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Trend Trading All Pairs

  • #8,761
  • Nov 2, 2010 9:59am Nov 2, 2010 9:59am
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  • #8,762
  • Nov 2, 2010 12:18pm Nov 2, 2010 12:18pm
Hi Guys/Girls,

I have a few questions... do you guys generally always draw a counter trendline?

Also would you be willing to take the break of the counter trendline even if price hasn't retraced back to a confluence of levels?

Lastly do you require the bpc to occur everytime or would you be happy enough to enter on a 1-2-3 reversal that also happens to break the counter trend line?

So in any case do you always wait for the counter trend line to be broken?

Thanks
  • #8,763
  • Nov 2, 2010 1:46pm Nov 2, 2010 1:46pm
Quoting redsword11
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scalped for now
  • #8,764
  • Nov 2, 2010 2:45pm Nov 2, 2010 2:45pm
Quoting PipRiderFX
Hi Guys/Girls,

I have a few questions... do you guys generally always draw a counter trendline?

Also would you be willing to take the break of the counter trendline even if price hasn't retraced back to a confluence of levels?

Lastly do you require the bpc to occur everytime or would you be happy enough to enter on a 1-2-3 reversal that also happens to break the counter trend line?

So in any case do you always wait for the counter trend line to be broken?

Thanks
I assume you talk about hector setups, so here it goes:
yes, generally you should always draw counter trendlines, if price retraces.
And, price should always retrace back to a confluence level before breaking the counter trendline.
1-2-3 is also enough.
If the outer counter trendline is very flat, I would use a steeper inner one. But that's personal preference.

cheers
  • #8,765
  • Nov 2, 2010 2:54pm Nov 2, 2010 2:54pm
here is a very long-term possbility.
gbp/chf weekly chart. Shows a pin in direction of the trend. So let's see how it closes by the end of the week.
I know in the monthly chart we have a pin indicating a possible bullish move, but well, I don't believe that the trend which started from 2007 should reverse right now (that would be pretty unlucky)

I think it's definitely a setup to watch. Entry below the weekly pin with stop above weekly pin.
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  • #8,766
  • Nov 2, 2010 3:18pm Nov 2, 2010 3:18pm
Quoting Custos
here is a very long-term possbility.
gbp/chf weekly chart. Shows a pin in direction of the trend. So let's see how it closes by the end of the week.
I know in the monthly chart we have a pin indicating a possible bullish move, but well, I don't believe that the trend which started from 2007 should reverse right now (that would be pretty unlucky)

I think it's definitely a setup to watch. Entry below the weekly pin with stop above weekly pin.

Custos, you can trade with about 300 pips stop loss? this is what I get from this bar length.
  • #8,767
  • Nov 2, 2010 3:20pm Nov 2, 2010 3:20pm
Quoting shiko
Custos, you can trade with about 300 pips stop loss? this is what I get from this bar length.
why not?

By the way, if you have a very small account you can take oanda as your broker, it allows you to make very very small positions to accomodate a 300 pip stop loss.

cheers
  • #8,768
  • Nov 2, 2010 7:39pm Nov 2, 2010 7:39pm
30 pips down on Aud/Usd. Closed trade right away after bad housing data.
Oanda's spread on increased loss. I got into trade at NY session. Was thinking breakout time is here. Well, NightMoves is doing right by reacting. I will do same now.
well, so far I see no good Nightmoves/ Hector set ups.
Last 2-3 weeks are not very active. Hopefully this week news will bring some trending back.
  • #8,769
  • Nov 2, 2010 7:41pm Nov 2, 2010 7:41pm
I have had probably 5 trades in 2 weeks. Very hard to get up at 2:00 a.m. and sit sit sit and nothing. Lost my concentration damn it. Still cannot forgive myself as I decided not to take this trade and did not at night but somehow got enticed in the morning.
  • #8,770
  • Nov 2, 2010 9:11pm Nov 2, 2010 9:11pm
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scalping eu and cable PA tech
  • #8,771
  • Nov 2, 2010 10:04pm Nov 2, 2010 10:04pm
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PA suggests a correction in the making
  • #8,772
  • Nov 3, 2010 3:46am Nov 3, 2010 3:46am
I think a lot of pairs are in the very interesting spots. Like E/U, G/U , A/U and so forth.
People are waiting for all news to be released.
Hopefully we will have our trends back.
  • #8,773
  • Nov 3, 2010 4:13am Nov 3, 2010 4:13am
Quoting Custos
I assume you talk about hector setups, so here it goes:
yes, generally you should always draw counter trendlines, if price retraces.
And, price should always retrace back to a confluence level before breaking the counter trendline.
1-2-3 is also enough.
If the outer counter trendline is very flat, I would use a steeper inner one. But that's personal preference.

cheers

Custos, is this before or after?

Sorry, worked it out, retrace to confluence before break and 1-2-3- after break, is this correct?
Regards
  • #8,774
  • Nov 3, 2010 4:22am Nov 3, 2010 4:22am
Quoting howard
Custos, is this before or after?

Sorry, worked it out, retrace to confluence before break and 1-2-3- after beak, is this correct?
yeah, retrace before break. And 1-2-3 should happen with or after the break of the retracement trendline.
  • #8,775
  • Nov 3, 2010 4:24am Nov 3, 2010 4:24am
Quoting shiko
I think a lot of pairs are in the very interesting spots. Like E/U, G/U , A/U and so forth.
People are waiting for all news to be released.
Hopefully we will have our trends back.
yep, this whole week will be very interesting. So many red-coloured news. Gonna be quite volatile I think.
  • #8,776
  • Nov 3, 2010 4:26am Nov 3, 2010 4:26am
USD/CHF looks real good for potential shorting opportunity. Retracement trend line on daily/4H charts got broken. now it is pull back stage. Round numbers... everything looks good but the number of all today's news.
  • #8,777
  • Nov 3, 2010 4:30am Nov 3, 2010 4:30am
Quoting Custos
yep, this whole week will be very interesting. So many red-coloured news. Gonna be quite volatile I think.
I think it would be wise to stay away from entering trades until after all news released. Especially Fund rate and FOMC statement.
  • #8,778
  • Nov 3, 2010 4:32am Nov 3, 2010 4:32am
Quoting shiko
USD/CHF looks real good for potential shorting opportunity. Retracement trend line on daily/4H charts got broken. now it is pull back stage. Round numbers... everything looks good but the number of all today's news.
yes, I also think it's a good opportunity for a short. I think the major problem which we will get is that a news event will trigger the continuation part of that pair. Liquidity would dry up and we can't enter or would enter very late in the move.

But let's see...
  • #8,779
  • Nov 3, 2010 4:41am Nov 3, 2010 4:41am
G/U is making some nice moves, but I think it will not run far. Too much related news to absorb.
I am getting hopeful that some nice moves are coming.
  • #8,780
  • Nov 3, 2010 4:45am Nov 3, 2010 4:45am
Quoting Custos
yes, I also think it's a good opportunity for a short. I think the major problem which we will get is that a news event will trigger the continuation part of that pair. Liquidity would dry up and we can't enter or would enter very late in the move.

But let's see...

Yes, but if the news not what expected it might be move in the opposite direction and trigger stop. It's hard not to trade when such opportunity present. I noticed it often happens just before news.
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