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Trend Trading Chart Thread

  • #1,321
  • May 25, 2010 2:14pm May 25, 2010 2:14pm
I've been wanting to take some trend trades based on 4HR and Daily time frame for a while and what with the current intraday volatility now is a good time to start...though obviuosly I've missed a lot of the trend action over the last few months on these timeframes lol.

Been lurking here reading over some posts for a while so thought it time to contirbute.

Just took E/CAD short based on PPZ, round number and 50% retracement of the recent swing.
Attached Image (click to enlarge)
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  • #1,322
  • May 25, 2010 2:17pm May 25, 2010 2:17pm
Quoting coolshades
just catching up on posts (i do work even though it does not look like it).

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.
Haha, I didn't mean anything by it I'm in the same boat actually, just trying to gain consistency and confidence before I commit money to it. For now risking 7-8 quid is affordable but teaches discipline, which I think is one thing a demo account can't...

I'd like to know, do you guys trade outside of london hours? The USD/CAD trade we're all watching is in the area we wanted to see but I just hate opening a trade and seeing it stuck in a 20 pip range for 10 hours.
  • #1,323
  • May 25, 2010 2:51pm May 25, 2010 2:51pm
Hi guys,

Loads of posts to catch up on whilst I've been busy all day! So I thought I would make my replies in one long post rather than loads of little posts...

@coolshades - I know it's a bit late but what was your plan with the EUR/CHF at 1.4330?

@The crazy one (aka crazzypip) - I'm glad we've been able to help; this thread is turning into what I always wanted - a place for like minded traders to share and help each other in the trend trading context.

@Trooper No 1 (aka sylar) - those three lessons you pointed out are very good leasons to learn: I recommend printing those out and keeping them somewhere where you are always reminded of them!

@Danku - keeping it simple is what I do best! I will get round to posting more charts... after all, that is the main purpose of this thread!

@bez3000 - you're still typing too fast!! You meant 79.50 right? If so, I would agree... although I would be watching 79.00 - 80.00 as an "area". In fairness however I don't tend to follow this pair normally so I wouldn't put too much stock in what I say on!

USD/CAD does look interesting at 1.0700. I don't really watch the H4's these days but if I did I think that would be the first area of interest for me.

With regards to pullback/continuation trading - coolshades is right, I look to do this in the direction of the trend only. Something I have learned is that when you trade with the trend almost any reasonable setup has a good chance of succeeding. When you trade against the trend even the very best setup can fail easily!

@lovejoy80 - nice trade, I missed this but the H4 chart is looking like it might form a bearish engulfing bar - if it does I think I might jump in too!

Hope that is everyone! If I missed anyone it wasn't intentional!

Regards,


Dan
  • #1,324
  • May 25, 2010 3:25pm May 25, 2010 3:25pm
Hi Rustam i trade any time not just london hours. I have a pending usdcad @ 10700.
Good trading to all.

Quoting Rustam
Haha, I didn't mean anything by it I'm in the same boat actually, just trying to gain consistency and confidence before I commit money to it. For now risking 7-8 quid is affordable but teaches discipline, which I think is one thing a demo account can't...

I'd like to know, do you guys trade outside of london hours? The USD/CAD trade we're all watching is in the area we wanted to see but I just hate opening a trade and seeing it stuck in a 20 pip range for 10 hours.
  • #1,325
  • May 25, 2010 4:09pm May 25, 2010 4:09pm
commander, eurchf @4330, i would have gone short IF i had got my version of bpc/123 (whatever you call it, my version being what i mentioned earlier). however i didnt get that pullback and had to be on the sidelines.

always always always always always always always always stick to the rules.

ucad, since price is now below 0700,will wait for a green bar to break and close above 0700, retrace and then enter. hopefully the bugger will behave and allow me an entry. by the way i am have been staring at my daily for some time and trying to figure out why 0700 is so important? on my chart 750 is the much better level.

lastly commander, how are the cleggaron twins keeping you? capital gains tax @ 40% will come sir, so will VAT increase.

EDIT: hope all eyes have noted the pinbar on usdchf daily. well located off the extreme high and closed below a strategic level. obviously i am in


Quoting DanUK
Hi guys,

Loads of posts to catch up on whilst I've been busy all day! So I thought I would make my replies in one long post rather than loads of little posts...

@coolshades - I know it's a bit late but what was your plan with the EUR/CHF at 1.4330?

[color=black][font=Verdana]@The crazy one (aka crazzypip) - I'm glad we've been able to help; this thread is turning into what I always wanted - a place for like...
  • #1,326
  • May 25, 2010 6:14pm May 25, 2010 6:14pm
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.
@Coolshade/Bez3000

What is your rationale on the 0.6620 ish level. On my chart i am waiting for the retracement back to the recent swing & 50% fib which is around 0.6800 to 0.6850


Pip Well
Sylar
"Thinking Heart & Feeling Brain"
  • #1,327
  • May 26, 2010 12:11am May 26, 2010 12:11am
Anyone saw the pin bar on daily? I thinks its time to wait for retracement back to key support resistant. Waiting GBP @1.4630 or 1.4800 and EUR @1.2500 or 1.3000 if it break.
Still trying to understand the bpc trade, anyone can explain with a chart a little bit clearer on when to enter? I mean to enter on the breakout of the last impulse swing or to enter directly after the pullback and at the low of the continuation bar.
coolshade did you see smaller time frame to look for the bpc (H1)?
  • #1,328
  • May 26, 2010 12:22am May 26, 2010 12:22am
A chart to explain my question
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  • #1,329
  • May 26, 2010 12:45am May 26, 2010 12:45am
yes, this is a bpc the difference in how dan and i trade it is that dan enters at 2570 and i at 2460

Quoting carrot_yuli
A chart to explain my question
  • #1,330
  • May 26, 2010 12:50am May 26, 2010 12:50am
see my daily.

Quoting Sylar
@Coolshade/Bez3000

What is your rationale on the 0.6620 ish level. On my chart i am waiting for the retracement back to the recent swing & 50% fib which is around 0.6800 to 0.6850


Pip Well
Sylar
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  • #1,331
  • May 26, 2010 2:40am May 26, 2010 2:40am
Commander & other Troopers

It seem that we all have different way of identify & drawing our swing.

So Commander (& others) would you like to share how would you go about identify a swing Hi or Low on the 4H timeframe.

Normally i identify or draw my swing/fib which coincide with those touches on the TL to add weight to the Fib & swing. However i also take into consider candlesticks/bar formation i.e hammer, shooting stars, pin bar etc

Would like to hear your comment(s)

Pip Well
Sylar
"Thinking Heart & Feeling Brain"
  • #1,332
  • May 26, 2010 4:07am May 26, 2010 4:07am
i use most recent swing high and swing low. dont bother about t/l touches. have posted enough charts with my fibs.

have exited my usdchf short off pin bar at b/e. realised its counter trend and thats against my rules. yes the realisation was a bit late in coming....

oh well, still no trades for me.

Quoting Sylar
Commander & other Troopers

It seem that we all have different way of identify & drawing our swing.

So Commander (& others) would you like to share how would you go about identify a swing Hi or Low on the 4H timeframe.

Normally i identify or draw my swing/fib which coincide with those touches on the TL to add weight to the Fib & swing. However i also take into consider candlesticks/bar formation i.e hammer, shooting stars, pin bar etc

Would like to hear your comment(s)

Pip Well
Sylar
  • #1,333
  • May 26, 2010 5:50am May 26, 2010 5:50am
Hi Sylar the chart attached shows the only trade i am currently in and i have marked my sing high/lows as i see them (everyone sees things differently). I don't always have to see a TL touch as long as S&R levels or 50% fibs are there.
This trade is currently -40 pips but its got a way to go yet


Quoting Sylar
Commander & other Troopers

It seem that we all have different way of identify & drawing our swing.

So Commander (& others) would you like to share how would you go about identify a swing Hi or Low on the 4H timeframe.

Normally i identify or draw my swing/fib which coincide with those touches on the TL to add weight to the Fib & swing. However i also take into consider candlesticks/bar formation i.e hammer, shooting stars, pin bar etc

Would like to hear your comment(s)

Pip Well
Sylar
  • #1,334
  • May 26, 2010 5:52am May 26, 2010 5:52am
might help if i attached the chart

Quoting bez3000
Hi Sylar the chart attached shows the only trade i am currently in and i have marked my sing high/lows as i see them (everyone sees things differently). I don't always have to see a TL touch as long as S&R levels or 50% fibs are there.
This trade is currently -40 pips but its got a way to go yet
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 181 KB
  • #1,335
  • May 26, 2010 6:34am May 26, 2010 6:34am
Thanks for the feedback guys

I also look for recent swing Hi or Lo & if it coincides with TL then it gives more weight to the trend analysis...

@Bez3000

IF UCAD keep goin down then next level to look out is 1.0550 to 1.0600... Pip Well Bez3000
"Thinking Heart & Feeling Brain"
  • #1,336
  • May 26, 2010 10:28am May 26, 2010 10:28am
is now below the long term daily trend line. i hope there is a retracement towards 3100 to enable me to go short. its been a wk since no trade i think.
  • #1,337
  • May 26, 2010 10:38am May 26, 2010 10:38am
That looks a good entry if it retraces, i was to early with my usdcad trade @10700 got stopped out for -100 anyone else take this trade or was it just me

Quoting coolshades
is now below the long term daily trend line. i hope there is a retracement towards 3100 to enable me to go short. its been a wk since no trade i think.
  • #1,338
  • May 26, 2010 10:41am May 26, 2010 10:41am
1st thing, dont even ask others. losses happen. i have had 3 losses in a row last week to monday (incuding one reported here). however they happened on MY system and to MY rules so i can digest them.

if you are still confident about why you went long at 0700 , then the loss doesnt matter. have faith in the system and the system will reward you.



ps: yes i am trying for an alternate career as deepak chopra.


Quoting bez3000
That looks a good entry if it retraces, i was to early with my usdcad trade @10700 got stopped out for -100 anyone else take this trade or was it just me
  • #1,339
  • May 26, 2010 10:46am May 26, 2010 10:46am
Anyone watching AUDJPY & AUDUSD...................AUDJPY looks better with the IB Fakey Setup with the trend....cheers
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  • #1,340
  • May 26, 2010 10:49am May 26, 2010 10:49am
True i know you are right coolshades, i guess sometimes when i loose i ask to see if i did something stupid as still a newbie, or if others went the same way (just an ego boost i guess).
Anyway i am confident i am right about usdcad just the wrong entry price so i am back in now.

Quoting coolshades
1st thing, don't even ask others. losses happen. i have had 3 losses in a row last week to monday (incuding one reported here). however they happened on MY system and to MY rules so i can digest them.

if you are still confident about why you went long at 0700 , then the loss doesnt matter. have faith in the system and the system will reward you.



ps: yes i am trying for an alternate career as deepak chopra.
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