Trading is as simple as ABCD

Clive - try using this set to 15 minute

[quote=clivepackham;7856754]{quote} Yes please do use some charts as a picture paints a thousand words... Having said that you explained that very well , I believe you're saying what appears to be a retracement can in fact turn out to be the first wave of a new trend in the opposite direction so draw the pullback trendline, draw the trend trendline and where the two cross is decision time. Whichever trendline gets broken then follow the other... Am i on the right lines????

Yep, you got it! That's a good way to look at it. Point C of the ABCD pattern is Decision Time for the market to either continue in the direction of the trend or begin to reverse. That's a very powerful concept indeed.

Just to give you guys and gals a heads up...

For the next few weeks, I'll be keeping a close watch over the CAD pairs because it looks like some big moves are on the horizon for the CAD pairs which have been somewhat quite lately.

I'll mostly be looking at:

AUD/CAD, GBP/CAD and CAD/JPY {in that order}. My main CAD focus pairs based on strength of movement and Daily Range = AUD/CAD + GBP/CAD.

On the other hand, I would be a bit more careful with the EUR/CAD, CAD/CHF, USD/CAD and NZD/CAD. But keep in mind if the AUD/CAD has some strong momentum in any direction then the NZD/CAD should also have good momentum since both the Aussie Dollar and Kiwi Dollar both get strong/weak at the same time.

There has been a lot of weak Chinese data coming out and remember if there is weak Chinese data then the AUD and NZD will be weak. So if the AUD and NZD remain weak look to sell AUD/CAD, GBP/CAD and buy CAD/Yen. If CAD gets really, really weak then you know what that means -- do the opposite and look to buy AUD/CAD, GBP/CAD and sell CAD/JPY.

Thanks Mike

Thats cool especially as I can turn it on and off, very cool

I've often wandered if I can see the 15 min boys money coming to the table on the 15 min cycle maybe the CCI signals on the 15min candle start have a better chance of working being supported by the 15 min money???

This certainly helps me to check out that theory..

Good Day Clive,

I was wondering if you can make a version of your "8 Top Trenders" (TTindy) that can be used on a white background because I like to have most of my charts in MetaTrader on a white background.

Thanks

Hi Clive, Please keep up the good work, very inspiring, im a big fan of yours and your system just amaze me with the simplicity and clear direction and entry points Thanks Again fot you time and effort.

Trying 2 at a time today see how it goes, I think they call it juggling???

Trying out a little EA my friend Ted knocked up for me to trail in the entry , go to BE and also to trail out the exits so got 5.1 pips there in total and didn't have to do a thing....

Hi Fibfork

You're welcome thanks for the kind comments I really appreciate it.

I'm probably a bit too early today but just wanted to try out my new EA but as the strategy here is to follow the money then I should really be waiting for the money to hit the market before I trade. This is just a little too early...

I've also been having some skype chats with Mr V. and he has pointed out that some of the best trades in the morning are to mark out the overnight ranges and when broken and retested its a good entry.

Also need to see one currency dominating the TTindy then look to trade a pair in that currency. Might lead to the mornings runner or London Breakout trade as its called...

Nothing really showing itself yet maybe a bit of GBP strength but all a bit too early yet need to see a bit more money come to the table...

Also the strengths of the trends aren't great, the figure to the right of the symbol should be nearer 20 or more to denote a strong trend...

Most of these are single figures still..

Mr V's break and retest of overnight level....

Hmmm took me out at BE didn't grab my little orphan did I????

Looks good to go long again as AUD weakness appearing and GBPAUD is as good as any if AUD is our man today but I can't get in yet as now more than 20 pips from 100lwma and my new rule says no trade...

Gotta wait for it to pullback nearer to lwma..

Got back in but gone to BE quickly to protect account and its no longer a TT so if it goes great but if it doesn't nothing lost...

Nope its not having it is it??? Not surprising really when you look at the chart, its not trending!!! Got myself engrossed in it so didn't notice it slipping out of top 8 trenders...

This quite often happens to me when I get focused on one pair for too long..

Give it up and go look at what is trending like EURNZD???

EURNZD falling off the page, these are the ones I just jump on all too quickly instead of waiting for my pullback, but not today. Not since I've bought in my 20 pips from lwma rule..

Gotta wait for a pullback to say the 1.6000 level then go from there. Of course theres evry chance it will disappear without me, but so be it...its not my setup so its no trade...

Phewww this disciplines stuffs hard....

This is more like it...

Hmmm not sure about this one my EAs just getting me in a bit too early but lets see how it goes, could be my first loser today...

Like I said in previous post the better entry was up near the 1.6000 level and of course right off of the 100lwma....

If I'd of followed my own advice I wouldn't be sitting through this drawdown but then I'm only using 5% across 20 pip stop so no real damage done if I lose of course it might workout ok as with a stronger trender and like I say trading with the trend makes bad entries good and good entries bloody good...

Didn't feel good sitting through all that drawdown and it started to react upwards so closed it out for 4.2 pips loss. Bad entry so took my loss to teach me a lesson...