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Trend Trading Chart Thread

  • #1,101
  • Apr 27, 2010 5:47pm Apr 27, 2010 5:47pm
Thanks for the reply Dan,
Congrats on your 1000 posts!!! Do ff give out prizes?


Regarding your E/U short trades, Are you moving your SL on each move down
or do they stay in the same place, also are they over 100 pips?

Would you take any profit at say 1.3100 and leave some running?

Ive also been watching A/U lower lows. could be a new down trend maybe!

I think Jacko should be watching you trade!!!
Best regards CP
  • #1,102
  • Apr 28, 2010 2:33am Apr 28, 2010 2:33am
Quoting DanUK
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......
Hi Dan

I live in SW and work in Italy

Switzerland is a calm place,a calm country,calm people

very calm

maybe too calm for humans,not for me (I'm not human)

It's a good place for a stressed Trader

NOW

I'm gonna try to be serious

I'm following a possible entry on EURJPY on the close of the next candle
H4 TF
my GMT zone is +2

your thoughts??
Account deleted
  • #1,103
  • Apr 28, 2010 3:28am Apr 28, 2010 3:28am
Quoting coolshades
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
Hi Coolshades,

Agreed - I see major s/r level in the 1.02 - 1.03 area. It's another one of those areas that if it holds it's a short but if it breaks I will look to the long side.

Regards,

Dan
  • #1,104
  • Apr 28, 2010 3:37am Apr 28, 2010 3:37am
Quoting crazzypip
Thanks for the reply Dan,
Congrats on your 1000 posts!!! Do ff give out prizes?


Regarding your E/U short trades, Are you moving your SL on each move down
or do they stay in the same place, also are they over 100 pips?

Would you take any profit at say 1.3100 and leave some running?

Ive also been watching A/U lower lows. could be a new down trend maybe!

I think Jacko should be watching you trade!!!
Best regards CP
Hi CP,

Thanks for the compliment although I have a long way to go before I am as good as Jacko!

I do trail my stop still but I no longer use a fixed 100 pip stop loss. The reason is not because that was a bad strategy it is just that my trading has changed slightly in that I am now looking to hold onto my positions for as long as strategically possible.

This does mean my stop is normally held two or three hundred pips away but it is done so in order to give my trades breathing room and so far is working very well. As my trading has become a little more discretionary I may also choose to close a trade early or tighten my stop loss as and when the situation calls for it.

I don't tend to take partial profits... not necessarily out of choice - just trying to keep things simple really. However "Strat" (who you may know... a very experienced trader who teaches at Forex Factory) advocates taking partial profits in order to satisfy the "fear and greed" element of holding a long term trade. To me that sounds like the best reason to take partial profits if the psychological aspect of holding a trade causes issues.

Hope that makes some sense!

Regards,

Dan
  • #1,105
  • Apr 28, 2010 3:51am Apr 28, 2010 3:51am
Quoting swissforex
Hi Dan

I live in SW and work in Italy

Switzerland is a calm place,a calm country,calm people

very calm

maybe too calm for humans,not for me (I'm not human)

It's a good place for a stressed Trader

NOW

I'm gonna try to be serious

I'm following a possible entry on EURJPY on the close of the next candle
H4 TF
my GMT zone is +2

your thoughts??
Hi,

Sounds like a nice place. I reckon I will have to visit in the not too distant future.

EUR/JPY - Whilst this is not a typical trend trade I see it as a breakout below a short term upward trend line with a support/resistance zone in the 123 - 123.50 area. On my chart I have an H4 pin bar appeared piercing that s/r level so it looks like a reasonable place to short below.

I do think it is in the right direction too which is the main thing!

Regards,

Dan
  • #1,106
  • Apr 28, 2010 4:26am Apr 28, 2010 4:26am
Commander

In view of the recent financial hailstorm brewing over in Europe region there is a change in tactical battle plan

Potential target area are:

1) EU - Looking for PA to retrace to 1.3300 to 1.3350 for SHORT

2) GU - Looking to BUY @ 1.5150 (50%fib of recent swing + RN + S&R)

3) NU - Looking to BUY @ 0.71 (50%fib+RN+TL)

Is Commander seeing differently from a strategic view

Pip Well
Trooper 1
"Thinking Heart & Feeling Brain"
  • #1,107
  • Apr 28, 2010 5:00am Apr 28, 2010 5:00am
Quoting Sylar
Commander

In view of the recent financial hailstorm brewing over in Europe region there is a change in tactical battle plan

Potential target area are:

1) EU - Looking for PA to retrace to 1.3300 to 1.3350 for SHORT

2) GU - Looking to BUY @ 1.5150 (50%fib of recent swing + RN + S&R)

3) NU - Looking to BUY @ 0.71 (50%fib+RN+TL)

Is Commander seeing differently from a strategic view

Pip Well
Trooper 1
Good morning trooper.

In response to your questions...

1. EU - Agreed. Orders approved!

2. GU - Whilst I can see your reasoning for this I am still on the short side. When price failed to break the 1.5500 area again at the start of this week I decided to place a short from 1.5400. That trade is up about 250 pips at the moment so I personally won't be buying. Price is currently at your area of interest so watch price carefully before jumping in. The troops are deployed and the battle is about to begin.

3. NU - Currently a no go for me... no real trend in my opinion. Got to save as many troops as we can so I'd rather find a battle with a safer tactical outlook!

Regards,


Dan

I mean... over and out!

PS... Not trade advice, just my opinion!!
  • #1,108
  • Apr 28, 2010 6:33am Apr 28, 2010 6:33am
Hi mates

maybe I'm starting to understand the trend ??

look at the chart

I'm ready to buy on the next H4 move
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.gif Size: 11 KB
Account deleted
  • #1,109
  • Apr 28, 2010 7:15am Apr 28, 2010 7:15am
Quoting swissforex
Hi mates

maybe I'm starting to understand the trend ??

look at the chart

I'm ready to buy on the next H4 move
Hi Swiss,

I don't like to criticise because the trade could turn out to be right but it's not one I would class as an A+ setup. I still see the downtrend in place (from the daily perspective) and am therefore cautious about buying right now.

For those who are new to trend trading I would advise following a pair that remains in a clear trend... such as the EUR/USD.

Regards,

Dan
  • #1,110
  • Apr 28, 2010 10:40am Apr 28, 2010 10:40am
Dear Commander

Looks like i may been dancing to the wrong tunes

Seems like most pairs are hip hopping on the "Flight of Safety" melody

Hmmm i need to readjust my rhythm back to sync with the market.

Attached are my charts for your comment(s)

1. EU
Still bearish. Looking to SHORT @ 1.330 (50%fib + RN + S&R)

2. GU
On the sideline trying to let it lead me in the dance.
Either Buy @ 1.150 (50%fib of recent swing low + RN + S&R) Or
let it lead me to a more comfortable zone of 1.5350 (50%fib of recent swing High + RN + S&R) where we can waltz all the way DOWN

3. AU
Bearish. PA have broken the upward TL. Looking for retracement to now support turned resistance TL + 50%fib region of 0.9250 to TANGO

Btw Commander Dan did i mentioned that u ROCK!!!

Let's us all dance to the tunes of Bee Gees "Staying Alive"



Trooper 1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU-4H.jpg Size: 132 KB
Click to Enlarge Name: GU-4H.jpg Size: 90 KB
Click to Enlarge Name: AU-4H.jpg Size: 100 KB
"Thinking Heart & Feeling Brain"
  • #1,111
  • Apr 28, 2010 2:59pm Apr 28, 2010 2:59pm
Quoting Sylar
Dear Commander

Looks like i may been dancing to the wrong tunes

Seems like most pairs are hip hopping on the "Flight of Safety" melody

Hmmm i need to readjust my rhythm back to sync with the market.

Attached are my charts for your comment(s)

1. EU
Still bearish. Looking to SHORT @ 1.330 (50%fib + RN + S&R)

2. GU
On the sideline trying to let it lead me in the dance.
Either Buy @ 1.150 (50%fib of recent swing low + RN + S&R) Or
let it lead me to a more comfortable zone of 1.5350 (50%fib of recent swing High + RN + S&R) where...
Hello Trooper 1,

In response to your charts...

1. EU - agreed; I am happy to continue selling this one

2. GU - I prefer the short approach... I wouldn't be surprised to see 1.4800 again fairly soon

3. AU - not an ideal trade for a newbie but so long as we stay below 0.9300 I agree with a bearish outlook



Regards,

Dan
  • #1,112
  • Apr 28, 2010 3:05pm Apr 28, 2010 3:05pm
We may also have to ditch the Bee Gees! Instead of "Staying Alive" I think we'll change the theme tune to the Foo Fighter's "Learning To Fly"!

Feel a bit better now!

  • #1,113
  • Apr 28, 2010 10:33pm Apr 28, 2010 10:33pm
I think a more appropriate theme song would be Jay Sean's "DOWN"

Baby we goin DOWN, DOWN, DOWN!!!
"Thinking Heart & Feeling Brain"
  • #1,114
  • Apr 29, 2010 2:10am Apr 29, 2010 2:10am
Quoting Danku
DanUK if you do not mind.........

carrot juice_yuli

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
Hi Danku and Danuk,
Thanks for your explanation.. been busy this week so i can only reply to your post today and miss the down move on EUR.. waiting for pullback to sell again later..

ps i like carrot juice + orange..
  • #1,115
  • Apr 29, 2010 4:11am Apr 29, 2010 4:11am
Hi all,

Been away on holiday for the last couple of weeks so trying to catchup with all my charts and this thread. It looks like i have missed some good shorts on the EUR (not surprised).
Anyway i am waiting for a small retracement on the EURUSD for a short and i am in GBPCHF long for the following reasons:

  1. retrace to SR
  2. 50% fib
  3. Trend Line
  4. Pin Bar

Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.jpg Size: 224 KB
  • #1,116
  • Edited 9:05am Apr 29, 2010 8:42am | Edited 9:05am
Quoting DanUK
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
Well say for example I decide to go long at 1.5, then I'll wait for price to go down another 50 pips to 1.45 before i place my pending order at 1.5. I use that as a sort of confirmation that the retracement is over...it's a little too rigid tho and I end up missing good trades so i'm tryin to use a bit more discretion.

Currently short EU at 1.324 and EG at 0.87...
  • #1,117
  • Apr 29, 2010 10:07am Apr 29, 2010 10:07am
Short EU from 1.3239 and short GU @ 1.5197 (currently at -75Pips) and @ 1.5274 (currently at +2Pips)..............anyone with me here..........

I do not look for runners, just the First Area of Trouble based on Bar Lows & Highs..........am up about +8% this week...........obviously trading with the Trend and using Support & Resistance........cheers..........lets see how they work out...............
  • #1,118
  • Apr 29, 2010 12:10pm Apr 29, 2010 12:10pm
Hi Danku,

I am with you on EU from 1.3250 also long GBPCHF from 16510 and AUDUSD short from 9270. Also a Gold long from 1094.

Quoting Danku
Short EU from 1.3239 and short GU @ 1.5197 (currently at -75Pips) and @ 1.5274 (currently at +2Pips)..............anyone with me here..........

I do not look for runners, just the First Area of Trouble based on Bar Lows & Highs..........am up about +8% this week...........obviously trading with the Trend and using Support & Resistance........cheers..........lets see how they work out...............
  • #1,119
  • Apr 29, 2010 1:52pm Apr 29, 2010 1:52pm
Quoting Rustam
Well say for example I decide to go long at 1.5, then I'll wait for price to go down another 50 pips to 1.45 before i place my pending order at 1.5. I use that as a sort of confirmation that the retracement is over...it's a little too rigid tho and I end up missing good trades so i'm tryin to use a bit more discretion.

Currently short EU at 1.324 and EG at 0.87...
Hi Rustam,

I see what you mean now although it seems a little bit strange to me! The reason I say this is because I used to do something similar... but kind of reversed.

Let's take your example: if I expected 1.5 to hold (to go long) I would wait for price to hit that level and then enter 50 pips above with a 100 pip stop loss. This would indicate to me that the level I anticipated has shown evidence of acting as support and in theory my stop should now be positioned 50 pips beyond that level should price come back down to test it again. However if 1.5 was broken that would suggest to me that I either incorrectly identified the level or a deeper correction was taking place and I would look for a better entry.

But if what you are doing works for you then keep doing it!

Regards,

Dan
  • #1,120
  • Apr 29, 2010 1:54pm Apr 29, 2010 1:54pm
Hi all,

I have also added to my E/U shorts at 1.3250.

Regards,

Dan
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