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Trend Trading All Pairs

  • #10,921
  • Jun 7, 2012 6:48pm Jun 7, 2012 6:48pm
THIS VIDEO IS SHOCKING !!!

This is a perfect example of inept Greek policy makers. If they behave this way amongst each other, how are they going to behave at the EU negotiating table, when they have to figure out a rescue plan?
Unbelievable !!

Oh well gang, check it out for yourselves. (about 60 sec.)

Inserted Video


BTW Thanks for the trendscans and setup charts Skynet. Sweet.
I actually just ended up going long the g/j and g/u last night. The others didn't pan out. Their still retracing.

Trade Life !!
  • #10,922
  • Jun 8, 2012 1:35am Jun 8, 2012 1:35am
Quoting shomari
I actually just ended up going long the g/j and g/u last night.
what justifies a long in these pairs? Or was it impulsive trading without following a plan?
  • #10,923
  • Jun 8, 2012 3:58am Jun 8, 2012 3:58am
Quoting Custos
what justifies a long in these pairs? Or was it impulsive trading without following a plan?
A simple look at the overall markets, really.

As I stated about a week ago, I was expecting prices to retrace up to the D1. I was a week early, they retraced, this week. ow, I don't trade retraces, but a few a ggressive guys I know have been riding them back up this week.
Yesterdays trades were really just a simple COMBINATION of fundamental and technical analysis.
On the fundamental side, US bonds yields have risen significantly this week, signaling a slight change in investor sentiment. This was due to the G7 meetings (politicians promising to fix things) etc... earlier in the week. So obviously, bias is for USD, JPY to fall a bit.
On the technical side, well, I opened my charts and there it was, a trend in the M30. Nothing else was going on last night, so I took them. Just a nibble. couple 100 pips, nothing flashy.

Today I'm short e/u, e/j g/u and waiting to see if I get triggered on a few more.
All the pairs I've been in lately have now completed their retraces to the D1 ( as I suspected), and are now beginning to continue on their way down. This is an incredibly fast market, as D1 trends usually take a few days for price to consolidate before tipping it's hand on direction.
Though they look EXTREMELY tempting, I will not enter any of them short this week, (except for what I'm in now), I'm going to wait and let next week show me the solid direction. Either continue short, or full trend reversal.

ALWAYS FOLLOW BOND PRICES (In real-time), CDS (credit default swaps), AND READ YOUR "COT CHARTS/REPORTS" EVERYONE. These correlating markets can be used as indicators of GLOBAL MONEY FLOWS. Google : " Bond prices and effects on currencies."

Trade Life !!
  • #10,924
  • Jun 8, 2012 5:20am Jun 8, 2012 5:20am
Anyone in e/n on the H4 setup ?

Trade Life !!
  • #10,925
  • Jun 9, 2012 3:02am Jun 9, 2012 3:02am
COT data, click below..

http://www.efxnews.com/story/12990/s...ger-and-bigger

Trade Life !!
  • #10,926
  • Jun 10, 2012 6:23pm Jun 10, 2012 6:23pm
Hi Custos,
If you do not mind me asking which broker do you use? And what other brokers are honest in your opinion?
Thanks.
  • #10,927
  • Jun 11, 2012 7:09am Jun 11, 2012 7:09am
For those of you trading longer tieframes(4hr+), do you use heiken-ashi charts ? like them more than candlesticks, although i also look at candlesticks for patterns
Twitter: @forexpokerpro
  • #10,928
  • Jun 11, 2012 10:25am Jun 11, 2012 10:25am
Quoting BBPI_fxtrader
For those of you trading longer tieframes(4hr+), do you use heiken-ashi charts ? like them more than candlesticks, although i also look at candlesticks for patterns
Doesn't matter, you can even use a line chart.
  • #10,929
  • Jun 11, 2012 1:11pm Jun 11, 2012 1:11pm
My setup and trigger charts for the audusd (demotrades), comments are very welcome.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd setup d.gif Size: 25 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audusd trigger h4.gif Size: 29 KB
  • #10,930
  • Edited 1:39pm Jun 11, 2012 1:13pm | Edited 1:39pm
Just when you thought things were getting better......
A new deal in Spain this weekend caused HUGE price gaps at the open of Sydney today. A quick retrace and we're back in RISK OFF mode.

Spain accepted a bailout so the markets should be happy right ? WRONG !!!! Not happy, NOT HAPPY AT ALL !!! WHY? read this
http://www.nytimes.com/2012/06/12/bu...l?pagewanted=2

Europe is messed up royally. All eyes are now on Italy (3rd largest economy in Europ)
Bond yields for Spain UP TODAY
Bond yields for Italy UP TODAY

TO ENHANCE YOUR TRADING ,READ THE FOLOWING:

http://www.dailyfx.com/forex/educati...1_history.html

AND

http://www.dailyfx.com/forex/educati...es_part_2.html


Credit defaut swaps UP UP UP

WOW.
OK, OK This EUro crisis is not over, by a long shot. Get ready to take USD and JPY LONG again. I think we're gonna hit some serious record lows on the EUR. (CHECK OUT WEEKLY E/U CHART !!! DAMB !!!) We're talking 1.20 before we begin to see any relief, based on the FIB expansions.
Honestly though, if Italy gts into bailout size trouble, I think it's over for the EUR. Back to trading drachma, liras, and deutch marks. (Mor trading opportunities for us, but bad for the people)

Anyways..............
  • #10,931
  • Jun 11, 2012 1:21pm Jun 11, 2012 1:21pm
and the euraud charts.

Weekly setup

Attached Image (click to enlarge)
Click to Enlarge Name: euraud weekly setup.gif Size: 27 KB


Daily trigger

Attached Image (click to enlarge)
Click to Enlarge Name: euraud daily trigger.gif Size: 26 KB
  • #10,932
  • Jun 11, 2012 1:21pm Jun 11, 2012 1:21pm
Quoting shomari
Just when you thought things were getting better......
A new deal in Spain this weekend caused HUGE price gaps at the open of Sydney today. A quick retrace and we're back in RISK OFF mode.

Spain accepted a bailout so the markets should be happy right ? WRONG !!!! Not happy, NOT HAPPY AT ALL !!! WHY? read this
http://www.nytimes.com/2012/06/12/bu...l?pagewanted=2

Europe is messed up royally. All eyes are now on Italy (3rd largest economy in Europ)
Bond yields...
Generally agreed. However, why you say: get ready to take usd and jpy down again? I thought they appreciate against the euro?

Secondly, even if italy gets into trouble and all of the bad economies are quitting the euro zone, it will never be over for the euro.
You don't have to forget why the EU, euro and so on were created in the first place and the governments still know that: so that there won't be a war again in europe. The first two nations that created a pact were france and germany, and at that time it really was a pact to not have a war anymore. And even if the bad economies leave the euro, the euro and the EU will remain just for the sake of peace among the big economies.

Just my opinion.
  • #10,933
  • Jun 11, 2012 1:30pm Jun 11, 2012 1:30pm
Quoting shomari
Just when you thought things were getting better......
A new deal in Spain this weekend caused HUGE price gaps at the open of Sydney today. A quick retrace and we're back in RISK OFF mode.

Spain accepted a bailout so the markets should be happy right ? WRONG !!!! Not happy, NOT HAPPY AT ALL !!! WHY? read this
http://www.nytimes.com/2012/06/12/bu...l?pagewanted=2

Europe is messed up royally. All eyes are now on Italy (3rd largest economy in Europ)
Bond...
Well, having my live account in euros is in that situation not a good idea......
  • #10,934
  • Jun 11, 2012 1:35pm Jun 11, 2012 1:35pm
Quoting Custos
Generally agreed. However, why you say: get ready to take usd and jpy down again? I thought they appreciate against the euro?

Secondly, even if italy gets into trouble and all of the bad economies are quitting the euro zone, it will never be over for the euro.
You don't have to forget why the EU, euro and so on were created in the first place and the governments still know that: so that there won't be a war again in europe. The first two nations that created a pact were france and germany, and at that time it really was a pact to not have a...
Well, I live in The Netherlands, but also think the euro will not end, it is simply not an option to go back, it is way more expensive.
Custos, you live in Germany? Hope you have a good Wednesday evening, luckily for me I don't like soccer
  • #10,935
  • Jun 11, 2012 1:38pm Jun 11, 2012 1:38pm
Quoting mkb1272
Well, I live in The Netherlands, but also think the euro will not end, it is simply not an option to go back, it is way more expensive.
Custos, you live in Germany? Hope you have a good Wednesday evening, luckily for me I don't like soccer
Good that I also couldn't care less about soccer, or any sports on tv
  • #10,936
  • Jun 11, 2012 1:38pm Jun 11, 2012 1:38pm
Quoting Custos
Generally agreed. However, why you say: get ready to take usd and jpy down again? I thought they appreciate against the euro?

Secondly, even if italy gets into trouble and all of the bad economies are quitting the euro zone, it will never be over for the euro.
You don't have to forget why the EU, euro and so on were created in the first place and the governments still know that: so that there won't be a war again in europe. The first two nations that created a pact were france and germany, and at that time it really was a pact to not have a war...
Could be.

About the USD JPY, yeah you're right. What Imeant is take the pairs short, e/j, e/u etc.... but let mecorrect that.
  • #10,937
  • Jun 11, 2012 1:45pm Jun 11, 2012 1:45pm
Quoting mkb1272
and the euraud charts.

Weekly setup

Attachment

Daily trigger

Attachment
Hey MKB1272, if Imay, If you'r gona take EUr short, why not takeit down with a more RISK OFF currency, since that's the situation we are in now.

With the bad news fromEurope this weekend that didn't pan out , except to load more debt on the Spanish government, we are definately in "flight to safety" mode (google that).
I woud suggest going short the EUR with the USD or JPY, since they are both consider "safety" currencies. I think you'll have a much better chance tomorrow, with an entry short on the e/j or e/u.
  • #10,938
  • Jun 11, 2012 1:53pm Jun 11, 2012 1:53pm
Quoting Custos
Good that I also couldn't care less about soccer, or any sports on tv
you dont like football? what is wrong with you?
" It may mean something. It may mean nothing at all "
  • #10,939
  • Jun 11, 2012 1:58pm Jun 11, 2012 1:58pm
Quoting mkb1272
Well, having my live account in euros is in that situation not a good idea......
I'm in the US. They only let us hold our accouts in USD. BUT, if you guys in Europe can switch back and forth with currencies, you might have an option.
If I coud switch my accout between currencies, right now I would switch it to USD, or JPY, until Europe figures things out. Why ? because not only would my trades be making money, but the account itself would grow in PPP (purchasing power parity), like your WHOLE account was one big trade. (As the strength of the JPY or USD grew).
THEN, when Merkel and the boys figure something out, switch it back to Euros, cause the market will be anxsious to get back to a RISK ON mode again. And... again, your account itself wil gain PPP value. (As this time, the Euro strengthens)
If that makes any sense. I'm not sure if I explained it right.

Of course, this only matters if you can switch currencies.
I actually thought of doing this with a PAYPAL account a few years ago, because you can switch your paypal currency holdings anytime you like (or at east back then you could). You made more money trading it, so I didn't do it. But to combine that theory with a trading account could be quite lucrative.
  • #10,940
  • Jun 11, 2012 2:01pm Jun 11, 2012 2:01pm
Quoting shomari
Hey MKB1272, if Imay, If you'r gona take EUr short, why not takeit down with a more RISK OFF currency, since that's the situation we are in now.

With the bad news fromEurope this weekend that didn't pan out , except to load more debt on the Spanish government, we are definately in "flight to safety" mode (google that).
I woud suggest going short the EUR with the USD or JPY, since they are both consider "safety" currencies. I think you'll have a much better chance tomorrow, with an entry short on the e/j or e/u.
Thank's Shomari, I like to get comments on the setups, It's a quick way to learn from mistakes or my lack of knowledge..... When I look at the eurjpy daily there is a retrace to the sma's, maybe a good opportunity, but have to look at S&R's at the higher TF.
What is your opinion about the 'memory' of S&R lines, there are different approaches, when I look at the eurjpy weekly, there is a S&R line that is also respected in may/sept 2000...
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