Trading is as simple as ABCD

Top 3 trending Daily charts looks like we should of been buying GBP and EUR since April...







So the question is how long will this pullback against the trend continue???

News dotted around a bit this morning but in particular we have the CHF SNB Monetary Policy Assessment which has caused problems in the past so maybe advisable to NOT be in the market for this one...

Most of these pairs have moved down 100 pips over night so can't expect much more downside can we??? Or can we???[/quote]


Probably the USA FOMC announcements last yesterday evening.....

Looks like GBP strength coming back so is the reversal on this morning??? Better stay clear until after the CHF have had they're say...

GBP looking nice and strong today...



Trading these strengths across the board as Mr V has constantly said makes a lot of sense...

Fumble f*rted along for 30 minutes before it came to life.
At least got my 12 pips
Where to from here..?

Still traveling. Not much trading this week. Be back to normal next week.

2 trades, both winners, 12.5 pips each

Waiting for the GBP announcements in 20 minutes from now. If positive, GBP will be even stronger and we should be able to get a couple of green ones

Nice one....

great to hear. Keep the winners coming!

Even if its bad news for the GBP it might still go up as the GBP buyers will see the negative spike as an opportunity to buy GBP cheaply so don't be fooled by the news release itself...

I'm trying to keep all thoughts of where I think price should go right out of my head and just trade the top trenders in the direction they are moving. Soon as I get a belief in my head about where price should be, I only see evidence for my belief and ignore what the price is telling me. If I just trade the top trenders in the direction they are going I'm fine, soon as I start thinking I know where its going I'm knackered...

If its going up buy it, if its going down sell it....Pure and simple nothing complicated about it...

But the funny thing is how do you stop those thoughts coming into your mind??? Very hard......and once they pop in there its the devils own job to ignore them...

Did you open the trade close to the end of FO hour?

Just after LO..

Pipglutton

Did I notice you don't have the 25 levels marked on your charts???

Might want to change that as the GBP pairs in particular love trading around those levels. In fact I'm very keen to take any trade from those 25 levels as regular as clockwork they break and retest them beautifully..

I find that pairs tend to trade from one 25 level to another , stepping up as they go...

Very useful levels to have marked out and nearly always a good target for TP's...

Hello... Clive packham i've been following your trend for a while now, and I'll like to backtest it.. can you please post the current indicators to use... thanks..

EUR looking weak after a quick 50 pip drop...



Just looking for 20 pips today as my daily target...

Gone very quiet in run up to news so will just wait for the GBP news to pass then we seem to have a clear road ahead until NYO's 13.30 news so a chance to collect some pips hopefully..

Bit of JPY weakness appearing which I much prefer to JPY strength, always feels like I'm trading with the BOJ when JPYs weak so I like to follow the big boys and they don't come much bigger than our friends at BOJ...





Not over trading today just looking for a couple of good setups and see if I can make 20 pips profit... Thats all I'm after 20 pips a day...

Yep looks like the 5min and 1 mins are starting to pull together and JPY weakening after BOJ press conference could bode well for a JPY driven move, so lets see what we can catch after the GBP news in 5 mins...



Time for my morning cuppa....

profit taking, greece, friday

Changing my chart layout to simplify it and as I only want 2 or 3 trades per session I'm just looking at the top trending 5 min chart (500 HMA) and when 500HMA is green and price is above take oversold 20 CCI signals as per normal, when 500HMA is red when price below sell all 20 CCI overbought signals.

Exit when 20 CCI gives opposite signal then trail stop out under signal candle. Basically banking buy trades as I would enter a sell trade and vice versa..

Just aiming for 2 or 3 trades per session and a total of 20 pips profit...Will explain more over the weekend..

I'm also using the CCI alert on the TTindy set to 20 CCI on TF2 (1 minute) so all I do is sit there until I hear an alert then check out the chart, if I like what I see I trade it if I don't I pass..

Very simply I'm trading the 5 min strongest trends entering on the 1 min 20 CCI oversold/bought signals, which means I'm trading every turn on the 1 minute back with the 5 min trend....

Should be a lot more relaxing and stress free as Godsclown's amazing TTindy does all the work for you...Finds a strong 5 minute trend then alerts you whenever price turns back with the 5 minute trend..

As before just make sure the trend is not coming to an end but in my mind that will be when the price crosses the 500HMA or there abouts...

You have a choice on exits as you can either

 

1. Bank each momentume turn as it goes from the reverse signal of the CCI or
2. Hold all entries and trail down each CCI signal eg LH's in downtrend , HL's in an uptrend until stopped out..

Your choice...

Heres a chart from top Trender GBPCAD from this mornings London Open...as you can see some lovely signals from the 20 CCI...

It should be a lot more relaxed way to trade with some bigger winners, smaller losers and less of them too. Will post more details at weekend....