Are you actually trading the stock indexes or just using them for reference?
Banker, here is a comparative chart of U/Cad and the S&P - the S&P is the best indicator for market response - assuming the U/Cad follows oppositely gives alittle insight to where the pair may go.
So you are using it to spot divergences in price action between the two and then using the index as an indicator for your usdcad entry?
At times - I have to go to motorcross - see if I can break a leg - would you be comfortable posting one of your charts - I am curious. I would like to look at it later
Sure… Well if you do crash make it worth it haha
Okay, here is a screen shot from my trading chart for the A/U. I have had the trend line drawn since last week. For a trend line to be considered valid, I need three peaks or three troughs in three seperate days that can be connected by a line, after that is confirmed I draw my trend line and wait for the price to come back to it. Typically I trade the trend reversal breakout, in this case it would be a long entry since the trend line is downward. For a trend reversal breakout entry I wait for two things to occur, a 30 minute bar close above the down trending line, AND a bullish 30 minute engulfing bar. The first bullish bar close above the trend line happened last Thursday, but no bullish engulfing bar occurred so I did not trade it, and it turned out to be a fake out. The next close above the trend line also happened to be a bullish engulfing bar as well, this was the result of the monetary policy meeting minutes being released for the AUD. I entered this trade long after the following bar broke the high of the engulfing bar and set my sl at the low of the engulfing bar, and tp equal to my sl. I would typically set my tp higher but I had a significant horizontal level of resistance drawn, as well as coinciding 100 and 200 sma’s, that I did not think price would go through.
Here is another way I trade the trendlines… This one on the NZDUSD. In this trade, I had a trendline forming from two troughs occuring the 15th and 17th, and price was approaching this line last night. At the point the price intersected this forming trend line, it also intersected a horizontal level of support I had drawn previously to that. The 30 min bar that hit the trend line reacted nicely and I waited till the bullish close of the following bar to enter long. I only enter in the direction of the trend like this when there is an approaching news event approaching the next day, in this case the FOMC. Psychologically, people do not want to try driving prices through a trendlines or major support and resistance during the period leading up to major news, therefore supports and resistances work better during this period.
The sl on this trade was the low of the 30 min bar that first hit the trendline last night, and the tp was set at the red (100) SMA.
Now that there are 3 points to confirm the trendline, I will be keeping an eye on this pair for a trend line reversal to go short on. Likely occurring late next week I would imagine…
Kiwi 1 hr from chart above(tradeinterceptor was not allowing me to get the timeframe on the 30min)
Nice and simple - I like it. So the 100ma running just above the bottom trendline became a point of entry for a long. The 200ma coming through the channel defined the bottom for kiwis run up today. Will you be placing a copy of your trendline on top to define the channel to see if the pair slips back into it - or for support(I put it in to see how it would line up - sorry took some liberties)
I typically do not put much thought towards trend lines on peaks for up trends, or trend lines on troughs for down trends… In this case however, I am taking notice because chinas PMI is being released in 40 mins and if it is low, then the top trend line would be confirmation of a short entry 
Well looking at it closer the price has moved to far past the top trend line to be used as confirmation, depending on what price does after PMI release, it could be used as a point where I would move my SL to BE. After this release, If I do not trade it, I would not consider the top trend line to be reliably significant.
Also, you have your 100 and 200 moving averages set to triangular… I had mine in my charts to be simple moving averages, not that you cannot use triangular, in this case triangular would have been better, but there is a little bit of difference.
PMI came in low as I expected, AUD was at resistance… large move down I already closed at 20 pips +
Yup!.. If I had shorted NZD instead of AUD I would be moving SL to break even now as it has hit the top trendline.
P.S. I had started trailing an entry short, 5 pips under the price at 15 mins before news release on the AUD.
This is why I chose AUD, it was smack dab on a significant level of resistance coming into a major news release.
Okay - that was really astute of you - your hired - I watch for the shorter time frame moves, but really need someone to post the support and resist and point out some of the greater risk events, like you did…oh, I mean would you be possibly able to post some charts and give a heads up to risk events now and then, it would be helpful…think about it, I am just about done for the day. Nice talking and nice trading.
Ha… I spose. Take me motorcrossing and we will call it even…
S&P 500 10 min
Good, glad you took your time to think about it and just so you know the bike is on me more then I am on it - and for interest, back to the charts - thought the S&P was going to choke but recovered - U/Cad still on the slide
