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Trend Trading Chart Thread

  • #681
  • Jan 18, 2010 6:44am Jan 18, 2010 6:44am
Hi Bez,

Looking at it certainly, getting into the trade? maybe not, I see a particular factor that indicates higher lows just ahead. You could get into this short at 1.0250 for a 50-80 pip trade and come out as it approaches the lower TL or wait and see what happens when it reaches the lower trendline.

Good for a short trade I think, long term? possibly go through the 1.0250 and continue with the bigger move down.
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  • #682
  • Jan 18, 2010 6:48am Jan 18, 2010 6:48am
Quoting DanUK
I am short G/U from 1.6300
I thought you said in the previous post that GU is ranging so you didn't consider to put any position?
I'm short GU @ 1.6300 too from friday and still hold the position now because the Daily bar still convincing enough as it is bearish engulfing bar
  • #683
  • Jan 18, 2010 7:14am Jan 18, 2010 7:14am
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...
Good idea Dan! But i think its better to stick with the currency pairs that is trending more..
  • #684
  • Jan 18, 2010 9:23am Jan 18, 2010 9:23am
anyone looking at UJ ? On the weekly (yeah I know too high of a TF) , there is a bounce off the TL and a bounce off the 50% retrace. The point marked as Pivot is the 50% retrace.
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  • #685
  • Jan 18, 2010 9:57am Jan 18, 2010 9:57am
I missed this trade on the USD/JPY when it set up nicely on the daily, hitting the trendline for the third time on the 7th January, here it hit the 50% fib and a nice round number, I would have entered at 93.00 where all three barriers were nicely placed.

I use the 4 hour to trade from, and the daily for direction, in this case the daily would have been the deciding factor in my entry, with a possible move to 89.50 if not 89.00.

I was unable to determine the timescale used on the chart you posted, however, selling is the right direction at this point.
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  • #686
  • Jan 18, 2010 10:00am Jan 18, 2010 10:00am
Oops! just noticed you stated a weekly chart, that clears that point up. Weekly charts are not something I have looked at, I only go as far out as the daily, and then it's only to determine direction.
  • #687
  • Jan 18, 2010 10:27am Jan 18, 2010 10:27am
Quoting Xj8
Oops! just noticed you stated a weekly chart, that clears that point up. Weekly charts are not something I have looked at, I only go as far out as the daily, and then it's only to determine direction.
Xj8, I am looking at weekly cause, I did missed the daily trades. Just walked onto this thread following some conversations from jacko's thread.


Plus, there is one more impending issue of my day job which doesnt allow me to trade 4hr charts cause I am away for 10-12 hrs which means i miss three out of six 4hr bars.

I have taken this trade on demo and want to see if I can scale in to make a bigger kill (wishful thinking) . So, a bigger SL.

@Dan, whats your thought on this trade?
  • #688
  • Jan 19, 2010 1:47am Jan 19, 2010 1:47am
i dont see any pairs currently suited for any kind of set up. the common pairs i mean.
  • #689
  • Jan 19, 2010 2:01am Jan 19, 2010 2:01am
like a few here i did get into gu. looks like A/H strategy may need to be deployed as my 200pip stop has nearly been hit.
  • #690
  • Jan 19, 2010 3:16am Jan 19, 2010 3:16am
Quoting DanUK
I am short G/U from 1.6300

Just popping out for an hour - will post a chart when I'm back

Dear Dan,

Since your "system" is based on Jacko's, would you consider and A-H trade on the GU? Or since it broke the 4h/daily tendline would you consider that it's in uptend so no A-H on this one?

Thanks...
  • #691
  • Jan 19, 2010 3:37am Jan 19, 2010 3:37am
Quoting laranja
Dear Dan,

Since your "system" is based on Jacko's, would you consider and A-H trade on the GU? Or since it broke the 4h/daily tendline would you consider that it's in uptend so no A-H on this one?

Thanks...
This is something i am not sure of as well. The basic strategy is to use AH if a trade fails to get back in with the trend. But as you can see from my chart i am not sure if this is now a short term long... Any insight would be great.
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  • #692
  • Jan 19, 2010 4:06am Jan 19, 2010 4:06am
USD-CHF testing 1.0300 area.
  • #693
  • Jan 19, 2010 4:26am Jan 19, 2010 4:26am
Quoting laranja
Dear Dan,

Since your "system" is based on Jacko's, would you consider and A-H trade on the GU? Or since it broke the 4h/daily tendline would you consider that it's in uptend so no A-H on this one?

Thanks...
Hi,

No I would not A-H this trade as G/U is not really trending - I only use the A-H strategy when we are in a clear trend.

In this particular case it was not entirely clear whether or not the level would hold so it was a risky entry. I decided to tighten my stop loss when price was unable to get past the rising H4 trendline so I came out without any pips this time around!

I see I missed quite a few posts yesterday - I will have a read through a little later today and answer anything that I can help with!

Regards,

Dan
  • #694
  • Jan 19, 2010 5:10am Jan 19, 2010 5:10am
Quoting Brixton
USD-CHF testing 1.0300 area.
I am watching this area with interest, i notices strong resistance on the Daily near trend line and 50% fib in a downward trend. Will wait to see if it drops below 1.0300.
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  • #695
  • Jan 19, 2010 8:31am Jan 19, 2010 8:31am
1.03 of interest

Quoting bez3000
I am watching this area with interest, i notices strong resistance on the Daily near trend line and 50% fib in a downward trend. Will wait to see if it drops below 1.0300.
  • #696
  • Jan 19, 2010 10:49am Jan 19, 2010 10:49am
Weekly TL didn't hold. Im surprised.
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  • #697
  • Jan 19, 2010 12:10pm Jan 19, 2010 12:10pm
Anyone considering a short on USDCAD? Seems to be beginning to show resistance @ TL.
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  • #698
  • Jan 19, 2010 12:15pm Jan 19, 2010 12:15pm
Quoting alter
Weekly TL didn't hold. Im surprised.
Don't worry about it. I went short on USDCHF, but had mis-drawn my TL and have been stopped out by 3 pips, pair now look like it could be turning short.
  • #699
  • Jan 19, 2010 12:38pm Jan 19, 2010 12:38pm
Quoting jcalow
Anyone considering a short on USDCAD? Seems to be beginning to show resistance @ TL.
In @ 1.0300 Round Number
  • #700
  • Jan 19, 2010 12:46pm Jan 19, 2010 12:46pm
on my radar too, however i will want the h4 bar to close below the 50% fib. my 50% fib is at 1.0315 and is from high of 13/1 and low of 14/1.
so wait and watch currently.



Quoting jcalow
Anyone considering a short on USDCAD? Seems to be beginning to show resistance @ TL.
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