DanUK Simple EUR/USD Trading Journal 2009 | Page 27 | Forex Factory

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DanUK Simple EUR/USD Trading Journal 2009

  • #521
  • Sep 25, 2009 9:43am Sep 25, 2009 9:43am
i dont update the trend lines until monday so right now i see some resistance a 1.4700 do you agree? the price just broke down and is testing the suppport to make it resistance again.
  • #522
  • Sep 28, 2009 7:28am Sep 28, 2009 7:28am
Thoughts on going long with g/u? Looking on the 4h chart it has bounced around 1.5775. IS this a good entry point or it a suckers bounce and about to head further south?
  • #523
  • Sep 28, 2009 8:33am Sep 28, 2009 8:33am
Quoting truckjrt
Thoughts on going long with g/u? Looking on the 4h chart it has bounced around 1.5775. IS this a good entry point or it a suckers bounce and about to head further south?
As I look at my chart, I see a break of the lower trendline and a close below 1.5800, retraced back to the trendline at 1.5900, I then entered short at 1.5850 with the possibility of it reaching 1.5700 as the first target and 1.5400 as the second target.

I believe it is trending down and we should be looking at possible short trades, again, this is how I read the current GU chart, open to ideas though.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.jpg Size: 187 KB
  • #524
  • Sep 28, 2009 5:01pm Sep 28, 2009 5:01pm
JX8


what are those 3 lines going down? i dont understand the middle line?
  • #525
  • Sep 28, 2009 5:26pm Sep 28, 2009 5:26pm
g/u showing tight squeeze on 1H charty
  • #526
  • Sep 28, 2009 5:27pm Sep 28, 2009 5:27pm
w/ bulls stomping the yard
  • #527
  • Sep 29, 2009 3:06am Sep 29, 2009 3:06am
Dan said someone told us never to trade in August. That was a good advice. Unfortunately September was not too good either

Hoping to a retracement on E/U and a trend established on G/U (I think it's a downtrend).
  • #528
  • Sep 29, 2009 4:19am Sep 29, 2009 4:19am
Hi guys,

Sorry I haven't posted much recently - had a long weekend with no time for trading!

I am back to it now though; my current thoughts are...

E/U is coming into firing range now - would like to see it go a little lower before I am in though.

G/U still heading down, no trades for me at the moment but will be watching for a retracement to go short.

Hope everyone is well.

Regards,

Dan
  • #529
  • Sep 29, 2009 4:20am Sep 29, 2009 4:20am
Quoting fxacs
Dan said someone told us never to trade in August. That was a good advice. Unfortunately September was not too good either

Hoping to a retracement on E/U and a trend established on G/U (I think it's a downtrend).
Hi Fxacs,

Perhaps you could post some charts showing where you went wrong? It might help for others to have a look over and offer some advice, if possible.

Regards,

Dan
  • #530
  • Sep 29, 2009 4:41am Sep 29, 2009 4:41am
Quoting IliaM
JX8


what are those 3 lines going down? i dont understand the middle line?
Hi Iliam

Once you have established a good first trendline this will give you the direction of the trend, duplicate that line and take it to (in the case of the current GU) the bottom to form a channel, a third line is duplicated and placed exactly (or a near to) half way between the top and bottom trendlines, if you do this you will see that price tends to pay attention to this trendline also. You might want to backtest to verify this, it's not always used, but it can be useful when it hits round numbers and fibs.
  • #531
  • Sep 29, 2009 6:49am Sep 29, 2009 6:49am
Price to retrace back up to 1.6250 where I have a middle trendline in place along with a 50% fib. Of course there is also the 1.6150 and 38.2 retrace to consider, I suppose it's that waiting game again. I would be looking for a sell at either of these two points, let me know if anyone else is looking at the same thing, thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.jpg Size: 184 KB
  • #532
  • Sep 29, 2009 6:50am Sep 29, 2009 6:50am
Hello Dan,

I had some bad trades on G/U mostly because I used my emotions too much, instead of be patient.

How lower do you expect the E/U price to go down before opening a long position?
  • #533
  • Sep 29, 2009 6:57am Sep 29, 2009 6:57am
I'm not sure about the Euro, mainly because of where to take the fib from, at the moment I'm using September 1st 16:00 GMT (H4) on MetaTrader to 23rds high, 50% retrace takes me to approx. 1.4500 and the 61.8 takes me to around 1.4450 with a trendline in the vacinity, this would support an area for a possible buy, any ideas?
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.jpg Size: 188 KB
  • #534
  • Sep 29, 2009 7:12am Sep 29, 2009 7:12am
Quoting fxacs
Hello Dan,

I had some bad trades on G/U mostly because I used my emotions too much, instead of be patient.

How lower do you expect the E/U price to go down before opening a long position?
I wouldn't worry about the bad trades, I just got my fingers burnt on the GU too, I might have jumped the gun on a sell at 1.9850, my stop was at 1.9950, and as you can see, bye bye 100 pips, a bit more patience was the cure, then again, sometimes you're afraid to miss the boat, better to let it sail than jump on one that sinks.
  • #535
  • Sep 29, 2009 7:18am Sep 29, 2009 7:18am
Hi,xj8 got fibs in same area looking @14450 also but will wait and see what happens if price get there.
  • #536
  • Sep 29, 2009 9:24pm Sep 29, 2009 9:24pm
Did anyone open an E/U trade at 1.454-1.455 area? Or is there still thought that it will retrace back down to 1.44?


On G/U is it retracing back to 1.61 (50% fib) area and then going lower or did it bounce at 1.58 and it is still trading in a range? And now is the time to go long? I think it is going to retrace back to 1.61 and then go south from there.
  • #537
  • Sep 30, 2009 4:49am Sep 30, 2009 4:49am
Morning folks.

Im finally long on E/U from 1.4600 with SL @ 1.4500.

I watched how price bounced around 1.4550(ish) and decided to go for it.

If price retraces and takes me out i will place a A/H back into the market.

All the best.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 47 KB
  • #538
  • Oct 1, 2009 1:35am Oct 1, 2009 1:35am
Good morning folks,

I am in G/U short from 1.6050 after bouncing off the 50% retracement at 1.6100.

I have not yet opened a trade on E/U but I am watching... waiting for the right moment!

Regards,

Dan
  • #539
  • Oct 1, 2009 5:03pm Oct 1, 2009 5:03pm
just went long on EU
1.4530
  • #540
  • Oct 2, 2009 1:37am Oct 2, 2009 1:37am
I seems there is a big struggle on E/U around 1.4550. Are you waiting for the price to hit 1.4500 to go long?
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