Seeking consistency

Hello rsh01

Thank you for your post, do you no longer use the strategy like this one?

No, I haven't analysed which pairs trend the most and for the longest runs, that is an interesting suggestion. I have noticed that the USD crosses (with the exception of the USD JPY) often behave in the same way at the same time, whereas the subsidiary pairs behave in a more independent manner

I also haven't noted the frequency of similar trade set ups appearing on certain pairs.

Two very interesting questions, which I will look to answer over time moving forward

I believe it is a dead-end looking into which pairs "trend the best". This is purely a random function. Assuming eurusd trends "better" than another is simple curve fitting. Over time (3 - 10 years say) I bet all forex pairs "trend" and "consolidate" to the same degree. Look at any methodical strategy and this is soon proved correct as pnl's ebb and flow with trending/consolidating markets.

Altho there is something to be said for trading "where the action is......" maybe that is really the point rhs01 is trying to make?

My daily and 4hour trends are short and the daily chart appears to be consolidating into a smaller and smaller trading range

Yesterdays candle was 'hammer-esque' in its formation and may signal the start of a move up, to and possibly through the descending trend-line that is 'squeezing' this pair up

It is not one for me though, but interesting to watch for the next few sessions

The daily and 4hour charts are 'short'

Price has retraced 61.8/50% of the previous 4 hourly down swing leg and is showing some signs of rejection of higher prices

I have set a short order at .79 00 with a stop just above this weeks high at .79 20 and a target at the monthly swing low / monthly descending channel low at 0.77 00
A some what ambitious 'R' of 10

If this trade should open I will trail my stop as usual

I am aware that the previous daily candle indicates a rejection of lower prices and could be the initiation of a greater up move back toward the daily moving averages

Order has been trigger and price achieved R1 (+20pips) @ 0.78 80 so I have now moved my stop to break eve

I have just reviewed all of my charts and identified the following as 'ones to watch' next week

The identification is based simply on trend (daily and 4 hourly moving averages in alignment, at the present time)

dir pair level of interest
short EUR USD 1.22 60
short GBP USD
long USD CHF 0.98 00
long GOLD EURO 1,288.0
short EUR GBP
short EUR NZD
short EUR AUD
short EUR JPY 97.50
short GBP CAD 1.58 15
short GBP NZD 1.96 00 (already traded this week of a R1 win)
short GPB JPY 123.30
short CHF JPY 80.84 or 81.25,watch price action
long NZD CHF
long AUD CHF

I also noticed two potential counter trend set ups on the daily time frame
long EUR CAD price is at support from 2010
short CAD CHF price is at a weekly swing high

I have just viewed this prior to posting (Preview Post) and noticed that the spacing has been removed, making my 'table' look a mess. Does anyone know if you can add a tabular format to the t2w site?

Hello,

Can anyone shed light on what will happen to all those open positions, Long/Short, for EURCHF in case of EuroZone break up? I mean how will an adjustment take place?

Thanks

Hello swedendenmark

Thank you for your post

I assume you are referring to all of the pairs I have listed as 'ones to watch' for next week? If so, they are not open positions, only pairs that I am keeping a close eye on next week.

The only open position I have at the moment is a short EUR GBP, where my stop is at breakeven, so I will either be stopped out for NIL or continue to trail my stop behind price as it falls either to my target or until price reverses and hits my trailing stop

With reference to your specific question regarding EUR CHF and the potential break up of the euro zone, I am afraid I have absolutely no idea what the 'adjustment' you mention is, or when / if / how it might take place.

All I know is that should I have any positions open at the time, they will be closed off by hitting the levels that I have set either for stop loss or take profit purposes. Sorry I can't offer anything further, I don't really think you have posed your query on the correct thread?