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tradpat Jul 19, 2010 10:13am | Post# 1

Daily Chart Trading Discussion
 
Hello Fellow Traders

This thread for traders who are interested in trading, analyzing, sharing PA, charts and candlestick patterns in plain and/or using 1 or 2 indicators possible, on H1/H4/D/W tf.

Looking forward to seeing your contributions and comments.

Happy Trading + Pippings.

p.s. English is not my main language, so I may not express good.
p.s. I have no affiliate to links listed below but they are only meant for educational purposes

Cheers
tpat

add: steve nison's candlestick training videos (thanks to halfstep) http://www.candlecharts.com/blog/
add: PA resources (thanks to bug) http://www.forexfactory.com/showthre...66#post3999966
add: long wick candles (thanks to greame) http://www.forexfactory.com/showthre...70#post4032270
add: steven nison's forex candlestick education (thanks to halfstep) http://www.forexfactory.com/showthre...48#post3283348
add 21-9: steven nison's "small body uptrend warning" training video (9 sept 2011) http://www.forexfactory.com/showthre...54#post4971654
add 28-9: PA+RN trading http://www.forexfactory.com/showthre...29#post4993229

tradpat Jul 19, 2010 10:31am | Post# 2

E-U Trade
 
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Hi Traders

I have long on E-U. Secured 0.05 lot for about 100 pips. Another 0.05 let it runs.

I need advise on SL?
Do I need to set TP? A must?

tpat
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uncle gromit Jul 19, 2010 10:58am | Post# 3

Euro/USD
 
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Long same as you. Some profit secured. At B/E on the 2nd half. Looking for 1.31 as a target on rest.
Completion of 3 drives pattern into a 38.2 retrace. Just my thoughts.
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tradpat Jul 19, 2010 12:25pm | Post# 4

Long same as you. Some profit secured. At B/E on the 2nd half. Looking for 1.31 as a target on rest.
Completion of 3 drives pattern into a 38.2 retrace. Just my thoughts.
Hi gromit

Great trade!
What is that "completion of 3 drives pattern into a 38.2 retrace?"
A candlestick pattern (I guess)?

tpat

uncle gromit Jul 19, 2010 12:59pm | Post# 5

Euro/USD
 
Hi gromit

Great trade!
What is that "completion of 3 drives pattern into a 38.2 retrace?"
A candlestick pattern (I guess)?

tpat
Fibonacci combined with price symmetry. In this case 3 equal wave lengths into a retracement level. Obvious place to get out. A key point of interest. Will it get there? I have no idea. Like all technical analysis, success is not guaranteed. Which is why I scale out. Takes the pressure off. If the pattern fails, I've still made a healthy profit. Rather that, than see price come all the way back and have to close out for a tiny profit or worse still B/E.

tradpat Jul 20, 2010 4:52am | Post# 6

Fibonacci combined with price symmetry. In this case 3 equal wave lengths into a retracement level. Obvious place to get out. A key point of interest. Will it get there? I have no idea. Like all technical analysis, success is not guaranteed. Which is why I scale out. Takes the pressure off. If the pattern fails, I've still made a healthy profit. Rather that, than see price come all the way back and have to close out for a tiny profit or worse still B/E.
Thanks for the reply.

tradpat Jul 20, 2010 4:54am | Post# 7

Anyone on GJ
 
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Hi Traders

Is there anyone trading on GJ? (EJ too)
It has been ranging > 1 month now.
Any comment (how to trade)?

tpat
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uncle gromit Jul 20, 2010 5:31pm | Post# 8

gbp/jpy
 
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Play the range or leave it alone til it breaks out.
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highlander2 Jul 20, 2010 6:55pm | Post# 9

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Hi, im looking at the gbp/usd, im looking for a long after todays bullish pinbar, im waiting for a retrace of todays bar to increase the RR if it happens,

orders are here-

Buy limit @ 1.5227
stop loss@ 1.5140
Tp @ 1.5450

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tradpat Jul 20, 2010 9:02pm | Post# 10

Play the range or leave it alone til it breaks out.
I thought so.
On Daily TF I do not have the skill / confidence to trade on range yet like GJ an aggressive pair moving so volatile.
Maybe today (now working) if I have time to look at H4, I hope to catch a good entry?

tradpat Jul 20, 2010 9:19pm | Post# 11

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Hi highlander

Like yours, I see a potential uptrend still hold in Daily but I put an pending order based on H4.
There are 2 pin bars shown.

What MAs you use?




Hi gromit

I like your "naked" trading chart.
I am trying to reduce indicators and possible later on to trade as "naked" as possible.



Good luck to you two.

tpat.
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highlander2 Jul 21, 2010 5:40am | Post# 12

Hi, I got a great fill, but a bit crazy at the moment, i was up 100 pips now back to 50 pips, havnt a clue what will happen!
Have not moved stop just yet.

tradpat Jul 21, 2010 5:41am | Post# 13

136 pips in M5
 
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Hi Traders

Anyone please share why it happened 136 pips as shown in M5 chart (GU)?

Thanks
tpat
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highlander2 Jul 21, 2010 5:43am | Post# 14

oh by th way the ema's are 8,21, 50 and 200. (exponential) i only use them for dynamic support and resistance. the 8 ema works great on strond trends.

tradpat Jul 21, 2010 9:42am | Post# 15

oh by th way the ema's are 8,21, 50 and 200. (exponential) i only use them for dynamic support and resistance. the 8 ema works great on strond trends.
Thanks for sharing. Keep up your good trading.

tradpat Jul 21, 2010 9:59am | Post# 16

Tweezer on E-G
 
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Hi

IMO a tweezer is formed on E-G.

The link for tweezer >
http://www.onlinetradingconcepts.com...TopBottom.html

Let's see if today's candle going down then to short tomorrow.

tpat
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highlander2 Jul 21, 2010 12:28pm | Post# 17

Hi tradpat, I dont think my trade is going to work out this time, im currently down 30 pips. I was up over 100 earlier, oh well...

This has happend a couple of times reecently, i may have to tweek my plan so that i move to BE after 1X risk.

we shall see.http://clip2net.com/clip/m0/1279729674-clip-14kb.png

tradpat Jul 21, 2010 10:01pm | Post# 18

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Hi highlander

The H4 pin bars did not work out well for uptrend. It's part of the game, man!

I am out and lost 125 pips on G-U as PA shown downtrend - full black candle closed below MA5 + 2 past black candles.

Pending for the news on US and GBP today to decide the trend.

P.S. Based on PA I see downtrend.

tpat
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tradpat Jul 21, 2010 10:14pm | Post# 19

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Made a short on Gold yesterday after SL was hit 2 days (collected $45).

tpat
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uncle gromit Jul 22, 2010 6:20pm | Post# 20

AUD/USD
 
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My current trade.

Long @ 0.8850. Stop @ 0.8775. Target 0.9100

Any retest of the breakout level that fails I will consider an add on opportunity.
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