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Trend Trading Chart Thread

  • #1,701
  • Jul 3, 2010 1:49am Jul 3, 2010 1:49am
Quoting kdee1
the chart didn't upload so i have to do it again.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.gif Size: 38 KB
  • #1,702
  • Jul 4, 2010 3:31am Jul 4, 2010 3:31am
nothing for me. my eurgbp short is still in place from 8200 and if the next daily closes above the downward trend line but without hitting my sl, i shall close my short for a loss.

in any case i have already recovered any possible loss on erugbp via a long on gbpcad.

major pairs:

cable - trending beautifully upwards,but as is often the case i missed this boat so far. i am only looking at longs till say about 5000 and will look at shorts below 4800

euro - undecided

euronzd - very nicely poised.

audusd - nothing. no trend to observe for me.

eurcad, and euraud are equally nicely poised for a break out or break down.
  • #1,703
  • Jul 5, 2010 7:20am Jul 5, 2010 7:20am
Some interesting charts i am currently watching:

chfjpy:
Looking for PA to short in the blue boxed area, 50% fib, prev support.

eurgbp:
As above.

eurnzd:
Looking to see what PA is forming to make a decision.

eurusd:
Looking for PA at 50% area marked by blue box.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chfjpy.png Size: 42 KB
Click to Enlarge Name: eurgbp.png Size: 43 KB
Click to Enlarge Name: eurnzd.png Size: 43 KB
Click to Enlarge Name: eurusd.png Size: 34 KB
  • #1,704
  • Jul 5, 2010 8:18am Jul 5, 2010 8:18am
am with you on eurnzd. will go long if daily closes above that trend line and if there is a retracement closer to the trendline.

eurusd, dont see a reason to short. i am staying out of it as of now since i cant read it.

Quoting bez3000
Some interesting charts i am currently watching:

chfjpy:
Looking for PA to short in the blue boxed area, 50% fib, prev support.

eurgbp:
As above.

eurnzd:
Looking to see what PA is forming to make a decision.

eurusd:
Looking for PA at 50% area marked by blue box.
  • #1,705
  • Jul 5, 2010 11:25am Jul 5, 2010 11:25am
Hi Guys,

I am intrested in this thread because i have next to trading also a job.

So longer term trades are nice next to daytrading.

Litle bit about my trading style.

pretty basic i like clean charts sup res important fib levels round nr's sometimes pivot for exact entry but thats basicaly it rest i look pattenrs etc.

My edge is cot data analysis mostly divergence in cot.
ANd macro fundamentals.

I hope i can bring in some charts here and whiling to get and give feedback.

Oke here a chart
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy.jpg Size: 115 KB
  • #1,706
  • Jul 5, 2010 11:39am Jul 5, 2010 11:39am
Quoting ingmarforex

My edge is cot data analysis mostly divergence in cot.
ANd macro fundamentals.
Hello and welcome!

Look forward to your analysis. I have looked into using COT data in the past and it seems to be quite good. I'm not much of a fundamental trader but would be happy to hear more about your "macro fundamentals" approach.

Regards,

Dan
  • #1,707
  • Jul 5, 2010 11:45am Jul 5, 2010 11:45am
Hi guys,

In the spirit of sharing and learning I thought we might have a little discussion about trendlines.

How do you draw your trendlines?

Do you use a certain number of hits? A certain type of candle to draw from? Is time a factor in how you draw them? Do you use highs and lows or do you use the close price?

I will share how I do it later on as I don't want to pretend I know everything - I want to hear a bit about what everyone else is doing!

Now, who wants to go first...?

PS... there is no right or wrong answer!
  • #1,708
  • Jul 5, 2010 12:03pm Jul 5, 2010 12:03pm
Hi DanUk !

Since you are playing the long term Jacko strategy on GBP/USD, i wanted to know if i got it right.

If the market were to reach the resistance line this week, you are going to sell this market somewhere between 1.5300-1.5200, right?

Also, to draw a resistance/support line, i try to make a line that doesn't cross the price at all. Meaning that i draw a line with the highest (lowest) points of the chart since the beginning of the current trend.
http://cdn.forexfactory.com/attachme...4&d=1278338804

PS: I also posted this post in the "DanUK Trend Trading Journal 2010", but i am a little confused about which thread you are following, so i posted it again here. Sorry for the double post
  • #1,709
  • Jul 5, 2010 12:30pm Jul 5, 2010 12:30pm
Quoting Dupont
Hi DanUk !

Since you are playing the long term Jacko strategy on GBP/USD, i wanted to know if i got it right.

If the market were to reach the resistance line this week, you are going to sell this market somewhere between 1.5300-1.5200, right?

Also, to draw a resistance/support line, i try to make a line that doesn't cross the price at all. Meaning that i draw a line with the highest (lowest) points of the chart since the beginning of the current trend.

PS: I also posted this post in the "DanUK Trend Trading Journal 2010",...
Hi,

That's ok - I am mainly posting in this thread and just using the journal for results (although I haven't posted them yet... I am going to post my six month results later on this week on my journal).

Regarding trendlines... I was actually hoping to get a bit of a discussion going about how people draw trendlines.

There are many ways to draw trendlines and I would not disagree with the one you have drawn however I would just add that as that trendline has not been touched in almost half a year I wouldn't enter the trade without confirmation first... at the moment it is possible that price might intercept that trendline in the 1.5300 area; if it does I would be looking for a pin bar or some other PA setup for an entry.

Regards,

Dan
  • #1,710
  • Jul 5, 2010 12:46pm Jul 5, 2010 12:46pm
Quoting DanUK
Hi guys,

In the spirit of sharing and learning I thought we might have a little discussion about trendlines.

How do you draw your trendlines?

Do you use a certain number of hits? A certain type of candle to draw from? Is time a factor in how you draw them? Do you use highs and lows or do you use the close price?

I will share how I do it later on as I don't want to pretend I know everything - I want to hear a bit about what everyone else is doing!

Now, who wants to go first...?

PS... there is no right or wrong answer!
Hi Dan i am quite flexible when i draw my trend lines, i use the bar high/low only and not the bar opening as you can see http://www.forexfactory.com/showpost...postcount=1704
I will use anything from the third touch to enter a trade (depending on other factors). So as long as i have two bar highs or lows connected i will happily use the next touch as a possible entry area.
  • #1,711
  • Jul 5, 2010 1:20pm Jul 5, 2010 1:20pm
Quoting bez3000
Hi Dan i am quite flexible when i draw my trend lines, i use the bar high/low only and not the bar opening as you can see http://www.forexfactory.com/showpost...postcount=1704
I will use anything from the third touch to enter a trade (depending on other factors). So as long as i have two bar highs or lows connected i will happily use the next touch as a possible entry area.
This is a good start. I like it - nice and simple; very similar to how I do it in fact.

Any other takers?

PS... I like your user title bez!
  • #1,712
  • Jul 5, 2010 10:28pm Jul 5, 2010 10:28pm
i use 3 touches to draw a tl. use hi/los. remove a tl once price has moved far away from it and as i have mentioned previously, if a tl is broken, i will be more cautious of trend direction trades
  • #1,713
  • Jul 6, 2010 8:02am Jul 6, 2010 8:02am
commander, is it longs ahoy now?

i am desperate to get into cable long but just not getting the right opportunity
  • #1,714
  • Jul 6, 2010 8:28am Jul 6, 2010 8:28am
I am the same looking for an entry around 5050.
  • #1,715
  • Jul 6, 2010 8:50am Jul 6, 2010 8:50am
Ang what you guys think about buying EUR/USD now?

We have a head and shoulders breakout on a longer term chart:

http://sobstvenbiznes.net/photogallery.php?photo_id=9
go go go
  • #1,716
  • Jul 6, 2010 9:35am Jul 6, 2010 9:35am
Quoting @40
Ang what you guys think about buying EUR/USD now?

We have a head and shoulders breakout on a longer term chart:

http://sobstvenbiznes.net/photogallery.php?photo_id=9
I am still looking to short around 750 depending on price action
  • #1,717
  • Jul 6, 2010 10:03am Jul 6, 2010 10:03am
Quoting bez3000
I am still looking to short around 750 depending on price action
Same here, i quickly draw a chart, the resistance is in the 1.2700-1.2800 area:
Attached Image (click to enlarge)
Click to Enlarge Name: chart-eurusd-2010-07-06.JPG Size: 36 KB
  • #1,718
  • Jul 6, 2010 2:08pm Jul 6, 2010 2:08pm
is anyone taking any new trades? i havent found anything worth entering.
  • #1,719
  • Jul 6, 2010 2:23pm Jul 6, 2010 2:23pm
Quoting coolshades
commander, is it longs ahoy now?

i am desperate to get into cable long but just not getting the right opportunity
Hi Coolshades,

Yes I believe so! It's too early to say that the trend has changed but technically speaking the old trend has ended and I think there are some good signs that things could head up.

As you know I have a long trade on GU and I am thinking about placing a long on EU in the 1.2400 - 1.2500 area; won't be entering blind though in case we are being shaken out for another drop so I will be looking for confirming PA to guide me.

Regards,

Dan

PS... I'm off to bed now... I've been reading far too many other threads here on FF and it shocks me how many people think they are gurus! I'm sure you know what I mean. Seriously, people who are buying dips and selling rallies who seriously believe they have the holy grail. Since the "commercial" side of this forum has taken flight I think it has really started to go down hill. Such a shame as it used to be a good place to learn.
  • #1,720
  • Jul 6, 2010 2:26pm Jul 6, 2010 2:26pm
Quoting coolshades
is anyone taking any new trades? i havent found anything worth entering.
Here is my trade ideal on short audusd
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_7_4_10.png Size: 121 KB
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