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Trend Trading All Pairs

  • #7,561
  • Aug 2, 2010 11:14am Aug 2, 2010 11:14am
Quoting Custos
you gotta love these. eur/gbp m15

Trendline coming down, trendline leading up, nice horizontal level and a nice strong move away from the level.
Hello,
I entered in this trade last evening (as per H4 chart) ...closed the position at support level and entered a new order, as per the H1 chart, but this one didnt get executed.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP-H1.jpg Size: 95 KB
Click to Enlarge Name: EURGBP-h4.jpg Size: 101 KB
  • #7,562
  • Aug 2, 2010 11:17am Aug 2, 2010 11:17am
Quoting MktScape
Hello,
I entered in this trade last evening (as per H4 chart) ...closed the position at support level and entered a new order, as per the H1 chart, but this one didnt get executed.
you know, my zone is lower, because I looked back in the chart to identify where the exact zone is. You should also always look back in the chart, then you can identify the zone more clearly. (But I also get those almost tades occasionally )
  • #7,563
  • Aug 2, 2010 11:20am Aug 2, 2010 11:20am
Quoting Custos
you know, my zone is lower, because I looked back in the chart to identify where the exact zone is. You should also always look back in the chart, then you can identify the zone more clearly. (But I also get those almost tades occasionally )
yes thats what i was looking at .... i need to zoom out more often.
  • #7,564
  • Aug 2, 2010 11:34am Aug 2, 2010 11:34am
This one seems to be breaking levels, i got stopped out .... i am thinking that the next level in green should hokd .... what do you think? ...SL at swing high.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 122 KB
  • #7,565
  • Aug 2, 2010 11:40am Aug 2, 2010 11:40am
Some crazy moves today- I also got stopped out
Let's target the next level then

Quoting MktScape
This one seems to be breaking levels, i got stopped out .... i am thinking that the next level in green should hokd .... what do you think? ...SL at swing high.
  • #7,566
  • Aug 2, 2010 11:42am Aug 2, 2010 11:42am
Quoting Custos
well spotted. Definitely a good opportunity. However, I personally don't trade touch trades during london anymore, only in the other sessions. London tends to break the levels, whereas the other sessions tend to respect them. Look at our e/j trade for example, held perfectly before london started. Then once london momentum picks up, it either can go in your favor or go through the level. In this case it went through the level.

Coming back to gbp/usd, if price is still sitting at the level after london, I will also take the trade, it's really...
I believe the London session momentum cause the level to break ...so i think there should be rule in this respect such as 'not to place a trade when price is nearing a level and London session in within a few hours aways'
  • #7,567
  • Aug 2, 2010 11:48am Aug 2, 2010 11:48am
Right, we probably would have avoided our GU losses when not taken the trade during/before London session.


Quoting MktScape
I believe the London session momentum cause the level to break ...so i think there should be rule in this respect such as 'not to place a trade when price is nearing a level and London session in within a few hours aways'
  • #7,568
  • Aug 2, 2010 11:52am Aug 2, 2010 11:52am
Quoting AndreasF
Some crazy moves today- I also got stopped out
Let's target the next level then
I think in addition to the London session momentum ....GBP is in an strong uptrend for sometime now ...the trade we are trying is a coutner trend trade .... which would not hold when up upward current is strong.
  • #7,569
  • Aug 2, 2010 4:32pm Aug 2, 2010 4:32pm
Quoting MktScape
This one seems to be breaking levels, i got stopped out .... i am thinking that the next level in green should hokd .... what do you think? ...SL at swing high.
your daily level is quite big, mine is big as well, but not as big. If a level is that huge, take the upper part of the level like in my attached chart. Also don't forget about our broken resistance, it may now turn into support.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.8.2010 gbpusd d1.gif Size: 29 KB
  • #7,570
  • Aug 2, 2010 4:35pm Aug 2, 2010 4:35pm
Quoting MktScape
I believe the London session momentum cause the level to break ...so i think there should be rule in this respect such as 'not to place a trade when price is nearing a level and London session in within a few hours aways'
well, the london session is just a problem for entering the trade, not if we are already in the trade.
We want to enter before or in the first hour of london and then get the push from london in our direction. But just don't enter during london. Momentum will push through the level.
  • #7,571
  • Aug 2, 2010 4:37pm Aug 2, 2010 4:37pm
Quoting AndreasF
Right, we probably would have avoided our GU losses when not taken the trade during/before London session.
not probably, you for sure would have avoided that loss
  • #7,572
  • Aug 2, 2010 4:38pm Aug 2, 2010 4:38pm
Quoting MktScape
I think in addition to the London session momentum ....GBP is in an strong uptrend for sometime now ...the trade we are trying is a coutner trend trade .... which would not hold when up upward current is strong.
again, just don't enter during london, levels taken from the daily tend to hold if they are tested outside london, so a counter trend trade is definitely fine, if taken outside london.

cheers
  • #7,573
  • Aug 2, 2010 7:41pm Aug 2, 2010 7:41pm
Quoting Custos
your daily level is quite big, mine is big as well, but not as big. If a level is that huge, take the upper part of the level like in my attached chart. Also don't forget about our broken resistance, it may now turn into support.
Thanks for the suggestion Custos .... i have readjusted the level on daily. Let see what happens.
  • #7,574
  • Aug 2, 2010 10:50pm Aug 2, 2010 10:50pm
Quoting Custos
well, the london session is just a problem for entering the trade, not if we are already in the trade.
We want to enter before or in the first hour of london and then get the push from london in our direction. But just don't enter during london. Momentum will push through the level.
Great insight!

Any thoughts of possible touch trades on the EU?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD D1.jpg Size: 89 KB
"Instead of hoping he must fear; instead of fearing he must hope."
  • #7,575
  • Aug 3, 2010 1:26am Aug 3, 2010 1:26am
Quoting Jliuuu
Great insight!

Any thoughts of possible touch trades on the EU?
yeah, those levels could work out, however, I have set mine a bit higher, but I look also for historical significance. Again, nothing right and wrong here.
  • #7,576
  • Aug 3, 2010 1:37am Aug 3, 2010 1:37am
Went long on gbpcad on daily during the night, now it seems to be taking off. I think this one might continue upwards for some time since there is quite a long distance to a resistance zone. Any one else in this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: SS-08.03.2010-08.32.31AM.jpg Size: 107 KB
  • #7,577
  • Aug 3, 2010 2:03am Aug 3, 2010 2:03am
Long GBP/CAD daily/h1. Already banked +45 pips.

Entry notification here 15hours ago at 1.6255:

http://www.forexfactory.com/showpost...3&postcount=38

Intra-trade management here(sold some at 1.6300) :

http://www.forexfactory.com/showpost...4&postcount=40
  • #7,578
  • Aug 3, 2010 2:10am Aug 3, 2010 2:10am
Quoting annis
Went long on gbpcad on daily during the night, now it seems to be taking off. I think this one might continue upwards for some time since there is quite a long distance to a resistance zone. Any one else in this trade?
God, I love this forum, cause everybody has a different opinion on a setup. Very thought provoking, which analysis is correct.

I personally am looking for a short right now. I think the level gbp/cad went into as a resistance level. Also a trendline is coming down from the weekly...

I think you are falling into a newbie trap. You really have to zoom out to see the whole price action. Your zoomed in chart does not have enough information to base any (good) decisions on.

hope that helps
Attached Image (click to enlarge)
Click to Enlarge Name: 3.8.2010 gbcad d1.gif Size: 24 KB
  • #7,579
  • Aug 3, 2010 2:45am Aug 3, 2010 2:45am
Quoting Mortician.
Long GBP/CAD daily/h1. Already banked +45 pips.

Entry notification here 15hours ago at 1.6255:

http://www.forexfactory.com/showpost...3&postcount=38

Intra-trade management here(sold some at 1.6300) :

http://www.forexfactory.com/showpost...4&postcount=40

Sold a sizable chunk at 1.6345 for a nice +90 pips. Already BE the trade. The rest is in "set-and-forget" mode. Made +45 pips and +90 pips on long GBP/CAD. Nice monday, i will say.

Chart attached:
Attached Image (click to enlarge)
Click to Enlarge Name: Mortician_19 Aug. 03 03.42.gif Size: 19 KB
  • #7,580
  • Aug 3, 2010 3:04am Aug 3, 2010 3:04am
Quoting Mortician.
Nice monday, i will say.

Chart attached:
I thought today is tuesday, obviously not everywhere.
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