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Trend Trading Chart Thread

  • #661
  • Jan 15, 2010 10:46am Jan 15, 2010 10:46am
short from 6297. was actually short from 6310, closed it for a few pips and again entered short.

i think i can guess your entry rationale. it would be the bounce of 6350, the downward trend line posted by zoli earlier. if the daily closes as a bearish outer today then this trade could run all the way down to 598 or so, which is the upward trend line

and am off now. might pop back in later.

we have our budgetting exercise for next year and ofcourse that allows for a lot of time for blue sky thinking (to be spent on these boards ;-))

Quoting DanUK
I am short G/U from 1.6300

Just popping out for an hour - will post a chart when I'm back
  • #662
  • Jan 15, 2010 11:18am Jan 15, 2010 11:18am
Quoting coolshades
short from 6297. was actually short from 6310, closed it for a few pips and again entered short.

i think i can guess your entry rationale. it would be the bounce of 6350, the downward trend line posted by zoli earlier. if the daily closes as a bearish outer today then this trade could run all the way down to 598 or so, which is the upward trend line

and am off now. might pop back in later.

we have our budgetting exercise for next year and ofcourse that allows for a lot of time for blue sky thinking (to be spent on these boards ;-))
I'm back (after less than an hour!).

Bang on - I don't even need to post a chart now! I will be happy if we see the day close below 1.6250.

Regards,

Dan
  • #663
  • Jan 15, 2010 11:27am Jan 15, 2010 11:27am
Anyone trading short EUR-CHF?
  • #664
  • Jan 15, 2010 2:40pm Jan 15, 2010 2:40pm
i was short gu also at 6250, perhaps abit cautious but oh well.
regarding watching x pairs, totally agree with less is better. I have come from several threads were they all watch everything and anything but my brain always felt like it was overloaded and i was never relaxed, always chasing my tail so to speak.

so one thing i will be doing is cutting back to a handful of pairs and im sure it will be less stressful and more fun!
  • #665
  • Jan 15, 2010 4:03pm Jan 15, 2010 4:03pm
Following on the coattails of coolshades suggestion....

As one that would like to learn to the point of having confidence in trading this strategy, the issue is creating a reasonable balance for those that have the information and have a desire to share it.

With this being a 24hr market, each has a trading life, some a work life, family life and even a social life. What is day for me is night for someone else.

Speaking for myself, this is the second time I come back here to give it a shot. I am not making reasonable progress. I am not blaming or complaining. Looking at the dilemma and seeking a solution.

If I understand it correctly, there are several key points to this mentor and grunt work.

There I suggest the following as another possability...

Dan, I think that if you or other qualified people, search the Internet (youtube) I am certain there are people, each sharing a component of what is being shared in your thread. Placing this links on page 1 will allow a training process that is permanent, for those elements that can be found.

If the information to train is here, it will do a lot to get someone such as myself on track. Otherwise its like watching all your friends play ball while you sit on the bench.

Once people have an understanding of what to do, the rest is grunt work. To make everyones life easier by sharing the grunt work, we could establish a chat, use a messenger or skype, to have anyone who you have approved to join that arena. Once joined, in addition to being the receiver of information, a pair becomes the responsibility of that person and to inform the group. In addition, if someone joins the live arena, they need to give back that which was shared by making a mentoring commitment to the thread.

Just another idea to make new people feel like they can do this and take the pressure off.

If I can get to a place where I know what I am doing, I would be happy to make the commitments I have suggested.

Have a great weekend,
BR

Quoting DanUK
I think it's a good idea - actually part of the reason for starting this thread was to post trade setups and ideas before they happen, partly for the learning experience for newbies and partly for those of us trading this method to share trades as you suggest.

In fact I would like to take that idea a step further. Eventually I would like one "senior member" (i.e. a regular contributor to this thread with a proven understanding of this method) to represent each currency cross. So (at some point in the future) we know that MemberX is the guy to...
  • #666
  • Jan 15, 2010 4:29pm Jan 15, 2010 4:29pm
Quoting Big1red9
Following on the coattails of coolshades suggestion....

As one that would like to learn to the point of having confidence in trading this strategy, the issue is creating a reasonable balance for those that have the information and have a desire to share it.

With this being a 24hr market, each has a trading life, some a work life, family life and even a social life. What is day for me is night for someone else.

Speaking for myself, this is the second time I come back here to give it a shot. I am not making reasonable progress. I am not blaming...
Hi BR,

I must admit that when I started this thread it wasn't designed to help people learn the method as such - it was more for those who already trade it to post charts and discussions of possible trade setups etc.

However it does seem that we might be able to offer more than that by helping those who aren't quite on track, to get there.

I shall have a think about this over the weekend. Meanwhile, would you be able to PM me some of the links that you referred to in your last post please so that I can investigate further.

Thanks for your suggestions BR!

Regards,

Dan

PS... Also if anyone else has any ideas/suggestions/thoughts for improvement please drop me a PM.
  • #667
  • Jan 15, 2010 4:32pm Jan 15, 2010 4:32pm
So, I didn't quite get the close below 1.6250 that I was after but we did close below the body of the previous day's candle so we have a bearish engulfing pattern. If that breaks it's a good sign for the trade!
  • #668
  • Jan 15, 2010 9:24pm Jan 15, 2010 9:24pm
Quoting DanUK
I am short G/U from 1.6300
same here - moved stop to BE when hit 1.6210 - leaving open for the weekend
  • #669
  • Jan 16, 2010 12:12am Jan 16, 2010 12:12am
i am not too fussed about youtube, however an updated version of the system on the first post of this thread would help. and that post should be kept refreshed regularly as and when the system gets tweaked.

since you are the originator of the system, only your tweaks are allowed to go in that post.

i think what big1r posted will help anyone, newbies to experienced. i know that i still have problems in 'seeing' a trade.

Quoting DanUK
Hi BR,

I must admit that when I started this thread it wasn't designed to help people learn the method as such - it was more for those who already trade it to post charts and discussions of possible trade setups etc.

However it does seem that we might be able to offer more than that by helping those who aren't quite on track, to get there.

I shall have a think about this over the weekend. Meanwhile, would you be able to PM me some of the links that you referred to in your last post please so that I...
  • #670
  • Jan 16, 2010 3:45am Jan 16, 2010 3:45am
Quoting coolshades
i am not too fussed about youtube, however an updated version of the system on the first post of this thread would help. and that post should be kept refreshed regularly as and when the system gets tweaked.

since you are the originator of the system, only your tweaks are allowed to go in that post.

i think what big1r posted will help anyone, newbies to experienced. i know that i still have problems in 'seeing' a trade.
It is a very good idea.

A summary of the method on page one is all that is needed in my opinion, any links to other sites such as "youtube" etc will only complicate the issues related to this really straightforward and simple system and will result in people trying to make unnecessary additions to it as we see in a lot of threads.
Regards
  • #671
  • Jan 16, 2010 6:39am Jan 16, 2010 6:39am
Quoting howard
It is a very good idea.

A summary of the method on page one is all that is needed in my opinion, any links to other sites such as "youtube" etc will only complicate the issues related to this really straightforward and simple system and will result in people trying to make unnecessary additions to it as we see in a lot of threads.
I agree a summmary on the first page is a great idea, anything i can do to help with links etc...... just let me know.
  • #672
  • Edited 9:15pm Jan 16, 2010 3:41pm | Edited 9:15pm
I agree with the summary of the method on page 1 but I think it is already good, as this method is obviously pretty simple. I think its all about screen time and looking at charts to be able to locate the best place to draw the trend line or fib etc.

I think this thread is going in the right direction if the senior members keep posting charts and explaining there reasons why. All should be fine and very helpful!
  • #673
  • Jan 16, 2010 9:16pm Jan 16, 2010 9:16pm
I just wanted to post a chart of a gj, It seems to me its at an area to keep an eye on, what are your thoughts everyone?
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  • #674
  • Jan 17, 2010 6:04am Jan 17, 2010 6:04am
Quoting supermatt
I just wanted to post a chart of a gj, It seems to me its at an area to keep an eye on, what are your thoughts everyone?
Hi Supermatt, my gj chart is setup exactly the the same as yours (so don't need to post it) and i have a pending order @ 148 with my stop just under 147 as this looks to be a strong support area looking at the daily chart incase it pushes through the trend line.
  • #675
  • Jan 17, 2010 9:34am Jan 17, 2010 9:34am
Quoting DanUK
So, I didn't quite get the close below 1.6250 that I was after but we did close below the body of the previous day's candle so we have a bearish engulfing pattern. If that breaks it's a good sign for the trade!
Hi dan like the idea's you are throwing about at the moment i have personally added and looked out for engulfing pattern's ,good head and shoulder pattern's and am a great fan of horizontal support /resistance all have added good conformation to this already excellent meathod i think another thread for more experienced traders is a good idea where we can throw up charts and our experience of trading this thread and the other one we would still obviously still post in to help along newer traders and also for those of us who just want to remain purists to this method i don't know if this is the lines you are thinking along with a new thread but this is just my thought's
  • #676
  • Jan 17, 2010 4:13pm Jan 17, 2010 4:13pm
possibly a high risk set up with an entry at 9250. the h4 has bounced off the upward trendline, which on my charts is at the low of 23/12, and 15/1. the last h4 has also closed above the 50% fib which is from the high of 14/1 and low of 8/1.

i call this high risk because the upward trending line is steep and there is lot of blue sky between the h4 upward trendline and the daily utl.
  • #677
  • Jan 17, 2010 5:39pm Jan 17, 2010 5:39pm
Quoting bez3000
Hi Supermatt, my gj chart is setup exactly the the same as yours (so don't need to post it) and i have a pending order @ 148 with my stop just under 147 as this looks to be a strong support area looking at the daily chart incase it pushes through the trend line.
I also have an order on this pair @ 148.00.
  • #678
  • Jan 17, 2010 7:19pm Jan 17, 2010 7:19pm
Quoting coolshades
possibly a high risk set up with an entry at 9250. the h4 has bounced off the upward trend line, which on my charts is at the low of 23/12, and 15/1. the last h4 has also closed above the 50% fib which is from the high of 14/1 and low of 8/1.

i call this high risk because the upward trending line is steep and there is lot of blue sky between the h4 upward trendline and the daily utl.
Hi coolshades think this might be the same trend line you have but like you said it is steep and a bit risky I'm looking and hoping to get a nice pullback to the 9000 area where we have had some previous support/resistance and if it gets there it should be an area to keep our eyes peeled on.
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  • #679
  • Jan 18, 2010 2:37am Jan 18, 2010 2:37am
I have a short order on the usdchf of the trend line, anyone else looking at this pair?
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  • #680
  • Jan 18, 2010 3:00am Jan 18, 2010 3:00am
just thought id put up a few stocks i have my eyes on as i help my dad trade the asx so i am always looking at the asx stocks. *australian stock exchange

Trying to stick to the method posted by dan on here.trying my best to learn it as i think its a great way to trade. but definitely helps by being patient and waiting for price to come to where you want it to and not rush in
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