited 3:19am Apr 13, 2010 1:17am | Edited 3:19am
Morning All,

ADR on jpy pairs depleted between 80-100%. Also I think this session might be slow to UK trade balance news release...

EDIT: now JPY pairs have gone shooting all over the TL & R levels, phew... Like a rocket

Also - I found that always keeping an eye on the current day candle (direction and PA status - pinbar) to be quite a little pip saving trick.

Trade safe
  • #6,293
  • Apr 13, 2010 3:04am Apr 13, 2010 3:04am
Hey there!

This is my first post here, as you can see in my attached chart, i follow Hector's strategy, but in accordance with his new course.

Anyway, what i see scrolling through my charts, is EUR/AUD possible short opportunity at the top boundary of the trend channel.

A question for someone who is using his method for a while:
In this example, which one is the setup, and which one is the trigger chart?

Setup: H4 Trigger: H1 ? or Setup: H1 Trigger: M15 ?
He mentions in his course not to zoom in more than the trigger chart at swing entries.

Just to pinpoint my entry.. Now waiting for a 1-2-3 formation on the M15 TF.

I may possibly wait for price to push through the 1.4650 RN, and place my short entry few pips below that, cause it has worked as support yesterday.
Or isn't it neccessary if there is an obvious strong downtrend like this one?

Any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: euraud_0413.gif Size: 34 KB
  • #6,294
  • Apr 13, 2010 3:39am Apr 13, 2010 3:39am
Quoting Naturalwest
Hey there!

This is my first post here, as you can see in my attached chart, i follow Hector's strategy, but in accordance with his new course.

Anyway, what i see scrolling through my charts, is EUR/AUD possible short opportunity at the top boundary of the trend channel.

A question for someone who is using his method for a while:
In this example, which one is the setup, and which one is the trigger chart?

Setup: H4 Trigger: H1 ? or Setup: H1 Trigger: M15 ?
He mentions in his course not to zoom in more than the trigger chart at swing entries.

Just...
HI

Dont know the diff's between old and new hector course material, but IMO and little experience

Day / 4hr combo might provide a better setup soon - still working to get into dynamic zone;

Consider these as qa points:
on trend status (based on old course):
EUR/AUD Setup 4hr 100SMA is compromised (7 candles remaining above) at the moment with PA above 100SMA, the dynamic zone breached and trend violated;

for confluence:
Fibo - prev prev swing: price moving back below 61%
Which S/R levels are you using for confluence?
Did you draw your counter trend line?
I would like a b-p-c /1-2-3 of at least 2 bars (eish sounds like NM!)
RN - I would wait on 1.4650 to be confirmed

Just my view...

Trade safe
  • #6,295
  • Apr 13, 2010 3:53am Apr 13, 2010 3:53am
Great input, thank you!

I just put up the 3 SMA's, and so I see you are right, price is nearing the dynamic area on daily setup.

Dont know why exactly hector left his 3 SMA filter...

If price comes below 1.4650 (today's low) i get in, if not, then i change to Daily/H4 combo.

Thanks for the input!


What do you guys keep an eye on today?
  • #6,296
  • Apr 13, 2010 4:15am Apr 13, 2010 4:15am
Quoting Naturalwest
Great input, thank you!

I just put up the 3 SMA's, and so I see you are right, price is nearing the dynamic area on daily setup.

Dont know why exactly hector left his 3 SMA filter...

If price comes below 1.4650 (today's low) i get in, if not, then i change to Daily/H4 combo.

Thanks for the input!


What do you guys keep an eye on today?
Not trading today, just research and some other admin chores...
  • #6,297
  • Apr 13, 2010 4:43am Apr 13, 2010 4:43am
Quoting Naturalwest

Dont know why exactly hector left his 3 SMA filter...
Cause newbies tend to only look at the ma's instead of PA and s/r levels. Actually I would recommend you to delete the smas and just put them up, if you are unsure of what the setup chart is.

Cheers
  • #6,298
  • Edited 6:39am Apr 13, 2010 5:33am | Edited 6:39am
Hi folks,

Is there a easy and clear way to show the round numbers of which NM has commented on, Im on MT4. My apoligies if its a daft question. Im also having a little trouble setting my S/R levels, are there any clear defined rules about these, e.g if it breaks in the slightest it isnt correct and such? Im looking at GbpUsd at the moment and although I think it has just hit a R level, it is above the 61.8 fib level and not sure what to make of that.

Thankfully
Mackem.
  • #6,299
  • Apr 13, 2010 6:44am Apr 13, 2010 6:44am
Quoting Mackem
Hi folks,

Is there a easy and clear way to show the round numbers of which NM has commented on, Im on MT4. My apoligies if its a daft question. Im also having a little trouble setting my S/R levels, are there any clear defined rules about these, e.g if it breaks in the slightest it isnt correct and such? Im looking at GbpUsd at the moment and although I think it has just hit a R level, it is above the 61.8 fib level and not sure what to make of that.

Thankfully
Mackem.
Hi Mackem,

round numbers are i.e 1.5000, 1.5500.. etc. Have a look at this link:
http://www.forexfactory.com/showthre...=208630&page=2

Here you will find an indicator by NM.

Regards
  • #6,300
  • Apr 13, 2010 6:55am Apr 13, 2010 6:55am
Quoting Mackem
Hi folks,

Is there a easy and clear way to show the round numbers of which NM has commented on, Im on MT4. My apoligies if its a daft question. Im also having a little trouble setting my S/R levels, are there any clear defined rules about these, e.g if it breaks in the slightest it isnt correct and such? Im looking at GbpUsd at the moment and although I think it has just hit a R level, it is above the 61.8 fib level and not sure what to make of that.

Thankfully
Mackem.
HI Mackem,
Here is the link to the grid to display round numbers. http://www.forexfactory.com/attachme...d=447829&d=Mar 28, 2010 8:08am

--NM
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