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Trend Trading All Pairs

  • #8,441
  • Oct 18, 2010 1:11pm Oct 18, 2010 1:11pm
Quoting Jackk
Hi NM

My CADJPY is very similar EURJPY.

I'm thinking to follow the suggestion of Mortician and put a first target at 79.10.

What do you think?

Thanks in advance
the CHFs and the JPYs were breaking out yesterday.
  • #8,442
  • Oct 18, 2010 1:17pm Oct 18, 2010 1:17pm
Quoting Custos
two new trades:
eur/jpy h1: that is just a flip of an S/R level in direction of the trend, so let's see how it works out.

wish me luck

Quoting Custos
actually forget eur/jpy, I revised the line, we are still above the S/R level.
Did you re-enter at 113.45? there was BPC on h1 there(113.53). It was a H4/H1. This one i didnt take either. Basically, all the JPY broke out yesterday, with the exception of USD/JPY and AUDJPY
  • #8,443
  • Oct 18, 2010 2:06pm Oct 18, 2010 2:06pm
Quoting NaughtyPip
Yep i got it, but only took 40 pips and got out.

Using this method, is there any particular time I shouldnt be looking at entering a trade? As some opportunites seem to be appearing late us session and asian session. . .

You know, I have been wondering same thing. I remember NightMoves mentioned in the beginning of the thread that he usually doe snot trade Japan session. I wonder what he can say.
I guess AUD, JPY based pairs can be traded japan too and I noticed that E/U also starts making a move which then continues during Europe/ London session and then New York, but still, I wonder which time the signals have more chances to be good.
  • #8,444
  • Oct 18, 2010 2:08pm Oct 18, 2010 2:08pm
My left trade half is already about 100 pips up. let's see where it will end.
  • #8,445
  • Oct 18, 2010 2:37pm Oct 18, 2010 2:37pm
Quoting Mortician.
Did you re-enter at 113.45? there was BPC on h1 there(113.53). It was a H4/H1. This one i didnt take either. Basically, all the JPY broke out yesterday, with the exception of USD/JPY and AUDJPY
unfortunately I was involved in another jpy trade, so didn't take that bpc.
  • #8,446
  • Oct 18, 2010 2:39pm Oct 18, 2010 2:39pm
Quoting shiko
You know, I have been wondering same thing. I remember NightMoves mentioned in the beginning of the thread that he usually doe snot trade Japan session. I wonder what he can say.
I guess AUD, JPY based pairs can be traded japan too and I noticed that E/U also starts making a move which then continues during Europe/ London session and then New York, but still, I wonder which time the signals have more chances to be good.
well, since it's a momentum strategy you want momentum on your side, thus london session should provide the highest quality signals, because of the influx of volume.

cheers
  • #8,447
  • Oct 18, 2010 2:44pm Oct 18, 2010 2:44pm
cad/jpy m15
New position added at the touch of the diagonal S/R level.

Let's see how it works out.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy m15 18.10.2010.gif Size: 25 KB
  • #8,448
  • Oct 18, 2010 4:10pm Oct 18, 2010 4:10pm
Quoting Custos
well, since it's a momentum strategy you want momentum on your side, thus london session should provide the highest quality signals, because of the influx of volume.

cheers

that's true. I mostly look for entries at that time but sometimes signal happens during Asian session, so, I wonder to take or not. and it has been pbc on E/J an dprobably G/J is doing same.
  • #8,449
  • Oct 18, 2010 6:05pm Oct 18, 2010 6:05pm
Quoting Jackk
Hi NM

My CADJPY is very similar EURJPY.

I'm thinking to follow the suggestion of Mortician and put a first target at 79.10.

What do you think?

Thanks in advance
Yep yep! Keep the targets withing reson because these could come back, but taking a small profit is better than no profit.

--NM
  • #8,450
  • Oct 18, 2010 6:10pm Oct 18, 2010 6:10pm
Quoting NightMoves
Here is a new trade I entered on the EJ pair, this is a 30 min trigger chart. Stop is at BE+ a couple pips I banked some pips on it when I moved my stop, now we will see what it does.

--NM
My EJ trade got stopped out on the second half of the trade for +10 pips, quite a back up it made for sure. But thats trading sometimes you get the big moves and sometimes you dont.

--NM
  • #8,451
  • Oct 18, 2010 6:19pm Oct 18, 2010 6:19pm
Price action of trading pair reminds me of drunk going home. Falling over himself, turning back, right or left but still moving in some predetermined direction over time
Price hit some 25 pips away from my stop now moved higher. Hopefully it will break 1.400 and move higher.
  • #8,452
  • Oct 18, 2010 6:56pm Oct 18, 2010 6:56pm
Preety funny Shiko! Drunken bee in a bottle..lol. I was able to nab 23pips on that eur/jpy too.

Good luck!!

Any thing look good here (anyone), with oil down, and s&p up?
  • #8,453
  • Edited 7:29pm Oct 18, 2010 6:59pm | Edited 7:29pm
Heres my chart......looking at the 4H, D, shows against the tend....I going wait and see.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad m30.gif Size: 70 KB
  • #8,454
  • Edited 12:44am Oct 19, 2010 12:08am | Edited 12:44am
Quoting shiko
that's true. I mostly look for entries at that time but sometimes signal happens during Asian session, so, I wonder to take or not. and it has been pbc on E/J an dprobably G/J is doing same.
In general, you wanna look which currencies you are trading.
euro, gbp & chf are best in london session, since european traders are more interested in those currencies
usd, cad are best in US session, cause american traders are interested in those
jpy, aud, nzd are best in asian session.

So, since we always trade pairs, we have for almost each pair two times, when they become of interest for traders: in case of eur/jpy, it would be london and asian session. Hope you get the picture.

Just my personal belief.
  • #8,455
  • Edited 4:29pm Oct 19, 2010 12:44am | Edited 4:29pm
risking 3 entries against the daily trend

eurusd, gbpusd, usdcad, all on 4h

edit:

all trades set to be

took 1/2 tp at 3r with usdcad, the other 1/2 may run ...
took 1/2 tp at 200sma (2,5r) with gbpusd, the other 1/2 runs ...

edit:

1/2 tp @2,5r with eurusd, other 1/2 runs ...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 4h 19.10.2010.gif Size: 14 KB
Click to Enlarge Name: gu 4h 19.10.2010.gif Size: 15 KB
Click to Enlarge Name: cad 4h 19.10.2010.gif Size: 16 KB
  • #8,456
  • Oct 19, 2010 1:38am Oct 19, 2010 1:38am
I am out at BE. just hit it.
  • #8,457
  • Oct 19, 2010 1:48am Oct 19, 2010 1:48am
I am watching GBP/JPY now. Eur news soon, so it it looks like the only thing now to be traded.
Cad/Jpy has not made worthy retracement but GBP/Jpy did make 38 Fib retracement to previous high/ low. set up both on 4H and 1H.
waiting for bpc.

Attached Image (click to enlarge)
Click to Enlarge Name: gj 1h-4h.gif Size: 73 KB
  • #8,458
  • Oct 19, 2010 2:01am Oct 19, 2010 2:01am
Quoting Custos
In general, you wanna look which currencies you are trading.
euro, gbp & chf are best in london session, since european traders are more interested in those currencies
usd, cad are best in US session, cause american traders are interested in those
jpy, aud, nzd are best in asian session.

So, since we always trade pairs, we have for almost each pair two times, when they become of interest for traders: in case of eur/jpy, it would be london and asian session. Hope you get the picture.

Just my personal belief.

Yeah, thanks Custos. It is very reasonable. I think in most of the times it is better just to go to bed and wait for Europe open as volume is much better and all bpc hold more weight. I did just that yesterday.
Those Aud news killed my trade. It looks like Aud news hold a lot of weight during Asian session and affect a lot of pairs including EU.
  • #8,459
  • Oct 19, 2010 2:26am Oct 19, 2010 2:26am
entered in a new trade: gbp/usd h4.

Confluence of two trendlines, with the daily trend, lets see how it works out.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h4 19.10.2010.gif Size: 27 KB
  • #8,460
  • Oct 19, 2010 2:39am Oct 19, 2010 2:39am
Quoting shiko
I am watching GBP/JPY now. Eur news soon, so it it looks like the only thing now to be traded.
Cad/Jpy has not made worthy retracement but GBP/Jpy did make 38 Fib retracement to previous high/ low. set up both on 4H and 1H.
waiting for bpc.

Attachment
your post made me think of a great discussion point concerning news.

I know it is typically preached that you shouldn't trade around news, and I actually also always thought that this is a good rule.

Now, if we trade with the trend on the daily / weekly or even monthly, isn't it reasonable to assume that the news also follow this trend? I mean, why do we have a trend in the first place? Because of better and better news / worse and worse news. So if we trade with the long-term trend should we actually really worry about news coming out? Isn't that actually another good reason to go into a setup and take the likelihood of the news also following the long-term trend as our advantage?

Just thinking here. Would be great to start a discussion about that.
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