Trend Trading All Pairs | Page 399 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading correlation pairs by using the other pairs 843 replies

28 Pairs Trading Panel (Multi-pairs) 0 replies

Export All pairs or selected pairs to .csv with script 3 replies

Daily Bar Analysis - All Pairs/All Welcome 15 replies

Trend Trading All Currency Pairs 3 replies

Attachments: Trend Trading All Pairs
Exit Attachments

Trend Trading All Pairs

  • #7,961
  • Sep 16, 2010 9:32pm Sep 16, 2010 9:32pm
Quoting ahks
So this mean you only take trades after price reaches a confluence level (i.e. S&R, Fib.) with round numbers? If no round numbers at a confluence level then no trades?

Also, I have a few questions about 123 breakout patterns.

1. Do you wait for the candle to CLOSE beyond aspect #2 or as soon as price moves a few pips past aspect #2? In some cases, I saw 123 patterns with prices briefly moving beyond aspect #2. It would breach the trendline for a bit, then closing back below the trendline with SL being hit later on.

2. Do you still take trades...
1. I always wait for price to clear aspect #2. If the 123 is very clean then i will take it as soon as it breaks to get more pips fom the trade, if the 123 is not as clean as it should be or I would like to be I will wait and make sure price looks to be serious about moving further.

2. I am not sure by what you mean "Far from spect #2" I can show you some charts if that would help even though there are quite few of them posted in this thread. I would have to dig them up.

Also if there is a round number near the #2 aspect then I will use that RN as my entry and not use aspect number #2, those round numbers are key, watch was price does around those numbers and you will see it bounces all over the place even if there is no S/R in the area, the reason is because there are TP's and SL's at those levels so price bounces and gets really squirrely around those numbers.
  • #7,962
  • Sep 16, 2010 10:27pm Sep 16, 2010 10:27pm
Quoting NightMoves
1. I always wait for price to clear aspect #2. If the 123 is very clean then i will take it as soon as it breaks to get more pips fom the trade, if the 123 is not as clean as it should be or I would like to be I will wait and make sure price looks to be serious about moving further.

2. I am not sure by what you mean "Far from spect #2" I can show you some charts if that would help even though there are quite few of them posted in this thread. I would have to dig them up.

Also if there is a round number near the #2 aspect then I will use that...

1. We still need a break of the outer trendline before entry, correct?

2. I was referring to the distance between aspect #2 tip and the break of the outer trendline. Sometimes, this can be quite far away. I guess this is irrelevant, if entries are taken at aspect #2 before the break of the outer trendline.

Thanks for the tip about the round number entry at aspect #2. Hector didn't mention this in the course. Will look into that.

There were 123 formations on the AUDUSD & NZDJPY, 4 HR setup, 1 HR trigger. Did anyone take those?
  • #7,963
  • Sep 16, 2010 11:00pm Sep 16, 2010 11:00pm
Quoting ahks
1. We still need a break of the outer trendline before entry, correct?

2. I was referring to the distance between aspect #2 tip and the break of the outer trendline. Sometimes, this can be quite far away. I guess this is irrelevant, if entries are taken at aspect #2 before the break of the outer trendline.

Thanks for the tip about the round number entry at aspect #2. Hector didn't mention this in the course. Will look into that.

There were 123 formations on the AUDUSD & NZDJPY, 4 HR setup, 1 HR trigger. Did anyone take those?
I am in the AUDUSD but not the NZD pair.

I would need to see a chart to see exactly what you mean, then I can give you my opinon on that.

The round numbers sometimes get so close to the trend lines if they are withing 15 or 20 pips away I will ait for a break of those round numbers before entering, if we are further away than that then I will take the trade and watch it really close once it hits that RN, those RN's can sometimes cause some pretty nasty bounces so to be safe I will wait until price clearly decides which side of that RN it wants to stay on.

--NM
  • #7,964
  • Sep 16, 2010 11:09pm Sep 16, 2010 11:09pm
Time for me to get some sleep, my AUDUSD trade is up 30 pips at the moment we will see how the AUDUSD plays out in the Morning.

You guys have a good one and save some pips for me...

--NM
  • #7,965
  • Sep 17, 2010 12:50am Sep 17, 2010 12:50am
Quoting ahks
1. We still need a break of the outer trendline before entry, correct?

2. I was referring to the distance between aspect #2 tip and the break of the outer trendline. Sometimes, this can be quite far away. I guess this is irrelevant, if entries are taken at aspect #2 before the break of the outer trendline.

Thanks for the tip about the round number entry at aspect #2. Hector didn't mention this in the course. Will look into that.

There were 123 formations on the AUDUSD & NZDJPY, 4 HR setup, 1 HR trigger. Did anyone take those?
yeah, in general you wanna wait for a break of the outer trendline. Why? Cause that is the last support/resistance where price still could bounce off from, so you want that trendline to be cleared.
However, if you see that your outer trendline is very flat, you might wanna trade after price cleared a steeper inner trendline.

cheers
  • #7,966
  • Edited 1:12am Sep 17, 2010 1:02am | Edited 1:12am
okay, a B+ setup I got into. gbp/aud m15.
reasons for the setup:

 

  1. price broke the counter trendline to the downside
  2. gbp/aud is overall in a downtrend on the h4 chart
  3. it's before london so london might take it down
  4. confluence with trendline

reasons against this setup:

 

  1. no confluence with a fib
  2. no confluence with an RN
  3. Price recently bounced off from the lower trendline on h4 as shown in my second chart, indicating that there is more potential for an upmove.

So let's see how it works out. stop is above my pink lines. no take profit since I am building my millipedes.

cheers

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpaud m15 17.9.2010.gif Size: 31 KB
Click to Enlarge Name: gbpaud h4 17.9.2010.gif Size: 27 KB
  • #7,967
  • Sep 17, 2010 1:16am Sep 17, 2010 1:16am
Another setup might be usdcad m15.
The horizontal S/R level marked is a strong S/R level. We are making lower lows, confluence with fib, RN and possibly a trendline.
Only problem, usdcad is not in any trend whatsoever since a year (on the daily). So the expectancy that this will work out is a bit lower. But I am going to take it nonetheless.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad m15 17.9.2010.gif Size: 30 KB
  • #7,968
  • Edited 2:25am Sep 17, 2010 1:21am | Edited 2:25am
usdjpy h4 is hesitating quite a bit at a strong horizontal level and trendline, coinciding with a fib and 86.00 round number.
I give it a shot. weekly is in a downtrend. However pay attention, on the monthly we are reaching a low, so usd/jpy might stop the trend.

EDIT: also the BOJ might hold the usd/jpy up, so that is another factor against that setup.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy h4 17.9.2010.gif Size: 25 KB
  • #7,969
  • Sep 17, 2010 1:24am Sep 17, 2010 1:24am
Quoting Custos
okay, a B+ setup I got into. gbp/aud m15.
reasons for the setup:

 

  1. price broke the counter trendline to the downside
  2. gbp/aud is overall in a downtrend on the h4 chart
  3. it's before london so london might take it down
  4. confluence with trendline

reasons against this setup:

 

  1. no confluence with a fib
  2. no confluence with an RN
  3. Price recently bounced off from the lower trendline on h4 as shown in my second chart, indicating that there is more potential for an upmove.

So let's see how it works out. stop is...

okay, that one got stopped out.
  • #7,970
  • Edited 3:48am Sep 17, 2010 3:32am | Edited 3:48am
another good setup on gbp/chf h4 chart.

the first chart is h4 the second is m15.

As you guys see price made a run for the round number. The actual horizontal level and 50% fib is somewhat near but didn't get touched yet.

There is a possibility that it won't get touched at all, and that is because of the smaller trendlines on h1 and m15 (blue and orange lines) & the round number.
Sometimes price just want to head for the trendlines instead of the horizontal area. I gave it a shot at the RN. So let's see what happens.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf h4 17.9.2010.gif Size: 30 KB
Click to Enlarge Name: gbpchfm15 17.9.2010.gif Size: 28 KB
  • #7,971
  • Sep 17, 2010 5:35am Sep 17, 2010 5:35am
that is in my opinion a good hector setup. eur/aud h1 chart.
Well, I went one time-frame lower than what should be done.
Actually the setup chart is d1 and the trigger chart is h4.
But the bpc looks nice on h1, so worth a shot. Also it bounced off an RN.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: euraud h1 17.9.2010.gif Size: 28 KB
  • #7,972
  • Sep 17, 2010 7:58am Sep 17, 2010 7:58am
Nice to see you back as well Custos, lets get back to some Hector style trading?

Andy
  • #7,973
  • Sep 17, 2010 10:08am Sep 17, 2010 10:08am
Quoting Custos
that is in my opinion a good hector setup. eur/aud h1 chart.
Well, I went one time-frame lower than what should be done.
Actually the setup chart is d1 and the trigger chart is h4.
But the bpc looks nice on h1, so worth a shot. Also it bounced off an RN.

cheers
Being a longtime lurker since 2009, commenting for the second time in over a year.

That setup looks good to me. hope it works out well for me.
  • #7,974
  • Sep 17, 2010 10:11am Sep 17, 2010 10:11am
Quoting NightMoves
I am in the AUDUSD but not the NZD pair.

I would need to see a chart to see exactly what you mean, then I can give you my opinon on that.

The round numbers sometimes get so close to the trend lines if they are withing 15 or 20 pips away I will ait for a break of those round numbers before entering, if we are further away than that then I will take the trade and watch it really close once it hits that RN, those RN's can sometimes cause some pretty nasty bounces so to be safe I will wait until price clearly decides which side of that RN it wants...
I am impressed. went all the way back up to 0.9455. wish i was in that trade with you.
  • #7,975
  • Sep 17, 2010 10:19am Sep 17, 2010 10:19am
Quoting Mortician.
As per the HECTOR LOB + TONY's i took earlier. I am up by +50 pips.(1 minute chart attached).
Which means 5x return on risk. Since i risk -10 pips.

EUR/USD is currently battling the 1.3100 rn. It is always hard to not close down the trade after a such quick return on risk.(Essentially, this kind of return is equivalent to risking 100 pips to make 500pips. And if my final pt of +100 pips on this trade get reached, that will be equivalent to risking -100 pips to make +1000 pips.)

current 1 MIN CHART attached below:
wow. it reached your price target of 1.3147. 1 vs 10 risk-reward!
i need to learn this method asap!

HELP!

will have to read this thread more thoroughly. hopefully, people will have the patience to answer my questions.

good work all around.

1 vs 10! nice. if only i can just get three or four of those in a month using 2% risk of total asset and i am all set!
  • #7,976
  • Sep 17, 2010 10:37am Sep 17, 2010 10:37am
Quoting Custos
that is in my opinion a good hector setup. eur/aud h1 chart.
Well, I went one time-frame lower than what should be done.
Actually the setup chart is d1 and the trigger chart is h4.
But the bpc looks nice on h1, so worth a shot. Also it bounced off an RN.

cheers
Custos ... so you must be in right from the bounce @ 1.4000 and wouldnt have waited for the TL BPC ..... ?
  • #7,977
  • Sep 17, 2010 10:55am Sep 17, 2010 10:55am
Thanks, Custos

As always your charts are very helpful.
Glad you are back posting


Quoting Custos
that is in my opinion a good hector setup. eur/aud h1 chart.
Well, I went one time-frame lower than what should be done.
Actually the setup chart is d1 and the trigger chart is h4.
But the bpc looks nice on h1, so worth a shot. Also it bounced off an RN.

cheers
  • #7,978
  • Sep 17, 2010 1:42pm Sep 17, 2010 1:42pm
Quoting MktScape
Custos ... so you must be in right from the bounce @ 1.4000 and wouldnt have waited for the TL BPC ..... ?
probably right. price already moved against me by 40 pips.
maybe the new trendline will do the trick
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 111 KB
  • #7,979
  • Sep 17, 2010 2:07pm Sep 17, 2010 2:07pm
Quoting NightMoves
I am in the AUDUSD but not the NZD pair.

I would need to see a chart to see exactly what you mean, then I can give you my opinon on that.

The round numbers sometimes get so close to the trend lines if they are withing 15 or 20 pips away I will ait for a break of those round numbers before entering, if we are further away than that then I will take the trade and watch it really close once it hits that RN, those RN's can sometimes cause some pretty nasty bounces so to be safe I will wait until price clearly decides which side of that RN it wants...
Would this be a failed 123 formation? AUDCHF 4 HR setup, 1 HR trigger. Entry is when price broke the trendline and aspect #2. SL was eventually hit.
Attached Image (click to enlarge)
Click to Enlarge Name: audchf.gif Size: 34 KB
  • #7,980
  • Sep 17, 2010 5:05pm Sep 17, 2010 5:05pm
This setup looks very appealing ....who else would be entering on the Pin bar break?
Attached Image (click to enlarge)
Click to Enlarge Name: audchf-D1-PIN.PNG Size: 40 KB
11 traders viewing now