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DanUK Trend Trading Journal 2010

  • #141
  • Mar 11, 2010 4:14pm Mar 11, 2010 4:14pm
Quoting Knight Rider
I don't normally play this pair, but if I did it would be 50 pips higher. Now I've said that it will probably hit the EMA50 and reverse back.

I don't know what Dan would do, but that is what I would consider a play. I think the JPY/USD and AUD/USD could be EXCELLENT plays in the near future.

Best,

Knight Rider
Hi Bez
Re Eur/Aud, I agree 1.5 is a "point of interest" (as Dan would say) due to confluence of factors (50% fib, round number and internal trendline). I do agree with KR that PA could "pull" above this initially if TL acts as a draw...just depends how quickly/slowly price moves to get there. We shall see. My chart/analysis below. Cheers mitch
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.png Size: 43 KB
  • #142
  • Mar 11, 2010 7:18pm Mar 11, 2010 7:18pm
Quoting bez3000
Is anyone looking at EURAUD? I am thinking short at 15000.
Yes im looking at that price too, big round number and a lot of confluence
  • #143
  • Mar 12, 2010 1:19am Mar 12, 2010 1:19am
Hi guys - can you enlighten me as to why the 1.3800 is seen as a potential entry (continuation) point as I cannot see the obvious technical basis for it! Cheers in advance (newbie-ish!)
  • #144
  • Mar 12, 2010 2:43am Mar 12, 2010 2:43am
Sorry guys - please ignore my last post re: the 1.3800 potential reversal level. Just did my homework - and raised my grade from a D -

Cheers
  • #145
  • Mar 12, 2010 3:21am Mar 12, 2010 3:21am
Quoting Kneath
Sorry guys - please ignore my last post re: the 1.3800 potential reversal level. Just did my homework - and raised my grade from a D -

Cheers
Still watching EUR/USD - anybody see any other set ups with the pairs - Bez?
  • #146
  • Mar 12, 2010 3:30am Mar 12, 2010 3:30am
i am currently long on cable from 5050. i think this thread and dan's other thread is in serious danger of dying out due to lack of regular posters.

Quoting Knight Rider
Still watching EUR/USD - anybody see any other set ups with the pairs - Bez?
  • #147
  • Mar 12, 2010 3:39am Mar 12, 2010 3:39am
Quoting coolshades
i am currently long on cable from 5050. i think this thread and dan's other thread is in serious danger of dying out due to lack of regular posters.
I hope not.
  • #148
  • Mar 12, 2010 3:41am Mar 12, 2010 3:41am
Quoting coolshades
i am currently long on cable from 5050. i think this thread and dan's other thread is in serious danger of dying out due to lack of regular posters.
What's your target area?
  • #149
  • Mar 12, 2010 4:07am Mar 12, 2010 4:07am
Still long AUDUSD until 9200.
Looking for EURAUD @ 15000 for short today.
Interested in GBPUSD @15200 short.

Still learning to have patience at the moment :-)

Quoting Knight Rider
Still watching EUR/USD - anybody see any other set ups with the pairs - Bez?
  • #150
  • Mar 12, 2010 4:09am Mar 12, 2010 4:09am
no target. use the manual move of 100 pip sl that dan uses. why i went long, below, h4.



Quoting Knight Rider
What's your target area?
Attached Image
  • #151
  • Mar 12, 2010 4:53am Mar 12, 2010 4:53am
Quoting coolshades
no target. use the manual move of 100 pip sl that dan uses. why i went long, below, h4.
I see. Thank you. If I were using a stop loss it would be at least 50 pips against the trend and 100 with the trend (long term). This is just my view though.

You nailed it Bez. It is all about patience. I am looking at GBP also. Twice the risk though (I want to get into the "trendy Eur" again. My entry is hopefully not too far above yours for the short.

Knight Rider
  • #152
  • Mar 12, 2010 5:01am Mar 12, 2010 5:01am
Quoting bez3000
Still long AUDUSD until 9200.
Looking for EURAUD @ 15000 for short today.
Interested in GBPUSD @15200 short.

Still learning to have patience at the moment :-)
I think the AUD/USD will be a fantastic short as some point. I'm looking at this pair closely too.
  • #153
  • Mar 12, 2010 5:13am Mar 12, 2010 5:13am
Just read large buyer in the market at 1.39 weekly. Whether true or not, this pair has some support. Will it go to 1.39? who knows? The market does tend to "feed" where the money is (and where the stops are), but I am a seller above 1.38.
  • #154
  • Edited 6:05am Mar 12, 2010 5:44am | Edited 6:05am
Quoting DanUK
... I think it’s more like this…
1. Horizontal S/R levels at a round number
2. 50% retracement at the closest round number
4. Touch of diagonal trendline at the closest round number
5. Bar formation at the above
Nothing wrong with an MA to help gauge the trend however my preferred analysis is higher highs/lows / lower highs/lows. I prefer to watch these swings on a daily chart and they tend to be a pretty reliable way to gauge the trend....
Dan, your thread was recommended to me by my old trading mate Baz. I've been away for almost a year due to other commitments but am back here at FF to learn more from consistent traders like you.

I like your simplistic yet effective approach to trading and its more reassuring to see the impressive result of your approach reflected in your trading log.

When price reaches an area of interest ...

1) which timeframe do you need to witness a reversal on, before placing an order at the closest round number?
2) how far away does your round number order tend to be? - if (for example only), GU is turning bearish at around 1.5520, would you look to sell at 1.55 or would you take a more cautious approach and sell at 1.5450?
3) What pairs to you feel are providing the best trending opportunities recently?

Thanks for sharing here Dan.

Cheers,
Rob
  • #155
  • Mar 12, 2010 8:02am Mar 12, 2010 8:02am
I've had enough of this (like watching paint dry - options expiry) - entered trade (short) at 138.50 and 152.50 respectively - we'll see which one takes the bait!

Back to the "dibs" thread - there's a few "pirannahs" over there!
  • #156
  • Mar 12, 2010 9:10am Mar 12, 2010 9:10am
Quoting coolshades
i am currently long on cable from 5050. i think this thread and dan's other thread is in serious danger of dying out due to lack of regular posters.
no way.. Dan still has you the regular poster
  • #157
  • Mar 12, 2010 9:39am Mar 12, 2010 9:39am
well, i hope not. if its left to dan and me alone to do the tango every day, then people will start talking

Quoting carrot_yuli
no way.. Dan still has you the regular poster
  • #158
  • Mar 12, 2010 10:21am Mar 12, 2010 10:21am
I am sure we can keep this thread going, i think its a great place to visit and discuss trades with some good traders (i hope to be one of them some day) :-)

Quoting coolshades
i am currently long on cable from 5050. i think this thread and dan's other thread is in serious danger of dying out due to lack of regular posters.
  • #159
  • Mar 12, 2010 11:06am Mar 12, 2010 11:06am
Have been lurking for a few weeks just to see what was what.

Was following Jacko until it turned.... ummmm what the word?

Silly? I will be jumping in as I can.
  • #160
  • Mar 12, 2010 11:43am Mar 12, 2010 11:43am
Short on cable 1.5200, sl 5300, first target 1.5030 probably way off!
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