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Trend Trading Chart Thread

not in it. watching. i will want the daily to close above 1.09 to consider longs.

Quoting bez3000
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)

  • Post #1,662
  • Quote
  • Edited Jun 29, 2010 3:21am Jun 28, 2010 6:00am | Edited Jun 29, 2010 3:21am
modified slightly - risk aspect

 

  1. open daily
  2. draw horizontal s/r levels. s/r levels should be those where there are more than a few touches up and down OR touches where reactions have been extreme
  3. adjust key s/r levels to RNs (only 00 and 50)
  4. draw sloping trendlines touching highs or lows. TLs should have atleast 3 touches
  5. identify long term trend
  6. identify most recent high and low and draw 50% fib in direction of long term trend
  7. go long if

    1. price at 50% fib or above 50% fib and at key levels, in direction of trend

  8. go short if

    1. price at 50% fib or below 50% fib and at key levels,in direction of trend

  9. entry:

    1. wait for price to break and close above/below key level on daily
    2. enter on retracement, as close as possible to RN
    3. if price does not retrace - do not chase trade

  10. stops:

    1. at 250 pips OR 10-20 pips above last swing high/low, whichever OR ATR + 20, whichever is lower. go for standard stop size of 250 pips in most cases
    2. move stops to b/e once trade moves 100 points
    3. if trade stops out at b/e, look to re-enter if conditions of trade are the same

  11. if long term trend exists BUT price also retracing in a shorter trend (LIKE RIGHT NOW ON MAJOR PAIRS), then

    1. draw short term trend line as well
    2. wait for daily to break below/above short term trend line
    3. wait to enter at the next RN in directon of long term trend
    4. DO NOT CHASE TRADE if price slips away

  12. Risk:

    1. never more than 2% of account size per trade IF there is confluence of 50% fib, S/R AND trend line intersection
    2. risk 1% on confluence of 2 of above
    3. do not have more than 5 consecutive trades open

  13. Anti Hedge

    1. if stopped out, place anti hedge once price moved 50 pips beyond stop out level
    2. place antihedge only if conditions of original trade still exist

for itchy fingers, experiments:

 

  1. trade on smaller micro account for anything and everything else

Quoting coolshades
not in it. watching. i will want the daily to close above 1.09 to consider longs.
Yep in to early again :-( i should have waited until tomorrow to see if bar closed as a pin and entered around 950 i think.

Anyway anyone looking @ chf jpy to short possibly around 8150?
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy.png Size: 51 KB
Hi Zoli,

Thanks for the charts and for explaining.
Good learning from you.
CP
i would want it to break and close below the counter trend line. i wouldnt take shorts unless close below 80.6 was achieved.



Quoting bez3000
Yep in to early again :-( i should have waited until tomorrow to see if bar closed as a pin and entered around 950 i think.

Anyway anyone looking @ chf jpy to short possibly around 8150?
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy_daily_june2010.png Size: 29 KB
this thread is going to sleep!


commander are you still in your euro short?

i have taken a gbpaud short at 7250, based on my 50% fib and s/r confluence at 7325. i have posted charts of this earlier.

EDIT: stopped out. will look to re-enter in 7700 region. May to today feels like one long losing period and it is. but its my system and will carry on.

who else is in what trade?

i will likely take a long on cable if price dips below 5000. i am kicking myself for not taking a long at the 4850 region.
A/U short 1.8600 ish
E/U still short from 1.2350
U/C long at 1.0310
G/U is all over the place, not for me.

I am also using my old ema day cross system, its been good to me in the past.

CP
can i see your u/c and a/u charts? for me both are all over the place actually.

i am contemplating a limit sell of gbpnzd. i am not sure of s/l though!

Quoting crazzypip
A/U short 1.8600 ish
E/U still short from 1.2350
U/C long at 1.0310
G/U is all over the place, not for me.

I am also using my old ema day cross system, its been good to me in the past.

CP
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd_daily_june2010.png Size: 27 KB
I am still in:
eu short @ 12300 from the 15th.
gj short @ 13227 from the 8th.
usdchf long @ 10900 as my last charts.
chfjpy @ short @ 8150.



Quoting coolshades
this thread is going to sleep!


commander are you still in your euro short?

i have taken a gbpaud short at 7250, based on my 50% fib and s/r confluence at 7325. i have posted charts of this earlier.

EDIT: stopped out. will look to re-enter in 7700 region. May to today feels like one long losing period and it is. but its my system and will carry on.

who else is in what trade?

i will likely take a long on cable if price dips below 5000. i am kicking myself for not taking a long at the 4850 region.
dont you have an euraud short from since time began? what stops on usdchf and gy?



i am not in any trade now. zillions of pips to recover

but will get there

Quoting bez3000
I am still in:
eu short @ 12300 from the 15th.
gj short @ 13227 from the 8th.
usdchf long @ 10900 as my last charts.
chfjpy @ short @ 8150.
euraud was about my only good trade for a while i closed it for +372 pips as it looked like it had been rejected by the 4000 large RN i now want back in at a higher price.
usdchf SL is 150 @ 750
gj SL is 13600

I have loads of pips to make up as well, looking forward to reading the commanders results for his euro shorts.
I am sure we will get there, i want to spend some time learning about volume to use on the 15m and maybe look at it on longer time frames in the future.
Coolshades is your goal to be full time someday?

Quoting coolshades
dont you have an euraud short from since time began? what stops on usdchf and gy?



i am not in any trade now. zillions of pips to recover

but will get there
absolutely my friend.

i want my pathetic, slimy looking micro acount to be 5 digits by end of this year. that's a huge ask, but then i have never lacked for ambition

by end of next year i want bill gates to be shivering in fear as my name creeps up on him on the Forbes list.

having relooked at my gbpaud trade, i realise that it broke my system rules, since there is a 4-5 day counter uptrend going on. also havng looked at it,i keep wondering if we cant trade a trendline break system. more on this later tonite.

Quoting bez3000
Coolshades is your goal to be full time someday?
wow some ambition lol, i am hoping for the next 2-3 years to make enought to put beens and toast on the table

Quoting coolshades
absolutely my friend.

i want my pathetic, slimy looking micro acount to be 5 digits by end of this year. that's a huge ask, but then i have never lacked for ambition

by end of next year i want bill gates to be shivering in fear as my name creeps up on him on the Forbes list.

having relooked at my gbpaud trade, i realise that it broke my system rules, since there is a 4-5 day counter uptrend going on. also havng looked at it,i keep wondering if we cant trade a trendline break system. more on this later tonite.
Hi Coolshades,

Sorry I am hopeless at posting charts.
My new trades are using an old day ema cross system and also trend s & r etc.

CP
Quoting crazzypip
Hi Zoli,

Thanks for the charts and for explaining.
Good learning from you.
CP
thx you are kind. Learning with me would be more appropriate. Lets do this thing! May the profit be with us!
Kind Regards zol
Quoting coolshades
this thread is going to sleep!


commander are you still in your euro short?

i have taken a gbpaud short at 7250, based on my 50% fib and s/r confluence at 7325. i have posted charts of this earlier.

EDIT: stopped out. will look to re-enter in 7700 region. May to today feels like one long losing period and it is. but its my system and will carry on.

who else is in what trade?

i will likely take a long on cable if price dips below 5000. i am kicking myself for not taking a long at the 4850 region.
Hi Coolshades,

Yes I am still selling Euros... trying to sink this ship before it takes us down: http://www.telegraph.co.uk/news/news...officials.html don't want to be part of the socialist experiment anymore!!!!

Regards,

Dan
thks for that link. i will lose a lot, and i mean a lot, or respeck for davy boy if that happens.

Quoting DanUK
Hi Coolshades,

Yes I am still selling Euros... trying to sink this ship before it takes us down: http://www.telegraph.co.uk/news/news...officials.html don't want to be part of the socialist experiment anymore!!!!

Regards,

Dan
Quoting DanUK
Hi Coolshades,

Yes I am still selling Euros... trying to sink this ship before it takes us down: http://www.telegraph.co.uk/news/news...officials.html don't want to be part of the socialist experiment anymore!!!!

Regards,

Dan
Oh Lord! Trying to screw every European tax payer to fund their failed experiment! I hope the govt stick to their guns.
Coolshades I would tend to be a little more aggressive on the entry 80.75 would do it for me.

S/R and round number at 81.00 are the first problem then I don't see any problems until a bit of noise at 79.50
Dan and anyone else could you look at the charts below showing my last trades and let me know what i am doing wrong in my Daly trading?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad.jpg Size: 145 KB
Click to Enlarge Name: gbpusd.jpg Size: 184 KB
Click to Enlarge Name: usdchf.jpg Size: 241 KB
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