Best Thread Correlation Trading - Basic Ideas and Strategies

[NVP]

really nice morning scalping cable ...

nice cruisy moves from 3120s to 3070s so far .....wish every day was like this

N

 

[NVP]

Cable is really behaving nicely so far in 2020.....well for my approach anyway !

Today GBP index has been a pretty smooth bull since around 9am ....and ive played it ever since

I could have been greedy and got into it from 3090s but i felt it was a little to early just to go off a breach line on Cable ...

I like conformation from my relative strength indicators to see where GBP REALLY is ........and it was still not really bull enough at that point .......

i was aggressive from 3010's so no harm done ...........plenty of pips since then on buying and rebuying Cable all day

nice start to week
N

 

[NVP]

and.....heres a shot of G8 forex market so far in 2020......

I was happy to sell GBPUSD (Cable) last week (see my previous posts)...but today after a little persuading i was happy to finally start buying in the london morning forex session ....

sure i could have been playing yen bull last week asnd did ...but i like trading Cable if its playing ball.......its probably 80% of my trades these days .....probably too much but i will happily switch to others if its playing slooow.....

all so nice and predictable trading so far .....and pretty easy to make money

thats worrying !!

N

 

[gka]

Cable is really behaving nicely so far in 2020.....well for my approach anyway !

Today GBP index has been a pretty smooth bull since around 9am ....and ive played it ever since

I could have been greedy and got into it from 3090s but i felt it was a little to early just to go off a breach line on Cable ...

I like conformation from my relative strength indicators to see where GBP REALLY is ........and it was still not really bull enough at that point .......

i was aggressive from 3010's so no harm done ...........plenty of pips since then on buying and rebuying Cable all day

nice start to week
N

Hi N, thank you for your trading documentary.

Quick question...did you mean " aggressive from 3110's" or have you been trading and holding on to trades since 3010's ?

G

 

[NVP]

Hi N, thank you for your trading documentary.

Quick question...did you mean " aggressive from 3110's" or have you been trading and holding on to trades since 3010's ?

G

Hi Gka....

im a scalper so rarely hold on to trades for long......I will come back in again and again if needed on a decent move / trend

so unless the trade didnt retrace much i rarely can hold onto anything ....

i was aggressive on that move until the price started showing extended weakness and larger retraces .....so i was aggressive still into 3160s ....

N

 

[NVP]

hi all

cable wasnt actually the most solid pair to trade this morning but it is my favourite so I was mainly on it as usual

(hint - look at AUDUSD sells this morning)

heres where i was .........as in my last post i'm primarily a scalper .......unless the price moves solidly with minimal retracement i will not hold onto a trade ......I will just come back in and trade it again if i feel the trend is still happening

This morning i briefly tried to sell cable and broke even ..then stood back and got back into that solid move north

4-5 scalps there did the job.....

whilst the 5min looks like there were some decent sells after Cable peaked I havnt been in ....Im trying to play it even safer these days in 2020.......i would have scalped south last year .....but teying to be more conservative and preserve the money already made

interesting times ......always try to improve your trading (even when you are doing well) .....it really helps to keep you sharp and focussed

N

 

[Pat494]

Would you go short Cable from here 2.57 pm ?

 

[NVP]

hey all

another kind morning for me ......loving 2020 so far

N

 

[NVP]

Would you go short Cable from here 2.57 pm ?View attachment 272529

hi pat

sorry for delay ...............checked back and i was in resells from around 3125/6 so ahead of that curve....by 3110-05 i was well nervous of over selling as well......

5 min charts a little slow for me at times ...depends on speed of market ...but useful for me to show positions to people in posts

N

 

[NVP]

what a morning ! .....cant believe how nice GBP is being to us forex traders in 2020.......

jees ...a fairly uneventful 80+ pip sell drive this morning on cable ....been too easy

N

 

[NVP]

im done for the moment ..........cable at 3030's but i need more persuasion to come bear again ......

later
N

 

[NVP]

hey all ....decent day in markets so far

im just trying to resell cable at moment from around 3066-7...market is testing that area a lot ....

N

 

[NVP]

hey all ....decent day in markets so far

im just trying to resell cable at moment from around 3066-7...market is testing that area a lot ....

N

3057 the low ....cant get it moving as yet ....

 

[gka]

3057 the low ....cant get it moving as yet ....

Hi N

Cable has been supported today by its lowest VRM daily sentiment level 1.3056 and its daily S1 sentiment level 1.3060. Weekly levels were available before market started Sunday on thread. Wait until GBPUSD breaks down through 1.3056 on the 30 minutes

Predicting future FX support and resistance levels using mathematics

See attached chart

 

[NVP]

Hi N

Cable has been supported today by its lowest VRM daily sentiment level 1.3056 and its daily S1 sentiment level 1.3060. Weekly levels were available before market started Sunday on thread. Wait until GBPUSD breaks down through 1.3056 on the 30 minutes

Predicting future FX support and resistance levels using mathematics

See attached chart

View attachment 272735

hey GKA ....interesting approach .....

I am a scalper so can scrape 5 pips any much anywhere.....

most i will look at as scalper is perhaps daily high lows from prev day ....but generally i am a session trader (london open , US open) ...I am only interested in what happens in those actual session re direction / bias etc ....

just scalping mentality

N

 

[gka]

hey GKA ....interesting approach .....I am a scalper so can scrape 5 pips any much anywhere.....

Hi N...I am not a scalper. I load and lock and leave the premises. I try to make 30 - 60 basis points on one trade. Because I cannot look at the screen so much as you. Just thought you might be interested to know why GBPUSD had support at 1.3060 and 1.3056. They are sentiment levels at the different timescales. And even now the two timescales are holding on to the bitter end. However EURGBP just broke up through the middle of its short term trend channel at 0.8511 so GBPUSD is in pain.

 

[NVP]

morning all.....

i'm supposed to be working with a couple of programmers on a U.S. indices system but had to drop in a post here re the nice forex action this morning ....so my other stuff got delayed !

even a novice trader would have made money so far ......Cable has been a treat

N

 

[NVP]

Hi N...I am not a scalper. I load and lock and leave the premises. I try to make 30 - 60 basis points on one trade. Because I cannot look at the screen so much as you. Just thought you might be interested to know why GBPUSD had support at 1.3060 and 1.3056. They are sentiment levels at the different timescales. And even now the two timescales are holding on to the bitter end. However EURGBP just broke up through the middle of its short term trend channel at 0.8511 so GBPUSD is in pain.

hey there ....i totall understand ......i have spent periods when scalping was not convenient for me .....but there is nothing comes close in terms of making money because of the volume of trading you can achieve in short periods of time

good trading
N

 

[NVP]

earliest i could have got back in resells recently was around 2988 went to 73 ......waiting for next opp

 

[NVP]

questoin for all of you scalpers coming back in at 77 (now)....why ? .....hahahaha