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Trend Trading Chart Thread

  • #1,821
  • Jul 16, 2010 4:47am Jul 16, 2010 4:47am
EUR/USD is approaching 38.2 Fib retracement (Oct 2009 high, June 2010 low) at 1.31. I have been long up to now but will be ready to tp
  • #1,822
  • Jul 16, 2010 5:01am Jul 16, 2010 5:01am
E/U long 1.2900 tp 13000 good trade, so why dident I take it.

Maybe now we can think about going short?

CP
  • #1,823
  • Jul 16, 2010 5:25am Jul 16, 2010 5:25am
Quoting herzog21
it seems to me the pair has been in a sort of ranging mode for the past 2 week on H4 chart. no NEW SIGNIFICANT highs or lows either.
so i think i wil stay out of this.
Hi,

In my humble opinion G/U is currently in an uptrend.

If you take a look at my chart... the yellow arrow marks the last swing high in the downtrend at about 1.4770 - you will then see the green arrow which marks where price pushed up above this and then closed above on 15th June. Ever since then we have been in an uptrend.

Regards,

Dan
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  • #1,824
  • Jul 16, 2010 5:28am Jul 16, 2010 5:28am
Quoting JoelD
Does anyone have an opinion as to which way the trend is now re the Euro/Usd?

I have been trying to go short since the price was around 1.2200, and getting stopped out pretty much all the time.

The price is now at (I believe) a major resistance and could be a good place to sell? (presuming the bear trend is still active??).

All the best - JoelD
Hi JoelD,

Bull trend is in place... however, 1.3000 is an important level so don't buy into it! Buy above it if it makes it!

Regards,

Dan
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  • #1,825
  • Jul 16, 2010 5:32am Jul 16, 2010 5:32am
Quoting crazzypip
G/U not for me thanks,

But I might take a long E/U from 1.2900ish target 1.3000
CP
Hi CP,

I went long this morning at 1.2900 funnily enough... did it in a crazy way in fact! Used a two pip stop loss!!! It's a different strategy that I am testing so I won't go into details but thought it worth a mention. If it works out I will post some updates in my intraday journal!

Regards,

Dan
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  • #1,826
  • Jul 16, 2010 5:35am Jul 16, 2010 5:35am
Quoting crazzypip
E/U long 1.2900 tp 13000 good trade, so why dident I take it.

Maybe now we can think about going short?

CP
Struggling to break 1.3 at the moment... but I won't be selling unless we get a good PA signal first... as it is contrary to the current trend.

Regards,

Dan
  • #1,827
  • Jul 16, 2010 5:37am Jul 16, 2010 5:37am
Quoting coolshades
commander,

are you still in your long from 495?
You bet! Looking to add around 1.52
  • #1,828
  • Jul 16, 2010 5:39am Jul 16, 2010 5:39am
Quoting dan89
Anybody looking at GBP/USD. Close to major resistance 1.5520, Confluence with BRN 1.5500. If 4hour chart produces Inside Bar then i may enter a short trade on 4hr or look for short trades on 15 min chart. It has broken though its daily channel but stalled just before resistance. Anyone else ?
Hi dan89,

Personally I would say shorts are out for the moment... the trend is up for now so I would be careful selling.

Regards,

Dan
  • #1,829
  • Jul 16, 2010 7:35am Jul 16, 2010 7:35am
Thanks Dan,
2 pips stop loss, yes I like it!!! please keep us updated.
as always great trading from you.
E/U watching this now at 12900.
CP
  • #1,830
  • Jul 16, 2010 8:45am Jul 16, 2010 8:45am
good for you. i keep missing entries always but, yes, a retracement is needed.


Quoting DanUK
You bet! Looking to add around 1.52
  • #1,831
  • Jul 16, 2010 10:20am Jul 16, 2010 10:20am
Quoting dan89
Anybody looking at GBP/USD. Close to major resistance 1.5520, Confluence with BRN 1.5500. If 4hour chart produces Inside Bar then i may enter a short trade on 4hr or look for short trades on 15 min chart. It has broken though its daily channel but stalled just before resistance. Anyone else ?
Well i decided to take this trade. Entry just below bullish bar that engulfed the other smaller bars, Exit was at the first area of resistance.
+45 Pips
  • #1,832
  • Jul 16, 2010 10:28am Jul 16, 2010 10:28am
Quoting DanUK
Hi,

In my humble opinion G/U is currently in an uptrend.

If you take a look at my chart... the yellow arrow marks the last swing high in the downtrend at about 1.4770 - you will then see the green arrow which marks where price pushed up above this and then closed above on 15th June. Ever since then we have been in an uptrend.

Regards,

Dan
Thanks for the input. Personally i think this is still a retrace. If price continues to go up and closes above the resitance level at 1.5520 then retraces making a higher low (at 38, 50, 60 Fib) and continues upwards then thats when i think we would be in an uptrend. I would post my chart but the size comes out too big for some reason ..
  • #1,833
  • Jul 17, 2010 12:29pm Jul 17, 2010 12:29pm
is it just me or are entries on the 50% fib system increasingly hard to come by? i know many trade other systems but i am specifically asking about commander's system. i guess that's one reason commander and us are looking at intraday systems.

anyway, for me.

cable - long once price reaches 5200 (trendline intersection) and closes above

euro - same for 2800, though 2800 might never come!

usdchf - will go short around 1.06 ish

eurcad - might go long around 1.34 ish or even 1.33ish

eurnzd - short below 1.8

eurgbp - very interestingly poised. a close above 85 might prompt longs.

all these are on watch list and no current trades for me.
  • #1,834
  • Jul 17, 2010 1:20pm Jul 17, 2010 1:20pm
Quoting coolshades
is it just me or are entries on the 50% fib system increasingly hard to come by? i know many trade other systems but i am specifically asking about commander's system. i guess that's one reason commander and us are looking at intraday systems.

anyway, for me.

cable - long once price reaches 5200 (trendline intersection) and closes above

euro - same for 2800, though 2800 might never come!

usdchf - will go short around 1.06 ish

eurcad - might go long around 1.34 ish or even 1.33ish

eurnzd - short below 1.8

eurgbp - very interestingly...
I don't think they are neccessarily... you just have to look in the right places. However, I did once say that you are less likely to see regular 50% retraces watching daily charts which is why I use horizontal s/r levels as a core part of the strategy.

I would just add though that summer time typically produces range bound markets. I have no explanation as to why, perhaps it's due to all the major players taking holidays! Seriously though, go back in time and you will see that July/August are often range months.

My advice would be to keep an eye on the major s/r levels and look for PA signals at them to give you a clue.

Oh and I just wanted to add... EUR/GBP: I agree 0.8500 is the decision maker for me... if it fails we will go back down but if it gets above it we might have to start looking for longs.

Regards,

Dan
  • #1,835
  • Jul 17, 2010 1:35pm Jul 17, 2010 1:35pm
Quoting DanUK
My advice would be to keep an eye on the major s/r levels and look for PA signals at them to give you a clue.
Case in point... EUR/USD - whilst it's not the most attractive pin bar I've ever seen it comes right off of 1.3000, a major level that could push price back down to 1.2500.

Strictly speaking it is against the current trend but it's worth taking note of nonetheless.

Regards,

Dan
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  • #1,836
  • Jul 17, 2010 2:01pm Jul 17, 2010 2:01pm
I use the m.a.c.d for all my trades. I like to use the 1 month and 1 week to see if the sign is strong or weak. Also for major support and resistence. I also use the 1 day and the 1 hour m.a.c.d. Charts to get my one day sign. All signs should match . I like to use retracement to get my confirmation. The retracement should come right after the news.

It has work for me in a bear and bull market
  • #1,837
  • Jul 17, 2010 6:15pm Jul 17, 2010 6:15pm
I think this week I will be looking for further strenth in the euro on all pairs.
Something is telling me this bull run is not over.
My targets E/G is 0.8600 E/U 1.3100 E/A 1.5000 E/N 1.8300
E/Cad on fire, wow! who knows.
Ok I could be wwwwrong.
CP
  • #1,838
  • Jul 18, 2010 3:05am Jul 18, 2010 3:05am
Dan, Where did you get your Better Volume Indicator ? I have downloaded the file for eminiwatch but its just a document/code file for mt4. I have no idea how to convert it into an indicator .. any help ?
  • #1,839
  • Jul 18, 2010 3:15am Jul 18, 2010 3:15am
so are you taking a short on that?

Quoting DanUK
Case in point... EUR/USD - whilst it's not the most attractive pin bar I've ever seen it comes right off of 1.3000, a major level that could push price back down to 1.2500.

Strictly speaking it is against the current trend but it's worth taking note of nonetheless.

Regards,

Dan
  • #1,840
  • Jul 18, 2010 4:24am Jul 18, 2010 4:24am
Quoting dan89
Dan, Where did you get your Better Volume Indicator ? I have downloaded the file for eminiwatch but its just a document/code file for mt4. I have no idea how to convert it into an indicator .. any help ?
dan89 you can find it here:
http://www.forexfactory.com/showpost...48&postcount=1
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