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Trend Trading All Pairs

  • #7,661
  • Aug 11, 2010 11:55pm Aug 11, 2010 11:55pm
AUDCAD hit a supply level on the daily and weekly.
I'm in this trade which has hardly moved so far.

Let's see.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 16 KB
  • #7,662
  • Aug 12, 2010 3:15am Aug 12, 2010 3:15am
Quoting AndreasF
AUDCAD hit a supply level on the daily and weekly.
I'm in this trade which has hardly moved so far.

Let's see.
looks good to me
  • #7,663
  • Aug 12, 2010 5:46am Aug 12, 2010 5:46am
Hi Custos

Would you take the long trade if price touches the demand zone at around 1.2750?

Please advice
Andreas
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
  • #7,664
  • Aug 12, 2010 5:49am Aug 12, 2010 5:49am
Quoting AndreasF
Hi Custos

Would you take the long trade if price touches the demand zone at around 1.2750?

Please advice
Andreas
yeah, but I have my level at around 1.27, 50 pips lower. But anyways, be cautious, strong momentum on the daily. So might just break through.

cheers
  • #7,665
  • Aug 12, 2010 6:10am Aug 12, 2010 6:10am
Thanks, Custos

Yes, by looking to the left I now see that 1.27 is the better trigger.

Cheers
Andreas



Quoting Custos
yeah, but I have my level at around 1.27, 50 pips lower. But anyways, be cautious, strong momentum on the daily. So might just break through.

cheers
  • #7,666
  • Aug 12, 2010 8:11am Aug 12, 2010 8:11am
Quoting AndreasF
Hi Custos

Would you take the long trade if price touches the demand zone at around 1.2750?

Please advice
Andreas
are you scalping these? nothing wrong with counter-trend plays, but hope you are aware.
  • #7,667
  • Aug 13, 2010 10:31am Aug 13, 2010 10:31am
Hi randomperson

Yes, I'm trading touch trades both ways

Cheers
Andreas

Quoting randomperson
are you scalping these? nothing wrong with counter-trend plays, but hope you are aware.
  • #7,668
  • Aug 13, 2010 11:58am Aug 13, 2010 11:58am
I gave eur/usd another shot for a buy. Attached is the daily.

For me this pair is in a long-term downtrend (monthly) and medium-term uptrend (daily).
So let's see how that works out. I am up 20 pips, but on the daily that is almost nothing.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 13.8.2010 eurusd d1.gif Size: 38 KB
  • #7,669
  • Aug 13, 2010 11:15pm Aug 13, 2010 11:15pm
Thanks for the chart, Custos
EU also hit a demand zone on H4 with another setup for a TT.

I also will long on Monday.

Have a nice weekend
Andreas


Quoting Custos
I gave eur/usd another shot for a buy. Attached is the daily.

For me this pair is in a long-term downtrend (monthly) and medium-term uptrend (daily).
So let's see how that works out. I am up 20 pips, but on the daily that is almost nothing.

cheers
  • #7,670
  • Aug 14, 2010 3:43am Aug 14, 2010 3:43am
It's amazing how you get new insights when rereading stuff you've read a thousand times before, but I guess experience makes you aware of new things in the same material (no brainer material).

And sometimes this insight is very simple. It's nothing special actually. It's about zooming out on the chart and zooming in into a swing.

What I noticed is that each swing or chart pattern brv analyzes, consumes mostly at least half of the chart area. That is what I mean with zooming in on a swing or pattern. It gotta consume most of the chart window.
And now to zooming out, with that I mean really zooming out in the chart. If you zoom out a lot you can identify much better the best S/R levels possible for the current swing.

Attached is the eur/usd h4 chart. First is zoomed out to a level where you can't distinguish candle bodies and wicks anymore. It kind of makes it easier to identify the right S/R level with the most hits. The second chart shows the current swing up with my normal zooming settings, but in which the swing consumes the entire chart.
Okay I realize that one could argue that this is not the most recent swing and that there are other swing in between and I also realize that the retrace happened in great momentum. I just wanna make a point here about zooming in and out.

hope that makes sense. Any comments appreciated.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 14.8.2010 eurusd h4.gif Size: 42 KB
Click to Enlarge Name: 14.8.2010 eurusd h4(2).gif Size: 40 KB
  • #7,671
  • Aug 14, 2010 4:13am Aug 14, 2010 4:13am
Thanks, Custos

Very interesting and helpful.
To identify S/R I use attached indicator -which also helped me to see the picture better when zooming in and zooming out.

This indi mainly identifies supply/demand zones to place TT at.



Quoting Custos
It's amazing how you get new insights when rereading stuff you've read a thousand times before, but I guess experience makes you aware of new things in the same material (no brainer material).

And sometimes this insight is very simple. It's nothing special actually. It's about zooming out on the chart and zooming in into a swing.

What I noticed is that each swing or chart pattern brv analyzes, consumes mostly at least half of the chart area. That is what I mean with zooming in on a swing or pattern. It gotta consume most of the chart window....
Attached File(s)
File Type: mq4 II_SupDem.mq4   9 KB | 541 downloads
File Type: ex4 II_SupDem.ex4   13 KB | 455 downloads
  • #7,672
  • Aug 14, 2010 4:22am Aug 14, 2010 4:22am
Quoting AndreasF
Thanks, Custos

Very interesting and helpful.
To identify S/R I use attached indicator -which also helped me to see the picture better when zooming in and zooming out.

This indi mainly identifies supply/demand zones to place TT at.
thanks for the indicator, but I prefer not to use any indicator especially for S/R level identifying. Your eyes should become better than any indicator ever can be.
Problem with indicators is that it will stop you from thinking critically. Sooner or later you will just trade the indicator instead of common sense & price. Only indicator I would use is a round number indicator.

But anyways thanks for posting it, a lot of people will for sure find it helpful .
  • #7,673
  • Aug 14, 2010 1:54pm Aug 14, 2010 1:54pm
Hi,
weekend is always thinking time for me . So I was thinking, if we can use the TT's for precision entries to get the best price in retraces, why can't we use them for breakouts.

I attached a pic of the idea. Find a strong level, then look at the session (should be london session). Enter a couple of pips above the level with stop a couple of pips below the level. In theory price should not come back below the level at least in the current session. Of course one could just wait for price to retrace back, but when will that happen again? In the attached chart one might have missed the retrace opportunities since price didn't come right into the TT zone.

what do you guys think? discussion is welcomed.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 14.8.2010 eurusd h4.gif Size: 43 KB
  • #7,674
  • Aug 14, 2010 3:02pm Aug 14, 2010 3:02pm
Quoting Custos
Hi,
weekend is always thinking time for me . So I was thinking, if we can use the TT's for precision entries to get the best price in retraces, why can't we use them for breakouts.

I attached a pic of the idea. Find a strong level, then look at the session (should be london session). Enter a couple of pips above the level with stop a couple of pips below the level. In theory price should not come back below the level at least in the current session. Of course one could just wait for price to retrace back, but when will that happen again? In the...
I think I dislike breakouts and prefer rejection -> flip scenario. I didn't think breakout traders existed outside stocks lol (and only to the upside). The advantages of breakouts: momentum play, so easy to average-up without losing the edge of momentum, and easy to see if the trade isn't working. disadvantages of breakouts: crap entry price that is not good for long-term plays, and the entry is usually a place where many traders are already scaling-out. If you have identified a strong level, it generally acts how I mentioned above.
  • #7,675
  • Aug 15, 2010 2:36am Aug 15, 2010 2:36am
Quoting randomperson
I think I dislike breakouts and prefer rejection -> flip scenario. I didn't think breakout traders existed outside stocks lol (and only to the upside). The advantages of breakouts: momentum play, so easy to average-up without losing the edge of momentum, and easy to see if the trade isn't working. disadvantages of breakouts: crap entry price that is not good for long-term plays, and the entry is usually a place where many traders are already scaling-out. If you have identified a strong level, it generally acts how I mentioned above.
yeah, I generally also always disliked breakouts cause they tend to fake out only to reverse later. However, I was thinking, if price should break through a tough level then there is a reason for that and it should continue that momentum. Of course I also see the disadvantages of that approach. However, as I mentioned before, London tends to break levels, then why should we not use that info to position ourselves expecting a break of the levels.

Just some thoughts.
  • #7,676
  • Aug 15, 2010 3:02am Aug 15, 2010 3:02am
Hi Custos

for this trade on D1 -what is your SL and TP target?

Please advice
Andreas


Quoting Custos
I gave eur/usd another shot for a buy. Attached is the daily.

For me this pair is in a long-term downtrend (monthly) and medium-term uptrend (daily).
So let's see how that works out. I am up 20 pips, but on the daily that is almost nothing.

cheers
  • #7,677
  • Aug 15, 2010 3:10am Aug 15, 2010 3:10am
Quoting AndreasF
Hi Custos

for this trade on D1 -what is your SL and TP target?

Please advice
Andreas
sl is below round number and no tp, since I wanna build my millipedes.
  • #7,678
  • Aug 15, 2010 3:38am Aug 15, 2010 3:38am
OK, got it
Looking foward to next week!


Quoting Custos
sl is below round number and no tp, since I wanna build my millipedes.
  • #7,679
  • Aug 15, 2010 6:18am Aug 15, 2010 6:18am
some other setups that could work out. Let's see where we open, but those could be nice for a long.

First chart is eur/chf h4, second chart is gbp/usd h4.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15.8.2010 eurchf h4.gif Size: 42 KB
Click to Enlarge Name: 15.8.2010 gbpusd h4.gif Size: 44 KB
  • #7,680
  • Aug 15, 2010 6:47am Aug 15, 2010 6:47am
Thanks, Custos.
Looks we have many nice setups at week opening.

What do you think about shorting GBPNZD on D1?
It touched supply zone and the weekly is in a downtrend....

Quoting Custos
some other setups that could work out. Let's see where we open, but those could be nice for a long.

First chart is eur/chf h4, second chart is gbp/usd h4.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd.gif Size: 18 KB
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