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Trend Trading Chart Thread

  • #1,381
  • May 30, 2010 5:29am May 30, 2010 5:29am
U sure deserve them Cold Ones commander..........thanks for the charts.....quite a lot to learn but they speak a millions words..........cheers and keep enjoying the weekend...................

Quoting DanUK
Ok... well that is a start and just about leaves my various Euro shorts to post... but that will have to wait as it's time to go and have a couple of cold ones!

Regards,

Dan
  • #1,382
  • May 30, 2010 10:51am May 30, 2010 10:51am
Nice trade Commander

I would like to clarify your entries... Your entries are those Red lines not red arrow... Correct?

Pictures (or rather charts) is really worth a thousands word or rather thousand pips

S&R coincides with RN & your entries are on the pulldown after the breakout aka BPC to the RN. Simple & Nice

At the rate you are goin commander u can start your own dance academy


Pip Well
Sylar
"Thinking Heart & Feeling Brain"
  • #1,383
  • May 30, 2010 2:52pm May 30, 2010 2:52pm
Quoting DanUK
As requested, here is a chart of the USD/CHF and the current trades I am in (since starting my daily trading method).

The green lines are my entries. The dotted green lines are my next potential entries. I have thrown in a couple of trendlines for good measure!

My USD/CHF trades are sized so that 100 pips represents 1% of my trading account. None of these trades have been banked yet... I currently have a hard stop at 1.1000 and if price retraces to 1.1250 I will consider closing all positions if it doesn't hold - time is also a factor in this...
Excellent work Dan!

So how did you come to the conclusion to long this thing at the first place? If I am looking at your first position, I could say it was a potential short entry for the bearish trend continuation.

At that time there was no strong up trend established compared to the prewios down trend? How did you end up being bullish though?

Your explanation will help a lot.

cheers
Kind Regards zol
  • #1,384
  • May 31, 2010 12:29am May 31, 2010 12:29am
commander,

a couple of queries on usdchf. what's the significance of 1.5? is it the congestion area?

secondly, the daily of friday closed well above 1.5, nearly at 1.6 (atleast on MT4), so 1.5 did hold, if that's what you were looking at.

given that close above 1.5, where would you place the trade?

Quoting DanUK
As requested, here is a chart of the USD/CHF and the current trades I am in (since starting my daily trading method).

The green lines are my entries. The dotted green lines are my next potential entries. I have thrown in a couple of trendlines for good measure!

My USD/CHF trades are sized so that 100 pips represents 1% of my trading account. None of these trades have been banked yet... I currently have a hard stop at 1.1000 and if price retraces to 1.1250 I will consider closing all positions if it doesn't hold - time is also a factor in this...
  • #1,385
  • May 31, 2010 9:58am May 31, 2010 9:58am
Dan, can you show our stop loss too? and how yo trail your SL?
thanks for you chart, it really gives me another reminder how simple trading really is.
  • #1,386
  • May 31, 2010 11:13am May 31, 2010 11:13am
Thanks for the charts Dan very useful, can i ask how often you wait for PA? Is it only on some pairs if the trend is not that strong?

Thanks again for the help with my charts
  • #1,387
  • Jun 1, 2010 1:07am Jun 1, 2010 1:07am
anyone looking at this to go short?
Attached Image (click to enlarge)
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  • #1,388
  • Jun 1, 2010 1:17am Jun 1, 2010 1:17am
commander,

on your entries, you seem to be entering when a daily bar either closes above/below a s/r level and then a retest of s/r level. ie: do you place a pending order at the s/r level when the 1st daily closes above/below?
  • #1,389
  • Jun 1, 2010 3:18am Jun 1, 2010 3:18am
Quoting coolshades
anyone looking at this to go short?
I think 1.4950 - 1.500 would be the more ideal entry point for a short.

That fib retracement you have drawn is from a previous swing low to high and thus that 50 level would be used for a potential long if going against the overall trend...in order to consider a fib retracement as potential resistance it should be drawn from a previous swing high to low i.e. you are looking for 50% retracement of the last move from high to low as a potential entry point(rounded to the nearest round number).

Thus if using the daily TF you'd be looking at drawing a fib from the most recent swing low to swing high 28/5 - 21/5
  • #1,390
  • Jun 1, 2010 3:26am Jun 1, 2010 3:26am
yup, noted that. thks.

Quoting lovejoy80
I think 1.4950 - 1.500 would be the more ideal entry point for a short.

That fib retracement you have drawn is from a previous swing low to high and thus that 50 level would be used for a potential long if going against the overall trend...in order to consider a fib retracement as potential resistance it should be drawn from a previous swing high to low i.e. you are looking for 50% retracement of the last move from high to low as a potential entry point(rounded to the nearest round number).

Thus if using the daily TF you'd be looking at drawing...
  • #1,391
  • Edited 11:37am Jun 1, 2010 5:42am | Edited 11:37am
Dan can you give me some more info on these trades as i don't see any clear trend? Did you trade them with PA?

Quoting DanUK
At the beginning of the year I was bullish AUD/USD...

I was long from 0.8800, 0.9000 and foolishly 0.9250. I say foolishly because I was buying into strong support/resistance at 0.9300.

I ended up closing these trades at 0.9250 and reversing to shorts after the daily pin bar off of 0.9300 shown under the red arrow.
  • #1,392
  • Edited 5:26pm Jun 1, 2010 5:24pm | Edited 5:26pm
Thanks again Dan, or is it commander?
Some great trade ideas here.
Good this forum is comming alive.


My sell A/U 0.8500 take profit 0.8300 + 200
My sell E/U 1.2400 take profit 1.2200 + 200, 400 Pips up, nice!!

The crazzy one
  • #1,393
  • Jun 1, 2010 7:57pm Jun 1, 2010 7:57pm
Sorry this is a little late you guys, but here is a chart of EUR/USD on support. Bought at retest of 1.2200
Attached Image (click to enlarge)
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Dr. C
  • #1,394
  • Jun 1, 2010 11:51pm Jun 1, 2010 11:51pm
Quoting cvcamper
Sorry this is a little late you guys, but here is a chart of EUR/USD on support. Bought at retest of 1.2200

Hi. that is a ct trade. Alhough u may get lucky this time, if u do this repeatedly u can loose money in the long run.
Kind Regards zol
  • #1,395
  • Jun 2, 2010 7:25am Jun 2, 2010 7:25am
nothing new to report. got stopped out on my cable short at 4500. now awaiting the following levels.

cable - 4800 or 4500
euro - 2450 or 2500 (will take a speculative long on euro once it reaches 2150)
ucad - 1.04 or 1.07-75
ausd - 85 or 81
euroaud - 1.5
eurcad - 1.31

anything else peeps are following?
  • #1,396
  • Jun 2, 2010 10:07am Jun 2, 2010 10:07am
Very similar:

eurcad - 13000
cable - already in from 4500
euro - 2450
gbpjpy 13400




Quoting coolshades
nothing new to report. got stopped out on my cable short at 4500. now awaiting the following levels.

cable - 4800 or 4500
euro - 2450 or 2500 (will take a speculative long on euro once it reaches 2150)
ucad - 1.04 or 1.07-75
ausd - 85 or 81
euroaud - 1.5
eurcad - 1.31

anything else peeps are following?
Attached Image (click to enlarge)
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  • #1,397
  • Jun 2, 2010 12:27pm Jun 2, 2010 12:27pm
Hi guys, here you go some losing trades.

The red line repreents the trade from entry to getting stopped out. Notice that It went into more than 100 pips profit. I used 200 SL and pulled it to 100 as I was in 10 profit. This time it did not work out.

Attached Image (click to enlarge)
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Kind Regards zol
  • #1,398
  • Jun 2, 2010 12:33pm Jun 2, 2010 12:33pm
What kind of sl on cable? I had a 250 pip sl and i still got stopped out

Quoting bez3000
Very similar:

eurcad - 13000
cable - already in from 4500
euro - 2450
gbpjpy 13400
  • #1,399
  • Jun 2, 2010 12:35pm Jun 2, 2010 12:35pm
Check out Metals.
So I was long Gold but srewed up. Now there was the oportunity to get in, although it is really riskier here.

Reasons for entry: 50%+R confluence. Note that the entry level is right on the level of a previous big candle bottom.
Gold is in uptrend. Currencies are too bad, so people rate this metal high. At least I believe so

Look at how the 50% works on Silver. It is soo much like in a book. First, it buonces to south from the previous down swing, than to north. In both cases on 50% level of the previous move. Although I may get hurt, looking at the monthly and weekly chart, this thing is in up trend and I hope for the best.


Attached Image (click to enlarge)
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Kind Regards zol
  • #1,400
  • Jun 2, 2010 12:52pm Jun 2, 2010 12:52pm
So on this AU chart the price went down from a 50% level. I added to my position. I hope I am write, the trend seems to be down.....

So on thie EG we move down. I put a sell order to a level I believe has potentials to be strong resistance.

Look how funny this market went 4 pips close to my BE SL. It seems my broker forgot to push it higher.
When I was a newbier than this, if it is possible, I believed a bit that some brokers manipulate prices to trigger SL orders. This may be true. But my little money just dont seem to worth enough to do anything about it so I skipped this belief and moved over. I may get stopped out any time on any trade after all.....

I am going to read now something like : how not to be a coward.

With other words: How not to exit when you are in profit and there are no strong signs of trend reverse? If anyone can tell me please do.

Attached Image (click to enlarge)
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Kind Regards zol
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