Here is the currency index at the moment. Showing the strong currencies against the weak currencies at different time frames.
--NM
--NM
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DislikedShiko,
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.
--NMIgnored
DislikedI have scaled down the position as my original target was reached (within a few pips anyway) tightened up my stop. +303 pips so far on this trade.
Now I will just follow it until I get stopped out at some point in this trade.
Here is the chart showing my original target, pretty strong uptrend happening here for sure.
--NMIgnored
DislikedIn the interest of turning a new page....i will give my two cents your question.
Watch for the breakouts of that pennant.
Chart attached.Ignored
DislikedI have scaled down the position as my original target was reached (within a few pips anyway) tightened up my stop. +303 pips so far on this trade.
Now I will just follow it until I get stopped out at some point in this trade.
Here is the chart showing my original target, pretty strong uptrend happening here for sure.
--NMIgnored
DislikedNothing beats TREND TRADING...it requires some patience...but the rewards are worth it....my USD/DKK is well over +3,000 pips...last i check it was +3,700 pips and some change. Spread was only 7pips.
I have attached examples of my trend trading trades.THEY ARE WEEKLY OR DAILY charts....Ignored
DislikedI am not writing all this to boast, on the contrary, just to show just how simple and elegant it is to use hector methods, trading in the direction of the higher trends.
Here are more charts. they are weekly or daily charts....i enter at bpc at 1/4th or 1/8th of time frame. then, i subsequently pyramid using much lower time frames, like 15mins.....Ignored
DislikedI 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.
--NMIgnored
DislikedAll i did were simple hector trades and pyramiding in the larger time frame direction, fundamental and technical uptrend aligned together, and then, i traded in that direction. Period.
My entry were simple hector trades, and standard break, bpc, etc. Nothing brilliant, or super clever. Simple hector trades and pyrmading with each swings. Simple. Trend following. No brainer. I just pyramid with the trend....which goes to trend trading all pairs. Trend trading.Ignored
DislikedHi NM,
very true and still a fan...
Enjoy the trends...
Trade safe
PIgnored
DislikedTotally agree. Trend trading and pyramiding is as simple as it gets.
I also think problem for many people with that approach is patience, but if you have enough patience for that approach, then it's one of the easiest and most profitable ways of trading.
cheers.Ignored
DislikedI can see the applicability of your trend collapse(you, entropylad, and yunero).Ignored
DislikedHi NM
I also took the EU 4H trade, but closed it at the previous swing high for about 35pips. I don't seem to be able to work out where they will go to and let them run?
AndyIgnored
Disliked"trendline channels" ???
Do you mean extend the top TL to see where price should next hit?Ignored