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Trend Trading All Pairs

  • #8,821
  • Nov 4, 2010 1:51am Nov 4, 2010 1:51am
Quoting shiko
Gbp/Jpy looks like in nice daily down trend channel.
It looks like down trend is far from over. Price now around Fib 50 and hitting some resistance on Daily around round numbers. 132.00 is nice looking resistance seen both on daily and weekly which is slightly above Fib 61.8.
NightMoves/ Hecotr type chart is mess with SMA around the place., but entry can be made according to DanUk method if everything is right.

Attachment
well, I think also according to danuk's method you need to wait till price clears the 128 round number. Selling against support is not a good idea.
  • #8,822
  • Nov 4, 2010 1:53am Nov 4, 2010 1:53am
Quoting Iamfx
I reckon I nailed that one--dont know about target though
I personally would let it run until the trend changes.
  • #8,823
  • Nov 4, 2010 1:59am Nov 4, 2010 1:59am
Quoting AndreasF
Custos

What do you think about this setup.
Price broke TL on H4 and I would consider to short.

Thanks
Andreas
well, gbp/chf will very likely go down, but as you see yourself you can't draw a clear retracement line across the lows of the beginning of the retracement. I would say it's a bit riskier, since it's not that clear where the real retracement trendline is, but long-term trend is down.

It's anyways a numbers game. If you know your edge, then you just take every setup according to your edge. So if you think gbp/chf fits into your edge, then just take it.
  • #8,824
  • Nov 4, 2010 2:28am Nov 4, 2010 2:28am
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  • #8,825
  • Nov 4, 2010 2:39am Nov 4, 2010 2:39am
Quoting Custos
well, I think also according to danuk's method you need to wait till price clears the 128 round number. Selling against support is not a good idea.
Who told about selling at support?
I have not told anything like this. i clearly pointed to round numbers, but not 128. 132.

0.9700 round number looks like a solid support on USD/CHF. I think we are in for a long time , LOL .I have checked, historically this pair tend to consolidate before making another jump. Hopefully we will be able make some $ from this one.
  • #8,826
  • Nov 4, 2010 2:41am Nov 4, 2010 2:41am
Selling at support/ resistance is BRV/ No Brainer method. I am not doing it now but did for more than a year. It is quite possible but better to go with a flow and it requires a lot of guts to go against the price momentum.
  • #8,827
  • Nov 4, 2010 3:08am Nov 4, 2010 3:08am
  • #8,828
  • Nov 4, 2010 3:17am Nov 4, 2010 3:17am
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...
Think i should check in and say a little hello. Did a quick reading, and i took umbrage with your post there, shiko.

I am writing this from a kiosk in japan(still traveling - business trip), as such, i cant post charts....i used netnadia online forex charts to check some charts.

But...i am surprise by your complain about lack of trades, shiko. Some of the setups i posted in this post:
http://www.forexfactory.com/showpost...postcount=8395

I can count at least 5 that have broken out. Like i said before, those are the breakouts that have tendency to results in hundreds of pips.

AUD/CHF. (long breakout)
http://cdn.forexfactory.com/attachme...8&d=1287128251

AUD/NZD. (short breakout)
http://cdn.forexfactory.com/attachme...1&d=1287128278

CHF/JPY. (short breakout)
http://cdn.forexfactory.com/attachme...2&d=1287128299
(I TOOK this short trade after my long trade failed.)


GBP/NZD. (short breakout)
http://cdn.forexfactory.com/attachme...4&d=1287128518

NZD/USD. (long breakout)
http://cdn.forexfactory.com/attachme...3&d=1287128814

THEY'VE ALL MOVED A COUPLE HUNDRED PIPS.

Unfortunately, my work engagement and incessant traveling to make clients and new accounts happy are currently affecting me. I will be tied up for a couple of weeks. Things will settle back to normal later. I did not take any of these trades(the workload left zero time for anything else, with the exception of chf/jpy short.({after the long failed}) But that doesnt distract from my core point: these are opportunities you could have traded, shiko. Everyone of those setups were posted here on OCT 15TH.
http://www.forexfactory.com/showthre...98#post4098498

And they all yielded a couple hundred pips already. The latest breakout being gbp/nzd and nzd/usd. And the charts for these two were previously available since oct 15th.
http://cdn.forexfactory.com/attachme...9&d=1287128607

http://cdn.forexfactory.com/attachme...3&d=1287128814

Anyways, need to go.
From a public kiosk in the yamanashi prefecture of japan, i wish you all happy trading.

Keep safe.


P.S. rubberband is a douchenozzle.
  • #8,829
  • Nov 4, 2010 3:20am Nov 4, 2010 3:20am
NightMoves, if you read this, how are you? Taking vacation or waiting for set ups to form? It looks like we all will be busy again soon.
If vacation enjoy

This:

Attached Image


or this:

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or may be this

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  • #8,830
  • Nov 4, 2010 3:34am Nov 4, 2010 3:34am
Quoting Mortician.
Think i should check in and say a little hello. Did a quick reading, and i took umbrage with your post there, shiko.

I am writing this from a kiosk in japan(still traveling - business trip), as such, i cant post charts....i used netnadia online forex charts to check some charts.

But...i am surprise by your complain about lack of trades, shiko. Some of the setups i posted in this post:
http://www.forexfactory.com/showpost...postcount=8395

I can count at least 5 that have broken out. Like [url="http://www.forexfactory.com/showpost.php?p=4110705&postcount=8496"]i...

Hello Mortician, great to hear form you.
I know I know. I was watching lower time frames too much. Until I moved to higher time frames and noticed this USD/CHF set up, plus I have been concentrated on SMAs to be in proper order.
I will go through all these charts this weekend to train my eye to recognize these higher time frames opportunity. I only do not get how you use these higher time frames like week and day but have trigger on 15 min.

BTW, I hope you like sushi as I do

Have successful trip and enjoy Japan!
  • #8,831
  • Nov 4, 2010 3:49am Nov 4, 2010 3:49am
Quoting shiko
Who told about selling at support?
I have not told anything like this. i clearly pointed to round numbers, but not 128. 132.

0.9700 round number looks like a solid support on USD/CHF. I think we are in for a long time , LOL .I have checked, historically this pair tend to consolidate before making another jump. Hopefully we will be able make some $ from this one.
well, gbp/jpy made a tripple bottom at around 128. That's why I was saying, you would be selling against support. That's why in my opinion it would be wiser to wait for a break through that tripple bottom.
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  • #8,832
  • Nov 4, 2010 3:54am Nov 4, 2010 3:54am
Quoting Custos
well, gbp/jpy made a tripple bottom at around 128. That's why I was saying, you would be selling against support. That's why in my opinion it would be wiser to wait for a break through that tripple bottom.
ah, sorry for misunderstanding. I saw G/J around 131. 00 area so got confused. This G/J is unnaturally tame for this pair. Volatility is confined to this narrowing triangle. Something gotta give. Top or bottom. This pair gotta go somewhere.
I need to stop watching lower time frames. It is like a disease.
  • #8,833
  • Nov 4, 2010 3:55am Nov 4, 2010 3:55am
E/U and G/U are moving nice. Hope today's news will give a necessary push. Next week not much news which is good.
  • #8,834
  • Nov 4, 2010 3:58am Nov 4, 2010 3:58am
Quoting shiko
ah, sorry for misunderstanding. I saw G/J around 131. 00 area so got confused. This G/J is unnaturally tame for this pair. Volatility is confined to this narrowing triangle. Something gotta give. Top or bottom. This pair gotta go somewhere.
I need to stop watching lower time frames. It is like a disease.
haha, yeah, I think sooner or later that pair will break out big. I obviously would favor the downside, since the long-term trend is down as well.

And for watching lower time-frames... they are the devil. Most of the time, when I traded the lower time-frames, I lost all the money I gained from the higher time-frames. True story
  • #8,835
  • Nov 4, 2010 3:59am Nov 4, 2010 3:59am
BTW,NZD/USD looks like on its way to parity. I have not been looking at it but I will since now. Looks like strong trend.
  • #8,836
  • Nov 4, 2010 4:02am Nov 4, 2010 4:02am
Quoting shiko
BTW,NZD/USD looks like on its way to parity. I have not been looking at it but I will since now. Looks like strong trend.
yep, actually, with danuk's method you would be long already from the pinbar which formed at a critical weekly support.
Attached Image (click to enlarge)
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  • #8,837
  • Nov 4, 2010 4:07am Nov 4, 2010 4:07am
Quoting Custos
haha, yeah, I think sooner or later that pair will break out big. I obviously would favor the downside, since the long-term trend is down as well.

And for watching lower time-frames... they are the devil. Most of the time, when I traded the lower time-frames, I lost all the money I gained from the higher time-frames. True story
that's true. this week small losing trades all taken on smaller time frames.
I am actually only morphing into higher time frame trader now.
Have been trading for 2 years and almost always on lower TFs. Moved to 1H with No Brainer trades. learned about importance of s/r. Now I believe time is ripe to make another step. Trading with you guys help a lot to let trades run. This is the major part.

Ok, what USD/CHF doing? ok, 40 more pips and I canm close half my position and move stop to BE.
I used to jump on every pip and really never let profits run. Psychology is changing
  • #8,838
  • Nov 4, 2010 4:08am Nov 4, 2010 4:08am
Quoting Custos
yep, actually, with danuk's method you would be long already from the pinbar which formed at a critical weekly support.
yes. btw, how many screens you got? I have one. I check charts on MT4 but trade from Oanda. I sure miss many opportunity because of this. Eur/Chf is one example. i was watching , but then got concentrated on other pairs and forgot about it.
  • #8,839
  • Nov 4, 2010 4:19am Nov 4, 2010 4:19am
Quoting shiko
yes. btw, how many screens you got? I have one. I check charts on MT4 but trade from Oanda. I sure miss many opportunity because of this. Eur/Chf is one example. i was watching , but then got concentrated on other pairs and forgot about it.
honestly, I am doing all my trading from one screen. But I always have a sound alarm if price approaches an area of interest, so I don't miss any moves. If you really only trade from weekly S/R levels you barely miss a move and if your lowest trading time-frame is h4, you have always 4 hours to go through the charts which are currently at such an S/R level.
More often than not that just takes 5 min every 4 hours to look, if a pinbar or similar things have formed at key areas.
  • #8,840
  • Nov 4, 2010 4:25am Nov 4, 2010 4:25am
I think this is one of the things to watch, am I right?
weekly should be used to see big picture. Daily for set up and say 4H for trigger.
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