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Trend Trading All Pairs

  • #8,161
  • Oct 5, 2010 8:57pm Oct 5, 2010 8:57pm
Quoting shiko
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...
The AUDNZD is testing some pretty strong resistance and it may be headed south if that upper level holds, Becareful looking for long positions even though it may break those high levels I would be careful, if you look at the long term charts like the weekly or monthly chart you will see it is testing some pretty beefy resistance.

--NM
  • #8,162
  • Oct 5, 2010 9:04pm Oct 5, 2010 9:04pm
Quoting Chillypiper
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
Hahaha yes this market can be really unforgiving, its just that pair seemed to moving sideways so I stay away until it organised again. The one thing about news is it can can work with you and against you, I have had some really good news pushes and unless I am up a bunch of pips where the news is not going to be a big concern I stay out of the market until smoke clears.

--NM
  • #8,163
  • Oct 5, 2010 9:10pm Oct 5, 2010 9:10pm
Looking at the UJ monthly it is getting into a very interesting spot...

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Possible Bottom.png Size: 39 KB
  • #8,164
  • Edited 10:04pm Oct 5, 2010 9:51pm | Edited 10:04pm
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...
HI Joe,
I have been trading this method for around 4 or 5 years now, and it is my main trading method. There are a zillion different ways to trade this market and some methods have merit and some not so much. However what ever method a person uses and is profitable using it then the question is why change?

I do use other methods from time to time but my main strategy is the one I describe in the early pages, and I keep everyting setup exactly as I describe it no changes there.

I only trade trends I dont range trade nor do I scalp the market. Hahaha I am not sure what you mean its sick you caught me off guard with that. But anyway like I said there are many ways to trade, and I try to keep it simple because trading does not have to be difficult the more difficult one makes it the more room for errors.

This system is pretty simple...Look for the S/R levels draw trendlines use Fibo retracements look for the round numbers and wait for a reversal pattern such as the BPC pattern in an area where a confluence of those things come together and finally only trade in the direction of the main trend and your off and running.

So you see there is no magic involved no waiting for this line to cross that line and waiting for all the crossing lines to happen at once...etc just simple chart reading finding a trend and locating the S/R levels and the confluence to come together and look for the reversal and then enter the trade.

Does not get much simpler than that.

--NM
  • #8,165
  • Oct 5, 2010 11:50pm Oct 5, 2010 11:50pm
All the pairs I'm looking at, it seems like the trend is reversing by the time all the moving averages are lined up liek they should be? Seems like the moving avereages almost lag to much? Not criticizing just kind of confused on that part ;X
  • #8,166
  • Oct 6, 2010 12:29am Oct 6, 2010 12:29am
Quoting NightMoves
Looking at the UJ monthly it is getting into a very interesting spot...

--NM
NM,
I am assuming from that comment that you mean, "Oh look at that possible disaster about to happen."

I say that because the last time this pair was in this price area the boys at the BoJ got their knickers in a twist about the Yen getting too strong. They backed up a dump truck and bought two tons of USDs.

Two thoughts - I don't want to be short because if the PA shows a break of the low - that could be what sets them off again. On the other hand, I don't want to go long and watch the long awaited stronger Yen/weaker USD take me to the cleaners. My position on this one is cash, thank you very much, because it feels too much like gambling to me. Not a high probability trade no matter what I do except sit on my cash.

Now tell us where you think that's wrong because I'm ready to learn.
  • #8,167
  • Oct 6, 2010 2:46am Oct 6, 2010 2:46am
NightMoves, thanks for comments. I was actually looking to short the pair. as it is 1H short set up.
Here is what I believe is controversial signals when we do not follow on 4H set up because it is opposite signal on higher time frame. am I right?

Attached Image (click to enlarge)
Click to Enlarge Name: ej 4h.gif Size: 70 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ej 1w.gif Size: 72 KB
  • #8,168
  • Oct 6, 2010 5:30am Oct 6, 2010 5:30am
I completed the whole Hector Trader course. Hector is the God of Forex to me. I have only praise for him. I have read the forum to page 90 and the truth that forum is fantastic. Nightmoves, Hector is as well as you. Nightmoves another chose, here it does not say of Hector´s course is the strategy of LOP (London Open Breakout) in 1h timeframes and pairs with the EUR/.. ,GBP/... and CHEF/.... Do you know that strategy? It is a strategy very similar to the other bpc(1-2-3)
Greetings and sorry for my bad English. I am Spanish.

Thanks
  • #8,169
  • Oct 6, 2010 5:34am Oct 6, 2010 5:34am
Hi NM and everyone,

newbie here learning hector's methods as well. Just discovered this thread and will be following it for sure.

zonrokoy
  • #8,170
  • Oct 6, 2010 6:26am Oct 6, 2010 6:26am
Quoting Abinadi
NM,
I am assuming from that comment that you mean, "Oh look at that possible disaster about to happen."

I say that because the last time this pair was in this price area the boys at the BoJ got their knickers in a twist about the Yen getting too strong. They backed up a dump truck and bought two tons of USDs.

Two thoughts - I don't want to be short because if the PA shows a break of the low - that could be what sets them off again. On the other hand, I don't want to go long and watch the long awaited stronger Yen/weaker USD take me to the...
Basically I meant I would not be any where near that pair now, the last time it was there it shot up, this time maybe it will fall, one thing for certain is something is going to happen and until it decides what that is I will stay away from it.

I posted that basically to show that no matter what time you are trading you need to be aware of of what is happening on the longer time frames, as many only look at the smaller time frame they are trading and dont look at the longer time frames.

--NM
  • #8,171
  • Oct 6, 2010 6:37am Oct 6, 2010 6:37am
Quoting Javi
I completed the whole Hector Trader course. Hector is the God of Forex to me. I have only praise for him. I have read the forum to page 90 and the truth that forum is fantastic. Nightmoves, Hector is as well as you. Nightmoves another chose, here it does not say of Hector´s course is the strategy of LOP (London Open Breakout) in 1h timeframes and pairs with the EUR/.. ,GBP/... and CHEF/.... Do you know that strategy? It is a strategy very similar to the other bpc(1-2-3)
Greetings and sorry for my bad English. I am Spanish.

Thanks...
HI Javi,
Yes I know that method and it is in this thread, there a number of posts and trades using it but as always you need to wait for the bpc so you dont get caught up in a false breakout. I have seen the momentum traders get caught in false breakouts by not waiting for that.

--NM
  • #8,172
  • Oct 6, 2010 7:06am Oct 6, 2010 7:06am
My EU trade is still active as of this post +159 pips here is the chart, my target is the 1.40 area.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: EU Update.png Size: 26 KB
  • #8,173
  • Oct 6, 2010 11:11am Oct 6, 2010 11:11am
Closed Eur/ USD trade 2 positions. 40 pips one and 90 pips second. This was a good one. Retracement to 38Fib, break of the retracement on news, pull back and break out.
  • #8,174
  • Oct 6, 2010 11:19am Oct 6, 2010 11:19am
I think this is one of the three best threads I have seen on FF. This one, BRV's No Brainer Trades and James16.
  • #8,175
  • Oct 6, 2010 4:27pm Oct 6, 2010 4:27pm
Attached Image (click to enlarge)
Click to Enlarge Name: aud room.jpg Size: 62 KB


Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 92 KB





closed aud @ supply - awaiting PA for short and long cable
  • #8,176
  • Oct 6, 2010 7:42pm Oct 6, 2010 7:42pm
Quoting redsword11
Attachment

Attachment




closed aud @ supply - awaiting PA for short and long cable
Nice trade Red, my EU is now up +239 Pips it needs to keep pushing...

--NM
  • #8,177
  • Oct 6, 2010 8:39pm Oct 6, 2010 8:39pm
Quoting zonrokoy
Hi NM and everyone,

newbie here learning hector's methods as well. Just discovered this thread and will be following it for sure.

zonrokoy
Hi zonrokoy,
glad to have you...lots of good traders out here...

--NM
  • #8,178
  • Oct 6, 2010 8:46pm Oct 6, 2010 8:46pm
Quoting shiko
I think this is one of the three best threads I have seen on FF. This one, BRV's No Brainer Trades and James16.
Shiko,
yes those threads are all good too, you know like I was saying there are many ways to trade this market and make money, what all these methods have in common is the fact they all trade trends and off of a confluence of S/R and round numbers, no matter what method you use those few elements of S/R and round numbers are the key to making it in this market the more elements of S/R you have that come together in those key locations the better the trade will be.

--NM
  • #8,179
  • Oct 6, 2010 8:48pm Oct 6, 2010 8:48pm
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 73 KB
  • #8,180
  • Oct 6, 2010 8:54pm Oct 6, 2010 8:54pm
Quoting redsword11
Attachment
I have to agree, looking at the longer time frame, the weekly chart is at the top again, so if this level holds could be a nice ride south.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: weekly.png Size: 24 KB
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