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Trend Trading All Pairs

  • #8,141
  • Oct 4, 2010 11:17pm Oct 4, 2010 11:17pm
Quoting Chillypiper
Can anyone confirm this possible Long entry position? My first time posting my TP. Any Comments or advise would be a big help!


Thank you!

Entry @80.80
SL @ 80.40
TP @ 82.90
Chilly, did you not see the scheduled RBA (Reserve Bank of Australia) rate announcement? Those boys can punch a big hole in a sideways market like that one has been forming. That is a sign to me that a lot of players are wary of the coming announcement.
  • #8,142
  • Oct 5, 2010 1:27am Oct 5, 2010 1:27am
Quoting NightMoves
Hi Chillypiper,
That pair to me anyway seems like it is moving sideways right now more than trending, here is the hourly chart and the wicks are really long, meaning some pretty big stops need to be in place. Until this pair gets trending again I am not going to play with it.

--NM

Ok, support has held and the price already almost reached retracement trend line. I am watching but feeling is it is going to break.
Aud/ USd uptrend is showing weakeness especially after rate drop. Aud has had a lot of bad news recently so, it might be the last straw plus price was close to previous top on weekly. But it has not touched 100 MA on 4H.
  • #8,143
  • Oct 5, 2010 1:32am Oct 5, 2010 1:32am
Here how I see GBP/USD. Previous retracement line got broken, but there was no follow up. Now second retracement line formed and it got broken, some kind of probably news induceed down spike pull back. News in 2 hours. so, no trading for now. But here is what i see:

Attached Image (click to enlarge)
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  • #8,144
  • Oct 5, 2010 2:51am Oct 5, 2010 2:51am
Eur/ USd broke retracement trend line. 80 pips in 15 min move. I am waiting for pull back.
  • #8,145
  • Oct 5, 2010 6:45am Oct 5, 2010 6:45am
Quoting shiko
Eur/ USd broke retracement trend line. 80 pips in 15 min move. I am waiting for pull back.
Hahha its hard to beat a good trend...I am up a few pips on that pair too :_)

--NM
  • #8,146
  • Oct 5, 2010 7:01am Oct 5, 2010 7:01am
I halfed out @ 1.3782 then moved my stop, so its a freebie now... Heres the chart.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min trigger.png Size: 22 KB
  • #8,147
  • Oct 5, 2010 8:28am Oct 5, 2010 8:28am
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 83 KB




awaiting entry south




Red
  • #8,148
  • Oct 5, 2010 8:55am Oct 5, 2010 8:55am
Yeah, closed half for 30 pips, but I think the rest might be taken out on news spike at BE. I am sure, had not been this news announcement we would have been in the vicinity of 1.3850 by now.
  • #8,149
  • Oct 5, 2010 8:55am Oct 5, 2010 8:55am
Quoting NightMoves
Hahha its hard to beat a good trend...I am up a few pips on that pair too :_)

--NM
Yeah, closed half for 30 pips, but I think the rest might be taken out on news spike at BE. I am sure, had not been this news announcement we would have been in the vicinity of 1.3850 by now. http://cdn.forexfactory.com/images/s.../yim/happy.gif
  • #8,150
  • Oct 5, 2010 8:58am Oct 5, 2010 8:58am
I waited way too long for pull back on 1H and entered too high. I guess when price makes such move we should look for entry on smaller TF
  • #8,151
  • Oct 5, 2010 9:05am Oct 5, 2010 9:05am
Quoting NightMoves
I halfed out @ 1.3782 then moved my stop, so its a freebie now... Heres the chart.

--NM
NightMoves, what was the price you entered?
I was waiting for 1H trend line to get broken and enter on pull back. It is second time I enter too high. Last Friday same thing happened.
But you seems to enter before that major retracement trend line got broken?
  • #8,152
  • Oct 5, 2010 9:08am Oct 5, 2010 9:08am
I am out at BE on second half. entered at 1.3875. stop at 1.3780.
I think it might move higher.
  • #8,153
  • Oct 5, 2010 9:16am Oct 5, 2010 9:16am
If I understand correctly, you entered around 1.3700 after break out an dretest of previous retracement trend line on 15Min chart?

Like here:

Attached Image (click to enlarge)
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  • #8,154
  • Oct 5, 2010 10:50am Oct 5, 2010 10:50am
Quoting NightMoves
Hi Chillypiper,
That pair to me anyway seems like it is moving sideways right now more than trending, here is the hourly chart and the wicks are really long, meaning some pretty big stops need to be in place. Until this pair gets trending again I am not going to play with it.

--NM
Hey, Thanks for the feedback, I went with a half position, hoping the pending news from downunda was gona send me to the Moon! Unfortunately I was Spanked... Hard too!
Cheers
  • #8,155
  • Oct 5, 2010 10:55am Oct 5, 2010 10:55am
Quoting Abinadi
Chilly, did you not see the scheduled RBA (Reserve Bank of Australia) rate announcement? Those boys can punch a big hole in a sideways market like that one has been forming. That is a sign to me that a lot of players are wary of the coming announcement.
Yes sir, I got scared and shorted myself! Work out pretty good I'd say. But, obviously need to work on my charting.

Thank you!
  • #8,156
  • Oct 5, 2010 12:29pm Oct 5, 2010 12:29pm
Night, I have a quick question. Do you trade for a living? I'm only on page 10 of your thread and its sick so far! Another reason I'm going to keep reading and trying to learn this is because after all these months you've kept the same strat and haven't changed anything ( that I can tell of) even with people stating something bad about it. I was just curious if u trade for a living because tha'ts my ultimate goal, I just didn't know if this method would produce enough signals that you could make a living off of it? I guess that's really my question

THanks for your time and your great posts!
JOe
  • #8,157
  • Oct 5, 2010 1:02pm Oct 5, 2010 1:02pm
Quoting beehivesjoe
Night, I have a quick question. Do you trade for a living? I'm only on page 10 of your thread and its sick so far! Another reason I'm going to keep reading and trying to learn this is because after all these months you've kept the same strat and haven't changed anything ( that I can tell of) even with people stating something bad about it. I was just curious if u trade for a living because tha'ts my ultimate goal, I just didn't know if this method would produce enough signals that you could make a living off of it? I guess that's really my question...


I think you should count pips NightMoves has made today
I have noticed that when pair trades such opportunities arise quite often and I started watching 20 pairs consisting of major currencies. it happens all the time. i am just not accustomed to trade anything outside of E/U, E/J, H/J, G/U and A/U.
I think if NM risked say 2% on this trade he has probably ended with 6% or more return for a day...
I am currently learning execution and it looks like I was late to enter.
I have a question to NightMoves, how can we enter before the main retracement trend line was broken? If under main retracement trend line there is anothe rone we can use that one for entry? It is the one I showed on above 15Min chart although it was also seen on 1H TF.
  • #8,158
  • Oct 5, 2010 3:30pm Oct 5, 2010 3:30pm
Attached Image (click to enlarge)
Click to Enlarge Name: eu south.jpg Size: 90 KB
  • #8,159
  • Oct 5, 2010 7:38pm Oct 5, 2010 7:38pm
NightMoves, thank you for sharing this strategy. Patience seems like a major prerequisite
I am watching for possible set ups and training my eye so to speak.
A/U ran away , waiitng for it to come back. Here is i am watching set up on 1H
Aud/Nzd.
The pair just broke through all 3MA on 4 hours and is under 100MA on 4H chart and used it as resistance.
Set up on 1H, trigger on 15Min. Price retraced to 50.00 Fib where we have one of the previous lows resistance lines.
I drew retracement line and waiting. What do you think about this?
Thank you very much again!

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #8,160
  • Oct 5, 2010 8:49pm Oct 5, 2010 8:49pm
Quoting shiko
NightMoves, what was the price you entered?
I was waiting for 1H trend line to get broken and enter on pull back. It is second time I enter too high. Last Friday same thing happened.
But you seems to enter before that major retracement trend line got broken?
I entered off the 15 minute chart, there were 2 trend lines an inner and an outer line, I took the trade based off the BPC of the inner trend line it backed up on me about 8 pips then it continued on.
Here is a chart showing the BPC of the inner trendline.

--NM
Attached Image (click to enlarge)
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