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Trend Trading All Pairs

  • #9,241
  • Nov 15, 2010 9:49am Nov 15, 2010 9:49am
Looks like Eur/Cad worked out pretty nice. I did not take it though.
  • #9,242
  • Nov 15, 2010 10:18am Nov 15, 2010 10:18am
I have only been trading since Feb. Since then I have done more reading than I ever had for anything. Truly information overload. The problem I am running into (I am sure it is the same for any new trader) is trying to figure out which style of trading best suits my personality. There is so many ways to trade that everything becomes a blur when you are trying to gather the tools you will need to be successful. I have a pretty good grasp of the basics. And I have had pretty good success so far. So I look forward to learning all I can.
  • #9,243
  • Nov 15, 2010 10:43am Nov 15, 2010 10:43am
Just checked this thread and i like it. Shiko, your analysis of charts is pretty impressive. Gonna be back for sure. Just right now i need to sleep, i am totally tired. talk soon cheers
  • #9,244
  • Nov 15, 2010 1:49pm Nov 15, 2010 1:49pm
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 75 KB
  • #9,245
  • Nov 15, 2010 2:02pm Nov 15, 2010 2:02pm
Quoting Siddhi69
I have only been trading since Feb. Since then I have done more reading than I ever had for anything. Truly information overload. The problem I am running into (I am sure it is the same for any new trader) is trying to figure out which style of trading best suits my personality. There is so many ways to trade that everything becomes a blur when you are trying to gather the tools you will need to be successful. I have a pretty good grasp of the basics. And I have had pretty good success so far. So I look forward to learning all I can.
Actually it is an interesting topic you are talking about. I mean the information overload. I can just speak from my own development process: 99% of information I read about trading has been completely useless in terms of profitable application. Actually I would have been better off never reading a thing about trading in articles and forums, cause then I would have started to use my own brain earlier.
Problem is that "most" of the old veterans in trading who are successful for decades don't write much. So it comes down to the "blind" leading the "blind". And secondly, it is also difficult to distinguish old veterans from a "blind" trader, cause some of the "blind" will tell you that they are actually old veterans. That in turn makes it again more difficult to differentiate between useful information and completely useless (unprofitable) information. In the end it comes down to YOU understanding the market, testing, testing & testing.
Like in the academic world: create a hypothesis and then test it with statistical analysis. That's the only way.

And finally, yes there are a lot of different ways to trade, but there are only a handful of profitable strategies. So you gotta be determined to find one of them, like edison who failed a thousand times before he invented the light bulb.

best regards
  • #9,246
  • Nov 15, 2010 2:29pm Nov 15, 2010 2:29pm
Quoting redsword11
Attachment

Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 77 KB


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aud tg around 0.98500
  • #9,247
  • Nov 15, 2010 2:35pm Nov 15, 2010 2:35pm
I understand we are trend trading here this one is hard to ignore:
Eur/Aud
Pin bar on weekly.

retracement to 50-62 fib on last week bar today.
another pin bar on 4H.
my finger is itching.

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Click to Enlarge Name: euraud weekly.gif Size: 72 KB


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Click to Enlarge Name: euraud daily.gif Size: 70 KB


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  • #9,248
  • Nov 15, 2010 2:44pm Nov 15, 2010 2:44pm
Eur/Usd, if nothing drastic happens we already have double low with hopefully lower close on E/U daily...
break out, pull back to some RN/ S/R and we might jump in.

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  • #9,249
  • Nov 15, 2010 2:45pm Nov 15, 2010 2:45pm
Quoting shiko
I understand we are trend trading here this one is hard to ignore:
Eur/Aud
Pin bar on weekly.

retracement to 50-62 fib on last week bar today.
another pin bar on 4H.
my finger is itching.

Attachment

Attachment

Attachment
It is funny how the same pair can be perceived differently by two traders.
Actually there was a great short opportunity today in direction of the main trend. Nice confluence of S/R level, trendline, 50% fib & pinbar.
Granted the S/R level was not taken from the weekly but from the daily, but I think it was still valid.

Look at the weekly, and look how insignificant that weekly pinbar looks compared to the overall trend and size of the other bars. I don't think it is likely that sellers will stop selling.

Attached is eur/aud h4
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Click to Enlarge Name: euraud h4 15.11.2010.gif Size: 33 KB
  • #9,250
  • Nov 15, 2010 2:49pm Nov 15, 2010 2:49pm
Quoting shiko
Eur/Usd, if nothing drastic happens we already have double low with hopefully lower close on E/U daily...
break out, pull back to some RN/ S/R and we might jump in.

Attachment
I am actually thinking to buy at my arrow. Lots of confluence there.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd d1 15.11.2010.gif Size: 33 KB
  • #9,251
  • Nov 15, 2010 2:53pm Nov 15, 2010 2:53pm
Quoting Custos
It is funny how the same pair can be perceived differently by two traders.
Actually there was a great short opportunity today in direction of the main trend. Nice confluence of S/R level, trendline, 50% fib & pinbar.
Granted the S/R level was not taken from the weekly but from the daily, but I think it was still valid.

Look at the weekly, and look how insignificant that weekly pinbar looks compared to the overall trend and size of the other bars. I don't think it is likely that sellers will stop selling.

Attached is eur/aud h4

Yeah, I know, I did not take it because it was not 100% and yes, because of pin bar on weekly. Doe snot matter the trend. Pin bar on weekly it is hard to ignore. it is not 1H pin bar...
I pity I did not take Eur/Cad, because it only retraced to 23 fib and not even to 38 level.
  • #9,252
  • Nov 15, 2010 2:59pm Nov 15, 2010 2:59pm
Quoting Custos
I am actually thinking to buy at my arrow. Lots of confluence there.

and this I will be waiting. If it breaks to downside and retraces to some nice resistance/ round number i will probably sell it. I think it is still not decided but the pair is making lower lows. If to check monthly we are actually in longer term down trend

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I think most of the time we see same things but here, price telling different story for now. Let's check what price will do. It might break to downside, but it also might break to upside... in this case we can wait for retracement and buy at some RN, support level with nice fib level
  • #9,253
  • Nov 15, 2010 3:00pm Nov 15, 2010 3:00pm
Quoting shiko
Yeah, I know, I did not take it because it was not 100% and yes, because of pin bar on weekly. Doe snot matter the trend. Pin bar on weekly it is hard to ignore. it is not 1H pin bar...
I pity I did not take Eur/Cad, because it only retraced to 23 fib and not even to 38 level.
yeah, eur/cad h4 had some nice pinbars at a prime location. Would have been a great opportunity to enter there.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad h4 15.11.2010.gif Size: 26 KB
  • #9,254
  • Nov 15, 2010 3:00pm Nov 15, 2010 3:00pm
it already actually broke 10 pips below Friday's low.
  • #9,255
  • Nov 15, 2010 3:03pm Nov 15, 2010 3:03pm
Quoting Custos
yeah, eur/cad had some nice pinbars at a prime location. Would have been a great opportunity to enter there.
and multiple double/ triple bottoms bars., I just went to bed when it was making attempt number 3. and then, it broke, returned and made 1H pin bar. excellent. BTW, while waiting for all this to develop, I am playing pin bars and inside bars on 15 min another account. occupies my time and makes my adrenalin jump.... but stops tend to be very small actually.
  • #9,256
  • Edited 3:36pm Nov 15, 2010 3:15pm | Edited 3:36pm
Quoting shiko
and this I will be waiting. If it breaks to downside and retraces to some nice resistance/ round number i will probably sell it. I think it is still not decided but the pair is making lower lows. If to check monthly we are actually in longer term down trend

Attachment


I think most of the time we see same things but here, price telling different story for now. Let's check what price will do. It might break to downside, but it also might break to upside... in this case we can wait for retracement and buy at some RN, support level...
yeah that is the question, is eur/usd trending now down, or did it just bounce off from a monthly trendline.
Well, I don't wanna get into economics again, but I am more biased to the upside. Here is why: USA has a trillion dollar of debt outstanding, is pumping in hundreds of billions of dollars almost every half year and has no real industrial sector to speak of. If the USA won't crash from the debt, it will certainly from the hyper inflation it creates by printing new money every day and pumping it into the economy to keep interest rates artificially low.
On the other hand we have europe, yeah also with its problems (two countries near bankcruptcy), but europe as a whole has made big saving programs and has a central bank that actually cares about inflation, so it won't pump in too much money into the economy. France and germany have a good industrial base, and germany's economy is growing again possibly pulling up other european countries as well.
Just my opinion, if anybody has a more professional one, please go ahead and post.
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Click to Enlarge Name: eurusd m1 15.11.2010.gif Size: 26 KB
  • #9,257
  • Nov 15, 2010 3:28pm Nov 15, 2010 3:28pm
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thoughts anyone ?
  • #9,258
  • Nov 15, 2010 3:31pm Nov 15, 2010 3:31pm
Quoting redsword11
Attachment



thoughts anyone ?
yep, looks like a good setup
  • #9,259
  • Nov 15, 2010 3:33pm Nov 15, 2010 3:33pm
Quoting Custos
yep, looks like a good setup

30 min does appear to be a H&S


need to give this a go l think
  • #9,260
  • Nov 15, 2010 3:34pm Nov 15, 2010 3:34pm
Quoting redsword11
30 min does appear to be a H&S


need to give this a go l think
yeah, I just saw it, I would definitely give it a shot!
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