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Trend Trading All Pairs

  • #8,661
  • Oct 26, 2010 4:12am Oct 26, 2010 4:12am
Quoting Mortician.
what do you know?

Was a good hector style setup on gbp/usd. Didnt trade it though because of the news.
  • #8,662
  • Oct 26, 2010 4:15am Oct 26, 2010 4:15am
Quoting Mortician.
what do you know?
better to be safe than sorry
  • #8,663
  • Oct 26, 2010 4:18am Oct 26, 2010 4:18am
Quoting NaughtyPip
Was a good hector style setup on gbp/usd. Didnt trade it though because of the news.
GDP news are one of the news i steer clear of. I mentioned it here before:
Quoting Mortician.
I basically dont care about any news with H4/d1/w1/m1 trades; unless it is interest rates news or NFP news or QE news or GDP news.
On lower time frames, the volatility of red/orange news can hit tight stops.

That is just me.
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  • #8,664
  • Oct 26, 2010 4:19am Oct 26, 2010 4:19am
Quoting Mortician.
In my humble opinion, not really. I expect a full retracement back to 1.5950 area in a couple of days.

Mortician, what was your reason for the prediction of a retrace on this, was it simply the lower channel line?


Regards
  • #8,665
  • Oct 26, 2010 4:21am Oct 26, 2010 4:21am
Quoting NaughtyPip
Mortician, what was your reason for the prediction of a retrace on this, was it simply the lower channel line?


Regards
because price almost always tests the S/R level it breaks.
  • #8,666
  • Oct 26, 2010 4:24am Oct 26, 2010 4:24am
Quoting NaughtyPip
Mortician, what was your reason for the prediction of a retrace on this, was it simply the lower channel line?


Regards
Measure move analysis or Price projection. Also, countless experience trading and watching breakouts. You tends to get a feel of what is going to happen given certain types of breakouts.

But, let us not fool ourselves: if that GDP news was RED for UK, GBP/AUD would have fell like a rock:fundamentals would have render that technical analysis useless. (although price was already at 1.5945 before the gdp news hit)

On another note: Let us see how GBP/AUD handles that trendline:
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  • #8,667
  • Oct 26, 2010 4:25am Oct 26, 2010 4:25am
Quoting Custos
because price almost always tests the S/R level it breaks.
Absolutely. The man is right, naughtypip. And more succint than I in explaining it.


Quoting Custos
better to be safe than sorry http://cdn.forexfactory.com/images/s...im/winking.gif
Naturally.
  • #8,668
  • Oct 26, 2010 4:35am Oct 26, 2010 4:35am
Quoting Mortician.
Absolutely. The man is right, naughtypip. And more succint than I in explaining it.




Naturally.

Ok, thank guys.

Regards
  • #8,669
  • Oct 26, 2010 5:45am Oct 26, 2010 5:45am
On another note. My long CHF/JPY has been triggered with the completion of 1,2,3 formation on the hourly. entry = 83.34, SL = 82.84. When price reaches 83.81, roughly 1:1, i will BE the trade.

SETUP CHART HERE:http://www.forexfactory.com/showpost...postcount=8587

trigger chart attached below:
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  • #8,670
  • Oct 26, 2010 7:03am Oct 26, 2010 7:03am
Quoting Mortician.
GBP/AUD has retraced all the way to 1.5950 and blasted through it(good thing we only trade 1,2,3 formation or trendline breaks.)


No patience man I closed it at about -25-30 pips tonight
Cannt wait while in the red
  • #8,671
  • Oct 26, 2010 7:12am Oct 26, 2010 7:12am
This was quite a retracement on all JPY and GBP related pairs tonight.
I was not trading. Looking for set ups to start forming. EUR/JPY still looks pretty close to retracement so, again waiting for bpc. USD/CHF actually starts forming set up on 4H but also exactly touching MA30 on daily. So no traidng long so far. May be it is starting a retracement on daily.
  • #8,672
  • Oct 26, 2010 7:29am Oct 26, 2010 7:29am
Eur/jpy is again using 113.00 as support. It looks like stuck in narrow range 112.50 to 113.80. I guess when break happens it will be good money after all. The longer it is in the range the stronger the break out.
  • #8,673
  • Oct 26, 2010 10:38am Oct 26, 2010 10:38am
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  • #8,674
  • Oct 26, 2010 10:47am Oct 26, 2010 10:47am
Quoting Mortician.
On another note. My long CHF/JPY has been triggered with the completion of 1,2,3 formation on the hourly. entry = 83.34, SL = 82.84. When price reaches 83.81, roughly 1:1, i will BE the trade.

SETUP CHART HERE:http://www.forexfactory.com/showpost...postcount=8587

trigger chart attached below:
Well, that ended quite violently in a loss. Chart attached:
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  • #8,675
  • Oct 26, 2010 7:17pm Oct 26, 2010 7:17pm
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  • #8,676
  • Oct 26, 2010 7:57pm Oct 26, 2010 7:57pm
bought aud @ 0.98005
  • #8,677
  • Oct 27, 2010 2:01am Oct 27, 2010 2:01am
will be traveling for a couple of weeks.

best of luck to everyone.
  • #8,678
  • Oct 27, 2010 7:04am Oct 27, 2010 7:04am
Quoting Mortician.
will be traveling for a couple of weeks.

best of luck to everyone.

Have a nice trip.
I am taking break till November 1 as well.
  • #8,679
  • Oct 27, 2010 11:46am Oct 27, 2010 11:46am
and frankly, I think it is a good time to take a break. Most of the pairs are either mess or like Eur/Chf and USD/CHF are having conflicting signals against higher time frames trends.
  • #8,680
  • Oct 27, 2010 11:52am Oct 27, 2010 11:52am
Quoting shiko
and frankly, I think it is a good time to take a break. Most of the pairs are either mess or like Eur/Chf and USD/CHF are having conflicting signals against higher time frames trends.
I partly agree, however, I think usd/chf is at a nice spot right now. Hopefully now we get a continued move to the downside.

cheers

attached is usd/chf weekly
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