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Trend Trading Chart Thread

  • #2,001
  • Aug 12, 2010 7:53pm Aug 12, 2010 7:53pm
N/U day pin, 50 fib, strong piv point. , good NZ news, aaa set up I think?
Going long now. sl 0.7050.
Wish me luck.
CP
  • #2,002
  • Aug 13, 2010 12:03am Aug 13, 2010 12:03am
Quoting coolshades
Actually it's me who called it idiotic and that's because I don't do touch trades
Ah, well then you are an idiot! Just kidding!!!

USD/JPY daily pin has hit first target at 86.00, taken some profit and moved to breakeven, let's see if we get some more movement on this.
  • #2,003
  • Aug 13, 2010 12:04am Aug 13, 2010 12:04am
Quoting crazzypip
N/U day pin, 50 fib, strong piv point. , good NZ news, aaa set up I think?
Going long now. sl 0.7050.
Wish me luck.
CP
I didn't get a pin on my feed... but good luck anyway!

Edit... just checked Oanda and there is a pin on that feed!
  • #2,004
  • Aug 13, 2010 12:04am Aug 13, 2010 12:04am
what was your sl?

Quoting DanUK
Ah, well then you are an idiot! Just kidding!!!

USD/JPY daily pin has hit first target at 86.00, taken some profit and moved to breakeven, let's see if we get some more movement on this.
  • #2,005
  • Aug 13, 2010 12:09am Aug 13, 2010 12:09am
Quoting coolshades
what was your sl?
84.70
  • #2,006
  • Aug 13, 2010 12:13am Aug 13, 2010 12:13am
Quoting coolshades
i have a pending short at 4500 with tp of 3500 and more. there was a bearish pin two days back, but yest was a bullish bar. however today again there has been a bearish engulfing bar, so on the strength of these two....
I traded that bearish pin from 590 to 490, but i dint see anything worth trading at the moment can you post a chart with your reasons?
  • #2,007
  • Aug 13, 2010 12:15am Aug 13, 2010 12:15am
great minds thinking alike then.

well one mediocre mind and one great mind anyway. wish i had taken that audusd long at 9000 ish.

next on my watch list is nzdusd on h4 . right now it shows a bearish pin at a good level too, two more hours to go

Quoting DanUK
84.70
  • #2,008
  • Edited 4:23am Aug 13, 2010 12:32am | Edited 4:23am
circled.

there is a lot of resistance below, so will be monitoring closely if triggered.

EDIT: pending buy on gcad at 6270, off h4 bullish pin bar which is off trendline and closes above key 6200 level.

EDIT: USDJPY half exited at 86ish, balance stopped out at b/e



Quoting bez3000
I traded that bearish pin from 590 to 490, but i dint see anything worth trading at the moment can you post a chart with your reasons?
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  • #2,009
  • Aug 13, 2010 4:52am Aug 13, 2010 4:52am
Hi Coolshades
A/U long 0.9000?
I am buying $$$, well apart from N/U long and even thats looking iffy now.

E/U short
A/U short
G/U/ short soon maybe
U/C long
U/J long
CP
  • #2,010
  • Aug 13, 2010 5:27am Aug 13, 2010 5:27am
no i didnt go long on au. i have taken half off NU now and rest to be.

au h4 was a good bearish pin to go short. missed it.

still in my ucad long. nothing else. wait and watch at 2pm for h4 candles.

Quoting crazzypip
Hi Coolshades
A/U long 0.9000?
I am buying $$$, well apart from N/U long and even thats looking iffy now.

E/U short
A/U short
G/U/ short soon maybe
U/C long
U/J long
CP
  • #2,011
  • Aug 13, 2010 8:37am Aug 13, 2010 8:37am
I like the look of this daily pin at a strong S&R area, if it stays like this i will place a trade this evening (before heading to the pub) and look to take half of the table @ 8800.
Anyone else?
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  • #2,012
  • Aug 13, 2010 9:02am Aug 13, 2010 9:02am
Update:

GU trade is not doing much but hovering around my entry price of 600.
GN trade went 150 pips in profit hit a strong S&R area and went straight back up making a bullish 4h pin. And because i was not paying attention and monitoring my trades properly i missed moving to BE and taking what should have been a 150 pip win. Now i am hovering -80 pips, still this is a learning proses better do this on a micro account than when i get to a mini or standard account. I hope trades like this will eventualy make me into the trader i want to be.
  • #2,013
  • Aug 13, 2010 9:09am Aug 13, 2010 9:09am
Quoting bez3000
You are correct i did enter early on this one and i tend to wait for PA when i am not as impatient. But after saying that when it looks good it looks good! At 50% Fib and S&R/Double bottom and TL touch i thought it looked a good trade so entered at 5600 SL 5500 if 5500 gets taken out that will be the TL and S&R level broken so might signal shorts. I think if it had only had the 50%fib and TL or S&R and TL i like to think i would have waited for a PA signal (but who knows).
So yes i should have waited but looked to good to miss and got impatient,...

thanks
  • #2,014
  • Aug 13, 2010 9:14am Aug 13, 2010 9:14am
i have a bearish in making, however my daily has 5 more hours to go!


quick update

nu - half exited at be. rest had taken profit
gcad - stopped out
usdjpy - remaining position had stopped out earlier today for b/e. however entered again on a bullish h4 pin bar at 2pm and exited half for 86.25 making up for my loss

right now balance of that is in trade with s/l = b/e



Quoting bez3000
I like the look of this daily pin at a strong S&R area, if it stays like this i will place a trade this evening (before heading to the pub) and look to take half of the table @ 8800.
Anyone else?
  • #2,015
  • Aug 13, 2010 9:26am Aug 13, 2010 9:26am
this is a huge engulfin bear and i am likely to leave a pending sell at 555 just under it actually, maybe 5540..

not sure about stops.
commander what abt you?
  • #2,016
  • Aug 13, 2010 9:35am Aug 13, 2010 9:35am
Quoting coolshades
this is a huge engulfin bear and i am likely to leave a pending sell at 555 just under it actually, maybe 5540..

not sure about stops.
commander what abt you?
I have tightened my stop on cable but will leave the trade open as price has not broken my support area of 15540 on this latest pullback. If this area brakes and i get stopped out i will know the weekly BEOB is pushing price down and i will short it from 15500.
  • #2,017
  • Aug 13, 2010 12:43pm Aug 13, 2010 12:43pm
Hi guys,

It's my birthday this weekend and the party begins now so I won't be around to post much but I just wanted to quickly mention Cable before I disappear into a drunken haze for the next 72 hours (long weekend!)...

I love the bearish engulfing bar on the weekly... it is a beauty but there is a major problem with it. It's trading right into 1.5500... which, if you would like to take a look at this weekly chart you will see is a major S/R level.

For that reason I will personally not be trading that setup (although don't let me put you off if you have reason to do so, this is after all just my personal opinion) but I will be watching to see if the current downward momentum breaks 1.55 or not. If it does I will be looking to get in on a sell but if it doesn't I will be watching for price to continue up.

Of course it could well break the 1.55 level so if you feel you want to trade it please don't let me put you off; but I thought I would just share my feelings about it before anyone jumped in.

Regards,

Dan
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  • #2,018
  • Aug 13, 2010 10:37pm Aug 13, 2010 10:37pm
happy b'day commander. remember the resolution is to be a millionaire this time next year.

audusd is also a weekly bearish engulfing and it too is going into resistance, so wait and watch there.

there is a very good bullish pin on gcad which i am likely to take tomorrow.

i dont know about you guys, but just pa on h4 and daily seem to have many setups. i watch the following - cable, euro,audusd, gbpchf, gbpcad, gbaud, euraud, eurchf, eurcad, euraud, usdcad, usdjpy, nzdusd, eurnzd, eurgbp

and on just these alone, there were enoigh set ups to make 2-4% a day this week at only 1:1. i didnt take most of them, but i am noticing this after a casual glance at most of the pairs today.

just watching h4 candles at 10 , 2 and 6 pm for set ups and daily at 10 pm.

for example some setups this week on h4:

series of long tops on cable on 9th aug. i didnt have the balls to take that, but i should have taken a bearish engulfing on 11th

bearish pin on euro on 6th or bearish engulfing on 11th (would have been 250 point now)

bearish engulfing on audusd on 11th aug or bearish pin yesterday

bullish engulfing on usdjpy on 11th or bullish pin yesterday

bearish pin on eurcad on 12th

bearish pin on eurgbp on 10th

bearish pin on eurnzd on 10th

bearish engulfing on eurchf on 10th

all of these taken would probably have yielded in excess of 1000 pips today. i have not even mentioned the daily set ups here.

ofcourse its very easy to look back and spot these in hindsight, but the point i want to make is, we, or atleast me, am obsessed about trading with the trend and all that, but pure play PA at key levels will give several great intraday or intraweek trades and i need to start trading these.

for example that gcad daily bullish pin i mentioned is something i really like and should enable me to recover my earlier loss on gcad.
  • #2,019
  • Aug 14, 2010 1:50am Aug 14, 2010 1:50am
Quoting coolshades
happy b'day commander. remember the resolution is to be a millionaire this time next year.

audusd is also a weekly bearish engulfing and it too is going into resistance, so wait and watch there.

there is a very good bullish pin on gcad which i am likely to take tomorrow.

i dont know about you guys, but just pa on h4 and daily seem to have many setups. i watch the following - cable, euro,audusd, gbpchf, gbpcad, gbaud, euraud, eurchf, eurcad, euraud, usdcad, usdjpy, nzdusd, eurnzd, eurgbp

and on just these alone, there were enoigh set ups...
Thank you!

I've never really advocated taking counter-trend trades in the past because we were mostly talking about "touch trades" and in my own personal experience doing that counter-trend is going to destroy you unless you happen to be exceptionally good at it!

However, these days we are looking more and more at PA to confirm our entries and if you happen to get a really good/clear setup at a major S/R level then you have a good reason to get in, even if it's counter-trend. You just have to have the right expectations for the type of trade you are in.

I do actually trade quite a few H4 and daily PA setups both with trend and counter-trend. I haven't actually ever traded a weekly bar though so the bearish engulfing setups that have appeared this week are really interesting. Out of them all I like EUR/USD the best because it formed and closed below 1.3000. I can see that dropping to 1.2500 if it breaks successfully and perhaps 1.2000 if we are going to see the return of the downtrend!

Regards,

Dan
  • #2,020
  • Aug 14, 2010 4:36am Aug 14, 2010 4:36am
Happy Birthday commander hope you have a good one. Lots of interesting setups to look over this weekend.

Quoting DanUK
Hi guys,

It's my birthday this weekend and the party begins now so I won't be around to post much but I just wanted to quickly mention Cable before I disappear into a drunken haze for the next 72 hours (long weekend!)...

I love the bearish engulfing bar on the weekly... it is a beauty but there is a major problem with it. It's trading right into 1.5500... which, if you would like to take a look at this weekly chart you will see is a major S/R level.

For that reason I will personally not be trading...
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