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Trend Trading Chart Thread

  • #1,261
  • May 19, 2010 7:42am May 19, 2010 7:42am
Quoting Ezzy
Pulled the trigger too early on this one, wish I would have waited for 1.45, still in the trade. At this stage it seems to reach 1.45 reject and then retest it.

What are people's thoughts / comments.

Cheers to all.
Hi Ezzy,

I think a few of us may be in a bit early but nobody’s perfect, eh!

My opinion is that 1.45 is the decider - at the moment I'm watching the back and forth between 1.4450 and 1.4500.

If it breaks (not just pierces) the 1.45 level I will most likely liquidate all of my E/A positions. Then price will probably continue dropping

Regards,

Dan
  • #1,262
  • May 19, 2010 7:49am May 19, 2010 7:49am
What do you guys think of the following possible trend on G/Y ? or do you see it differently ? Thanks a lot
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_trending.JPG Size: 321 KB
  • #1,263
  • May 19, 2010 10:33am May 19, 2010 10:33am
Hi Charron,


I don't trade this pair but yes i do see a bearish trend but to enter now would be taking a counter trend trade which i don't take. I would be waiting for it to go back up to 140.00 area before considering a short on this pair.
Hope this helps.

Quoting charron
What do you guys think of the following possible trend on G/Y ? or do you see it differently ? Thanks a lot
  • #1,264
  • May 19, 2010 11:06am May 19, 2010 11:06am
being the modest, humble, non-trumpet-blowing,self-effacing chap that i am, i am not one to boast....


http://www.forexfactory.com/showpost...&postcount=382

http://www.forexfactory.com/showpost...&postcount=378

my trading style is pretty much what Dan propounded originally, still use 100 sl, still use h4, the only modification i have made is that i might also look at a BPC reaction above/below 50% fib as a confirmation.

as always the standard caveat is- trade your own system



Quoting DanUK
Hi Ezzy,

I think a few of us may be in a bit early but nobody’s perfect, eh!

My opinion is that 1.45 is the decider - at the moment I'm watching the back and forth between 1.4450 and 1.4500.

If it breaks (not just pierces) the 1.45 level I will most likely liquidate all of my E/A positions. Then price will probably continue dropping

Regards,

Dan
  • #1,265
  • May 19, 2010 2:06pm May 19, 2010 2:06pm
Hi guys,

As you might expect I closed all of my EUR/AUD positions today. I closed all positions manually except for the last trade which hit it's stop loss. The net result is +2400 pips... I will update my journal to show how/where etc!

I will now be watching to see what happens when we reach this area - as to whether we will go back down or whether the long term trend has changed.

Regards,

Dan
Attached Image (click to enlarge)
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  • #1,266
  • May 19, 2010 2:13pm May 19, 2010 2:13pm
Quoting bez3000
Hi Charron,


I don't trade this pair but yes i do see a bearish trend but to enter now would be taking a counter trend trade which i don't take. I would be waiting for it to go back up to 140.00 area before considering a short on this pair.
Hope this helps.
I second this!
  • #1,267
  • May 19, 2010 2:17pm May 19, 2010 2:17pm
Quoting coolshades
being the modest, humble, non-trumpet-blowing,self-effacing chap that i am, i am not one to boast....


http://www.forexfactory.com/showpost...&postcount=382

http://www.forexfactory.com/showpost...&postcount=378

my trading style is pretty much what Dan propounded originally, still use 100 sl, still use h4, the only modification i have made is that i might also look at a BPC reaction above/below 50% fib as a confirmation.

as always the standard caveat is- trade your own system
Nice work... a little counter-trend for my liking but well done all the same! You took some pips from me so assume I will be sending the troops after you to get them back lol!

Regards,

Dan
  • #1,268
  • May 19, 2010 4:04pm May 19, 2010 4:04pm
has the daily on euro made you go hmmmm?

Quoting DanUK
Nice work... a little counter-trend for my liking but well done all the same! You took some pips from me so assume I will be sending the troops after you to get them back lol!

Regards,

Dan
  • #1,269
  • May 20, 2010 3:31pm May 20, 2010 3:31pm
Quoting coolshades
has the daily on euro made you go hmmmm?
Hi coolshades,

I'm not entirely sure what you mean!

But I can say that I have enjoyed trading EUR/USD on daily more than anything I have ever traded!

Regards,

Dan
  • #1,270
  • May 20, 2010 3:33pm May 20, 2010 3:33pm
Ladies and Gentlemen,

I have sold EUR/USD @ 1.2500

We've had some crazy movements with other Euro trades these last few days with all the intervention, news and poking... hopefully E/U might provide us with some sane trading!

Regards,

Dan
  • #1,271
  • May 20, 2010 3:58pm May 20, 2010 3:58pm
commander, we are on opposite sides yet again. i have gone long at 2440, based on the double bottom and bullish daily bar of yesterday - which is what my previous post referred to.

Quoting DanUK
Ladies and Gentlemen,

I have sold EUR/USD @ 1.2500

We've had some crazy movements with other Euro trades these last few days with all the intervention, news and poking... hopefully E/U might provide us with some sane trading!

Regards,

Dan
  • #1,272
  • May 20, 2010 4:08pm May 20, 2010 4:08pm
Quoting coolshades
commander, we are on opposite sides yet again. i have gone long at 2440, based on the double bottom and bullish daily bar of yesterday - which is what my previous post referred to.
Well Mr Shades, this is very bad indeed! Once was almost forgivable but twice... well now that could be cause for a Court Martial!

Technically the daily trend is still down so it's a sell for me - until proven otherwise.

Regards,

Dan
  • #1,273
  • May 20, 2010 5:16pm May 20, 2010 5:16pm
Quoting DanUK
Well Mr Shades, this is very bad indeed! Once was almost forgivable but twice... well now that could be cause for a Court Martial!

Technically the daily trend is still down so it's a sell for me - until proven otherwise.

Regards,

Dan
Sugar !!.. 2technicaly sound traders... on opposing Sides...
why cant you follow Cameron and Clegg !!!.
Chart..6 hr Tf...completes in 2 hrs

ps G/L to you both.. also DOW sold off as well late in Us session

EUR_USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD Spot.png Size: 13 KB
  • #1,274
  • May 20, 2010 7:18pm May 20, 2010 7:18pm
Looks like the ECB are buying some Euro.
I am staying away at the moment.
Looking to sell at aound 1.2700 or 1.3000

A/U Looks like 0.81000 Res hard to break.

Good luck to who ever wins.

The crazzy one
  • #1,275
  • Edited 2:45am May 21, 2010 12:57am | Edited 2:45am
commander i got stopped out at b/e. a bit stupid of me since i could have closed it for 100+ profit. anyways, waiting for next set up.

edit: OK Commander. the court martial did it. I am with you now. short at 2500.

Quoting DanUK
Well Mr Shades, this is very bad indeed! Once was almost forgivable but twice... well now that could be cause for a Court Martial!

Technically the daily trend is still down so it's a sell for me - until proven otherwise.

Regards,

Dan
  • #1,276
  • May 21, 2010 8:10am May 21, 2010 8:10am
am closing my trade for a loss. was an impulse trade and have no one to blame but myself. no doubt, euro will sink to the bottom now!

anyhoo, it was a good week. will look for shorts only below 2455 and not above.
  • #1,277
  • May 24, 2010 5:10am May 24, 2010 5:10am
I think I can here the music again...

Quoting Sylar
I think a more appropriate theme song would be Jay Sean's "DOWN"

Baby we goin DOWN, DOWN, DOWN!!!
  • #1,278
  • May 24, 2010 6:55am May 24, 2010 6:55am
commander, i was wrong, and your call was right. i hope i am the only on foolish enough to take my own calls ;-).

btw what other pair are you following? i want to get back on ea, ecad, echf and au, but none of them are being cooperative.

Quoting DanUK
I think I can here the music again...
  • #1,279
  • Edited 7:23am May 24, 2010 7:22am | Edited 7:23am
Quoting coolshades
commander, i was wrong, and your call was right. i hope i am the only on foolish enough to take my own calls ;-)
Don't beat yourself up over a call the opposite way it went. You will get better at the calls.

I was looking at the possibility of going long.

I just found more reasons to go short from 1.25 on Friday.

And I usually don't enter positions on a Friday.
  • #1,280
  • May 24, 2010 7:32am May 24, 2010 7:32am
not beating myself up. as i mentioned, shorting at 2500 was an impuluse trade. it didnt follow any rules that i have and hence i dont regret closing the trade and the loss. i too didnt see any other particular pa to go short at 2500.

my style is simple as i have mentioned earlier, i still use dan's h4 system complete with the 100 point moving sl, but i wait for a bpc at key resistance points for going short or long, below/above the 50% fib.

so right now, i am still waiting for a retracement to 2500 to go short below 2455.

are there any other trending pairs on your radar.

Quoting Fx_Genius
Don't beat yourself up over a call the opposite way it went. You will get better at the calls.

I was looking at the possibility of going long.

I just found more reasons to go short from 1.25 on Friday.

And I usually don't enter positions on a Friday.
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