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Trend Trading Chart Thread

  • #1,061
  • Apr 20, 2010 6:15am Apr 20, 2010 6:15am
pity this thread seems to be dying. hope peeps made some good pips off the recent usdchf upsurge and eurousd downsurge
  • #1,062
  • Apr 20, 2010 2:49pm Apr 20, 2010 2:49pm
Quoting coolshades
pity this thread seems to be dying. hope peeps made some good pips off the recent usdchf upsurge and eurousd downsurge
Yeah... not sure why! There's lots of trendy action going on out there... if anyone is taking advantage of it hopefully they might post a chart!!

I'll get it started... anyone else enjoying an AUD/USD buy at 0.9200? I wonder if we have the strength to make it to 0.9400 this time!?

Regards,

Dan
Attached Image (click to enlarge)
Click to Enlarge Name: AUD_USD_2010-04-20_2047.png Size: 31 KB
  • #1,063
  • Apr 20, 2010 4:01pm Apr 20, 2010 4:01pm
100 pips on au, 180 on euraud. right now flat.

quote=DanUK;3655154]Yeah... not sure why! There's lots of trendy action going on out there... if anyone is taking advantage of it hopefully they might post a chart!!

I'll get it started... anyone else enjoying an AUD/USD buy at 0.9200? I wonder if we have the strength to make it to 0.9400 this time!?

Regards,

Dan[/quote]
  • #1,064
  • Apr 20, 2010 4:15pm Apr 20, 2010 4:15pm
Quoting coolshades
100 pips on au, 180 on euraud. right now flat.

Good stuff.

Not sure if anyone saw the daily pin on USD/CAD yesterday? This is one I've been shorting for a while but I wasn't expecting it to drop as hard as it did today!!

I think EUR/AUD is my fav pair at the moment though! It's just dropping nice and steadily... I think I've made the most out of this pair so far in 2010.

Regards,

Dan
  • #1,065
  • Apr 21, 2010 1:00am Apr 21, 2010 1:00am
no i missed the trade. it was on my radar, but then work interfered and did not have the common sense to place a pending sell.

as your muse quoted once, common sense aint that common is it?

Quoting DanUK
Good stuff.

Not sure if anyone saw the daily pin on USD/CAD yesterday? This is one I've been shorting for a while but I wasn't expecting it to drop as hard as it did today!!

I think EUR/AUD is my fav pair at the moment though! It's just dropping nice and steadily... I think I've made the most out of this pair so far in 2010.

Regards,

Dan
  • #1,066
  • Apr 21, 2010 5:20am Apr 21, 2010 5:20am
Quoting coolshades
as your muse quoted once, common sense aint that common is it?
That's true! But it's usually in the last place you used it so you should be ok!

What about E/U... anyone take a short from the 1.3500 area?
  • #1,067
  • Apr 21, 2010 5:59am Apr 21, 2010 5:59am
moi is in a short from 3420.. combined a bit of a bpc trade and our usual trend line trade.

am going to let this run now till greece sinks into the water (but thats what i always say)

Quoting DanUK
That's true! But it's usually in the last place you used it so you should be ok!

What about E/U... anyone take a short from the 1.3500 area?
  • #1,068
  • Apr 21, 2010 5:22pm Apr 21, 2010 5:22pm
Hi Dan,
I think yours is one of the best forums on ff.


Yes I was in E/U very nice pips this week.
Came out at 1.3370 after the last rally.
Also in long US/CH.
Waiting for pull back to sell agian.
Are you staying in for the 1.3300?
Cheers Gary
  • #1,069
  • Apr 21, 2010 6:08pm Apr 21, 2010 6:08pm
Is anyone watching GU or USD/CAD?
I think it's safe to search for short entries on GU now that we have broken out of the sideways range. I didn't draw the round numbers on my chart but on GU the 50% is on 1.5600 and on USD/CAD the 50% is between 1.0100 and 1.0050.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCADH4.JPG Size: 61 KB
  • #1,070
  • Apr 22, 2010 3:46am Apr 22, 2010 3:46am
Quoting crazzypip
Hi Dan,
I think yours is one of the best forums on ff.


Yes I was in E/U very nice pips this week.
Came out at 1.3370 after the last rally.
Also in long US/CH.
Waiting for pull back to sell agian.
Are you staying in for the 1.3300?
Cheers Gary
Hi Gary,

Thank you!

I am still holding my shorts on E/U.

Regards,

Dan
  • #1,071
  • Apr 22, 2010 3:47am Apr 22, 2010 3:47am
Quoting Rustam
Is anyone watching GU or USD/CAD?
I think it's safe to search for short entries on GU now that we have broken out of the sideways range. I didn't draw the round numbers on my chart but on GU the 50% is on 1.5600 and on USD/CAD the 50% is between 1.0100 and 1.0050.
Hi Rustam,

I am watching G/U... although I am looking slightly higher at 1.5700 (horizontal support & resistance level).

I am currently holding USD/CAD shorts and I would like to see it move lower before adding any further.

Regards,

Dan
  • #1,072
  • Apr 22, 2010 5:41am Apr 22, 2010 5:41am
Quoting trade price
HEY buddy
how is ur trading going on?
Hi,

It's going good thanks - I'm taking it easy these days trading the dailies. Profits don't come so fast but it gives me much more free time which I like!!

Regards,

Dan
  • #1,073
  • Apr 22, 2010 6:03am Apr 22, 2010 6:03am
Anyone watching GBP/CHF? Possible short @ 1.645 as long as the trendline holds...

http://i41.tinypic.com/xvz82.jpg
  • #1,074
  • Apr 22, 2010 4:05pm Apr 22, 2010 4:05pm
Quoting Rustam
Anyone watching GBP/CHF? Possible short @ 1.645 as long as the trendline holds...
Hi Rustam,

Looks like that trendline broke! Could we be on our way up to 1.7? Looks interesting but not one I would want to put any money on right now!

Regards,


Dan
  • #1,075
  • Apr 22, 2010 5:17pm Apr 22, 2010 5:17pm
Quoting DanUK
Hi Rustam,

Looks like that trendline broke! Could we be on our way up to 1.7? Looks interesting but not one I would want to put any money on right now!

Regards,


Dan
Yea it has breached the trendline but not by much, if we get some kind of PA like a pin bar and price starts moving back down then I will probably still take a short. If it does however keep moving up then i'll look elsewhere for entries
  • #1,076
  • Apr 22, 2010 10:24pm Apr 22, 2010 10:24pm
Hi Dan

How would you normally place your horizontal S&R. Do you go by the numbers of touches? Also whether it acts as PPZ (coined by j16 thread)?
Some like to used the line charts & close price to place S&R.

From your charts i seem that most (if not all) of your S&R happens to fall around Round Nos... In this regard do you eyeballed the Round Nos on the chart & see if there is a PPZ.

From one of your earlier posts that you advocate newbies to focus on 1-2 pairs (using 4H timeframe) & build your pips slowly & steady. However would you still advocate the same plan if one is trading the Daily timeframe? How many pairs are you currently trading?

By the way i think you are a phenomenal trader & your results speak for itself. I would like to joined your dance bridgage

Pip Well
"Thinking Heart & Feeling Brain"
  • #1,077
  • Apr 23, 2010 2:10am Apr 23, 2010 2:10am
Quoting Sylar
Hi Dan

How would you normally place your horizontal S&R. Do you go by the numbers of touches? Also whether it acts as PPZ (coined by j16 thread)?
Some like to used the line charts & close price to place S&R.

From your charts i seem that most (if not all) of your S&R happens to fall around Round Nos... In this regard do you eyeballed the Round Nos on the chart & see if there is a PPZ.

From one of your earlier posts that you advocate newbies to focus on 1-2 pairs (using 4H timeframe) & build your pips slowly & steady. However would you still...
Hy Sylar,

Thanks! Compliments are always welcome! Lol!

I'll start with the easiest question first... for newbies trading dailies I would still recommend limiting to 1 or 2 pairs until you become familiar with the trading method and start to see some success. Once you are making the right decisions with 2 pairs that would be the time to consider adding another 1 or 2 pairs if desired.

Personally I watch about 20 pairs but I only trade the pairs that I really like the action on - to go for another J16 phrase "the A+ setups"! For example up until this year I haven't ever traded the EUR/AUD before but it's been great for quite a few short trades so far!

On to support & resistance... when I first started trading this way I used an indicator to plot all the round numbers. However I came to notice that not all areas gave the same sort of results. This is when I decided to refine my understanding of support and resistance.

My understanding of the "PPZ" idea is that it is a level that has been used as both support and resistance. If that is correct then yes I prefer levels that have been used as both.

In order to draw my s/r levels I zoom out as much as possible... right out to monthly charts and draw the levels that are really clear and obvious. I then drop down to weekly and do the same and then down to daily to tidy them up a bit. Generally I will plot the lines manually and then adjust them to the nearest round number. The most important thing about my s/r levels is choosing the major levels... I don't plot every single s/r level; I try to pick the ones that really work. You can usually tell by zooming out and picking the levels that seem to act as a barrier.

I hope that makes sense. I have posted some charts recently of the sort of levels I use (I think it was an E/U chart) however if you have a chart that you want me to look at please feel free to post and I will happily comment!

Regards,

Dan
  • #1,078
  • Apr 24, 2010 8:30pm Apr 24, 2010 8:30pm
Quoting DanUK
Hy Sylar,

Thanks! Compliments are always welcome! Lol!

I'll start with the easiest question first... for newbies trading dailies I would still recommend limiting to 1 or 2 pairs until you become familiar with the trading method and start to see some success. Once you are making the right decisions with 2 pairs that would be the time to consider adding another 1 or 2 pairs if desired.

Personally I watch about 20 pairs but I only trade the pairs that I really like the action on - to go for another...
Hi Dan,

What do you mean by A+ set up? is that the set up that has many confluence? or do you consider A setup as the level that has the major support and resistant?
And what is PPZ?
EUR is giving me nice profit this week, but im trading H4 so my profit is not as big as you.. overall my trading results has been in positive and negative and this month it give me break even result.. haha.. thats what i get from the first time im trading.. any advice Dan? maybe i have to be patient and wait for A+ set up but sometimes i confuse how to consider A+ set up..
  • #1,079
  • Edited 4:00am Apr 25, 2010 3:33am | Edited 4:00am
DanUK if you do not mind.........

carrot juice_yuli

These are terms mainly used in the James16 Thread............i struggle with finding what exactly an A+ Setups...to a point i stopped trying to figure it out.......on the other hand PPZ = Pivot Point Zones (also referred to as Support & Resistance Zones / Areas)......these PPZs are not looked at as S/R Lines but Zones / Areas, they also can be 40, 50, 70 or even 80 Pips in size..........see chart below for AUDCHF.....i have a PPZ between 0.9593 and 0.9559 wich as you can see is also acting as Support.......so i would move the top 0.9593 to the Round Number (RN) 0.9600 to be more comfortable of the bounce back up......................

A+ Setups...i think, are based on setting certain criteria for taking/exiting trades and when these criteria is/are met then you execute the trade/exit as set..........it is also possible to follow others criteria but obviously not blindly.

So, to me the Yellow Arrow on 29/03/2010 would be a BUY A+ Setup (Remember i said i struggle with these A+ Setups) for the following reasons:-
i.) Trend is UP
ii.) Support on PPZ
iii.) Support on RN
IV.) BUOB on PPZ & RN

Hope this helps carrot juice_yuli

Cheers

Quoting carrot_yuli
Hi Dan,

What do you mean by A+ set up? is that the set up that has many confluence? or do you consider A setup as the level that has the major support and resistant?
And what is PPZ?
EUR is giving me nice profit this week, but im trading H4 so my profit is not as big as you.. overall my trading results has been in positive and negative and this month it give me break even result.. haha.. thats what i get from the first time im trading.. any advice Dan? maybe i have to be patient and wait for A+ set up...
Attached Image (click to enlarge)
Click to Enlarge Name: audchf (4hr).gif Size: 22 KB
  • #1,080
  • Edited 4:03am Apr 25, 2010 3:41am | Edited 4:03am
Also on the same AUDCHF 4-hr Chart......you can evidently see another PPZ, let me draw it in Yellow, but this Zone / Area doe snot contain a RN...........personally i would not Sell because the Trend is UP but u never know especially if you know the FTA (First Troulbe Area {James16 Thread again}) when going CT (Counter Trend). Look how nice & lovely it works on BUYs..if you are patient..........cheers

carrot_yuli, you also mention PATIENCE............based on my little experience, if you NOT patient.....you have NO CHANCE of succeeding in this BUSINESS..........take it from....been there and had alot of heartaches.....and stress..............so please do not go down that road..learn to be PATIENCE................
Attached Image (click to enlarge)
Click to Enlarge Name: audchf (4hr).gif Size: 24 KB
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