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Trend Trading Chart Thread

  • #1,081
  • Apr 25, 2010 4:22am Apr 25, 2010 4:22am
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 but sometimes i confuse how to consider...
Hi,

Danku has given a pretty good answer (thanks Danku) but I thought I would just elaborate a little bit about the A+ setup thing.

In the J16 thread this is more about a confluence of factors and the quality of the price action setup (i.e. a good looking pin bar at a PPZ with some additional confluence, perhaps a fib level or trendline etc). However that is a little more complex than what I was really referring to.

What I meant was to choose setups that are really obvious. As we want to trade the trend, we want to trade a clear and obvious trend. If you have to search for the setup then the chances are you are looking for something that isn't there. If it's worth trading it should be really clear.

The best way to illustrate this is with a couple of charts. I have attached a chart of the EUR/AUD and a chart of the CHF/JPY. Which would you prefer to trade?

Regards,

Dan
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EA_2010-04-25.png Size: 39 KB
Click to Enlarge Name: CJ_2010-04-25.png Size: 36 KB
  • #1,082
  • Apr 25, 2010 5:54am Apr 25, 2010 5:54am
are you watching this too? in fact price has bounced off a good level.

Quoting DanUK
Hi,

Danku has given a pretty good answer (thanks Danku) but I thought I would just elaborate a little bit about the A+ setup thing.

In the J16 thread this is more about a confluence of factors and the quality of the price action setup (i.e. a good looking pin bar at a PPZ with some additional confluence, perhaps a fib level or trendline etc). However that is a little more complex than what I was really referring to.

What I meant was to choose setups that are really obvious. As we want to trade the trend, we want to trade a clear and obvious...
  • #1,083
  • Apr 25, 2010 3:20pm Apr 25, 2010 3:20pm
Quoting coolshades
are you watching this too? in fact price has bounced off a good level.
Hi Coolshades,

No it's not one I normally watch. A quick glance at the charts though and I wonder if 1.2800 will be the decider. I reckon it's a long off 1.2800 or if it breaks 1.2800 we could be seeing a trend change. That's just a quick glance though!

What do you think?

Regards,

Dan
  • #1,084
  • Apr 26, 2010 6:04am Apr 26, 2010 6:04am
Quoting crazzypip
Hi Dan,
I think yours is one of the best forums on ff...
Totally agreed

Am a Jacko's turtle but i think you definitely make trend trading a LOT clearer. Glad to be able to learn from both of U.

Hmmm since Jacko's have his turtle would you consider starting your own trading group... already have a name for them i.e. Dan's Dance Trooper

So Commander here's your 1st Trooper reporting for trading

As a commander i know you take a more strategic view (i.e. Daily) on trading however as troopers we would be appreciate it if you could offer some tactical advise (i.e. 4H) on our trading battles too


Pip Well
Sylar aka Trooper No 1
"Thinking Heart & Feeling Brain"
  • #1,085
  • Apr 26, 2010 12:28pm Apr 26, 2010 12:28pm
Quoting DanUK
Hi Coolshades,

No it's not one I normally watch. A quick glance at the charts though and I wonder if 1.2800 will be the decider. I reckon it's a long off 1.2800 or if it breaks 1.2800 we could be seeing a trend change. That's just a quick glance though!

What do you think?

Regards,

Dan
Hi Dan

I'm a Jacko Fellower

and now I'm starting to follow your thread

...where no one has gone before...swiiishhh(StartTrek)
Account deleted
  • #1,086
  • Apr 26, 2010 1:28pm Apr 26, 2010 1:28pm
Quoting Sylar
Totally agreed

Am a Jacko's turtle but i think you definitely make trend trading a LOT clearer. Glad to be able to learn from both of U.

Hmmm since Jacko's have his turtle would you consider starting your own trading group... already have a name for them i.e. Dan's Dance Trooper

So Commander here's your 1st Trooper reporting for trading

As a commander i know you take a more strategic view (i.e. Daily) on trading however as troopers we would be appreciate it if you could offer some tactical advise (i.e. 4H) on our...


I'm glad I've been able to help... although I think the Dance Commander may have influenced you too much! Lol!

Hmmm... my own trading group? Sounds very grand but I don't really know what I would be able to offer!

So, Trooper No 1 - what do you see on the horizon trade-wise at the moment? I’m waiting for E/U to break down below 1.3300.

I'm still happy to offer any help/advice that I can regarding H4 trades even though I am a "daily" man now!

Regards,

Dan
  • #1,087
  • Apr 26, 2010 2:41pm Apr 26, 2010 2:41pm
Quoting swissforex
Hi Dan

I'm a Jacko Fellower

and now I'm starting to follow your thread

...where no one has gone before...swiiishhh(StartTrek)
Hi Swiss,

To boldly go...

Anyone who quotes Star Trek is welcome here!

I see you are from Switzerland... how do you like the country? I must admit I have never been there but I here very good things and from an outside perspective your political system seems to be much more democratic than others in the European area. Politics is my first love so any light you can shed on the Swiss system is welcome!

Anyway, glad you found your way here... hopefully we can be of some assistance to you on your quest to seek out new life and... err I mean forex riches!

Regards,

Dan
  • #1,088
  • Apr 26, 2010 3:23pm Apr 26, 2010 3:23pm
Hey Dan, I'm also watching EU but im looking for a pullback to 1.35 before going short(probably not going to happen), I can't see why you're targeting the 1.33 level tho, were you looking for a breakout of the previous double bottom?

http://i39.tinypic.com/ka60sz.jpg

I'm still watching 1.555 on G/U, 1.5 on EUR/AUD and 0.87 on E/G(not the best).

Also, E/J is forming a triangle just now with an overall downward bias, do you look for shorts in a situation like this or do you avoid it?

http://i42.tinypic.com/14t4y8n.jpg
  • #1,089
  • Apr 26, 2010 4:35pm Apr 26, 2010 4:35pm
Quoting DanUK


So, Trooper No 1 - what do you see on the horizon trade-wise at the moment? I’m waiting for E/U to break down below 1.3300.

I'm still happy to offer any help/advice that I can regarding H4 trades even though I am a "daily" man now!

Regards,

Dan
Hi Commander

I am on the prowl to ambush EU when he comes into my target of 1.3450-1.3500 region.

Refer to my attached chart

Pip Well
Trooper No. 1
Attached Image (click to enlarge)
Click to Enlarge Name: EU-4H.jpg Size: 105 KB
"Thinking Heart & Feeling Brain"
  • #1,090
  • Apr 27, 2010 1:55am Apr 27, 2010 1:55am
dan will you load shorts in the 4500 region again?
  • #1,091
  • Apr 27, 2010 2:15am Apr 27, 2010 2:15am
Quoting Rustam
Hey Dan, I'm also watching EU...
Hi Rustam,

I think the best way to answer is to post your questions and my thoughts below...

Hey Dan, I'm also watching EU but im looking for a pullback to 1.35 before going short(probably not going to happen), I can't see why you're targeting the 1.33 level tho, were you looking for a breakout of the previous double bottom?

Agreed. If the EU makes it back up there that is where I would be looking to sell from. As it happens I already have a short on from 1.35 hence why I am looking for 1.33 to break - to add to my position.

I'm still watching 1.555 on G/U, 1.5 on EUR/AUD and 0.87 on E/G(not the best).

I can see what you are thinking on G/U and E/G but I'm not sure why 1.5 on E/A - perhaps you could post a chart?

Also, E/J is forming a triangle just now with an overall downward bias, do you look for shorts in a situation like this or do you avoid it?

Although I do not currently have any trades on E/J my chart shows something similar to what you are suggesting so I think if it were me I would look for some kind of price action (pin bars etc) to give me a confirmation/entry signal. So I suppose my answer is no I don't avoid that kind of thing! The longer I trade the more I realise that technical analysis is done best as a whole kind of chart reading thing... looking at all the angles to give you all the information you need in order to make your trading decision. Always done best in the direction of the trend!

Hope that helps!

Regards,

Dan
  • #1,092
  • Apr 27, 2010 2:18am Apr 27, 2010 2:18am
Quoting Sylar
Hi Commander

I am on the prowl to ambush EU when he comes into my target of 1.3450-1.3500 region.

Refer to my attached chart

Pip Well
Trooper No. 1
Good work Trooper! Hold your position and let your prey come to you!

Regards,

Dan
  • #1,093
  • Apr 27, 2010 2:21am Apr 27, 2010 2:21am
Quoting coolshades
dan will you load shorts in the 4500 region again?
Hi Coolshades,

As it happens I have a short on from 1.4600 so I won't be adding at 1.4500 this time. However if I didn't have that trade on I would consider 1.4500 to be a good place to add.

Are you trading EUR/AUD at the moment?

Regards,

Dan
  • #1,094
  • Apr 27, 2010 2:44am Apr 27, 2010 2:44am
yes. last wk had a good short from 4500 which netted me about 190 pips. looking to reload again.

will also be looking to enter short on ucad around the 0060 area.

Quoting DanUK
Hi Coolshades,

As it happens I have a short on from 1.4600 so I won't be adding at 1.4500 this time. However if I didn't have that trade on I would consider 1.4500 to be a good place to add.

Are you trading EUR/AUD at the moment?

Regards,

Dan
  • #1,095
  • Apr 27, 2010 4:23am Apr 27, 2010 4:23am
Hi mates

at this stage ..

I'm reading and learning
reading and learning
reading and learning
reading and learning

there's a lot to learn from you about chart analysis

Peace and Prosperity

sorry..I mean " Pips and Prosperity"
Account deleted
  • #1,096
  • Apr 27, 2010 7:35am Apr 27, 2010 7:35am
Sorry, the level for EUR/AUD was meant to be 1.445, not 1.5. It was reached earlier but price only went past it by about 30 pips before coming back so i didn't take it.

I have a pending short order on GBP/CHF at 1.645....hopefully I'm not the only one
http://i42.tinypic.com/ht8thf.jpg
  • #1,097
  • Apr 27, 2010 11:55am Apr 27, 2010 11:55am
euro shorts and audusd long at 9200 anyone?
  • #1,098
  • Apr 27, 2010 1:47pm Apr 27, 2010 1:47pm
Quoting Rustam
Sorry, the level for EUR/AUD was meant to be 1.445, not 1.5. It was reached earlier but price only went past it by about 30 pips before coming back so i didn't take it.

I have a pending short order on GBP/CHF at 1.645....hopefully I'm not the only one
Hi Rustam,

I can see your thinking on GBP/CHF but I don't quite understand what you meant on the possible EUR/AUD trade. What did you mean about it only going past by 30 pips so you didn't take it?

Regards,

Dan
  • #1,099
  • Apr 27, 2010 1:54pm Apr 27, 2010 1:54pm
Quoting coolshades
euro shorts and audusd long at 9200 anyone?
Hi Coolshades,

This is my 1000th post! :nerd:

EU shorts... yes!

AU long... not at the moment! We have major support at 0.9300 and it is just proving too much to break at present. I have taken an experimental short after a serious of lower highs and yesterday's pin-like bar. The trade has started well and assuming I have got this one right I will be looking to 0.9000 and perhaps 0.8800.

Of course things could all change tomorrow but that is how I see it today!

Regards,

Dan
  • #1,100
  • Apr 27, 2010 2:41pm Apr 27, 2010 2:41pm
ok, coincidentally i was thinking of taking a speculative aud short if daily closes below trendline. attached daily chart shd explain what i mean.

others on my watch list are - usdcad possible sell at 1.0220

Quoting DanUK
Hi Coolshades,

This is my 1000th post! :nerd:

EU shorts... yes!

AU long... not at the moment! We have major support at 0.9300 and it is just proving too much to break at present. I have taken an experimental short after a serious of lower highs and yesterday's pin-like bar. The trade has started well and assuming I have got this one right I will be looking to 0.9000 and perhaps 0.8800.

Of course things could all change tomorrow but that is how I see it today!

Regards,

Dan
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_daily_apr2010.png Size: 29 KB
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