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Trend Trading Chart Thread

  • #721
  • Jan 20, 2010 8:50am Jan 20, 2010 8:50am
Just skimming my way through the 4 hour charts and came across one that looks a neat area for entering long. 50% retrace from the latest move up and round number at 0.7200, historical data shows reactions around this number, could be worth watching this one.

The TL you see is just a subjective one and was taken from 9th March 2009 to the most recent low 22nd Dec 2009 using a daily chart.
Attached Image (click to enlarge)
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  • #722
  • Jan 20, 2010 9:03am Jan 20, 2010 9:03am
Dan, coolshades and anyone who would like to give an opinion are welcome to comment.
I have attached some of my charts and marked areas i think could be of interest with blue boxes, if price makes these areas and is rejected i think may be worth trading.
All comments are welcome.
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Click to Enlarge Name: eurusd.JPG Size: 114 KB
Click to Enlarge Name: audusd.JPG Size: 117 KB
Click to Enlarge Name: euraud.JPG Size: 121 KB
Click to Enlarge Name: usdcad.JPG Size: 135 KB
  • #723
  • Jan 20, 2010 9:07am Jan 20, 2010 9:07am
coincidentally was looking at the bleeding same! current price also acted as a strong support around 4th jan.

Quoting Xj8
Just skimming my way through the 4 hour charts and came across one that looks a neat area for entering long. 50% retrace from the latest move up and round number at 0.7200, historical data shows reactions around this number, could be worth watching this one.

The TL you see is just a subjective one and was taken from 9th March 2009 to the most recent low 22nd Dec 2009 using a daily chart.
  • #724
  • Jan 20, 2010 9:13am Jan 20, 2010 9:13am
This is another area of interest, although I see nothing other than a weakish support area, price tends not to close below 128.8 but has pushed considerably further, I can't place any decent fib there that would support a buy here. I would expect 127.0 as the next target area for a probable buy, just another area to keep our eyes on. The only problem I have here is, yet again the lack of a 50% fib for support.

I'm just thinking aloud here, feel free to chip in your reasons to buy or not.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20th jan eurjpy daily.jpg Size: 101 KB
Click to Enlarge Name: 20th jan eurjpy 4hr.jpg Size: 97 KB
  • #725
  • Jan 20, 2010 9:13am Jan 20, 2010 9:13am
Quoting Xj8
Just skimming my way through the 4 hour charts and came across one that looks a neat area for entering long. 50% retrace from the latest move up and round number at 0.7200, historical data shows reactions around this number, could be worth watching this one.

The TL you see is just a subjective one and was taken from 9th March 2009 to the most recent low 22nd Dec 2009 using a daily chart.
Thats a strong bearish move going on look's like it's heading down to the 0.7050 area.
  • #726
  • Jan 20, 2010 9:29am Jan 20, 2010 9:29am
My thoughts on this pair tend to favour a sell in the 1.0450/80 area, my last two posts gave areas with no possitive areas for a trade, this pair looks a stronger probability. We have a nice inner daily trendline along with a round number close to the 50% fib retrace. I'll be looking to see just how much resistance this tends to give before committing any hard cash in a bid to sell.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20th jan usdchf daily.jpg Size: 90 KB
Click to Enlarge Name: 20th jan usdchf 4 hour chart.jpg Size: 94 KB
  • #727
  • Jan 20, 2010 9:34am Jan 20, 2010 9:34am
Quoting castlerock
Thats a strong bearish move going on look's like it's heading down to the 0.7050 area.
Always a possibility, if the TL fails to hold, then I would expect it to make its way back down to the next support level at 0.7000 to 0.7050.
  • #728
  • Jan 20, 2010 9:35am Jan 20, 2010 9:35am
watching same pair and price/place.

i did have a long on this from 0250 ish which i closed for 100 pts, but that was off a different system.

Quoting Xj8
My thoughts on this pair tend to favour a sell in the 1.0450/80 area, my last two posts gave areas with no possitive areas for a trade, this pair looks a stronger probability. We have a nice inner daily trendline along with a round number close to the 50% fib retrace. I'll be looking to see just how much resistance this tends to give before committing any hard cash in a bid to sell.
  • #729
  • Jan 20, 2010 10:22am Jan 20, 2010 10:22am
Quoting DanUK
Hi Vicky,

I think the 93.00 area was a good place to look for a sell entry so I agree with your direction/trade bias.

I don't really look to the weekly chart for trades so I am not qualified to suggest too much but I don't see why you couldn't trade this method on the weekly - it will just be a lot slower (not a bad thing) and you will need a bigger stop size.

I also am not a position scaler - I'm sure it can be done with some effect but for me it's too complicated! I like to keep things simple!

Have you tried trading the daily timeframe?...
Dan , I just found your thread abt a day or two ago while skimming through Jacko's thread. I havent tried trading this on daily. I will try for sure if I can find a setup which looks gud.

BTW, while looking at trades on daily should we include the confluence of the fibs (50%) with the TL ?? Or are we looking at just TLs to trade off?
  • #730
  • Jan 20, 2010 10:29am Jan 20, 2010 10:29am
I would ideally be looking for a buy, but there seems an opportunity to sell to the lower TL, not that I'm going to, just looked a reasonable place for a quick sell.
Attached Image (click to enlarge)
Click to Enlarge Name: 20th jan audcad daily chart.jpg Size: 88 KB
  • #731
  • Jan 20, 2010 10:34am Jan 20, 2010 10:34am
bez3000
I think your charts are accurate if (and I don't know enough to comment) we are not still in continuation of measured moves(dn/up). There should be a bounce point somewhere, is it here?
  • #732
  • Jan 20, 2010 10:47am Jan 20, 2010 10:47am
Quoting jcalow
Quite a bit of movement today, many of the pairs I watch have broken their TLs. Closed my previous order on this pair last night in the region of 149.00. Turned out to be a good plan. Waiting to see if this TL holds/what price action does for another buy.
Had a busy day working and actually missed the entry on this one in the end. However, seems to be working out quite nicely.
  • #733
  • Jan 20, 2010 10:52am Jan 20, 2010 10:52am
Quoting jcalow
Quite a bit of movement today, many of the pairs I watch have broken their TLs. Closed my previous order on this pair last night in the region of 149.00. Turned out to be a good plan. Waiting to see if this TL holds/what price action does for another buy.
Good work. I was also on this one today!
  • #734
  • Jan 20, 2010 1:28pm Jan 20, 2010 1:28pm
could either of you put up a chart on this? cant see an entry on my h4 charts.

Quoting Brixton
Good work. I was also on this one today!
  • #735
  • Jan 20, 2010 4:00pm Jan 20, 2010 4:00pm
am going long on this. beautiful bullish engulfing bear on h4, off the 50% fib on your chart.

Quoting Xj8
Just skimming my way through the 4 hour charts and came across one that looks a neat area for entering long. 50% retrace from the latest move up and round number at 0.7200, historical data shows reactions around this number, could be worth watching this one.

The TL you see is just a subjective one and was taken from 9th March 2009 to the most recent low 22nd Dec 2009 using a daily chart.
  • #736
  • Jan 20, 2010 4:30pm Jan 20, 2010 4:30pm
I'm looking at taking a short on USDCAD, subjective TL, but an exact two bar high off of the longer term 50% fib. Will see if the next 4hr bar closes short and then maybe go on a break of that or nearest round number.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 28 KB
  • #737
  • Jan 20, 2010 4:35pm Jan 20, 2010 4:35pm
Quoting coolshades
am going long on this. beautiful bullish engulfing bear on h4, off the 50% fib on your chart.
Looks good, not quite a engulfing bar on my brokers charts yet, but the current one looks like it could end up being one.
  • #738
  • Jan 21, 2010 12:51am Jan 21, 2010 12:51am
on my charts fxdd-mt4, its a very nice double bottom.

i am staying off usdcad, since i am exposed to $ now on two trades.

Quoting jcalow
Looks good, not quite a engulfing bar on my brokers charts yet, but the current one looks like it could end up being one.
Attached Image (click to enlarge)
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  • #739
  • Jan 21, 2010 5:17am Jan 21, 2010 5:17am
not going so well, so wait and watch. am in a short on cable and gbpjpy so overall am comfortable.

Quoting coolshades
on my charts fxdd-mt4, its a very nice double bottom.

i am staying off usdcad, since i am exposed to $ now on two trades.
  • #740
  • Jan 21, 2010 8:30am Jan 21, 2010 8:30am
Not a lot of movement either way on my USDCAD trade. However the daily is forming a big pin bar, which is a good sign. Posted from my PDA as I am at university today.
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