Trend Trading Chart Thread

yes, am only in on my eurcad from yest. . i did warn yesterday, do respect that counter trend line ...the few times i have been right.. who knows it might now reverse and prove me for the fool i am

Hi,

I forgot to reply to this one yesterday... I'm curious, why 21/5?

Regards,

Dan

as in chart.

Ah I see... I wasn't reading your question properly... I was looking at my quote about USD/CHF and thinking that's what you were asking about!!

The simple reason is that when I see a 50% level that doesn't hold but the trend remains technically valid I will move my retracement up (or down in the reverse) to the next swing.

Regards,

Dan

you mean a retracement that doesnt hold right? like now when price is currently rising and 2300 is not able to hold it down but 2500 does?

Yeah!

ok. i have a limit order to sell euro at 2900 and join all of you in the party. sl at 2550.

hope the damn thing triggers. still staying away from cable. audusd is coming down and has closed below my counter trend line but not closed below 8700 yet. so away from that too.

edit: stopped out at be. will wait for daily candle close now. am in no other long term trades.

I got shorts in GU and EU .... Hopefully it works this time ...

watching at 7300

Sold E/U 1.2330
Hope after all the news we are safe for the down move.

undecided. my short at 2290 got closed at be so i am not in it now.

however, if anything i am inclined for longs.

i wasnt short till day before yesterday because the counter trendline was not broken. it got broke and closed below 2300 and i got in. however yesterday price still closed above 2300 so anything can happen.


my immediate thinking is that while the long term trendline holds, we are still in a downtrend but right now we could go all the way to test 2500.


stay safe.

audusd limit sell at 8700, sl 89

gbpaud, dont know. everything looks right, but i havent ever traded this pair. any comments?

EDIT: cancelled audusd because of no retrace. not entered gbpaud. the three consecutive bull candles are called three white crows and supposed to be indicative of a strong bull move.

Any thoughts on EURAUD..........on Resistance 1.4300 RN, Bounce off TL and waiting for OB close...otherwise a pass for me.......cheers and nice weekend guyz & galz..................

i dont know bro. this week has been disappointing because we havent been paid on our long term trend trading. atleast i havent been paid.

one of the reasons i am also looking into a steady non time consuming time trading system.

i am not at all convinced that the long term downward trend will resume in the way it used to do a few months back.

in fact on cable i should have gone long yesterday since the daily closed above and below my immediate down line. if cable closes today above 1.5, i am certainly taking longs next week.

Hi guys, this is what I share for the weekend.

We must be aware of the market bahavior all time. We must expect the market to do certain things and be prepared....i guess.
I did expect this so I am not surprised. One may even take profit here, as all the many who did and helped to cause this bar to shape. Many go long here too.

Hmmm I proudly announce a positive week on a live account! This is my first positive week which is not accidental! I had positive before, even nice ones but they were not really planned, just happened.
What I am even happyer about, that I made a LOT of idiot trades and also lst a lot this week. Yet I am up with my winns. This proves me that if I work on myself I have potential simply just drop the ichiness and settle down with some nice a sweet trading.

I am up 1%!!!!!!!!! Not much he? That does not matter. The process matters, the money does take care itself.

By the way, this is an entry of a combined techniqe. Tape readig for entry in the short directioun around 50% level.

I let it go either way. Have a nice weekend!

PS: On GU you see my "Break out trade". Target is the big 50% but we may buonce off this minor one. Why do I go long? Because I bet this should have gone down already if wanted. This is a bet only. By the way, I made money more than once by beting on some direction than I saw I was wrong (VSA and PA proved the opposite). I said: I am wrong, the othey way around is the good directions. That was, when the S/R or 50% did not work out.

congrats sir.

i am yet to recover from my long term trading losses of a few weeks back.

on cable, certainly - if the daily closes above 1.5, i am long next week.

it will be useful if you could explain your system in some more detail.

Oh ys. Thank by the way. I did mention I write down my "system" or something like that.

There is a basic thinking of mine which - I believe - will make me a lot of money, more than I need. I hope you have this idea about yourself too.

Sorry that I am not clear, this is not ready. What I am trying to do:

Trading in the direction of the trend at S/R, 50% levels. I am looking at Price and Volume at these certain areas and try to interpret it correctly.

This is the basic and there are several versions of it:

1. Long term stuff. I love to check this: 50%+S/R+TL 3rd touh confluence. If I see this on the daily clearly I do not hesitate, I pull it right away. This has proven to be a good set up as I observed big moves many times. Does not always work.

I pull BE afer SL amount of pips. SL depends on pair, 100 or 200. Trailing SL as it goes. Strategy 1 seems to be profittable. Examples. Check out daily EA, EC, EN

2. Short term stuff. VSA with a map. The map is comprised of 50% levles, Tl and S/R levels. I only care about extrem action. I remember 1 year ago when I started to learn VSA I seemed to find UT every 10 minutes. How silly I was. I only care of potentil set ups at certain areas on the chart. SL depends on PA and this is rather a day trading strategy. This made me nice profits this week. NICE profits as I did some 6% loss before I ended up 1% in profit. I trade with small risk. The 6% loss were idiot revenge, play and so on. Those trades were not considered through, I just entered as experiment. I did got the result of the experiment all right. I pull to BE after SL amount of profit or even before. Proit is 1-3 times risk but I do take my profit at contra areas. For example Whe I short it from a 50% level I would profit as it goes down till the next 50% level of the previous up swing. Or I exit on contra signal or minimum pull my SL tight.

Strategy 2 is profitable, may be very profitable but it is very much experience dependent!!!!!!

3. Mix of 1. and 2. I am in a trade like this at the moment. Like my previous chart showes I am short on ECAD. I do enter like in strat 2 but the levels has to be strong. After having some nice paper profit I pull it to BE. Than I say: OK, whatever, c u later baby. From that on this guy jumps up to strategy one. As a result I have an increased position size and hope to go far away. I trail SL after 100 pips profit. Maybe after 200, depends on pair.

Strategy 3 could be very profittable but very much experience dependent.
check this: on ECAD 2-300 pips are not unusual swings. 500 pips i relatively one direction is not unusual. Check it on chart. I am in on 50 pips risk. do the math.

I guess these are the technical and least important ideas of my -in development - system.

My most important system core, my processor, the one thing I do the most work with is sitting on my shoulder. Spirit, ego, emotional thoughts, call it as you want but the mental part of this whole trading will make the money, not really the technical - that is to me.
I do believe that a complete idiot can make money from trading if he is cool headed and disciplined. Give hime a simple MA cross system and he could make money. Psycho is everything to me.
I really work hard on my mental state. I believe that I need to loose to win. I need to loose 1000 and win 3000 so I can book 2000. The ratios are just representative values. This is gambeling with the hous edge on our sides if we want. Casino. Only we can be the casino but it is hard work.

Self disciplince. Self confidence. The development of these, that is my true belief. In fact, I already decided, when I am profittable and know really what I am doing, I will open a thread with this topic. I will not mention there trading system as it does not matter that much.

Check out forex factory. You find very senior guys like : Mr total mechanical system guy, discreationary guy, only trade 2 times in a month guy, scalper maniac, etc.... assuming they are all profitable the only common is the mental condition as they use different systems.

But do not listen to me. I am learning for 1.5 years, I am a slow learner. I got through the complete succer state and bouths robots, believed the marketing, lost money with them than lost money on my own. I learned and do learn but NEVER blown up an account. I did consecutive profittable months with demo account, nice profits. I am now at the moment of the beggining where I do not loose money any more and I trade my live micro account. That is already vitory for me.

I am structural engineer and I can make 30000 EU at the beginning of my professional carrier, 100-130 000 at the middle top (as employee) and som more at the high top. I did study for 5 years for this. It will not pay my worl wide trip.....and bosses kick my ass.

I extremly happily learn for 5 years to trade to get the same and certainly more income!!!!!! 1.5 s gone.


I urge you to do similarly.

Hi Zoli,

Good trades!
Your G/U trade is interesting, the day trend is down and on 50% at 1.5000
many people would have been short, you went long on the break of the first tl just above 50% and your tp is at 1.5346 the second tl higher 50% fib is that correct?
CP

Yes that is correct. Also admit, that this is not 100% the strategy I previously outlined. Check these charts. You can see that, yes, the 1.5 is a strong level of 50%, round number and so on. But, according to my bet, if it was to work out to the downside, it should have been bellow 1.5 at this stage and not above again. Therefrore the upside direction seems to be the moe dominant. At the moment.

Anyone long usdchf i am in @ 1.0900.

1. S&R
2. Close to 50% fib
3. Just short of rising TL
4. Just as a side note low volume on the previous 4h chart, still very new to this but wouldn't a move through this S&R require higher volume to push through, would low volume tell me the pros are not interested in lower prices???? (comments on this would be good)