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Nb 10.0 trend trading system

  • #921
  • Jan 5, 2012 4:50pm Jan 5, 2012 4:50pm
I have been playing off of the previous day's lowest low. The 600 back probably is a good idea, I just know it has broken the previous weekly line so I still expect it to go down. Indicators are not going to help here, this is all fundamentals at this point. I really wish the Euro would stabilize, this is not good at all.
  • #922
  • Jan 5, 2012 5:12pm Jan 5, 2012 5:12pm
I'm using manually drawn Support and Resistance lines taken from the weekly charts. I have done this with all my charts for clarity when there are no D1 lines. You do have the option as well to add more D1 lines. I was trading with 3 to give an extra level.

My next target for eurusd is the MAJOR support level (take a look at Monthly line chart) of 1.2500 zone. I have a limit order to buy at 12510 so I shouldn't need to look at that pair until it hits it. I can't see price reversing between these levels as there is no support that I can see other than minor weekly support around 12640. I try and enter on the daily and then switch to the weekly. Too often I get 'shaken out' of good trades by checking lower time frames. So, enter on the daily and have a limit order at the next weekly level!

Hope this helps?
Trade less and become more profitable!
  • #923
  • Jan 5, 2012 5:41pm Jan 5, 2012 5:41pm
Quoting Grimweasel
I'm using manually drawn Support and Resistance lines taken from the weekly charts. I have done this with all my charts for clarity when there are no D1 lines. You do have the option as well to add more D1 lines. I was trading with 3 to give an extra level.

My next target for eurusd is the MAJOR support level (take a look at Monthly line chart) of 1.2500 zone. I have a limit order to buy at 12510 so I shouldn't need to look at that pair until it hits it. I can't see price reversing between these levels as there is no support that I can see...
Thanks for the insight, my next update will be using a weekly chart but in a slightly different way. If you have Skype I would be interested in talking to someone who uses weekly charts and has some experience with them.
  • #924
  • Jan 6, 2012 12:26pm Jan 6, 2012 12:26pm
Hi Guys ,I have just downloade NB'S template and indi (thankyou) but no R1 and R2 on chart .......am I doing something wrong ?any one help
Tedge
Attached Image (click to enlarge)
Click to Enlarge Name: nan.gif Size: 34 KB
  • #925
  • Jan 6, 2012 12:30pm Jan 6, 2012 12:30pm
Quoting Tedge UK
Hi Guys ,I have just downloade NB'S template and indi (thankyou) but no R1 and R2 on chart .......am I doing something wrong ?any one help
Tedge

Try cliking into H4 or H1 TFs.
  • #926
  • Jan 6, 2012 12:34pm Jan 6, 2012 12:34pm
Quoting Kelisa
Try cliking into H4 or H1 TFs.
Thanks for reply K but still no lines
  • #927
  • Jan 6, 2012 12:40pm Jan 6, 2012 12:40pm
Try check your customs indicators weather u hv put in the "10.1 DAILY SR"

and check your template if u are using the 10.1 4H daily SR
  • #928
  • Jan 6, 2012 12:40pm Jan 6, 2012 12:40pm
Perhaps in the look back days their are no resistance lines, its similar to the support situation on the EURUSD

just my 2cents ?
  • #929
  • Jan 6, 2012 12:44pm Jan 6, 2012 12:44pm
Quoting heebbyjeeby
Hey all,

Just a quick question to see how you guys are handling anything euro related, as we have no daily support lines, eg on the EU, the EG, and the EY, particularly aiming this q at Bob, and Kelisa.
Eur has slide significantly so next week possible retracement before continuation of trend.
  • #930
  • Jan 6, 2012 12:45pm Jan 6, 2012 12:45pm
Quoting Kelisa
Try check your customs indicators weather u hv put in the "10.1 DAILY SR"

and check your template if u are using the 10.1 4H daily SR
Guys I have just tried it on eu chart and now its the other way round .....got the black but not the red lol
Attached Image (click to enlarge)
Click to Enlarge Name: nan.gif Size: 34 KB
  • #931
  • Jan 6, 2012 12:50pm Jan 6, 2012 12:50pm
whats showing on yout H4?
Attached Image (click to enlarge)
Click to Enlarge Name: eu...........gif Size: 26 KB
  • #932
  • Jan 6, 2012 12:56pm Jan 6, 2012 12:56pm
Quoting Kelisa
whats showing on yout H4?
sorry guys thought both should be on.....or should they ...still confused
Attached Image (click to enlarge)
Click to Enlarge Name: nan.gif Size: 30 KB
  • #933
  • Jan 6, 2012 12:58pm Jan 6, 2012 12:58pm
there u go............u can see the red dots only on H4 or smaller tf, not dailys. cheers
  • #934
  • Jan 6, 2012 12:59pm Jan 6, 2012 12:59pm
rem....the daily to give u trend direction and H4 or H1 to give you entry positions above/below the red lines.
  • #935
  • Jan 6, 2012 1:15pm Jan 6, 2012 1:15pm
Quoting Kelisa
rem....the daily to give u trend direction and H4 or H1 to give you entry positions above/below the red lines.
Thanks Kelisa
  • #936
  • Edited Jan 7, 2012 10:08am Jan 6, 2012 1:27pm | Edited Jan 7, 2012 10:08am
Can I ask anyone who is doing well with this great method, how many pairs are you keeping an eye on these days, is it the volatile list Bob used to have or all ??

Looking forward my self to giving this a good go.

Thanks




Ok I have answered the question by going through the thread
  • #937
  • Jan 8, 2012 4:40am Jan 8, 2012 4:40am
I would like to propose an upgrade to 10.1 The MTF indicator will draw lines on lower charts that are the same as the upper chart. I think the open candle of the weekly will help you in entering higher quality trades. First pic let us look at a weekly chart. The eur/usd weekly shows we are clearly in a downtrend. I put red lines showing the 10 week DT
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd dt.gif Size: 28 KB
  • #938
  • Jan 8, 2012 4:45am Jan 8, 2012 4:45am
When we drop to the daily chart and look at the same 10 weeks and add the open lines of the weekly to the chart. This is what you see. Now if you add the daily S/R lines you can see places you can enter but before I get to that you can see that after price goes above the open you can place a trade below the open line in a DT and above in an UT. Now on to a 4H chart
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd dt daily.gif Size: 25 KB
  • #939
  • Jan 8, 2012 4:58am Jan 8, 2012 4:58am
Now we use the Daily S/R placed on the 4H chart and then you can see with the weekly open where you should get in and and place trades. This adds another entrance point. Previous daily S/R lines and also the open line. Some weeks you would get one entrance, some weeks multiple.
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd dt 4 hour.gif Size: 35 KB
  • #940
  • Jan 8, 2012 5:06am Jan 8, 2012 5:06am
USD CHF has been in an uptrend here is the weekly and daily charts. As you can see it is in an uptrend. You can buy above the open line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd chf.gif Size: 22 KB
Click to Enlarge Name: usd chf daily.gif Size: 25 KB
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