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Trend Trading Chart Thread

  • #1,961
  • Aug 11, 2010 6:02am Aug 11, 2010 6:02am
Quoting bez3000
I have been waiting for 1.6000 on GU.
For what? PA to sell?
  • #1,962
  • Aug 11, 2010 7:13am Aug 11, 2010 7:13am
Quoting DanUK
For what? PA to sell?
Sorry Dan should have said 1.5600.
  • #1,963
  • Aug 11, 2010 7:54am Aug 11, 2010 7:54am
commander..
long at 3000 off what?touch trade off a key level?

Quoting DanUK
Trendy thoughts... looking for G/U to trade at 1.5500 (long). EU might be a good entry at 1.3000 for those looking to get long?
  • #1,964
  • Aug 11, 2010 10:17am Aug 11, 2010 10:17am
Quoting coolshades
commander..
long at 3000 off what?touch trade off a key level?
Yeah 1.3000 was a touch trade - I had already used it as an entry but it seems to have broken quite well! Considerable selling of the Euro at the moment... could this be a trend change or just summer ranging???
  • #1,965
  • Aug 11, 2010 10:18am Aug 11, 2010 10:18am
Quoting bez3000
Sorry Dan should have said 1.5600.
Ah I see!

Just out of interest take a look at GU weekly chart - currently forms a bearish engulfing candle off of 1.6000 if the week finishes like that I might think about selling!
  • #1,966
  • Aug 11, 2010 10:29am Aug 11, 2010 10:29am
Quoting DanUK
Ah I see!

Just out of interest take a look at GU weekly chart - currently forms a bearish engulfing candle off of 1.6000 if the week finishes like that I might think about selling!
Interesting, can i ask what else you are in at the moment and what you are looking to enter?
Thanks
  • #1,967
  • Aug 11, 2010 10:48am Aug 11, 2010 10:48am
Hi Dan,

What do you think about going long around 1.2750, as I have an old TL on the daily from June 6th - June 30th? ( if we get any good PA there?)

I reckon this is still a Bull Trend.

All the best - JoelD
  • #1,968
  • Aug 11, 2010 12:05pm Aug 11, 2010 12:05pm
i lost 100 points on this, since i went long on a touch trade. well the touch went beyond it .

i am not sure about trend change.

my long term trend line kicks in only at 2500.price is actually at a key level now (2800) and i would love a bullish pinbar to form. lets see.

i am currently on a long usdcad off the weekly bullish pin bar..


Quoting DanUK
Yeah 1.3000 was a touch trade - I had already used it as an entry but it seems to have broken quite well! Considerable selling of the Euro at the moment... could this be a trend change or just summer ranging???
  • #1,969
  • Aug 11, 2010 12:31pm Aug 11, 2010 12:31pm
hope you took some profits off your long euros

commander - we shd get back to trading the 15m rigorously and disciplined. we have to be millionaires this time next year (well i guess you already own hawaii so you dont have to worry)



Quoting bez3000
Interesting, can i ask what else you are in at the moment and what you are looking to enter?
Thanks
  • #1,970
  • Aug 11, 2010 2:35pm Aug 11, 2010 2:35pm
Hi All,
I have been short on the E/U since tl break and also short A/U
I think Euro tar 1,2740 ish A/U tar 0.8850
My U/C is doing good my first target just hit now so be trade tar 2 -1.06707
This was the weekly and daily pin bar trade.

CP
  • #1,971
  • Aug 11, 2010 2:53pm Aug 11, 2010 2:53pm
Hi Dan,
What do think U/J pin bar set up soon maybe on day chart hiting the 15 year low res line at 84 80
Going for a long?

Also starting to like the look of U/CHF long, any thoughts?

CP
  • #1,972
  • Aug 11, 2010 3:05pm Aug 11, 2010 3:05pm
Quoting coolshades
hope you took some profits off your long euros

commander - we shd get back to trading the 15m rigorously and disciplined. we have to be millionaires this time next year (well i guess you already own hawaii so you dont have to worry)
Not enough wanted to hold and add to as the commander does but lost most of it, gutted. With all future trend trades i think i will trail half with 100 tsl and let the rest ride. Still this is how we learn i guess!
  • #1,973
  • Aug 11, 2010 3:20pm Aug 11, 2010 3:20pm
Quoting lovejoy80
That is one hell off an area on G/CAD that's for sure. If it wasn't Friday that 1HR pin could have pointed to a break. Whichever pair out of GU and UC decides to break higher / lower or reverse first will be the key...I know which one I favour

With regards EU and GU I would not be opening any longs here...they are nearing daily PPZ areas now so next week we'll see how strong this up trend actually is...I have my doubts as to whether we'll go much higher, but that's just my personal opinion.
Well price rose a bit higher than expected, but the reversal was definitely coming. The question now is is this this an opportunity to get in long again or a trend change?

For me I wouldn't be considering longs after today's big bearish move and considering this week alone we've broken the rising TL's and two significant PPZ's and a BRN without looking back.

It's always difficult IMO to pick the start of a trend change especailly when moves like today are occurring in the low volume summer trading period. Personally I'll be looking for PA on the daily or 4H TF at retracements for a short opportunity or a long opportunity @ the confluence of 50 fib and PPZ @ 1.2750 area.

On GU the break of 1.5820 PPZ was a shorting opportunity...unfortunately the daily close is well beyond this area to make a short at these levels unrealistic...so PA on a retracement to indicate a short is an opportunity or a long possibility @ 50fib, TL and 1.5500-5530 PPZ area.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu.gif Size: 15 KB
  • #1,974
  • Aug 11, 2010 3:51pm Aug 11, 2010 3:51pm
Quoting coolshades
hope you took some profits off your long euros

commander - we shd get back to trading the 15m rigorously and disciplined. we have to be millionaires this time next year (well i guess you already own hawaii so you dont have to worry)
Yes you're right (well not about hawaii unfortunately!!) I think I will try to get back to some 15m trades. To be honest, ever since I started trading the Central Banks system I stopped with the 15m stuff... so I am thinking about ditching the Central Banks trades and just go back to the good old stuff!
  • #1,975
  • Aug 11, 2010 4:03pm Aug 11, 2010 4:03pm
I dont think there is a need to ditch central banks system. I will continue with it. But the 15m system is very consistent albeit time consuming. Not many entries though off late


Quoting DanUK
Yes you're right (well not about hawaii unfortunately!!) I think I will try to get back to some 15m trades. To be honest, ever since I started trading the Central Banks system I stopped with the 15m stuff... so I am thinking about ditching the Central Banks trades and just go back to the good old stuff!
  • #1,976
  • Aug 11, 2010 4:08pm Aug 11, 2010 4:08pm
Quoting DanUK
Yes you're right (well not about hawaii unfortunately!!) I think I will try to get back to some 15m trades. To be honest, ever since I started trading the Central Banks system I stopped with the 15m stuff... so I am thinking about ditching the Central Banks trades and just go back to the good old stuff!
I need to get back to trading the 15m charts as well, the daily / 4h have been killing me of late.
  • #1,977
  • Aug 11, 2010 4:20pm Aug 11, 2010 4:20pm
why uchf? i see 6500 as top end of the range and price is trapped beneath it for some time. chart?

Quoting crazzypip
Hi Dan,
What do think U/J pin bar set up soon maybe on day chart hiting the 15 year low res line at 84 80
Going for a long?

Also starting to like the look of U/CHF long, any thoughts?

CP
  • #1,978
  • Aug 11, 2010 7:07pm Aug 11, 2010 7:07pm
Hi Coolshades,
I think if it can breakout of this 4 week range above 1.0600
I might be a good long trade.

CP
  • #1,979
  • Aug 12, 2010 2:16am Aug 12, 2010 2:16am
Quoting bez3000
Interesting, can i ask what else you are in at the moment and what you are looking to enter?
Thanks
Hi bez,

I will pop back later on when I have a bit more time... but as you probably know I've been using PA setups a lot more lately. For instance I am currently long off yesterday's USD/JPY daily pin...
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 22 KB
  • #1,980
  • Aug 12, 2010 2:30am Aug 12, 2010 2:30am
same boat. are you using low of pin as stop? or something else?

hope it yields is gazillion pips to buy a planet.

Quoting DanUK
Hi bez,

I will pop back later on when I have a bit more time... but as you probably know I've been using PA setups a lot more lately. For instance I am currently long off yesterday's USD/JPY daily pin...
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