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Trend Trading All Pairs

  • #10,181
  • Jan 17, 2011 4:36am Jan 17, 2011 4:36am
Quoting Custos
I don't see a need to argue. I told you my reasoning and you told me yours. We don't need to trade everything the same way.
I agree on this especially that i am not trading yet. Trend line is above 1.6000. price has not even crossed 1.59000 and first resistance is at 1.5950. i will be watching. other pairs are testing/ breaking daily retracemnts but daily ATR is spent.
  • #10,182
  • Jan 17, 2011 4:39am Jan 17, 2011 4:39am
I mean eur/nzd and eur/jpy
  • #10,183
  • Jan 17, 2011 5:34am Jan 17, 2011 5:34am
dailies taking over.
  • #10,184
  • Jan 17, 2011 5:37am Jan 17, 2011 5:37am
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd 4h.gif Size: 80 KB
  • #10,185
  • Jan 17, 2011 9:04am Jan 17, 2011 9:04am
One trader is buying and one trader is selling.

Which is the most intelligent?

Which one is correct?

Haha both think they are right.... but are they??

The answer could be both, depending on what each trader wants out of the trade.

hehe I find that interesting.

No one is right or wrong, but each one has their own "views" on the matter.

Stick to your convictions. Become an independent thinker.
  • #10,186
  • Jan 17, 2011 2:05pm Jan 17, 2011 2:05pm
Quoting Pipalicious
One trader is buying and one trader is selling.

Which is the most intelligent?

Which one is correct?

Haha both think they are right.... but are they??

The answer could be both, depending on what each trader wants out of the trade.

hehe I find that interesting.

No one is right or wrong, but each one has their own "views" on the matter.

Stick to your convictions. Become an independent thinker.

that's true.
Price hit right where take profit was. after all, risking 25 pips to get 50 is not a bad thing.
  • #10,187
  • Jan 17, 2011 2:06pm Jan 17, 2011 2:06pm
BTW, that was NM set up. According to this method, not only retracement trend line but also range if one appears after trend line break can be traded with same bpc method. it was exactly similar trade I took on Friday only Eur/Usd
  • #10,188
  • Jan 18, 2011 3:25pm Jan 18, 2011 3:25pm
Interesting situation. Down Trends per NM on daily and up trends on same pairs on 4H. Gbp/Usd looks good to go long until that weekly down trend line is seen.
Same Gbp/Jpy. I am waiting for daily trends to resume so far.
  • #10,189
  • Jan 18, 2011 3:44pm Jan 18, 2011 3:44pm
Quoting shiko
Interesting situation. Down Trends per NM on daily and up trends on same pairs on 4H. Gbp/Usd looks good to go long until that weekly down trend line is seen.
Same Gbp/Jpy. I am waiting for daily trends to resume so far.
Will you still take a long on the g/u, there is still about 200 pips until the weekly tl?
Andy
  • #10,190
  • Jan 18, 2011 3:51pm Jan 18, 2011 3:51pm
Quoting Andy_G
Will you still take a long on the g/u, there is still about 200 pips until the weekly tl?
Andy

I am not sure. weekly trend line is close. I missed entry tonight, pbc happened before 3:00 a.m.. here when I came to PC plus news. so, I did not trade. trend looks good but I will be waiting for trend line test most probably.
I am watching Aud/Nzd, it is trending. very slow pair. also, Eur/Aud. Eur/Jpy. I am waiting for reversal on daily if it happenes, if not may be it will be some good uptrend on 4H.
  • #10,191
  • Jan 20, 2011 6:21am Jan 20, 2011 6:21am
a possible long entry on gbpjpy, anybody with me on this one?
buy stop 131.61, stop loss 131.19
Attached Image (click to enlarge)
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  • #10,192
  • Jan 20, 2011 7:17am Jan 20, 2011 7:17am
Quoting Sesshaumaru
a possible long entry on gbpjpy, anybody with me on this one?
buy stop 131.61, stop loss 131.19
I would rather go for a short based on the daily. But if I look into the weekly we are anyways in a really big consolidation. There won't be any high probability trades in this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy d1 20.1.2011.gif Size: 29 KB
  • #10,193
  • Jan 20, 2011 3:44pm Jan 20, 2011 3:44pm
I have found EUR/USD VIDEO example: "How to make ABC TREND ANALYSIS"
It is long term analysis but it is explained that same approach works on short time periods. It is STEP by STEP procedure.
It is very interesting and I can see on the market that this is happening right now!
  • #10,194
  • Jan 21, 2011 2:21am Jan 21, 2011 2:21am
Quoting Custos
I would rather go for a short based on the daily. But if I look into the weekly we are anyways in a really big consolidation. There won't be any high probability trades in this pair.

I agree on this. The confluence of various trend lines in this area is such that it is hard to see any higher probability trade on G/J. I wonder, when this pair going to break out of this trap. It has not been like itself for a long time.
  • #10,195
  • Jan 21, 2011 2:23am Jan 21, 2011 2:23am
Eur/Usd is also making some noises, but news are coming in 38 minutes and daily ATR is almost used up. No bpc on 1H yet, but I would enter if proper bpc happenes, this level is very important, if it breaks we can go high.
  • #10,196
  • Jan 21, 2011 8:28am Jan 21, 2011 8:28am
Quoting shiko
I agree on this. The confluence of various trend lines in this area is such that it is hard to see any higher probability trade on G/J. I wonder, when this pair going to break out of this trap. It has not been like itself for a long time.
well, it's anyways not a very favorable currency. If you calculate the ATR/spread ratio, it ranges somewhere in the middle, compared to others.
  • #10,197
  • Jan 23, 2011 1:09pm Jan 23, 2011 1:09pm
Quoting Custos
well, it's anyways not a very favorable currency. If you calculate the ATR/spread ratio, it ranges somewhere in the middle, compared to others.

With Oanda Gbp/Jpy spread is just 2-3 pips. Currently daily ATR is around 100 pips. Not that much as I remember daily range for the pair used to be around 200 pips.
  • #10,198
  • Jan 27, 2011 5:38am Jan 27, 2011 5:38am
The room is so silent....Here is a setup am watching out for on the completion of hourly candle

Cheers
Attached Image (click to enlarge)
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  • #10,199
  • Jan 27, 2011 10:10am Jan 27, 2011 10:10am
A Trade setup i enter not quite long....
A pin bar around the resistance demand zone and 76.8 fib confluences.

Let see how it goes.........

Cheers

Attached Image (click to enlarge)
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  • #10,200
  • Jan 27, 2011 6:31pm Jan 27, 2011 6:31pm
Here is an interesting educational link i found ...

On the Long Way to Be a Successful Trader - The Two Very First Steps
http://articles.mql4.com/813
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