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Trend Trading All Pairs

  • #8,781
  • Nov 3, 2010 4:49am Nov 3, 2010 4:49am
Quoting shiko
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.
yeah, seems like the uptrend is continuing. A possbility could be that g/u is gonna run now for a couple of hundred pips and then retrace back to around 1.6. That's when I am going to find an entry.
  • #8,782
  • Nov 3, 2010 5:02am Nov 3, 2010 5:02am
Quoting Custos
yeah, seems like the uptrend is continuing. A possbility could be that g/u is gonna run now for a couple of hundred pips and then retrace back to around 1.6. That's when I am going to find an entry.

Yes, exactly my thinking as well. I am flipping through all pairs on daily/4H to see where we are in sweet spots
  • #8,783
  • Nov 3, 2010 5:24am Nov 3, 2010 5:24am
E/J is testing weekly trend line. It has actually been glued to it for past few weeks. It might be signs of trend change. interesting.
  • #8,784
  • Nov 3, 2010 5:29am Nov 3, 2010 5:29am
Quoting shiko
E/J is testing weekly trend line. It has actually been glued to it for past few weeks. It might be signs of trend change. interesting.
yes, going to be very interesting. So let's see what happens.
  • #8,785
  • Nov 3, 2010 5:41am Nov 3, 2010 5:41am
Quoting Custos
yes, going to be very interesting. So let's see what happens.
I think you cannot disagree that the way up is much longer than the way down
Anyway, let's see what will happen.
  • #8,786
  • Nov 3, 2010 5:45am Nov 3, 2010 5:45am
Quoting shiko
I think you cannot disagree that the way up is much longer than the way down
Anyway, let's see what will happen.
yes, but as I said, stop is at b/e, which is around 114.10. So I am comfortable letting price decide the fate of my trade
  • #8,787
  • Nov 3, 2010 6:03am Nov 3, 2010 6:03am
Quoting Custos
yes, but as I said, stop is at b/e, which is around 114.10. So I am comfortable letting price decide the fate of my trade
I think you are right. I have been doing same. The only difference I will take partial profit and then let the rest go.

What I think should be changed is to start taking signals from higher time frames most of the time. It's less choppy.
  • #8,788
  • Nov 3, 2010 6:19am Nov 3, 2010 6:19am
Quoting shiko
I think you are right. I have been doing same. The only difference I will take partial profit and then let the rest go.

What I think should be changed is to start taking signals from higher time frames most of the time. It's less choppy.
yes, I now only trade from h4 and daily charts, and sometimes from the weekly. You have less trades, but the trades you do take are much higher probability. Similar to danuk's advanced trend trading thread and the silent service method thread.
  • #8,789
  • Nov 3, 2010 6:31am Nov 3, 2010 6:31am
Quoting Custos
yes, I now only trade from h4 and daily charts, and sometimes from the weekly. You have less trades, but the trades you do take are much higher probability. Similar to danuk's advanced trend trading thread and the silent service method thread.

Yes, I am reading and checking on DAN UK method. it is similar to NightMoves/ Hecor's method , this is the reason I like it too. Some small differences and trigger of 4H charts. BTW, are you looking only for those candles sticks formations for entries Dan posted on his first page of his advanced method thread or you use 123/ bpc method? I noticed that most of the time it is all same. If to open trigger 4H candles it will most of the time show 123/ bpc on lower time frame.
  • #8,790
  • Nov 3, 2010 6:32am Nov 3, 2010 6:32am
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  • #8,791
  • Nov 3, 2010 7:01am Nov 3, 2010 7:01am
Quoting shiko
Yes, I am reading and checking on DAN UK method. it is similar to NightMoves/ Hecor's method , this is the reason I like it too. Some small differences and trigger of 4H charts. BTW, are you looking only for those candles sticks formations for entries Dan posted on his first page of his advanced method thread or you use 123/ bpc method? I noticed that most of the time it is all same. If to open trigger 4H candles it will most of the time show 123/ bpc on lower time frame.
hm, I tend to use candle sticks formations more. They tend to fail less than bpc's. With bpc's you more often get to use a tighter stop, but the failure rate is a tick higher (that's just from my experience). However with a candle stick formation you put the stop behind the high. So the trade has more room to breath. Also more often than not, you are already quite in profit from a candle entry until the bpc finally arrives.

But just my opinion.
  • #8,792
  • Nov 3, 2010 7:28am Nov 3, 2010 7:28am
Quoting Custos
hm, I tend to use candle sticks formations more. They tend to fail less than bpc's. With bpc's you more often get to use a tighter stop, but the failure rate is a tick higher (that's just from my experience). However with a candle stick formation you put the stop behind the high. So the trade has more room to breath. Also more often than not, you are already quite in profit from a candle entry until the bpc finally arrives.

But just my opinion.
Thanks for all your valuable explanations, Custos.
I think I see things much clearer now than I did 2-3 months ago.

Andreas
  • #8,793
  • Nov 3, 2010 8:01am Nov 3, 2010 8:01am
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  • #8,794
  • Nov 3, 2010 8:09am Nov 3, 2010 8:09am
Quoting redsword11
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momentum south grows as first indicated by the LARGE bear in right shoulder - no such thing as noise ............
  • #8,795
  • Nov 3, 2010 8:19am Nov 3, 2010 8:19am
Quoting redsword11
Attachment



momentum south grows as first indicated by the LARGE bear in right shoulder - no such thing as noise ............


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one position gunned tg, other @ BE



ZERO STRESS
  • #8,796
  • Nov 3, 2010 8:27am Nov 3, 2010 8:27am
Quoting Custos
yeah, seems like the uptrend is continuing. A possbility could be that g/u is gonna run now for a couple of hundred pips and then retrace back to around 1.6. That's when I am going to find an entry.
Please forgive a newbie question on the g/u; wouldn't it be a valid entry to enter upon the continuation of the breakout-pullback now in place on H4? That is entry above 1.6150. Price has now broken the resistance level at around 1.6000 and the down trendline just above that.
Custos and Shiko, I guess you mean that price is most likely to retrace back to around 1.6000 retesting the resistance level for support? And if price actually does a continuation above 1.6150 before going back to retest the 1.6000 level, it is more likely to be a fake out that turns back down again?
  • #8,797
  • Nov 3, 2010 8:30am Nov 3, 2010 8:30am
Quoting redsword11
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  • #8,798
  • Nov 3, 2010 8:33am Nov 3, 2010 8:33am
Quoting annis
Please forgive a newbie question on the g/u; wouldn't it be a valid entry to enter upon the continuation of the breakout-pullback now in place on H4? That is entry above 1.6150. Price has now broken the resistance level at around 1.6000 and the down trendline just above that.
Custos and Shiko, I guess you mean that price is most likely to retrace back to around 1.6000 retesting the resistance level for support? And if price actually does a continuation above 1.6150 before going back to retest the 1.6000 level, it is more likely to be a fake out...
yes, essentially what I was saying is that price normally retests the level it breaks out from. If we hold this premise to be true, it is unlikely that we can establish a long-term position, when price is just breaking that level. Of course it is highly likely that price could move several hundred pips. So if you are trading for some quick hundred pips, then the break is probably okay as well. But I am shooting for long-term profits, so I am waiting for the retrace back to the 1.6 level.
But again, nothing wrong or right in trading. Just stating what I am doing right now at my stage of experience.

cheers
  • #8,799
  • Nov 3, 2010 9:25am Nov 3, 2010 9:25am
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  • #8,800
  • Nov 3, 2010 11:31am Nov 3, 2010 11:31am
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