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DanUK Simple EUR/USD Trading Journal 2009

  • #321
  • Aug 18, 2009 4:00am Aug 18, 2009 4:00am
Quoting fxacs
In fact the retrace was over and the price is going in the trend direction. What did you mean by "looks good for a retrace" ? Do you already consider we are dealing with a downtrend ?

I think he meant going bullish again.
  • #322
  • Aug 18, 2009 8:35am Aug 18, 2009 8:35am
Hi Dans friends,
We all trade Jacko style, only go with the week and day trends.
so up trend.
Sorry for any confusion
  • #323
  • Aug 18, 2009 3:59pm Aug 18, 2009 3:59pm
I ment first line 1.41500
Round num.
  • #324
  • Aug 18, 2009 4:05pm Aug 18, 2009 4:05pm
Hi Gjp,
Gbp/usd nice call.
190 pips so far, lock in some prof.
thanks for making thing clear.
  • #325
  • Aug 18, 2009 7:04pm Aug 18, 2009 7:04pm
Quoting garyfb
Hi Gjp,
Gbp/usd nice call.
190 pips so far, lock in some prof.
thanks for making thing clear.

Good trading mate.
  • #326
  • Aug 19, 2009 1:48am Aug 19, 2009 1:48am
I was 250 pips profit on G/U and got closed at 170. Price is going down again? Anybody can try an explanation?
  • #327
  • Aug 19, 2009 3:58am Aug 19, 2009 3:58am
Quoting fxacs
I was 250 pips profit on G/U and got closed at 170. Price is going down again? Anybody can try an explanation?

6400/6350 areas are strong s/r areas. There could be a bounce back up from these areas. That's my take on the pair at the moment. 170 pips out of 250 is 68% not bad trading fxacs.
  • #328
  • Aug 19, 2009 4:18am Aug 19, 2009 4:18am
Good morning chaps,

I am currently short GBP/USD from 1.6500 (after rejection of the 1.6600 key area). I am considering shorting EUR/USD too.

Regards,

Dan
  • #329
  • Aug 19, 2009 4:30am Aug 19, 2009 4:30am
Quoting DanUK
Good morning chaps,

I am currently short GBP/USD from 1.6500 (after rejection of the 1.6600 key area). I am considering shorting EUR/USD too.

Regards,

Dan

Hi Dan,

GBP has dropped over 200 pips while the EURO has dropped just over a hundred. Interesting.
  • #330
  • Aug 19, 2009 4:49am Aug 19, 2009 4:49am
I'm long EUR/USD 1.4100 you in Dan?
  • #331
  • Aug 19, 2009 5:43am Aug 19, 2009 5:43am
Quoting GJP
I'm long EUR/USD 1.4100 you in Dan?
Hi GJP,

The jury is still out on this one! As we don't have any real commitment to a trend at the moment I will only be taking a trade if we get a good price action signal.

For example my recent entry into G/U was based on a bearish engulfing bar (4 hour chart) off of the 1.6600 level.

To be honest I wouldn't be surprised to see E/U drop; hence I am waiting for a good setup to place a trade.

Regards,

Dan
  • #332
  • Aug 19, 2009 6:09am Aug 19, 2009 6:09am
Quoting DanUK
Good morning chaps,

I am currently short GBP/USD from 1.6500 (after rejection of the 1.6600 key area). I am considering shorting EUR/USD too.

Regards,

Dan
Interesting. So going short means you think the trend will change. How did you decide to go short? I am sure you have a good reason. I am still going long on E/U, and waiting to enter on G/U
  • #333
  • Aug 19, 2009 6:30am Aug 19, 2009 6:30am
Quoting fxacs
Interesting. So going short means you think the trend will change. How did you decide to go short? I am sure you have a good reason. I am still going long on E/U, and waiting to enter on G/U
eu long only if above 4180 IMO
/ ... clarifying decisions ... /
  • #334
  • Aug 19, 2009 7:17am Aug 19, 2009 7:17am
Quoting fxacs
Interesting. So going short means you think the trend will change. How did you decide to go short? I am sure you have a good reason. I am still going long on E/U, and waiting to enter on G/U
Hi Fxacs,

I think that the trend could change... we have broken trendlines on the 4 hour chart and a lot of congestion. It could go either way at the moment which is why I am not entering any positions without confirmation.

When there is no real discernable trend I like to be extra cautious and so I prefer to enter using price action setups at the upper and lower limits of the congested area; on G/U the 1.6650-1.6600 area has held a lot of weight recently which is why I used it to trade from. On E/U 1.4100 has had a lot of action recently although not as important as 1.4300 and 1.3850 areas.

Strictly speaking my G/U trade is counter-trend as it is right to assume the existing trend remains intact until a new trend has formed!

Regards,

Dan
  • #335
  • Aug 19, 2009 7:22am Aug 19, 2009 7:22am
Quoting walb99
eu long only if above 4180 IMO
Hi,

Interesting view point - would you mind sharing your reasons on this?

Regards,

Dan
  • #336
  • Aug 19, 2009 8:07am Aug 19, 2009 8:07am
Quoting DanUK
Hi,

Interesting view point - would you mind sharing your reasons on this?

Regards,

Dan
This would be above the 200 ema
/ ... clarifying decisions ... /
  • #337
  • Edited 11:47am Aug 19, 2009 10:09am | Edited 11:47am
Finally got a nice bullish reaction off of 1.4100. I went in long at 1.4150.

GJP - Did you take the trade? Should be looking good by now!

Regards,

Dan

PS... Should also mention I have reversed position on G/U. Closed my short at 1.6450 and went long in the same place. I intend to trail both positions now using the standard 100 pip stop loss.
  • #338
  • Aug 19, 2009 4:31pm Aug 19, 2009 4:31pm
Quoting DanUK
Finally got a nice bullish reaction off of 1.4100. I went in long at 1.4150.

GJP - Did you take the trade? Should be looking good by now!

Regards,

Dan

PS... Should also mention I have reversed position on G/U. Closed my short at 1.6450 and went long in the same place. I intend to trail both positions now using the standard 100 pip stop loss.


Yes Dan in at 1.4100 and short on USD/CHF 1.0741 didn't enter GBP/USD this time. The USD/CHF trade was not based on your trading method but on the one I pm you about. Have moved all the stops up now.
  • #339
  • Aug 19, 2009 10:50pm Aug 19, 2009 10:50pm
Short at 4225 (in bed at 4250)
SL 50 pips (still struggling with giving it 100)
TP 4000 ish

Rationale
1. Daily TL broken to downside
2. H4 making both LHs and LLs TL currently down from 4447 down to 4266
3. 50% retracement from 4467 to 4086

Still on demo not good enough to go live!

Andy
  • #340
  • Aug 20, 2009 6:54pm Aug 20, 2009 6:54pm
I put an order in to exit my trades late last night Aussie time. My reasoning was they were both pretty much range bound. I had a choice to wait it out and the possibility of them reversing back to my stops or taking out more pips at the higher end of there respective ranges. Due to the fact the EUR/USD had been a bit whippy lately, I decided to protect what I had.

Result : EUR/USD 160 pip profit. USD/CHF 102 pip profit.

Dan, when trading your method, do you ever close your trades out as I have just done or do you always stick to the method of moving your stops up and letting the market close your trades?
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