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Swing trading with heiken ashi and stochs

  • #1,561
  • Jun 6, 2012 4:17pm Jun 6, 2012 4:17pm
Quoting Hugh Briss
The 100 sma is not always the best to trail behind but in the beginning of a trend it won't trail too aggressively. As the trend develops you can start using shorter and shorter ma's until you are stopped out on the first big retrace but the 100 sma is a good place to start. You will find that even the 100 sma can get you out of a trend at a good point on most occasions but yet on others it will give back far too much.

I have been looking at the 34 ema of the high and low prices, a wave. Lots of threads and books mention it and it does seem to...
Many thanks for the information.
I have added a 34EMA to my charts so will see how that works out for exits.

On another note it looks like Eur/Aud maybe setting up for another sell soon on H1.
Looking at the chart it can move around this time, late here in the UK but Australia trading starting soon.
  • #1,562
  • Jun 6, 2012 5:06pm Jun 6, 2012 5:06pm
Hi Hugh Briss, you said:
Quoting Hugh Briss
... I will assess the situation tomorrow and pick one pair to start trading, probably eurusd but maybe usdcad or audusd. ...
In my opinion EURUSD, USDCAD and AUDUSD are correlated. According to this array (see "Daily correlation" in the middle of this page) and according to chart analysis, these pairs are highly correlated.

There are same open signals on these three ones, so why look at all of these pairs. Personally, I only look at EURUSD (which is the most volatile pair), I try to be present to open trade on EURUSD at the best time (i.e when D1-H1 Stochs have the same direction).

Thank you Hugh Briss,
thanks to you, I have spent a great afternoon too.
  • #1,563
  • Edited 6:52pm Jun 6, 2012 6:28pm | Edited 6:52pm
Quoting Ozefex
Agreed, good trading.

I've been having the problem of work interrupting my trading & analysis lately so have given back last weeks profits... Got to get back to the basics again.

Some good things happening here HB.
Thank you - but really its only good trading once an exit is made - (I can still drop the ball, dont JINX me)
I am looking at the daily it would seem to say we still have some room to fall - right now on the H1 we have a cute lill Green stick and a Stoch cross up from the over sold position (below the 20% line in the Stoch)- Our SMA says we are still trending down and we are against some nice support..... Have to decide rather to cut and run here (I also have some PIPs to make up because of some bad action on Monday) or take a new position and reset the SLs .....
  • #1,564
  • Jun 6, 2012 9:58pm Jun 6, 2012 9:58pm
Quoting normtold
Many thanks for the information.
I have added a 34EMA to my charts so will see how that works out for exits.

On another note it looks like Eur/Aud maybe setting up for another sell soon on H1.
Looking at the chart it can move around this time, late here in the UK but Australia trading starting soon.
Use a 34 ema of the high price rather than the close. Then add on of the low price so you have a channel of 2 ema's. It seems to work quite well to use the opposite side of the channel.

Euraud is a bit choppy for me on the daily but could work. Put fibonacci on the daily moves of aud and eur. Aud is almost at the 50% level already whereas eur is not even at 38.2 yet. This is just guesswork but could aud start to weaken before eur?
  • #1,565
  • Jun 6, 2012 10:01pm Jun 6, 2012 10:01pm
Quoting vinze87
Hi Hugh Briss, you said:

In my opinion EURUSD, USDCAD and AUDUSD are correlated. According to this array (see "Daily correlation" in the middle of this page) and according to chart analysis, these pairs are highly correlated.

There are same open signals on these three ones, so why look at all of these pairs. Personally, I only look at EURUSD (which is the most volatile pair), I try to be present to open trade on EURUSD at the best time (i.e when D1-H1 Stochs have the...
They are correlated but hardly ever 100%. They do give different signals at different times so it makes sense to watch all pairs that are moving in a similar direction and trade the one that gives the clearest signal and/or has the most potential to move and/or has the lowest spread. I don't believe eurusd is the most volatile pair if you look at it's average true range over any period. It is simply the pair with the most liquidity (the most traded pair by volume).
  • #1,566
  • Jun 6, 2012 10:13pm Jun 6, 2012 10:13pm
Quoting drzeepfx
Thank you - but really its only good trading once an exit is made - (I can still drop the ball, dont JINX me)
I am looking at the daily it would seem to say we still have some room to fall - right now on the H1 we have a cute lill Green stick and a Stoch cross up from the over sold position (below the 20% line in the Stoch)- Our SMA says we are still trending down and we are against some nice support..... Have to decide rather to cut and run here (I also have some PIPs to make up because of some bad action on Monday) or take a new position and reset...
Don't close out because you feel you have enough, let an ma break tell you the trend is over. You can start to trail behind a lower moving average like a 50 sma or a 34 ema wave as discussed above. Your loss on Monday has nothing to do with the profit potential of your next trade. Squeeze it for all it is worth.
  • #1,567
  • Jun 6, 2012 10:26pm Jun 6, 2012 10:26pm
Just bought this usdjpy daily trendline break. I've got a 50 pip stop which seems a reasonable deal. This may or may not work out. I'll trail the stop behind the 100 sma on the hourly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 7th jun 2012.gif Size: 23 KB
  • #1,568
  • Jun 7, 2012 1:22am Jun 7, 2012 1:22am
Looking at usdcad I'd say a test of the 200 sma during the day today would make sense. Then a nice drop from there. I could be completely wrong of course but putting stops behind that 200 sma seems like a good idea.
  • #1,569
  • Jun 7, 2012 2:07am Jun 7, 2012 2:07am
Thoughts on GU guys?

Looks like good setup coming. The thing thats puts me off these, although the daily HA may be green but we are in a very strong downtrend. Daily is in a need of a decent pullback but....

D
Attached Image (click to enlarge)
Click to Enlarge Name: gu0706.jpg Size: 91 KB
  • #1,570
  • Jun 7, 2012 2:15am Jun 7, 2012 2:15am
Quoting rossobonks
Thoughts on GU guys?

Looks like good setup coming. The thing thats puts me off these, although the daily HA may be green but we are in a very strong downtrend. Daily is in a need of a decent pullback but....

D
Hi,
'Was looking at this as you posted; the daily candle (not HA) is red with virtually no wick, also the H4 is showing a nice clean turn down. I'm looking at this for a short at a convenient entry point, for me the strong downtrend would need a lot more reversal before I thought about long.
Don't ask me, I have no idea what's going on.
  • #1,571
  • Jun 7, 2012 2:24am Jun 7, 2012 2:24am
Quoting Gizzledonk
Hi,
'Was looking at this as you posted; the daily candle (not HA) is red with virtually no wick, also the H4 is showing a nice clean turn down. I'm looking at this for a short at a convenient entry point, for me the strong downtrend would need a lot more reversal before I thought about long.
I initially thought "short" when I looked at H4 & lower time frames. Think I'd wait for at least the next H1 before deciding.
Still learning - No guarantees...
  • #1,572
  • Jun 7, 2012 2:30am Jun 7, 2012 2:30am
Quoting rossobonks
Thoughts on GU guys?

Looks like good setup coming. The thing thats puts me off these, although the daily HA may be green but we are in a very strong downtrend. Daily is in a need of a decent pullback but....

D
Also go steady with gbpusd today as an announcement on more QE will probably move the market either way. Saying that I like the way it found resistance at the 200 ema yesterday, just below the 1.55 round number too. A break higher should be a good move.
  • #1,573
  • Jun 7, 2012 3:29am Jun 7, 2012 3:29am
Quoting Hugh Briss
Looking at usdcad I'd say a test of the 200 sma during the day today would make sense. Then a nice drop from there. I could be completely wrong of course but putting stops behind that 200 sma seems like a good idea.
I have not used moving averages a great deal before so it is interesting to see how you use them.

I have the 100SMA on my charts for general direction, 34EMA for possible exit signals, 8EMA for another possible exit signal if D1 closes below it.

Coincidently the 200SMA you mentioned is exactly to the pip on my entry on Usd/Cad.
  • #1,574
  • Jun 7, 2012 4:15am Jun 7, 2012 4:15am
Quoting normtold
I have not used moving averages a great deal before so it is interesting to see how you use them.

I have the 100SMA on my charts for general direction, 34EMA for possible exit signals, 8EMA for another possible exit signal if D1 closes below it.

Coincidently the 200SMA you mentioned is exactly to the pip on my entry on Usd/Cad.
Same for me.... . 1.03 round number should provide good resistance as well. I'm considering taking an add-on upon the breakout of the current consolidation range..
  • #1,575
  • Jun 7, 2012 5:07am Jun 7, 2012 5:07am
Quoting normtold
I have not used moving averages a great deal before so it is interesting to see how you use them.

I have the 100SMA on my charts for general direction, 34EMA for possible exit signals, 8EMA for another possible exit signal if D1 closes below it.

Coincidently the 200SMA you mentioned is exactly to the pip on my entry on Usd/Cad.
Coincidentally?
  • #1,576
  • Jun 7, 2012 5:13am Jun 7, 2012 5:13am
Hugh, I followed you in on the USDJPY trade today after checking the daily & hourly charts. I was a bit concerned with the apparent resistance showing on the 4 hourly and a pullback from that, but now it is looking good.

However I am trying to rationalise the USD movements against other pairs as it seems to be strong against the Yen but weak against most others. Perhaps USDJPY is responding to Japan's CB talk and/or action to keep the Yen from rising. Perhaps also the current USD weakness against other currencies will soon end.

The attached charts show some interesting comparisons.
Attached Image (click to enlarge)
Click to Enlarge Name: USD Comparison.PNG Size: 93 KB
Still learning - No guarantees...
  • #1,577
  • Jun 7, 2012 5:33am Jun 7, 2012 5:33am
Quoting Ozefex
Hugh, I followed you in on the USDJPY trade today after checking the daily & hourly charts. I was a bit concerned with the apparent resistance showing on the 4 hourly and a pullback from that, but now it is looking good.

However I am trying to rationalise the USD movements against other pairs as it seems to be strong against the Yen but weak against most others. Perhaps USDJPY is responding to Japan's CB talk and/or action to keep the Yen from rising. Perhaps also the current USD weakness against other currencies will soon end.

The attached...
I think now that daily trendline has been broken we could see another nice long trend up. I could be completely wrong though, it has been known to happen ;-)
  • #1,578
  • Jun 7, 2012 6:19am Jun 7, 2012 6:19am
Sell USDCAD at 1.0260. First addon taken upon the breakout of the consolidation range.
  • #1,579
  • Jun 7, 2012 6:20am Jun 7, 2012 6:20am
Quoting rossobonks
Thoughts on GU guys?

Looks like good setup coming. The thing thats puts me off these, although the daily HA may be green but we are in a very strong downtrend. Daily is in a need of a decent pullback but....

D
Just shows that the moves are on the charts and the news is there to move the markets. They just use the news to scare us into not taking the setups! I had a feeling the BOE would make no mention of QE this month with the Olympics coming up!

On to the next one....

D
  • #1,580
  • Jun 7, 2012 6:59am Jun 7, 2012 6:59am
Quoting Phiksalamuk
Sell USDCAD at 1.0260. First addon taken upon the breakout of the consolidation range.
Second position now at BE. Love this system..... I'm struggling however with the exit strategy. My feeling tell me to close all positions at 1.0207 where we could see a bounce on the daily.... What do you think Hugh and fellow traders ?
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