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Trend Trading Chart Thread

  • #481
  • Dec 7, 2009 1:01pm Dec 7, 2009 1:01pm
Quoting coolshades
You mean 9050 right?
Yup, 9050, someone moved my buttons on the keyboard, or something, might have been the cat.
  • #482
  • Dec 7, 2009 9:21pm Dec 7, 2009 9:21pm
Quoting Xj8
Yup, 9050, someone moved my buttons on the keyboard, or something, might have been the cat.
Hi Xj8, very good analysis. I'm looking at the same price AU @9000, good RN, fibo 50% and TL
  • #483
  • Dec 8, 2009 1:10am Dec 8, 2009 1:10am
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.
Hi XJ8

Nice clean and simple (understandable) lines and format

Helped to clear a few questions in my head

Thanks
  • #484
  • Dec 8, 2009 5:46am Dec 8, 2009 5:46am
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)
E/U SL hit, still in A/U but will probably hit SL soon.

like Zoli, I will stay on the sidelines. I will wait until I see a clear HL on E/U (of course, with me on the sidelines, it will rocket without any retrace to 1.55 )
  • #485
  • Dec 8, 2009 11:00am Dec 8, 2009 11:00am
GBU/USD, EUR/USD and USD/CHF, ouch, ouch and ouch, all I can say is, setups for me were correct for entry, it's that 20% where things can go wrong, and in my case I was thumped, however, not to be put off, money management is all important when times like this happen, and I will still be looking for the same set ups for future trades, maybe not so close to Non Farm the next time.

Still looking at the AUD/USD for a reaction at 0.9000, if there is one and price moves away from it, then 0.9050 will be on the cards for a buy trade.
  • #486
  • Dec 8, 2009 11:22am Dec 8, 2009 11:22am
Quoting Xj8
GBU/USD, EUR/USD and USD/CHF, ouch, ouch and ouch, all I can say is, setups for me were correct for entry, it's that 20% where things can go wrong, and in my case I was thumped, however, not to be put off, money management is all important when times like this happen, and I will still be looking for the same set ups for future trades, maybe not so close to Non Farm the next time.

Still looking at the AUD/USD for a reaction at 0.9000, if there is one and price moves away from it, then 0.9050 will be on the cards for a buy trade.
Things like this happen. I had the same experience yesterday morning and I needed to do the AH strategy to get my loss back.
I would think that trading EU and UC is the same thing, you might as wel double up on EU instead.

Even trading EU and AU seems to be doubling up sometimes but they do not correlate to that extend. For me GU is fine though...

I am looking to short this markets from the 50% correction of this down swing to be honest. Could be a potential long case until they struggle themselve up to that level.
AU looks nice to long around 9000-8950 to me too.
EU rather 4650-4600 to long.

May the Force be with us!
Kind Regards zol
  • #487
  • Dec 8, 2009 11:30am Dec 8, 2009 11:30am
"A" says BUY
"B" says WHATEVER
"C" says Sell
Attached Image (click to enlarge)
Click to Enlarge Name: bmc eurusd daily 4.gif Size: 262 KB

Expect this type of Indecision until Mid January '10
  • #488
  • Dec 8, 2009 11:35am Dec 8, 2009 11:35am
Quoting zoli
Things like this happen. I had the same experience yesterday morning and I needed to do the AH strategy to get my loss back.
I would think that trading EU and UC is the same thing, you might as wel double up on EU instead.

Even trading EU and AU seems to be doubling up sometimes but they do not correlate to that extend. For me GU is fine though...

I am looking to short this markets from the 50% correction of this down swing to be honest. Could be a potential long case until they struggle themselve up to that level....
Yes these trades do mirror each other, I normally do both with less ground to cover to achieve the profit margin, ie, if I was going for 100 pips on the EU I have to stay in for the full 100, with the UC in tandem, I can achieve 100 pips with only covering half the ground, 50 pips per pair, just an example.
  • #489
  • Dec 8, 2009 12:17pm Dec 8, 2009 12:17pm
Quoting Xj8
GBU/USD, EUR/USD and USD/CHF, ouch, ouch and ouch, all I can say is, setups for me were correct for entry, it's that 20% where things can go wrong, and in my case I was thumped, however, not to be put off, money management is all important when times like this happen, and I will still be looking for the same set ups for future trades, maybe not so close to Non Farm the next time.

Still looking at the AUD/USD for a reaction at 0.9000, if there is one and price moves away from it, then 0.9050 will be on the cards for a buy trade.
It's good to see traders post their setups and trades before the fact, with possible losses.

All currencies discussed here are approaching important levels (which are all mentioned in the last few pages). Also have a look at USD/CAD, approaching the upper descending trendline (daily or H4)
  • #490
  • Dec 8, 2009 12:39pm Dec 8, 2009 12:39pm
Quoting bazooki
It's good to see traders post their setups and trades before the fact, with possible losses.

All currencies discussed here are approaching important levels (which are all mentioned in the last few pages). Also have a look at USD/CAD, approaching the upper descending trendline (daily or H4)
Duly Noted.

Excluding a usable 50% fib line, two barriers noted on this pair at 1.0700 is a good hotspot to watch.
Attached Image (click to enlarge)
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  • #491
  • Dec 8, 2009 1:41pm Dec 8, 2009 1:41pm
misery loves company and i too havent had a great week. however audusd long at 0.9050, cable long at 1.63 (sucker for punishment)
  • #492
  • Edited 3:33pm Dec 8, 2009 2:04pm | Edited 3:33pm
Quoting Xj8
Duly Noted.

Excluding a usable 50% fib line, two barriers noted on this pair at 1.0700 is a good hotspot to watch.
yes, but it doesn't always touch the trendline (the two highs in the center of your chart).

at this very moment 1.0660 is being rejected, creating a * possible * pinbar on H4. an entry could be 1.0600, according to the rules of this thread.

but I think I'll just wait and watch E/U and A/U, both still about 80 pips away from the areas of interest.

any comments on USD/CAD appreciated.

edit: nevermind, pinbar failed
  • #493
  • Edited 4:29am Dec 9, 2009 4:07am | Edited 4:29am
[quote=bazooki] yes, but it doesn't always touch the trendline (the two highs in the center of your chart).

I agree with you here, I like to see confluence of three barriers for a stronger win probability, my preferred entries are trendline, 50% retrace and round numbers. Confluence of 2 barriers is all that is required for Dan's method, the trendline being significant in direction, and you can trade from it without waiting 50 pips.

In the example below, USD/CAD, my preferred trade would be price to move to the trendline at 1.0700, I can see that price has not reached it and 1.0650 is holding, the 50% is just below it, for this trade I would wait for price to move 50 pips so an entry at 1.0600 would be a good place to enter.

This is how I see this method, Dan if you're reading this, correct me if I'm misinterpreting the method.
Attached Image (click to enlarge)
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  • #494
  • Dec 9, 2009 4:18am Dec 9, 2009 4:18am
Quoting coolshades
misery loves company and i too havent had a great week. however audusd long at 0.9050, cable long at 1.63 (sucker for punishment)
Same here coolshades stopped out twice last two trades even my hard drive has been stopped out [reason for not much posting last couple weeks]still the loses are only a tiny amount of what our gains have been.
  • #495
  • Dec 9, 2009 5:08am Dec 9, 2009 5:08am
Quoting Xj8
...for this trade I would wait for price to move 50 pips so an entry at 1.0600 would be a good place to enter.
yes would like to think that also, however, I'm not sure if the current move is just a small retracement of the bullish dollar, or the start of a new down move (and up move on E/U A/U).
  • #496
  • Dec 9, 2009 5:14am Dec 9, 2009 5:14am
I used the USD/CAD just as an example, I think this trade would be a risky one and I would be looking for something easier, the power struggle against a strong looking dollar at the moment looks like something you don't want to go up against, a sell on the USD/CAD would be pushing your luck. I'm just watching at the moment, doubt if I'll be trading this week, I'll clear all my charts at the weekend and look at them with a fresh pair of eyes when trading resumes next week.
  • #497
  • Dec 9, 2009 6:39am Dec 9, 2009 6:39am
Quoting castlerock
Same here coolshades stopped out twice last two trades even my hard drive has been stopped out [reason for not much posting last couple weeks]still the loses are only a tiny amount of what our gains have been.
Inserted Video
Kind Regards zol
  • #498
  • Dec 9, 2009 6:40am Dec 9, 2009 6:40am
I request all senior traders of this thread to please spare 5 mins and give there kind advice on this thread it will be so helpful

http://www.forexfactory.com/showthread.php?t=210628
  • #499
  • Dec 9, 2009 9:18am Dec 9, 2009 9:18am
indeed.
i have traded this system less than most since work intrudes but still ever since i have been trading this system, i am still up on the system gains.


Quoting castlerock
Same here coolshades stopped out twice last two trades even my hard drive has been stopped out [reason for not much posting last couple weeks]still the loses are only a tiny amount of what our gains have been.
  • #500
  • Dec 9, 2009 9:32am Dec 9, 2009 9:32am
Doesn't have a 50% fib I can comfortably place, but approaching a longer term daily trendline coming from 12th March and 20th April. There is another trendline close by taken from 24th June which does give better fib levels. One to watch as it approaches 1.0300.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usd_chf (d1) 09 dec.jpg Size: 109 KB
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