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Trend Trading Chart Thread

  • #461
  • Dec 2, 2009 1:05pm Dec 2, 2009 1:05pm
Quoting DanUK
Royal Navy!?!
I think its short-hand for Round Numbers..
  • #462
  • Dec 2, 2009 5:09pm Dec 2, 2009 5:09pm
Quoting Pervaz
I think its short-hand for Round Numbers..
Nah, it stands for royal navy mate. sorry.

I meant round number (RN).

Hope this helps.

PS: this is MY personal view on things. it may not agree with others point of view. At the end of the day, that is what creates market movements lol
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  • #463
  • Dec 2, 2009 7:24pm Dec 2, 2009 7:24pm
It agrees with my view on the Euro Pip. If I wasn't already in the Euro at 1.4900 I would be looking for a reaction somewhere between 1.4950 and 1.5000.
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  • #464
  • Dec 3, 2009 7:48am Dec 3, 2009 7:48am
Is anyone else considering this trade?

Looking for the bounce off 88.50 and a sell at 88.00...
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  • #465
  • Dec 3, 2009 9:00am Dec 3, 2009 9:00am
Hi tradeone looking at the same area.
  • #466
  • Dec 3, 2009 9:29am Dec 3, 2009 9:29am
We've had the bounce off 88.50
  • #467
  • Dec 3, 2009 11:22am Dec 3, 2009 11:22am
Quoting castlerock
Hi tradeone looking at the same area.
Hi, I was looking for the same thing lads.
Kind Regards zol
  • #468
  • Dec 3, 2009 11:38am Dec 3, 2009 11:38am
Wonderful thread!

Here are the levels of my interrest. I do not live trade on this NFP Friday though.....

Kiwi is at point and I am short. We made a LH and a LL on the daily so fingers crossed.

JPY is correcting and there is a TL and 50% confluence. This down trend did not end with this now - I hope and bet on it.

AU and EU have to move more to long them with less risk.

GU is getting there. 6495 is better place to look at and we should round it up to 6500. If touches I may long it at 6550. 6700 was quite safe to short actually but I would rather take long trades as an anticipation of upside trend continuation.

Good luck.

PS: I may not do a thing as I have visitors and they want to party on a ska concert tonight....

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Kind Regards zol
  • #469
  • Edited Dec 4, 2009 1:28pm Dec 3, 2009 5:54pm | Edited Dec 4, 2009 1:28pm
Quoting zoli
GU is getting there. 6495 is better place to look at and we should round it up to 6500. If touches I may long it at 6550.
agreed, be careful with the kiwi though...

G/U approaching 1.65, unfortunately I can't watch this during asian session and will probably miss this trade.

edit: watching the currencies right now (time = EU @ 1.4834) and OMG stop the selling already!! (not in any trade yet...)
  • #470
  • Edited 9:10am Dec 7, 2009 8:11am | Edited 9:10am
in E/U 1.4850 and A/U 0.9150, SL almost hit (few pips away).

1) E/U broke daily trendline and the horizontal support @ 1.4820
2) dollar looks bullish (broke descending daily trendline and bounced)

I wanted to be early, since I missed 3-4 good trades earlier past few weeks which would have been in profit, I didn't want to miss this one, but took these trades too soon.

I'm now waiting for the start of the US session. but things look bad.

what are your takes on this?

edit: I'm long by the way, and the two reasons mentioned above makes it all look bearish
  • #471
  • Dec 7, 2009 8:54am Dec 7, 2009 8:54am
Quoting bazooki
in E/U 1.4850 and A/U 0.9150, SL almost hit (few pips away).

1) E/U broke daily trendline and the horizontal support @ 1.4820
2) dollar looks bullish (broke descending daily trendline and bounced)

I wanted to be early, since I missed 3-4 good trades earlier past few weeks which would have been in profit, I didn't want to miss this one, but took these trades too soon.

I'm now waiting for the start of the US session. but things look bad.

what are your takes on this?
i am in A/U long at .9103. aiming for the 300 region.
  • #472
  • Dec 7, 2009 9:06am Dec 7, 2009 9:06am
Quoting herzog21
i am in A/U long at .9103. aiming for the 300 region.
IMO the scenarios I anticipated in a previous post are outdated. The figure on NFP was really strong and this market is rater bearsh on the short term. I anticipate correction and a downmove may continue. Certainly no one can see the future.

All I can see

EU broke down its daily TL. To be more sure we want to see a LH on the daily so atm it is hart to tell.
AU is in a range consolidation at the top of its uptrend.
Kiwi is already in a down trend.

These things correlate on the long run. Sure, EU is rather the leader, but I think a kind of ranging up and down can be the market for December.

So I think expecting AU to move up 200 pips before some more struggle is a brave thing - in the lights of the above. We will see later anyway.

Good luck!
Kind Regards zol
  • #473
  • Dec 7, 2009 12:35pm Dec 7, 2009 12:35pm
Hi guys,

these are my trades and im sticking by my decision.

Hope this helps.

Even if im wrong, the key here IMHO is to stick to YOUR view of the market, and these are mine

My 2 cents and a nickle lol

PS: I did miss an entry short on USD/CAD @ 1.0600. oh well....
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  • #474
  • Dec 7, 2009 12:57pm Dec 7, 2009 12:57pm
Looking for a reason not to get into the Euro produced none, the following rules were applied and I entered at 1.4850

TL taken from 2nd October to 3rd November
Round Number 1.4800 held over 12 hours (3 x 4hr candles)
and a 50% retrace taken from the first point of the trendline (2nd Oct)
Placed and order 50 pips above support levels, order was filled.
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  • #475
  • Dec 7, 2009 1:11pm Dec 7, 2009 1:11pm
Outer Trendline taken from 13th October to 27th November
Inner Trendline taken from 19th October to 26th October

Both Trendlines coverge around 7th December acting as a strong support, 50% retrace level taken from the start of the outer TL and the round number 1.6300. Price failed to close below 1.6350 where there was evident support, an order was placed at 1.6400 for a buy, order was filled.

I'm quite sure I could have entered at 1.6350, for me, 1.6400 seemed a safer level.
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  • #476
  • Dec 7, 2009 1:21pm Dec 7, 2009 1:21pm
Trendline taken from 1st October to 3rd November, third touch at 7th December, this TL held below 1.0250, with the 50% fib in close proximity of these barriers, I placed an order at 1.0200 and the sell order was filled.

Fib taken from 1st October (beginning of TL) to 26th November.
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  • #477
  • Dec 7, 2009 1:23pm Dec 7, 2009 1:23pm
Congratulation to your trades Xj8!

Good to see this method as implemented. I am out now with 2 AH trades done today - I fortunatelly got back rom the markt what I gave away. This is a great strategy as I am sure will make misstakes in the future.

I agree that EU and AU provided good entry opportunities to the long side. I am still on the sidelines though. After recovering my loss this is fine to me atm.

I still think that this drop wa really sudden and may go up just to correct.

Anyway, my big problem with my trading is my head being between my ears. Why should I second guess if we have this nice and simple strategy?????

I wish we all make nice pips on the long run!
Kind Regards zol
  • #478
  • Dec 7, 2009 1:45pm Dec 7, 2009 1:45pm
Quoting zoli
Congratulation to your trades Xj8!

Good to see this method as implemented. I am out now with 2 AH trades done today - I fortunatelly got back rom the markt what I gave away. This is a great strategy as I am sure will make misstakes in the future.

I agree that EU and AU provided good entry opportunities to the long side. I am still on the sidelines though. After recovering my loss this is fine to me atm.

I still think that this drop wa really sudden and may go up just to correct.

Anyway, my big problem with my trading is my head being between...
I'm under no illusions that anything that can go wrong will go wrong, I have followed the simple rules laid out in Dan's thread, at best they work 80% of the time, 20% will unavoidably fail, but the end result is a huge margin in our favour, the psychology is the only real anchor in this system.
  • #479
  • Dec 7, 2009 2:29pm Dec 7, 2009 2:29pm
0.9000 looks like a good barrier, if it hits this a possible buy order at 0.9500 will be placed, all depends on the support around this area. Again, it's just an area to watch.
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  • #480
  • Dec 7, 2009 2:40pm Dec 7, 2009 2:40pm
Quoting Xj8
0.9000 looks like a good barrier, if it hits this a possible buy order at 0.9500 will be placed, all depends on the support around this area. Again, it's just an area to watch.
You mean 9050 right?
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