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Trend Trading Chart Thread

  • #1,301
  • May 25, 2010 2:44am May 25, 2010 2:44am
ok. enough of the mutual admiration society.

eurcad is on my watch list with 3070ish as a key level for me. daily attached.

no other pairs for me look interesting. i am in a speculative short on euro from 2340, which is not exactly on my bpc system (hence speculative) and moved to be now.

this is the only trade i am in, and hence am posting so much.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad_daily_may2010.png Size: 35 KB
  • #1,302
  • May 25, 2010 3:02am May 25, 2010 3:02am
Do you have to make it look soo simple? Totally agree.....nice setup....also Commander, do not forget the -ve correlation USDCHF has with EURUSD..................checkout the EURUSD Chart on the same date you entered this USDCHF long.......cheers.......can we have some more charts please..............they speak a million words................

Quoting DanUK
Yes that's right - in fact I still use it.

An example of how I do this "bpc" type trade can be seen below... this was an actual trade I took.

In this case price was bouncing off of resistance at 1.0500 - broke out and came back to re-test the level. This is where I placed my long (anticipating that the level would hold).

You can also wait for price to indicate that the level has held... in this example you could have entered above the bullish candle (that formed a kind of pin-bar / bullish engulfing bar) that re-tested 1.0500. This is probably...
  • #1,303
  • May 25, 2010 5:39am May 25, 2010 5:39am
Anyone waiting like the Vultures...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad (daily).gif Size: 22 KB
  • #1,304
  • Edited 5:41am May 25, 2010 5:40am | Edited 5:41am
Quoting coolshades
ok. enough of the mutual admiration society.

eurcad is on my watch list with 3070ish as a key level for me. daily attached.

no other pairs for me look interesting. i am in a speculative short on euro from 2340, which is not exactly on my bpc system (hence speculative) and moved to be now.

this is the only trade i am in, and hence am posting so much.
Hey coolshades, don't know if you watch this pair but EUR/NZD is doing the exact same thing but I think the setup looks tidier because of where the recent lows are, price has just bounced off what used to be resistance...ultimately they are correlated and would both move in the same direction, just thought id point this one out to you because it might be easier to pin point an entry.
I can't afford to take those trades because of the huge range, stop loss would need to be bigger than usual but your micro account must be less micro than mine

http://i46.tinypic.com/58rgx.jpg
  • #1,305
  • May 25, 2010 10:20am May 25, 2010 10:20am
Hi Rustam,

I was watching the same thing but missed the entry (in a meeting all day) i was looking to enter at 18700 on the 21st but i am not going to chase the trade now it has moved to far. There will always be another along soon

Quoting Rustam
Hey coolshades, don't know if you watch this pair but EUR/NZD is doing the exact same thing but I think the setup looks tidier because of where the recent lows are, price has just bounced off what used to be resistance...ultimately they are correlated and would both move in the same direction, just thought id point this one out to you because it might be easier to pin point an entry.
I can't afford to take those trades because of the huge range, stop loss would need to be bigger than usual but your micro account must be less micro than mine ...
  • #1,306
  • May 25, 2010 10:26am May 25, 2010 10:26am
Thanks Dan sorry i meant 9750 on chfjpy.

Quoting DanUK
Hi mate,

EU & GU I like. UJ not so keen (as per comments above).

I'm a little confused on the CHFJPY... aren't we in the 7700s at the moment?

USD/CHF is a tricky one... I see what you are seeing but I also see a possible barrier in the 1.12/1.13 area which is where I will be initially watching. Again, this is where watching for candlestick patterns can be very helpful!

Regards,

Dan
  • #1,307
  • May 25, 2010 10:44am May 25, 2010 10:44am
Interesting trade Dan i didnt realise you traded any style other than trend trading.

Anyone looking at usdcad long @10700 area?



Quoting DanUK
Yes that's right - in fact I still use it.

An example of how I do this "bpc" type trade can be seen below... this was an actual trade I took.

In this case price was bouncing off of resistance at 1.0500 - broke out and came back to re-test the level. This is where I placed my long (anticipating that the level would hold).

You can also wait for price to indicate that the level has held... in this example you could have entered above the bullish candle (that formed a kind of pin-bar / bullish engulfing bar) that re-tested 1.0500. This is probably...
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 189 KB
  • #1,308
  • May 25, 2010 10:51am May 25, 2010 10:51am
Hi coolshades i had my tend lines the same but never traded it because the tl broke on the 20th and i was not sure if it would act as support for a trend change. What do you think?

Sorry for all the posts but been away and need to get back in the game


Quoting coolshades
ok. enough of the mutual admiration society.

eurcad is on my watch list with 3070ish as a key level for me. daily attached.

no other pairs for me look interesting. i am in a speculative short on euro from 2340, which is not exactly on my bpc system (hence speculative) and moved to be now.

this is the only trade i am in, and hence am posting so much.
  • #1,309
  • May 25, 2010 11:05am May 25, 2010 11:05am
Quoting bez3000
Interesting trade Dan i didnt realise you traded any style other than trend trading.

Anyone looking at usdcad long @10700 area?
Hi Bez, I'm with you ...but I'm looking a little higher at 1.073.
  • #1,310
  • May 25, 2010 11:25am May 25, 2010 11:25am
hmmm.. all that commander is talking about is an entry. it IS trend trading still.



Quoting bez3000
Interesting trade Dan i didnt realise you traded any style other than trend trading.

Anyone looking at usdcad long @10700 area?
  • #1,311
  • May 25, 2010 11:33am May 25, 2010 11:33am
that sounds abt right to me. 750 is a strong line for me and reaction to that should afford some entries

Quoting Rustam
Hi Bez, I'm with you ...but I'm looking a little higher at 1.073.
  • #1,312
  • May 25, 2010 11:43am May 25, 2010 11:43am
Same for me the 700 AREA is at the 50% fib i would be looking to enter around 750 as well.


Quoting coolshades
that sounds abt right to me. 750 is a strong line for me and reaction to that should afford some entries
  • #1,313
  • May 25, 2010 11:47am May 25, 2010 11:47am
Dan do you only trade this "dpc" style with the trend or in any daly setup?

Quoting coolshades
hmmm.. all that commander is talking about is an entry. it IS trend trading still.
  • #1,314
  • May 25, 2010 11:51am May 25, 2010 11:51am
just catching up on posts (i do work even though it does not look like it).

i use mt4 for my charting and oanda for trades. i hate oanda's charts, so eurnzd is not on my trading list and neither is gbpcad.

let's not get into a 'whose daddy is micro-er' competition ;-) i will always win those. capitalising my account is not an issue really. however i have to prove to myself a sufficient period of consistency to allow myself to part with my hard earned moolah.

rustam is a beautiful persian name.



Quoting Rustam
Hey coolshades, don't know if you watch this pair but EUR/NZD is doing the exact same thing but I think the setup looks tidier because of where the recent lows are, price has just bounced off what used to be resistance...ultimately they are correlated and would both move in the same direction, just thought id point this one out to you because it might be easier to pin point an entry.
I can't afford to take those trades because of the huge range, stop loss would need to be bigger than usual but your micro account must be less micro than mine

http://i46.tinypic.com/58rgx.jpg...
  • #1,315
  • May 25, 2010 12:03pm May 25, 2010 12:03pm
wld u mind posting a chart sir? 700 as a 50% fib would mean your high is way way back in time?

Quoting bez3000
Same for me the 700 AREA is at the 50% fib i would be looking to enter around 750 as well.
  • #1,316
  • May 25, 2010 12:48pm May 25, 2010 12:48pm
Nice of UCAD to volunteer as a example of a BPC trade

Agreed with Coolshade that a good setup would be around 1.0700 to 1.0750

Commander would you like to share your view...

@Bez3000 - Glad to know another Turtle


Pip Well
Sylar
Attached Image (click to enlarge)
Click to Enlarge Name: UCAD-4H.jpg Size: 79 KB
"Thinking Heart & Feeling Brain"
  • #1,317
  • May 25, 2010 12:54pm May 25, 2010 12:54pm
No problem coolshades http://www.forexfactory.com/showpost...postcount=1307

Fib from 24th to 25th.

Quoting coolshades
wld u mind posting a chart sir? 700 as a 50% fib would mean your high is way way back in time?
  • #1,318
  • May 25, 2010 12:59pm May 25, 2010 12:59pm
Here another potential setup on Kiwi @ 0.6800 to 0.6850


Pip Well
Sylar
Attached Image (click to enlarge)
Click to Enlarge Name: Kiwi-4H.jpg Size: 82 KB
"Thinking Heart & Feeling Brain"
  • #1,319
  • May 25, 2010 1:09pm May 25, 2010 1:09pm
yes sir the 6620 ish level is on my watch list. the best levels are where support turns to resistance or resistance turns to support.

Quoting Sylar
Here another potential setup on Kiwi @ 0.6800 to 0.6850


Pip Well
Sylar
  • #1,320
  • May 25, 2010 1:19pm May 25, 2010 1:19pm
Quoting coolshades
yes sir the 6620 ish level is on my watch list. the best levels are where support turns to resistance or resistance turns to support.
I agree with that, well said sir :-)
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