Technical Templates

[Joe Whitehorse]

I don't think there's such a thing as a conservative entry or approach. The fact we're all playing from the same directional bias, yet triggering different entries off the smaller timeframe charts, speaks volumes for the quality of the basic template.

I've currently got a long only view on most of the euro cross pairs, including: eur/usd..eur/jpy..eur/aud + gold, nzd/jpy, gbp/jpy & usd/jpy
I've got a short only view on: usd/chf & usd/cad.
Once the directional bias is clear all I got to do is focus on playing pullbacks via those pairs producing the cleanest set ups on the shorter timeframe charts.

I think most folks here have very quickly latched onto the key driver of trading this momentum type model & that is to engage only with the higher probability directional bias as observed by your primary timeframe of preference.

Team that up with simple, effective risk & trade management techniques & you have yourself a very powerful & effective method of interacting with the market.
The comments below from a selection of the more recent contributors to the thread perfectly demonstrates the speed & ease to which most of you guys have picked up the key elements of the approach & run with it.

Keep it as focused & efficient as that & you won't experience too many problems going forward!

If the price action looks like it's engaging with a clear directional bias based on my 4 & 1 hour primary timeframe, I'll attempt to hold onto the position for as long as is sensibly possible without giving too much profit back to the market.

The primary bias/trend, set ups & triggers are clear, very easy to identify & simple to execute.
I'm more confident & assured with my trading than I've ever been & can now easily identify & prepare my primary bias from the 4 & 1 hour charts more or less immediately when opening up my chart profiles.

I'm really enjoying this approach as it doesn't require a lot of multiple confirmation or indicators. Simply find the trend on the larger timeframe chart & trade in that direction from the smaller timeframe chart.
It dovetails nicely with my longer term strategy.

...the core price action basics presented are based on logical, consistently proven & actionable events. There are no grey areas or subjective observations that can trip you up. Either price is conforming to the criteria or it isn't.
I only look to take bets with the current bias/trend & use the stochastic on my 5 & 60 minute charts to help confirm probable higher odds/lower risk entries in line with that bias - that's it.

Looking for a 1-2-3 long entry on EURUSD 5 Min chart.
Primary bias is long.
ADR is good.
1H chart has stoch < 20.

[kyle morgan]

Amongst the basket of pairs I'm watching for decent probability bets at the moment are nzd/jpy & usd/cad.
The former is approaching a solid zone of prior resistance stretching back over 2.5 yrs just atop that 68.50 level. The most recent rejection was last summer when it sold off steadily before establishing that double bottom support off the 57.50 zone.

Yen has been on the table here of late for obvious reasons & this pair will be near the top of my watch list as it begins attracting attention up here, with clear higher low steps identified on the 4H chart as area's of bid & stop order activity.



zilly & kipper have been discussing this pair back a page or 2 since before it moved into & backed away from the 1.0050 resistance zone that zilly had made reference to near the beginning of Feb.
Obviously that same area will still be on the radar next time it revisits, but for the time being the short bias is bringing the next possible support zone into focus down at the 0.9725 – 09775 area.
I'll start getting interested in this pair once price starts nibbling either of those levels.

[shona123]

I'll keep kyle company & throw up another pair to keep a lazy eye on as it works its way around a previous area of support/resistance.
Doesn't really require too much explanation - it's pretty much a straightforward visual up & down assessment of the current state of play.
Usual pullback (hook) entries as delivered via the shorter timeframes for futher upside pressure & wait see how it reacts to the lower levels first before considering switching bias & engaging shorts.

[hawkmoon]

i like this play on the eur/jpy pair.
it has broke the 107.50 lower range this morning in tokyo & can be picked up again on pullbacks if persons are not able to trade in the tokyo business sessions. any continued soft pricing on the euro currency will assist this pairs downside momentum i think.
when prices break thes solid support or resistence levels the pullbacks are nice places to get in on either the hook signal or perhaps the 1,2,3 & 2 bar technical plays.

[bigdog]

i still have a long bias for the cable. Daily and 4H have me looking for longs only.

A 1-2-3 on the 15M chart would get my interest on or around that 1.5820 - 30 level.

[strobe]

i like this play on the eur/jpy pair.
it has broke the 107.50 lower range this morning in tokyo & can be picked up again on pullbacks if persons are not able to trade in the tokyo business sessions. any continued soft pricing on the euro currency will assist this pairs downside momentum i think.

Great minds!
I sent this to a buddy earlier who I've recommended this thread to. I caught the 1st pullback as London geared up & we were talking about the how's & why's of timing entries etc, so I sent this across to him as a live example of what he might want to start focusing on.

Today's high-to-low ADR is a little on the heavy side, so there's not a whole lot of juice left in the day, but considering the damp conditions euro currently finds itself in, there might be a little mileage in triggering these trades with acceptable stop/risk levels close by to obtain a 1:1 or 1:1.5 return.

Anyhow, just thought I'd throw it up as it further confirms the consistently applied analysis that the contributors are in majority agreement with.

[strobe]

i still have a long bias for the cable. Daily and 4H have me looking for longs only.
A 1-2-3 on the 15M chart would get my interest on or around that 1.5820 - 30 level.

I'm finding the main Pound & Euro pairs a little hard to read at current levels bigdog, therefore am giving them a wide berth at the moment.
I hope you can unlock it & obtain some positive results trading either one, if you can you're a better man than me at the moment

I do like that trigger you operate though, it's a beauty when it sits up at big clear levels!!

[zilly]

i still have a long bias for the cable. Daily and 4H have me looking for longs only.
A 1-2-3 on the 15M chart would get my interest on or around that 1.5820 - 30 level.

And thar she blows bigdog....you got your 123 nicely off the anticipated level.

A lot of important data being released to the market this week which might make prices (& traders) slightly wary & jumpy.
I would imagine liquidity levels will suffer until the Int rates & nfp data has been & gone.

[hawkmoon]

Great minds!
Today's high-to-low ADR is a little on the heavy side, so there's not a whole lot of juice left in the day, but considering the damp conditions euro currently finds itself in, there might be a little mileage in triggering these trades with acceptable stop/risk levels close by to obtain a 1:1 or 1:1.5 return.

Yes they are of course very valid trades strobe & well worth takeing, but don't overlook the deeper pullbacks that spring back to test the range tops & bottoms for continuation orders & collect (easy money) stops that usually rest close to breakout levels.

If your inta-day stops get taken as price pulls back inside the range again, start looking for the usual topping behaviour on your hourly & sub hourly timeframes to enter at another good value level.
If the price action moves back beyond this pullback high & takes out stops above 107.80 then it invalidates this move to the downside. But triggering with a valid setup arond the breakout level of 107.50 offers very good odds to check the downside momentum towards the levels mentioned in my chart of yestarday.

These are the types of trades Tess, Jocelyn & their colleagues advised to us many, many times on their threds.

[jack mason]

don't overlook the deeper pullbacks that spring back to test the range tops & bottoms for continuation orders & collect (easy money) stops that usually rest close to breakout levels.
start looking for the usual topping behaviour on your hourly & sub hourly timeframes to enter at another good value level.
triggering with a valid setup arond the breakout level of 107.50 offers very good odds to check the downside momentum towards the levels mentioned in my chart of yestarday.

Nice trading hawkmoon.
Minimizing the risk, whilst maximizing the potential. Doesn't get much better than that when the price action offers up the opportunity to get onboard.
It's come to rest nicely into that 1st support zone & is now offers plenty of potential to either run it further on a shallow pullback break-and-run continuation, or wait see how it reacts to a more determined pullback to test the lower high possibilities on moves back towards the original b/o zone.


There's a very similar situation currently playing out on the Aussie.
Short term confirmed ceiling up at 1.0800 with risk pairs being sold off today.
Focus will now be on any pullback action towards that lower range floor to check for continued risk-off momentum.
Worth keeping close tabs on the smaller trigger timeframes to pick up low risk/high probability entry into this one if the technicals confirm.