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Trend Trading All Pairs

  • #7,041
  • Jun 25, 2010 2:34am Jun 25, 2010 2:34am
that's also a big long in my eyes. attached is the aud/cad h4 chart.
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  • #7,042
  • Jun 25, 2010 2:45am Jun 25, 2010 2:45am
aud/usd h1: short. Seems I am holding a monologue again, haha. Guys please post your setups too.
Attached Image (click to enlarge)
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  • #7,043
  • Jun 25, 2010 2:51am Jun 25, 2010 2:51am
Quoting Custos
just shorted eur/usd a minute ago. Attached is the eur/usd h1 chart. By the way, this is a very clean S/R level, hope you guys also see it that way.
Same here Custos....

But just watching for present H1 closing below 1.2330 then will be more confident about it...

I am also holding AU short from 0.8740

Good Luck for your trades.
  • #7,044
  • Jun 25, 2010 3:14am Jun 25, 2010 3:14am
I guess I could contribute with a no-brainer, although Im sure everybody knows about it by now.
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  • #7,045
  • Jun 25, 2010 3:16am Jun 25, 2010 3:16am
Quoting Rush
I guess I could contribute with a no-brainer, although Im sure everybody knows about it by now.
yep, definitely, also a good setup. I am also having my eyes on that level.
  • #7,046
  • Jun 25, 2010 3:18am Jun 25, 2010 3:18am
Any setup for GU guys??????????
  • #7,047
  • Jun 25, 2010 3:25am Jun 25, 2010 3:25am
Quoting Pip26
Any setup for GU guys??????????
I like that level. That's a gbp/usd h1 chart.

But pay a lot of attention. look at your weekly chart, we are just testing the last weekly low. So, maybe the bias is more down than up for the moment. Anyways, that would be a level that should at least give some reaction.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h1 25.6.2010.gif Size: 23 KB
  • #7,048
  • Jun 25, 2010 3:28am Jun 25, 2010 3:28am
Quoting Custos
I like that level. That's a gbp/usd h1 chart.

But pay a lot of attention. look at your weekly chart, we are just testing the last weekly low. So, maybe the bias is more down than up for the moment. Anyways, that would be a level that should at least give some reaction.
Yeah i m looking at it holding short from 1.5000 now watching that level to give a direction hopefully continution of trend...

Thanx for your Chart
  • #7,049
  • Jun 25, 2010 3:33am Jun 25, 2010 3:33am
Quoting Pip26
Yeah i m looking at it holding short from 1.5000 now watching that level to give a direction hopefully continution of trend...

Thanx for your Chart
yeah, what you can also do is to wait for the level to break, to retest from below and enter short, if you have strong faith in gbp/usd continuing the trend.
  • #7,050
  • Jun 25, 2010 8:23am Jun 25, 2010 8:23am
Quoting Custos
just shorted eur/usd a minute ago. Attached is the eur/usd h1 chart. By the way, this is a very clean S/R level, hope you guys also see it that way.
Hi Custos,
Thanks for the setup chart. I was wondering that if price retraces and heads back to the same level again would you take another short at the same level?
  • #7,051
  • Jun 25, 2010 8:32am Jun 25, 2010 8:32am
Quoting MktScape
Hi Custos,
Thanks for the setup chart. I was wondering that if price retraces and heads back to the same level again would you take another short at the same level?
if I took profit already then yes, if I didn't then of course not. I wouldn't want to double up my risk.
  • #7,052
  • Jun 25, 2010 8:41am Jun 25, 2010 8:41am
Quoting Custos
just shorted eur/usd a minute ago. Attached is the eur/usd h1 chart. By the way, this is a very clean S/R level, hope you guys also see it that way.
This one responded well.
  • #7,053
  • Jun 25, 2010 8:51am Jun 25, 2010 8:51am
Quoting MktScape
This one responded well.
yep
  • #7,054
  • Jun 25, 2010 8:52am Jun 25, 2010 8:52am
Custos,
what do you say about the two upcoming levels for short, marked in green.
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  • #7,055
  • Jun 25, 2010 8:59am Jun 25, 2010 8:59am
Quoting MktScape
Custos,
what do you say about the two upcoming levels for short, marked in green.
good levels, but I think your lower level already got touched. Always make sure to draw them as a range. an S/R level is very often a range.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h4 25.6.2010.gif Size: 26 KB
  • #7,056
  • Jun 25, 2010 9:22am Jun 25, 2010 9:22am
Quoting Custos
good levels, but I think your lower level already got touched. Always make sure to draw them as a range. an S/R level is very often a range.
ok ...i see that now. yesterday i was trying to catch up with some errands at the same time i tried taking a couple of trades and on one trade i think i talked myself into it.

In the retrospect i am thinking that i shouldn't have entered however at the time i was considering the trade price was making a lower high at a daily resistance level which was holding well and PA was touching the trendline from below. however later PA reversed and stopped out.

I am thinking of making a rule as to if i should avoid a re-entry (at a lower high) after price has already hit the resistance level as we never know if it will continue that way or reverse up as in this case.

Custos, I was wondering if you would try to re-enter into a trade and or you would only take the trade at the setup level and wont look for reentry (any rules you would follow for such situation)?
Attached Image (click to enlarge)
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  • #7,057
  • Jun 25, 2010 9:43am Jun 25, 2010 9:43am
Quoting MktScape
ok ...i see that now. yesterday i was trying to catch up with some errands at the same time i tried taking a couple of trades and on one trade i think i talked myself into it.

In the retrospect i am thinking that i shouldn't have entered however at the time i was considering the trade price was making a lower high at a daily resistance level which was holding well and PA was touching the trendline from below. however later PA reversed and stopped out.

I am thinking of making a rule as to if i should avoid a re-entry (at a lower high) after price...
what do you mean by re-entry? when did you enter first? I only see one entry here.

And when price broke through, it touched the level then from above, so you could have reversed and made a profit instead of a loss.

hope that helps.

cheers
  • #7,058
  • Jun 25, 2010 10:16am Jun 25, 2010 10:16am
Quoting Custos
what do you mean by re-entry? when did you enter first? I only see one entry here.

And when price broke through, it touched the level then from above, so you could have reversed and made a profit instead of a loss.

hope that helps.

cheers
First entry was at the last swing high which was closed at the profit target and later price pulled back making a lower high. Now I need to keep the reversal tactic in mind next time it happens.
  • #7,059
  • Jun 25, 2010 10:33am Jun 25, 2010 10:33am
Quoting MktScape
First entry was at the last swing high which was closed at the profit target and later price pulled back making a lower high. Now I need to keep the reversal tactic in mind next time it happens.
well, I would always re-enter. No rule to keep me out. Except if news are coming up.
  • #7,060
  • Jun 25, 2010 11:22am Jun 25, 2010 11:22am
GBP/USD

It is a friday and I am not keen on entering a trade this late. However, what do you guys think of this setup?

Top black SR seems ideal for a short as it is close to a round number as well as the 61% Fib level. PA seems to respond well off this area?

Hope I am getting a bit better Custos... I am going to practice more on FT as well!

Thanks
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