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Long term price action traders (all markets)

  • #1
  • First Post: Nov 14, 2009 1:49pm Nov 14, 2009 1:49pm
This thread is for long term price action traders. Here are the rules that I would like people to follow when posting.

Indicators allowed. The only indicators allowed in graphs are Trend lines, pivot points and support and resistance lines. The reason for this is that it is better to keep it simple, and because all those indicators confuses a lot of people.

Markets You can make posts about all financial markets so if you see a trade setup in the forex, stocks, commodities, futures or another market please post it.

Time frame This thread is for long term traders so graphs with a time frame lower than 4 hours aren't allowed. daily or higher time frames are preferred.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #2
  • Edited 2:08pm Nov 14, 2009 1:54pm | Edited 2:08pm
Here is a nice setup on the weekly GBP/USD chart. The way I would trade this setup is that I would buy as soon as the price touches the resistance line. I would sell if the price breaks through the trend line pulls back a little and then resumes. Stop loss and take profit are discretionary.
Attached Image (click to enlarge)
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #3
  • Nov 16, 2009 8:09am Nov 16, 2009 8:09am
morning star pattern

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patterns
  • #4
  • Edited Nov 17, 2009 2:08am Nov 16, 2009 9:49am | Edited Nov 17, 2009 2:08am
Here is another chart to watch. In this case we are in a long downtrend so I would prefer if the price breaks the lower trend line.
Attached Image (click to enlarge)
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #5
  • May 14, 2010 11:12pm May 14, 2010 11:12pm
Quoting Gambler180
Here is a nice setup on the weekly GBP/USD chart. The way I would trade this setup is that I would buy as soon as the price touches the resistance line. I would sell if the price breaks through the trend line pulls back a little and then resumes. Stop loss and take profit are discretionary.
More than 1000 pips could have been earned on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD weekly.gif Size: 12 KB
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #6
  • May 14, 2010 11:24pm May 14, 2010 11:24pm
Quoting Gambler180
Here is another chart to watch. In this case we are in a long downtrend so I would prefer if the price breaks the lower trend line.
The way I would have traded this one is that I would have sold after the close of the week that closed below the ascending trend line. After the next week where the price closed above the ascending trend line I would exit the trade for a loss and open a new position where I buy. at the end of one of the next 4 weeks I would probably have closed the position for a profit. Some weeks later the price broke the descending trend line. At the end of that week I would have bought and ideally I would have closed the trade at the end of the next week.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy weekly.gif Size: 15 KB
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #7
  • May 14, 2010 11:30pm May 14, 2010 11:30pm
this is interesting coz i have been flopping around all sorts of strategies posted on this forum and sure many of them work but as we all know its just depends which strategy adhears to each persons likes and dislikes..

i tried a meathod similar to what you out lined here and i do really like it,

i had a vacation over easter and i drew up some fib lines and a some support resistance lines, placed some pending orders and went on vacation! (went to KL grand prix)

look i only put in some micro positions and this is just fine with me coz i am still honing my skill set, so after spending 8 days out of the house, i had come home to some positions up others down, in the end i was up by just a little, but thing it taught me is that i dont need to trade everyday if i look at the market this way, and i went on vacation not worried about it at all, it was nice to know i can do this.

and since i have come back i have followed some of these ideals i thought up before easter, and i find it VERY stress free, i make good pips, less stress, and i get more time to plan my trades, with less exposure i also loose less pips!!!!!

so i really like this idea personally, and i will be looking in to see how other champions manage such trades,
if i used every commercial EA i would be a brazilianare by next week!!!!
  • #8
  • May 14, 2010 11:35pm May 14, 2010 11:35pm
The EUR/USD has closed below the ascending trendline on the weekly chart and it is also very close to the lowest low since october 28th 2008. I will sell when the market opens at Monday.
Attached Image(s) (click to enlarge)
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #9
  • May 14, 2010 11:38pm May 14, 2010 11:38pm
Here is a Monthly G/U showing a imminent turn.
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  • #10
  • May 16, 2010 12:15am May 16, 2010 12:15am
Quoting Gambler180
The EUR/USD has closed below the ascending trendline on the weekly chart and it is also very close to the lowest low since october 28th 2008. I will sell when the market opens at Monday.
Ok , good thread to see for long term trades . I always wanted part of such trades but never succeed,no patience actually.

So you will open short in eu , what sorts of long term prospects in look here as to the possible target & sl?
To me it can fall further but only by chance & by fundamental reason otherwise it should retrace healthy , many hundreds of pips & in that case , may be better wait to minimum 1.29+ to 1.31 for a good long term shorts & inbetween medium term long at & from any down continues till 1.2123 can be good .
just my idea.

Perhaps there are more logic behind long term trades , not understand yet.
Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #11
  • May 16, 2010 1:38am May 16, 2010 1:38am
Quoting fontu
Ok , good thread to see for long term trades . I always wanted part of such trades but never succeed,no patience actually.

So you will open short in eu , what sorts of long term prospects in look here as to the possible target & sl?
To me it can fall further but only by chance & by fundamental reason otherwise it should retrace healthy , many hundreds of pips & in that case , may be better wait to minimum 1.29+ to 1.31 for a good long term shorts & inbetween medium term long at & from any down continues till 1.2123 can be good .
just my idea....
I don't use target or stop loss. If a weekly candle closes above the trend line I will close for a loss. If the price continues to drop I will close when I don't think I can earn more pips on the trade.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #12
  • May 16, 2010 3:32am May 16, 2010 3:32am
Quoting Gambler180
I don't use target or stop loss. If a weekly candle closes above the trend line I will close for a loss. If the price continues to drop I will close when I don't think I can earn more pips on the trade.
Ok , as your strategy tells go without aim or prevent any loss as any important factor but at least better entry be there for any possible profit next . again how do you think if it going to earn more pips or not , price always go up & down all the time. anyway long term trades can be more coplex or more simple than thought.
goodluck .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #13
  • May 16, 2010 4:02pm May 16, 2010 4:02pm
Quoting fontu
Ok , as your strategy tells go without aim or prevent any loss as any important factor but at least better entry be there for any possible profit next . again how do you think if it going to earn more pips or not , price always go up & down all the time. anyway long term trades can be more coplex or more simple than thought.
goodluck .
fontu
Maybe I should have said that I take profit when I think I have earned enough pips :-)
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #14
  • May 17, 2010 1:55am May 17, 2010 1:55am
fiber long setup for 1.8 target eta 2-3 years
monthly close below 1.23 will reject this view
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  • #15
  • May 28, 2010 11:40am May 28, 2010 11:40am
Here is the algo

1)
Buy above .84 OR stop and reverse below .84 for target .73
Buy above .84 AND short at ~ .8950 - dont cover long - hedge positions

2)
IF breaks above .90 short again at ~.94 again at .98 AND cover all longs on LTL break(orange channel) then see last instruction.

3)
IF .90 holds as UTL set first long entry on BE(better nothing than lose) AND short on break below .84 then see last intruction.

Then constantly add shorts on rallies until .73 would be aquired.


Simple, right ?
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  • #16
  • May 28, 2010 12:35pm May 28, 2010 12:35pm
Good R:R trade in coming months

SL below 1.4(weekly close) and start again if price managed to stay above 1.4

Long again on UTL break ~1.45
Then long again on every dips if new LTL of upward channel holds.

TP is 1.6 which overal should give u over 5000K pips profits (2000 pips first long 1500 pips from second long at 145, etc.) and ever more if u are agressive scalper.

Have fun
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  • #17
  • May 30, 2010 3:19pm May 30, 2010 3:19pm
weekly USD/CHF

Uptrend!~

But if he go under 1.1447 I can wait for 1.0922 again !~

http://www.iran-forex.com/images/for...hf20100529.gif
A little beginner trader since 2006
  • #18
  • Jun 7, 2010 11:48am Jun 7, 2010 11:48am
I closed my position for 377 pips
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #19
  • Jun 10, 2010 11:30pm Jun 10, 2010 11:30pm
I'd love to pounce on this one with a move downwards...
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From the tips to the dips, it's all about the pips
  • #20
  • Sep 23, 2010 7:56am Sep 23, 2010 7:56am
Quoting Gambler180
I closed my position for 377 pips

Good day,

Have you forgotten this thread, you ve got a nice setups

..i trade with this strategy too.

hope to see you posts soon
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