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Trend Trading Chart Thread

  • #1,441
  • Jun 5, 2010 2:24am Jun 5, 2010 2:24am
Quoting bez3000
My current positions as we close on another week:

gbp/usd short 14500
aud/usd short 8400
eur/aud short 14488
gbp/jpy short 13400

Lets see what next week brings
i dson't understand! you are long gbp X2, and short USD x2, why not just go short cable! these are highly correlated pairs, this is why jacko trade just one. Anyway don't let me bother you if you're making pips!
  • #1,442
  • Jun 5, 2010 7:53am Jun 5, 2010 7:53am
Quoting coolshades
Do you place pending orders at these levels? Or wait for a touch of level? Or a breakout and then a pending for retest? Plus what kind of sls do you have?


My work is going to increase for a fee months and I am likely to trading the dailies only now. Let us see.

SL had been about 250-300 pips whatever I think is safe for that pair. Some are pending orders if I have a meeting or go and see a customer but if I am infront of the pc I wait for my alert then trade it. I have not been getting in at the best prices because I have been waiting for prices to turn and prove to me it is heading back with the trend and the retracement is over. Still very new to this way of trading but with Dans help I think i can make it work well for me.
  • #1,443
  • Jun 5, 2010 7:57am Jun 5, 2010 7:57am
Quoting TGpop
i dson't understand! you are long gbp X2, and short USD x2, why not just go short cable! these are highly correlated pairs, this is why jacko trade just one. Anyway don't let me bother you if you're making pips!
Good point tgpop, I know they are correlated pairs but I just trade what I see and don't worry about that to much rightly or wrongly!
  • #1,444
  • Jun 5, 2010 10:46am Jun 5, 2010 10:46am
ok. and how do you move sls? asking so much since daily is new to me too. i am looking to place sls about 50 pips more than daily range, but havent yet decided whether i then move them in fixed 100 pip moves or not.

Quoting bez3000
SL had been about 250-300 pips whatever I think is safe for that pair. Some are pending orders if I have a meeting or go and see a customer but if I am infront of the pc I wait for my alert then trade it. I have not been getting in at the best prices because I have been waiting for prices to turn and prove to me it is heading back with the trend and the retracement is over. Still very new to this way of trading but with Dans help I think i can make it work well for me.
  • #1,445
  • Jun 5, 2010 4:19pm Jun 5, 2010 4:19pm
Hi Bez3000

Thanks for your support, I feel this is the best place to send new traders.
Dan has a great grasp on this method, this is one of the best forums on ff for my style of trading.
Jacko has been breaking his own rules lately and missed a lot of good E/U trades. I also think having larger SL would have saved him.

A few questions.
Are you trading his style on your other open trades ie A/U E/A G/J etc.
If so, how is it working out?


Thanks in advance CP
  • #1,446
  • Edited 4:19am Jun 6, 2010 3:47am | Edited 4:19am
Hi coolshades i am thinking of managing my SL by placing them at the previuos high/low and only moving them when a new swing (retracment) is being made. The theory being that each swing should be lower/higher than the last in a trend.Dan can you comment on this as a way of managing my SL?
  • #1,447
  • Jun 6, 2010 3:56am Jun 6, 2010 3:56am
Quoting crazzypip
Hi Bez3000



A few questions.
Are you trading his style on your other open trades ie A/U E/A G/J etc.
If so, how is it working out?


Thanks in advance CP
Hi crazzypip,

I am only trading this style now, after looking at countless "internet systems" scalping meathods etc....I have come to the conclusion that this meathod used by Jacko and Dan is a great way for me to trade and with all the help these guys have given me it's turned my trading around.
  • #1,448
  • Jun 6, 2010 8:59am Jun 6, 2010 8:59am
Quoting bez3000
My current positions as we close on another week:

gbp/usd short 14500
aud/usd short 8400
eur/aud short 14488
gbp/jpy short 13400

Lets see what next week brings
halo, im a newbie... i saw jacko say trade only round number, but ur "eur/aud short 14488" don't seem like a round number to me.. or am i misunderstanding something here...? btw, r u one of the jacko turtle?
  • #1,449
  • Jun 6, 2010 9:58am Jun 6, 2010 9:58am
You're right 1.4488 would not be a round number. However it is a strong level of support on EURAUD. Dan and Jacko both believe that the market respects round numbers close to support and resistance levels and they tend to adjust to nearest round number x.xx50 or x.xx00. In this case maybe adjust to 1.4500, but you need to see what happens when price reaches that area.
  • #1,450
  • Jun 6, 2010 10:05am Jun 6, 2010 10:05am
Ok, areas I have marked as interest for the week are:

EURUSD - Short from 1.2200

GBPUSD - Short from 1.4600, if this doesn't provide resistance then I be looking towards 1.4800 area for short.

(only trading these two pairs currently due to work commitments)
  • #1,451
  • Jun 7, 2010 7:59am Jun 7, 2010 7:59am
E/A Looking at the weekly chart could this be a trend change?
  • #1,452
  • Jun 7, 2010 11:06am Jun 7, 2010 11:06am
Quoting crazzypip
E/A Looking at the weekly chart could this be a trend change?
hm

For some this is a trend change. For others it is not. To be sure, we need to wait for 6 moths or so and look at the chart where the market for half a year went. Than we can now for sure.

The EU is still in a mess so this may be able to go down further easily IMO. The recent action was very aggressive, news-like. A bit more settled PA could be more usefull when checking trends. As well, a stongly correlatied pair, ECAD, just made a new recent low. And before the trend would change we could see a period of zig-zag....or accumulation phase if you like. Check out how this thing looked like between 1.86 and 2.1.
Kind Regards zol
  • #1,453
  • Jun 7, 2010 11:49am Jun 7, 2010 11:49am
cp, my weekly chart attached. curious to know why you think it might be trend change. i am not saying you are wrong but want to read what you are reading.


Quoting crazzypip
E/A Looking at the weekly chart could this be a trend change?
Attached Image (click to enlarge)
Click to Enlarge Name: euraud_weekly_june2010.png Size: 30 KB
  • #1,454
  • Jun 7, 2010 11:58am Jun 7, 2010 11:58am
I am watching the level of 1.49 or so. Potential R+50% confluence with the trend being down (IMHO). When it gets there I short it if I am avaliable to trade....
Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_078.gif Size: 23 KB


AU- Trend down, creeping up to 50% and potential R confluence zone at 8275-8300. I might add to it if this happens. Wish me luck.

Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_077.gif Size: 25 KB


EU - Same thing. My belowed country, Hungary, is just helping the Euro to go down. Some say they are idiots to say such comments as recently. I say. no. Let us assume the party lads put together what money they had and went into to market and shorted it jus prior the guy compared Hungary to Greece. Well. Does not take a genious to anticipate some 1-200 pips sell off. It was 300. They initiated it. They made money. Eh. Of course, this is just a possibility.

Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_076.gif Size: 22 KB


The trade I did not miss. Risk calculated, let us pray. Riskier entry than the ones above. But those are gone and this is here. I hope...
Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_075.gif Size: 27 KB
Kind Regards zol
  • #1,455
  • Jun 7, 2010 12:06pm Jun 7, 2010 12:06pm
Hehe...the trade I did not miss...or did I? I entered perfectly. Than I did chicken out with 10 pip loss (10 pip on the Beast is a fraction of a butterflyfart) . Anyway, the set up is there. It may or may not work out....both without me.
Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_074.gif Size: 25 KB


Another fun. I am happy that my bet on Gold did work out. I thought really that people like Gold a lot and it is moving up. Too bad the nice professionals got me be some 4 points. Also very bad that a wonderful set up came to being and I did not watch. This is an almost perfect set up.

 

  1. Up trend
  2. Up trend line touch
  3. 50%

And it did go to the little moon in a few hours. No matter, there are always more trades ahead. And, what people do not think about, there are always a lot we miss while slepping, eating, being on the toilet.

Attached Image (click to enlarge)
Click to Enlarge Name: MYVSA_073.gif Size: 26 KB
Kind Regards zol
  • #1,456
  • Jun 7, 2010 1:43pm Jun 7, 2010 1:43pm
Re E/A thanks for your feedback guys.
I think this is one to watch at the moment, if you are trying to short this, take care it could be going north bound. Oh I just checked again and it is.

CP
  • #1,457
  • Jun 7, 2010 1:49pm Jun 7, 2010 1:49pm

Hey zoli

Those are really nice set ups and clean chart!!
I really like to see some more from you.

Thanks everyone for sharing your knowledge and you strategies.

Learing a lot from you guys


  • #1,458
  • Jun 7, 2010 2:27pm Jun 7, 2010 2:27pm
Nice setups Zoli,
  • #1,459
  • Jun 7, 2010 3:02pm Jun 7, 2010 3:02pm
Quoting crazzypip
Nice setups Zoli,
Quoting Jorg

Hey zoli

Those are really nice set ups and clean chart!!
I really like to see some more from you.

Thanks everyone for sharing your knowledge and you strategies.

Learing a lot from you guys


Thx guys. You should know that they look nice because of the harmony of the color of the chart. White and black... good for the eyes.
Anyway, away with the silly stuff, I do consider important to me to post loosing and missed trades and positions to show what to take care of. We learn together. Examples of bad trade management in an environment othervise full of excellent trade opportunities.

We thank for Dan.
Kind Regards zol
  • #1,460
  • Jun 8, 2010 9:16am Jun 8, 2010 9:16am
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
Hi Dan, not seen anything from you in a while any chance of your euro charts? Hope all is well.

Garry
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