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Nb 10.0 trend trading system

  • #2,641
  • May 29, 2012 7:03pm May 29, 2012 7:03pm
Quoting nanningbob
Well that was a dud day. My biggest profit was 33 pips on a eur/cad move only 75 pips for the day. Yes I got that 3 pip profit on the eur/usd LOL

Looks like the AUD and NZD runs maybe over. AUD/CHF has actually swung to a buy bias. I still am going to see if aud/usd and aud/jpy have one last sell in them. Daily charts are still greater than -4. Market is definitely consolidating after some nice runs and most charts are now showing mixed signals.

Some Euros and some GBP broke their previous swing lows but didnt go anywhere.

I will not...
NB, NFP is Friday so markets are over the place (USD sideways, EUR lower and AUD higher as an example). IMO after NFP, we should see a monthly trend develop.
  • #2,642
  • May 29, 2012 7:43pm May 29, 2012 7:43pm
Quoting nanningbob
Yeah, the final version is basically the same as the test version but has some neat bells and whistles.
Bob, I'm fervently hoping that the bells and whistles will include some for the TMA True!!!!
  • #2,643
  • May 29, 2012 9:02pm May 29, 2012 9:02pm
Quoting Verb
NB, NFP is Friday so markets are over the place (USD sideways, EUR lower and AUD higher as an example). IMO after NFP, we should see a monthly trend develop.
I agree, if I see a quick scalp opportunity I will take it, small stuff. Caught the aud/jpy crossing the pivot this morning for a quick 40 pips but that was all I took. I have some left over pending trades I set yesterday that one trigered.
  • #2,644
  • May 29, 2012 11:53pm May 29, 2012 11:53pm
Both the aud/cad, aud/usd, and aud/jpy broke the weekly pivot. I thought they had at least one more run in them so will TP the trades around the mid point. aud/chf bounced off or R1 so we will try that too with the EA.

nzd/usd and nzd chf are hovering just above the weekly pivot and nzd/chf is hitting R1. I will look to see if they break the pivot and the bounce off of R1 for nzd/chf.

gbp pairs are down by S1 except gbp/chf. Not sure what they will do but I suspect weakness. Will set up some sells and maybe buys and see what happens.
  • #2,645
  • May 30, 2012 12:06am May 30, 2012 12:06am
Quoting nanningbob
Both the aud/cad, aud/usd, and aud/jpy broke the weekly pivot. I thought they had at least one more run in them so will TP the trades around the mid point. aud/chf bounced off or R1 so we will try that too with the EA.

nzd/usd and nzd chf are hovering just above the weekly pivot and nzd/chf is hitting R1. I will look to see if they break the pivot and the bounce off of R1 for nzd/chf.

gbp pairs are down by S1 except gbp/chf. Not sure what they will do but I suspect weakness. Will set up some sells and maybe buys and see what happens.
Bob, do you think its wise to re-enter Sell near the WP for AUDCAD?
  • #2,646
  • May 30, 2012 1:34am May 30, 2012 1:34am
Quoting orionhan
Bob, do you think its wise to re-enter Sell near the WP for AUDCAD?
If there is a good trade today that would be one. Strongly and clearly broke the weekly. I am going with it. If it breaks up it would be a simple SL to take. I also see SRF failure so I expect it to go down to S1 but will TP 1/2 to 3/4 there. Dont worry the aud/cad is a very range bound pairs so it aint going far.
  • #2,647
  • May 30, 2012 3:34am May 30, 2012 3:34am
Quoting nanningbob
If there is a good trade today that would be one. Strongly and clearly broke the weekly. I am going with it. If it breaks up it would be a simple SL to take. I also see SRF failure so I expect it to go down to S1 but will TP 1/2 to 3/4 there. Dont worry the aud/cad is a very range bound pairs so it aint going far.
Bob - I took an AUDCAD SRF trade, tiggered as it crossed the weekly open price as that did appear to be offering some s/r. Do you think this is a reasonable entry approach? Or too risky and I should wait for pivot cross?

Thanks,
Dave.
  • #2,648
  • May 30, 2012 4:13am May 30, 2012 4:13am
Quoting spotdespot
Bob - I took an AUDCAD SRF trade, tiggered as it crossed the weekly open price as that did appear to be offering some s/r. Do you think this is a reasonable entry approach? Or too risky and I should wait for pivot cross?

Thanks,
Dave.
aud/cad looks good up about 10 pips now
  • #2,649
  • May 30, 2012 5:59am May 30, 2012 5:59am
Might be worth noting that on this latest washout, unlike eur/usd and gbp/usd, aud/usd - thus far anyway - has not made new lows.
Just a thought.
Writer, currency trader, madman
  • #2,650
  • May 30, 2012 6:08am May 30, 2012 6:08am
Quoting jbmaverick
Might be worth noting that on this latest washout, unlike eur/usd and gbp/usd, aud/usd - thus far anyway - has not made new lows.
Just a thought.
Yes they are in the range or change of trend stage so look for 1,2,3 swing trades, head and shoulders, and double bottoms. It will be fun knowing you will see these coming in advance as we see the daily slope retreat. Next week we will probably be pointing them out. When you see these patterns emerge you will then begin feeling the markets and feel like a real experienced trader.
  • #2,651
  • May 30, 2012 8:47am May 30, 2012 8:47am
Sold EURUSD. At 1.2413, price have cleared the WS1.

My concern is EURUSD is right at a previous swing low from 2008/10/26 as seen on the weekly chart. Hopefully that demand area have pass its expiry date.
Attached Image (click to enlarge)
Click to Enlarge Name: 7147685 Interbank FX Trader 4 - Demo Account - [EURUSD,H4]_2012-05-30_21-46-23.jpg Size: 162 KB
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  • #2,652
  • May 30, 2012 8:50am May 30, 2012 8:50am
Quoting Binyamin
Sold EURUSD. At 1.2413, price have cleared the WS1
Wow your weekly pivot values for the EU are much different than mine.

WS1 for me 1.2396. I am GMT +3. What time is your MT4 set to?
  • #2,653
  • May 30, 2012 8:51am May 30, 2012 8:51am
Mine is just about to touch WS1 now
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-05-30 11.50.29 pm.png Size: 61 KB
  • #2,654
  • May 30, 2012 8:54am May 30, 2012 8:54am
Quoting Jemook
Mine is just about to touch WS1 now
OMG, I just scrambled out for -1 pips.

I am using IBFX US which is GMT time... What could be wrong I wonder....
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  • #2,655
  • May 30, 2012 8:59am May 30, 2012 8:59am
Quoting Binyamin
OMG, I just scrambled out for -1 pips.

I am using IBFX US which is GMT time... What could be wrong I wonder....
The basic question is to look at your charts to see if the price looks like it respects the pivot points (i.e., they act as support and resistance). I can definitely say yes on the daily and weekly values.
  • #2,656
  • May 30, 2012 9:01am May 30, 2012 9:01am
Quoting Binyamin
OMG, I just scrambled out for -1 pips.

I am using IBFX US which is GMT time... What could be wrong I wonder....
There is nothing wrong. Weekly pivots will be different when based on different closing/opening times and therefore different values. They will rarely be that significantly different.

I have looked at both GMT and GMT+3 and the GMT+3 often seem a better fit to price action (pretty quick observation not detailed). I guess it may be because more brokers use GMT+3 - maybe the big boys do. Pivots, like a lot of S/R "tools" are often self-fulfilling.
  • #2,657
  • May 30, 2012 9:04am May 30, 2012 9:04am
Yes it is not difficult to do. Send the indi you use to [email protected] and I will adjust it for you. Let me know what colors you would like also.


thank you bob for your replay problem is solved.

is it possible to display the value of ma high and low on the chart for visual perpose chart is attached i am using lwma 2/3 high low

thanks again
Attached Image
  • #2,658
  • May 30, 2012 9:04am May 30, 2012 9:04am
Quoting cmeade2
The basic question is to look at your charts to see if the price looks like it respects the pivot points (i.e., they act as support and resistance). I can definitely say yes on the daily and weekly values.

I have confirmed with another website http://www.actionforex.com/markets/p...2010040848154/

That my weekly pivot values are all wrong. They are out by at least 12 pips... I am trying to find out why. Luckily you people warn me..
Quote
There is nothing wrong. Weekly pivots will be different when based on different closing/opening times and therefore different values. They will rarely be that significantly different.
15 pips difference for my EURUSD is pretty significant to me..... especially if I use pivots for breakout trades in H4...
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  • #2,659
  • May 30, 2012 9:11am May 30, 2012 9:11am
Quoting Binyamin
I have confirmed with another website http://www.actionforex.com/markets/p...2010040848154/

That my weekly pivot values are all wrong. They are out by at least 12 pips... I am trying to find out why. Luckily you people warn me..
15 pips difference for my EURUSD is pretty significant to me..... especially if I use pivots as a breakout trade...
That may be the case but you will have to accept that what I have said re. calculation of them is correct (EDIT: ActionForex has a link for showing how the pivots are calculated - http://www.actionforex.com/markets/p...2010040952149/). The only way you will get pivots to match the Action Forex posted ones is to use a GMT+3 broker.

Go back and look at one of Bob's last posted charts - P 175 post 2613 on USDCHF - it's a good one as Weekly S2 is effectively labelled - then check that value on your charts - it will be the same. Then check Action Forex - it won't match.

Edit: So it seems it's good enough for Bob.
  • #2,660
  • May 30, 2012 9:21am May 30, 2012 9:21am
Quoting spotdespot
That may be the case but you will have to accept that what I have said re. calculation of them is correct (EDIT: ActionForex has a link for showing how the pivots are calculated - http://www.actionforex.com/markets/p...2010040952149/). The only way you will get pivots to match the Action Forex posted ones is to use a GMT+3 broker.

Go back and look at one of Bob's last posted charts - P 175 post 2613 on USDCHF - it's a good one as Weekly S2 is effectively labelled - then check that value on your charts -...
Oh my gosh you are right. Thanks.
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