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Trend Trading All Pairs

  • #8,561
  • Oct 21, 2010 1:35pm Oct 21, 2010 1:35pm
Quoting shiko
NightMoves, I hope you are reading out discussion. I wonder, what's your opinion on going short E/J if bpc forms itself into 113.00 round number at late New York session time?
It would be great to hear you as you are a careful trader who takes only the best set ups.

Also check out nzd/jpy
  • #8,562
  • Edited 2:19pm Oct 21, 2010 2:05pm | Edited 2:19pm
Quoting shiko
I do not like 2 things. Time is one. Not enough liquidity.
Second thing is until 112.80 is broken as you see that red line technically it still looks like up trend on 1H. So, I am hesitating to enter short on 113.00 which is the bottom of the move for now. Round number...

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well, I would enter nonetheless. E/J is at such a good point right now - going back into the weekly downtrend.

Not every trade has to work out, but if E/J is really going back into the weekly downtrend, then you are for sure in for a 1000 pips at least and possibly much further, for risking 40 pips?
Not a bad deal, is it?

I know the setup doesn't trigger at the right time, but e/j is just in such a good place right now. If it really goes down then you will be glad that you took that setup.

just my opinion. I have anyways already multiple positions with e/j, so am looking more into other pairs to diversify for the moment.

cheers
  • #8,563
  • Edited 3:13pm Oct 21, 2010 3:09pm | Edited 3:13pm
Quoting Custos
well, I would enter nonetheless. E/J is at such a good point right now - going back into the weekly downtrend.

Not every trade has to work out, but if E/J is really going back into the weekly downtrend, then you are for sure in for a 1000 pips at least and possibly much further, for risking 40 pips?
Not a bad deal, is it?

I know the setup doesn't trigger at the right time, but e/j is just in such a good place right now. If it really goes down then you will be glad that you took that setup.

just my opinion. I have anyways already multiple...
Nice bounce of the 38.2 fib 30min too.

Good luck!
  • #8,564
  • Oct 21, 2010 4:23pm Oct 21, 2010 4:23pm
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scalping cable
  • #8,565
  • Oct 21, 2010 5:00pm Oct 21, 2010 5:00pm
Quoting Custos
well, I would enter nonetheless. E/J is at such a good point right now - going back into the weekly downtrend.

Not every trade has to work out, but if E/J is really going back into the weekly downtrend, then you are for sure in for a 1000 pips at least and possibly much further, for risking 40 pips?
Not a bad deal, is it?

I know the setup doesn't trigger at the right time, but e/j is just in such a good place right now. If it really goes down then you will be glad that you took that setup.

just my opinion. I have anyways already multiple positions...


yes, I understand your point. anyway, there was b and p but still no see, so there was no conflict
I guess if there still will be continuation I will be looking to enter but cause it is the end of the week I will not be risking more than 1%.
  • #8,566
  • Oct 21, 2010 5:58pm Oct 21, 2010 5:58pm
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scalped aud
  • #8,567
  • Oct 21, 2010 8:28pm Oct 21, 2010 8:28pm
Quoting shiko
NightMoves, I hope you are reading out discussion. I wonder, what's your opinion on going short E/J if bpc forms itself into 113.00 round number at late New York session time?
It would be great to hear you as you are a careful trader who takes only the best set ups.
HI Shiko,
I acutually entered the EJ trade from my cell phone right after the close of the London session today, I took it this trade soley based on the bounce off of the trend line, however the 113.00 level and a bpc below that level should be a good trade. That is where I watching for it to go before entering but due to time contraints I entered early with smaller lot size, my entry earlier was at 113.50, I figured I could trade it down to the lower trend line but now that it is playing around with the idea of busting a move I have moved my stop to BE and now just waiting to see what it is going to do.

--NM
  • #8,568
  • Edited 2:02am Oct 22, 2010 1:42am | Edited 2:02am
Seems to be setups on all yen pairs . . .

edit* most yen pairs
  • #8,569
  • Oct 22, 2010 2:46am Oct 22, 2010 2:46am
GBP/JPY weekly/daily breakout.

I expect support/resistance at those red lines. Adjust to them when price gets there.

Ultimately, i am aiming for +500 to +800 pips here. Of course, there will be pyramiding and some BE along the way...

that is assuming price follows the downtrend.
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  • #8,570
  • Oct 22, 2010 6:28am Oct 22, 2010 6:28am
Quoting NightMoves
HI Shiko,
I acutually entered the EJ trade from my cell phone right after the close of the London session today, I took it this trade soley based on the bounce off of the trend line, however the 113.00 level and a bpc below that level should be a good trade. That is where I watching for it to go before entering but due to time contraints I entered early with smaller lot size, my entry earlier was at 113.50, I figured I could trade it down to the lower trend line but now that it is playing around with the idea of busting a move I have moved my stop...

Hi NightMoves, I fail to see how entry from 113.50 could have been made on break out of retracement line, but you probably means entry based on failure to break down trend line the one that you actually can see on my chart too. I am so focusted on mastering your method that actually enter only based on bpc around retracement lines for now. I did enter too. But everything turned as I expected. entred with momentum at 113.00 when continuation was confirmed and there was momentum, but 112.80 level and general overall formation of higher highs still wa sintact I set stoop to BE as soon as I was in profit and price closed on 112.80. then I got stopped.

Here what I would be looking for to enter when 113.00 and 112.80 will be broken and lower lows lower highs formation confirmed along with bpc.
However it is Friday and I have been trading long enough to know that Friday produces little break outs and sustained moves. Will be waiting for Sunday night.

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  • #8,571
  • Oct 22, 2010 6:35am Oct 22, 2010 6:35am
Quoting NaughtyPip
Seems to be setups on all yen pairs . . .

edit* most yen pairs

Yeah, but I am only interested in E/J and G/J. Potential is huge and these pairs do they move man ? However I will not trade today anymore. Gotta go and then even if something happens it will be too late for me.
I also think that Friday is not a good day to trade . May be for Custos and Mortician as they trade extremely long term.
  • #8,572
  • Oct 22, 2010 6:48am Oct 22, 2010 6:48am
NightMoves, I thing that if strictly to follow your method enter should have been exactly where I entered on breakout, pull back and continuation around 113.00, am I right? Have a great weekend by the way

P.S:: GBP/JPY forms one bpc after another. It looks like big guys are serious about breaking that support below.
  • #8,573
  • Oct 22, 2010 7:54am Oct 22, 2010 7:54am
Thanks NaughtyPip for the post. Here it is again with hopefully the pics where they show up in the post.

One thing I am not to sure about is if I am setting my trendlines properly for the retracements. I have added a couple of charts and would love it if you guys could comment. Please let me know if I should make some changes and how.

Also with this style of trading, if the HTF (Daily) shows an uptrend and the LTF (1hr) shows a downtrend should I worry about the 1hr being valid?

Also if price breaks through your channel and comes back do you move your channel to reflect the high or low (like in 1st chart)? Do you wait to see if it holds the new area first or just call the trade invalid?

And in the last chart I am curious how do you handle if price breaks above your channel in the wrong direction? I know I would not trade against the trend, but if price moves back into the channel and then breaks to the direction of the trend is it still valid. Have a look at this chart for an example.
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  • #8,574
  • Oct 22, 2010 8:02am Oct 22, 2010 8:02am
Quoting Siddhi69
Thanks NaughtyPip for the post....
don't know if you saw it, but I actually answered your last post in these two posts:
http://www.forexfactory.com/showpost...postcount=8541
http://www.forexfactory.com/showpost...postcount=8539

cheers
  • #8,575
  • Oct 22, 2010 10:06am Oct 22, 2010 10:06am
well, nothing so far, but I think this pimple might burst on Sunday
  • #8,576
  • Oct 22, 2010 11:19am Oct 22, 2010 11:19am
Quoting NaughtyPip
Seems to be setups on all yen pairs . . .

edit* most yen pairs
the CHF's are.....
  • #8,577
  • Oct 22, 2010 1:37pm Oct 22, 2010 1:37pm
If I am not mistaken we have a triangle formed on E/U 1-4H chart

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  • #8,578
  • Oct 22, 2010 2:05pm Oct 22, 2010 2:05pm
Thanks Custos! I did miss you reply. Sorry for the repost!

I am really excited about the trading style. So far it has been the most profitable system for me.

Again thanks!
  • #8,579
  • Oct 22, 2010 9:52pm Oct 22, 2010 9:52pm
BTW, anyone is watching this? Inside bar on Aud/ Usd formed under broken uptrend trend line. Any opinions? It is hard to break 1000 level for every pair. Cad has been trying it for 5 years. It means statistically R;R is not so good. While we have a long way down.

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  • #8,580
  • Oct 23, 2010 3:38am Oct 23, 2010 3:38am
Quoting shiko
BTW, anyone is watching this? Inside bar on Aud/ Usd formed under broken uptrend trend line. Any opinions? It is hard to break 1000 level for every pair. Cad has been trying it for 5 years. It means statistically R;R is not so good. While we have a long way down.

Attachment
we just broke the all-time high (at least on my chart). We got an uptrend since january 2009.
Remember: not technicals drive the chart, but fundamentals. As long as there are not some severe changes in the austrialian/US economy, the trend will continue, no matter which number we approach.
And lastly, don't try picking tops and bottoms. Stay with the trend, no matter what.

cheers
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