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Trend Trading All Pairs

  • #8,741
  • Nov 2, 2010 2:19am Nov 2, 2010 2:19am
Quoting rubberband
The market can only do two things ... trend and non trend. Non trending markets transition into trending markets, and trending markets transition into non trending markets. The longer the market consolidates, the bigger the trend.


I agree and it is what I am waiting for. It's gonna break. A lot of news coming this week. Hopefully this consolidation will end soon.

BTW, flag formation on Aud/Usd straight into the parity. Aud rate is up. Now what?!
  • #8,742
  • Nov 2, 2010 2:31am Nov 2, 2010 2:31am
Quoting shiko
I agree and it is what I am waiting for. It's gonna break. A lot of news coming this week. Hopefully this consolidation will end soon.

BTW, flag formation on Aud/Usd straight into the parity. Aud rate is up. Now what?!
hope a/u continues up. There were two massive bullish pinbars on the weekly.
  • #8,743
  • Nov 2, 2010 2:43am Nov 2, 2010 2:43am
Quoting Custos
hope a/u continues up. There were two massive bullish pinbars on the weekly.

Yeah, it looks like the best thing now. Nothing else to watch and obviously no A+ grade NightMOves/ Hector's set ups. NightMoves is a very smart trader. He waits. I lost 20 pips yesterday night, going long GBP/USD. At least risked very little. Looked like bpc on 1H set up 15 min trigger. so, sitting on my butt waiitng. Tomorrow until after all news no trading. Rate day. and btw, despite all the news, Aud/Usd is in nice range on 4H. If it doe snot break the parity, the only way to the lower part of the range.
But with this week news, I would say it is risky to take anything right now. I am sure patience will pay off.
  • #8,744
  • Nov 2, 2010 2:46am Nov 2, 2010 2:46am
and again, Eur/Jpy. Correct we if I am wrong but it is moving towards retracement line and bounced from 38 Fib from the last biggest wave.
  • #8,745
  • Nov 2, 2010 2:50am Nov 2, 2010 2:50am
Quoting shiko
Yeah, it looks like the best thing now. Nothing else to watch and obviously no A+ grade NightMOves/ Hector's set ups. NightMoves is a very smart trader. He waits. I lost 20 pips yesterday night, going long GBP/USD. At least risked very little. Looked like bpc on 1H set up 15 min trigger. so, sitting on my butt waiitng. Tomorrow until after all news no trading. Rate day. and btw, despite all the news, Aud/Usd is in nice range on 4H. If it doe snot break the parity, the only way to the lower part of the range.
But with this week news, I would say...
yeah g/u doesn't know where it wants to go. Sitting at a big weekly area.

And yes, patience is key, as usual.
  • #8,746
  • Nov 2, 2010 2:52am Nov 2, 2010 2:52am
Quoting shiko
and again, Eur/Jpy. Correct we if I am wrong but it is moving towards retracement line and bounced from 38 Fib from the last biggest wave.
It is, let's say, I have faith in the trend from the weekly chart. My e/j position is anyways already at b/e, so might as well just wait to see what happens.
Worst case: 0 pips
Best case: a couple of thousand pips
  • #8,747
  • Nov 2, 2010 2:53am Nov 2, 2010 2:53am
E/J on weekly, double low with lower close. setting for break down ?!
  • #8,748
  • Nov 2, 2010 2:58am Nov 2, 2010 2:58am
I think, for long entry on Aud/Usd, there should be bpc/ 123 on at least 5 min at around 1.010
  • #8,749
  • Nov 2, 2010 3:00am Nov 2, 2010 3:00am
for now, it doe snot look very orderly on 5 min and I usually check it also on 5 min chart. it is good to see how price moves. a good indicator.
  • #8,750
  • Nov 2, 2010 3:01am Nov 2, 2010 3:01am
Quoting shiko
I think, for long entry on Aud/Usd, there should be bpc/ 123 on at least 5 min at around 1.010
hehe, you are trading low time-frames. I would look for a bpc at the h4 chart, since the daily looks like the setup chart.
  • #8,751
  • Nov 2, 2010 3:09am Nov 2, 2010 3:09am
bp in place. waiting for c
  • #8,752
  • Nov 2, 2010 3:10am Nov 2, 2010 3:10am
not always, but looking for momentum. I do not like the dip under 1.000
  • #8,753
  • Nov 2, 2010 3:11am Nov 2, 2010 3:11am
Quoting Custos
hehe, you are trading low time-frames. I would look for a bpc at the h4 chart, since the daily looks like the setup chart.

I know what you mean. But you cannot deny thta flag formation usually says something regarding momentum and who is in control. Momentum is very important.
  • #8,754
  • Nov 2, 2010 3:33am Nov 2, 2010 3:33am
  • #8,755
  • Nov 2, 2010 3:48am Nov 2, 2010 3:48am
few things that are against going long on Aud/Usd today.
1.ATR is used up
2.No momentum to speak of
3. Important US news tomorrow + election.
will keep sitting on my butt.
  • #8,756
  • Nov 2, 2010 6:30am Nov 2, 2010 6:30am
Quoting redsword11
Attachment


closed near parity



Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 133 KB




channel trendlines
  • #8,757
  • Nov 2, 2010 7:33am Nov 2, 2010 7:33am
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 64 KB
  • #8,758
  • Nov 2, 2010 7:49am Nov 2, 2010 7:49am
Quoting redsword11
Attachment


Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 73 KB
  • #8,759
  • Nov 2, 2010 8:48am Nov 2, 2010 8:48am
Quoting redsword11
Attachment


Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 80 KB




one position hit tg, other @ be, prices may advance to higher supply
  • #8,760
  • Nov 2, 2010 9:09am Nov 2, 2010 9:09am
Attached Image (click to enlarge)
Click to Enlarge Name: aud div.jpg Size: 108 KB




aud div 15min, might get correction soon
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