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Trend Trading Chart Thread

  • #1,681
  • Jun 30, 2010 12:50pm Jun 30, 2010 12:50pm
i am atlast going to enter the pond tonite (that's a definite maybe).

i rarely trade this pair but this set up looks too good. if the price bar closes below the 8200 level tonite, i will set a limit sell at 8200 with stop in 8350 region and targetting 8000.

so let's see.


bez -my commenting on your trades is like the pot calling the kettle black, given my woeful recent track record. but i am a shameless bugger and will just say that in all your trades, i would have paid attention to the counter trend.

for me a counter trend is anything that has 3 consecutive up or down bars because such bars are indicative of a strong move. i believe they are called black or white crows depending on whether they are bear or bull.

however, my trading system on daily is ultra cautious, so that's just me...
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_daily_june2010.png Size: 33 KB
  • #1,682
  • Jun 30, 2010 12:57pm Jun 30, 2010 12:57pm
Quoting coolshades
i am atlast going to enter the pond tonite (that's a definite maybe).

i rarely trade this pair but this set up looks too good. if the price bar closes below the 8200 level tonite, i will set a limit sell at 8200 with stop in 8350 region and targetting 8000.

so let's see.


bez -my commenting on your trades is like the pot calling the kettle black, given my woeful recent track record. but i am a shameless bugger and will just say that in all your trades, i would have paid attention to the counter trend.

for me a counter trend is anything that...
It's at 8192 right now, so let's see here
I'll go with ya on this one if it's closes below 8200
  • #1,683
  • Jun 30, 2010 5:18pm Jun 30, 2010 5:18pm
U/C tp at 1.0630 300 pips ish prof, after two bad weeks trading that feels better.
my A/U short also looking good.

Coolshades E/G looking good for a short. I will be watching.
Good luck
CP
  • #1,684
  • Jul 1, 2010 8:44am Jul 1, 2010 8:44am
Hi guys,

Been a bit quiet on this thread lately (possibly my fault!) so I thought I would just drop in and say I have taken an experimental long on GBP/USD at 1.4950 today (100 pip stop).

Regards,

Dan
  • #1,685
  • Jul 1, 2010 8:47am Jul 1, 2010 8:47am
Should post a chart really...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 010710.gif Size: 30 KB
  • #1,686
  • Jul 1, 2010 8:59am Jul 1, 2010 8:59am
presume you have moved to b/e?

Quoting DanUK
Should post a chart really...
  • #1,687
  • Jul 1, 2010 11:59am Jul 1, 2010 11:59am
Quoting coolshades
presume you have moved to b/e?
I am now.
  • #1,688
  • Jul 1, 2010 2:03pm Jul 1, 2010 2:03pm
A/U tp 0.8400 200 pips profit.
E/U bad news day for $$ still in but only just.
  • #1,689
  • Jul 1, 2010 3:26pm Jul 1, 2010 3:26pm
who else is short eurgbp? i missed the cable ride (as usual),because i was waiting to get in at 4800. anyway, time to go long on cable at suitable retracements. cable is long for me unless price closes below 4800.

euro i am less sure off. the fundamentals havent changed. if anything worsening with spain looming as the next big problem.
  • #1,690
  • Jul 1, 2010 3:50pm Jul 1, 2010 3:50pm
Quoting coolshades
who else is short eurgbp? i missed the cable ride (as usual),because i was waiting to get in at 4800. anyway, time to go long on cable at suitable retracements. cable is long for me unless price closes below 4800.

euro i am less sure off. the fundamentals havent changed. if anything worsening with spain looming as the next big problem.
Hi,

EUR/GBP looks good for a short but with all the crazy market behaviour lately I am waiting for PA signal to get in!

Regards,

Dan
  • #1,691
  • Jul 1, 2010 7:22pm Jul 1, 2010 7:22pm
Pending E$ southern trip @ 1.25. Any other takers?
  • #1,692
  • Jul 1, 2010 8:32pm Jul 1, 2010 8:32pm
E/U I think it will stay in this range for sometime.
Then hopefully go south fast. looking for a lovely pin or day doji now.
More news later today.
CP
  • #1,693
  • Jul 2, 2010 8:36am Jul 2, 2010 8:36am
my short eurgbp is still alive, but who knows what might happen. i am prepared for it to be stopped out.

in the meanwhile, i have closed 250 pips off a long on gbpcad and still have one small position open.

i somehow keep missing on going long on cable and euro,
  • #1,694
  • Jul 2, 2010 8:37am Jul 2, 2010 8:37am
E/U Hit my sl - 200 pips
Ok I think if it breaks 1.2600 It will go to 1.3000ish
CP
  • #1,695
  • Jul 2, 2010 9:34am Jul 2, 2010 9:34am
Time for me to clear my charts and start afresh next week being a bit more picky and only taking a trade at a good area with PA, no PA no trade.
  • #1,696
  • Jul 2, 2010 11:57am Jul 2, 2010 11:57am
Hi everybody, i've been reading this thread since yesterday,but have this disturbing questions. 1. When do i know a trend is no more valid or when do i know the the trend has changed? 2. Can i then trade the opposite side? Pls don't be piss off i'm new and need some education.example is the attach ej first going up then move down .pls how do i detect the change of trend.
Attached Image (click to enlarge)
Click to Enlarge Name: ej3.gif Size: 21 KB
  • #1,697
  • Jul 2, 2010 1:27pm Jul 2, 2010 1:27pm
Quoting kdee1
but have this disturbing questions. 1. When do i know a trend is no more valid or when do i know the the trend has changed? 2. Can i then trade the opposite side?
Sorry... but I loved your first question; it's ok though - I have a disturbing answer for you! There is no one size fits all answer here.

Some people use fundamentals or COT data to qualify a trend.

Personally I use a combination of technical methods.

Take a look at this post and then let me know if you are still confused... http://www.forexfactory.com/showpost...postcount=1000

Oh and do you mean in question 2 can you trade against the trend? If that's what you mean the answer is an absolute: no! In my humble opinion of course!

Regards,

Dan
  • #1,698
  • Jul 2, 2010 3:46pm Jul 2, 2010 3:46pm
Quoting DanUK
Sorry... but I loved your first question; it's ok though - I have a disturbing answer for you! There is no one size fits all answer here.

Some people use fundamentals or COT data to qualify a trend.

Personally I use a combination of technical methods.

Take a look at this post and then let me know if you are still confused... http://www.forexfactory.com/showpost...postcount=1000

Oh and do you mean in question 2 can you trade against the trend? If that's what you mean the answer is an absolute:...
Thanks Dan, i appreciate ur response
  • #1,699
  • Jul 3, 2010 1:58am Jul 3, 2010 1:58am
Hi Dan, pls i need some explanation about the 4 steps you talk about. I will take them one by one.

"The first step is to identify the nearby key levels of support and resistance that may be of use to us.We are not looking to map every single level but we want to highlight the important levels that could
be a useful place to enter or a barrier to a trade."

Pls what do u mean by key levels of S/R?. Do u mean a place where s/r meet at least 3times? In the
attach chart do i get u right? if not can u pls show me some examples, just kind of wanting to learn.
thanks
  • #1,700
  • Jul 3, 2010 2:03am Jul 3, 2010 2:03am
Quoting kdee1
Hi Dan, pls i need some explanation about the 4 steps you talk about. I will take them one by one.

"The first step is to identify the nearby key levels of support and resistance that may be of use to us.We are not looking to map every single level but we want to highlight the important levels that could
be a useful place to enter or a barrier to a trade."

Pls what do u mean by key levels of S/R?. Do u mean a place where s/r meet at least 3times? In the
attach chart do i get u right? if not can u pls show me some examples, just...
the chart didn't upload so i have to do it again.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
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