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Trend Trading Chart Thread

  • #2,021
  • Aug 14, 2010 5:34am Aug 14, 2010 5:34am
Greetings,

Happy Birthday DanUk! I hope you have a good one!

Just a quick observation/question... Has the focus of this thread changed from its original form? I mean in the beginnin well for the first 68 pages that I have been reading so far it has been about trading with the trend based off of bounces from the 50% fib level and other support S&R points. This seemed to be successful for you guys from what I read and also from my personal experience (I trade this way... or similar). It was for this reason that I was so happy to find a thread with people that traded similarly to me and I hoped to both learn and share with you guys.

However it seems that recently you guys have moved to more PA type setups and are less interested in the original method.

Is there a reason for this? I haven't read the whole thread yet, but did things start to go badly wrong for the H4 and Daily trend trades off of the 50% level?

Or

Did you guys just get bored with it?

I just want to be sure that I am not posting useless information into your thread if it has a new focus now.

Thanks
  • #2,022
  • Aug 14, 2010 10:19pm Aug 14, 2010 10:19pm
we havent given up the original system. you will still find us taking those trades and posting abt them here.

however the entries are fewer and hence we are looking at PA.

secondly the market is quite different from what it was nov 09 to may 09. the continuous trend of those days has disappeared and there is lot of volatility. hence we are looking at pa to confirm entries on the original system.

we folks are not the kind to chop and change systems...

btw feel free to post your trades and it will be good to know how you trade. one always learns.

Quoting PipRiderFX
Greetings,

Happy Birthday DanUk! I hope you have a good one!

Just a quick observation/question... Has the focus of this thread changed from its original form? I mean in the beginnin well for the first 68 pages that I have been reading so far it has been about trading with the trend based off of bounces from the 50% fib level and other support S&R points. This seemed to be successful for you guys from what I read and also from my personal experience (I trade this way... or similar). It was for this reason that I was so happy to find a thread...
  • #2,023
  • Aug 15, 2010 1:25am Aug 15, 2010 1:25am
Quoting coolshades
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.
I like the look of this pin as well and will be looking to trade it when the market opens tomorrow. I will be looking to TP @ 1.6430 area due to S&R so could be a nice 200 pip trade with a SL @ 1.6150 bottom of pin.
  • #2,024
  • Aug 15, 2010 1:33am Aug 15, 2010 1:33am
Hi Piprider,

I agree with coolshades, this is still a trend trading thread based on 4h & Daily setups as discussed on the first page. The only difference is now due to high volatility we trade PA setups at key levels as well as using PA to determine goos entries with the trend. I think most of us here have spent some time in the past on the J16 thread to learn about PA (i was a member for a short time) so i think combining PA with S&R and trend trading works very well and is something discussed allot in this thread.

Quoting PipRiderFX
Greetings,

Happy Birthday DanUk! I hope you have a good one!

Just a quick observation/question... Has the focus of this thread changed from its original form? I mean in the beginnin well for the first 68 pages that I have been reading so far it has been about trading with the trend based off of bounces from the 50% fib level and other support S&R points. This seemed to be successful for you guys from what I read and also from my personal experience (I trade this way... or similar). It was for this reason that I was so happy to find a thread...
  • #2,025
  • Aug 15, 2010 4:10am Aug 15, 2010 4:10am
Quoting bez3000
Happy Birthday commander hope you have a good one. Lots of interesting setups to look over this weekend.
Thank you! Last night's celebrations were pretty crazy so I have a cracking hangover now! Will get back to the charts a little later though - before tonight's party starts!!
  • #2,026
  • Aug 15, 2010 4:52am Aug 15, 2010 4:52am
Quoting PipRiderFX
Greetings,

Happy Birthday DanUk! I hope you have a good one!

Just a quick observation/question... Has the focus of this thread changed from its original form? I mean in the beginnin well for the first 68 pages that I have been reading so far it has been about trading with the trend based off of bounces from the 50% fib level and other support S&R points. This seemed to be successful for you guys from what I read and also from my personal experience (I trade this way... or similar). It was for this reason that I was so happy to find a thread...
Thank you! The celebrations have been good so far! Last night of partying tonight and then I'm going to have to rest for the whole week!

I think Coolshades and bez3000 have already answered your question but I thought I would chime in too!

The important point to make is that this thread is definitely still about trend trading and the basic principles/theory behind the original method is still the same however market conditions change and the easy to trade, reliable trends that existed a few years ago are not quite so consistent now. They still exist of course but they are a little more volatile at the moment which I think is due to the current economic crisis (I dare say when it’s all over – whenever that may be the markets should return to more stable trends). I think there are still turbulent times ahead and I'm not sure anyone knows for definite which country/currency is going to do better hence the choppy market at the moment. In the short term, summer months tend to range more than the rest of the year anyway which is why the focus has been more on PA at the moment.

So I would welcome your posts even if they are not triggered using PA... I still take the odd "touch trade" myself so you would certainly still be on topic.

And I should stress too that I prefer trend trades to counter trend trades. The only time I would personally get in on a counter trend move is when price forms a really good A+++ setup (and it would be preferably on a daily or weekly or maybe even monthly chart) and the location would have to be what I refer to as a key support/resistance level.

A chart speaks a thousand words so as an example of what I mean, two GBP/USD charts follow...

The first shows what I call a key s/r level around the 1.7000 level and the second is a close up the same weekly chart but showing a first class pin bar and perfect example of the kind of counter trend trade I would find acceptable. I think you'll agree... she's a beauty! Being counter trend though I wouldn't have been looking to find a runner - I would have looked to take profit at the bottom of the range (marked by the peach colored box) and key s/r level around 1.5800.

I hope that makes things clearer! I must admit I considered starting a second thread to avoid any confusion but I think the best thing would be for me to update the first post in this thread with an explanation of the PA addition.

Regards,

Dan
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  • #2,027
  • Aug 15, 2010 11:44am Aug 15, 2010 11:44am
Thanks guys for your updates. It sounds logical and I would love to hear more on your PA setups. I think that is a great idea about updating the initial post to include the new additions so to speak.

I have been trading this way for a little while now. I initially came from a fundamental background but have since looked to include technicals into my approach as I believe it helps with getting better entries.

Initialy as you guys do I look for a trending market, once I find this I look for price to pull back to key S&R levels (TL's, FIBS, Support and Resistance). When price reaches these levels I look to see a 1-2-3 reversal pattern and enter once I see this.

Have ay of you guys tried entering this way?
  • #2,028
  • Aug 15, 2010 1:20pm Aug 15, 2010 1:20pm
maybe.

cable and euro bearish engulfing on weekly has already been mentioned in previous posts.

i would also urge you to look at eurcad weekly
  • #2,029
  • Aug 15, 2010 1:49pm Aug 15, 2010 1:49pm
Hi Dan i hope you have sobered up by now , i think updating the first page is a good idea to stop people getting confused.

I must admit i am loving the PA setups at the moment.

Quoting DanUK
Thank you! The celebrations have been good so far! Last night of partying tonight and then I'm going to have to rest for the whole week!

I think Coolshades and bez3000 have already answered your question but I thought I would chime in too!

[color=black][font=Verdana]The important point to make is that this thread is definitely still about trend trading and the basic principles/theory behind the original method is still the same however market conditions change...
  • #2,030
  • Aug 15, 2010 4:35pm Aug 15, 2010 4:35pm
Happy B'Day DAN, bit late but, better late then never
  • #2,031
  • Aug 15, 2010 6:54pm Aug 15, 2010 6:54pm
Happy Birthday Dan.
A Leo Like myself, Leaders and also very generous, I should have known.
Sounds like youv been on a bender, hope you had fun.


Bloody N/U long pin trade let me down,
A/U E/U made up for it.
CP
  • #2,032
  • Aug 16, 2010 5:24am Aug 16, 2010 5:24am
Anyone else like the look of this 4h pin? Looks good to me
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  • #2,033
  • Aug 16, 2010 10:40pm Aug 16, 2010 10:40pm
didnt take that usdchf pin.

i am currently long on euro at 2850 as trend trade. i am very aware of the huge bearish weekly candle of last week that engulf's the previous three weeks!, so shall be trading this long very cautiously

btw i got +3% on my account yesterday just trading h4 PA candles. commander, i hope your hangover is winding down. let's have that new thread
  • #2,034
  • Aug 16, 2010 11:03pm Aug 16, 2010 11:03pm
obvious reasons
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  • #2,035
  • Aug 17, 2010 12:08am Aug 17, 2010 12:08am
Quoting coolshades
didnt take that usdchf pin.

i am currently long on euro at 2850 as trend trade. i am very aware of the huge bearish weekly candle of last week that engulf's the previous three weeks!, so shall be trading this long very cautiously

btw i got +3% on my account yesterday just trading h4 PA candles. commander, i hope your hangover is winding down. let's have that new thread
Nice work on the 3% which trades did you take?
  • #2,036
  • Aug 17, 2010 12:19am Aug 17, 2010 12:19am
Gcad you know about- exited that for 100 points, sell at 6380 on gbpchf off a bearish double top on h4, for 80 points

buy on eurnzd at 8070 off an engulfing h4 for 30 points (Exited this too early, would have yielded 200 points)

i am currently in a gbpaud short off bearish h4 engulfing off the 7534 mark (my entry is at 7450) and my euro long mentioned earlier.

in addition i have a long term pending sell on audusd off the weekly bearish engulfing on the break of the bar.

Quoting bez3000
Nice work on the 3% which trades did you take?
  • #2,037
  • Aug 17, 2010 7:16am Aug 17, 2010 7:16am
Quoting coolshades
Gcad you know about- exited that for 100 points, sell at 6380 on gbpchf off a bearish double top on h4, for 80 points

buy on eurnzd at 8070 off an engulfing h4 for 30 points (Exited this too early, would have yielded 200 points)

i am currently in a gbpaud short off bearish h4 engulfing off the 7534 mark (my entry is at 7450) and my euro long mentioned earlier.

in addition i have a long term pending sell on audusd off the weekly bearish engulfing on the break of the bar.
What are you using for exits i.e.Gcad what made you exit for 100 (perfect call)?
  • #2,038
  • Aug 17, 2010 8:06am Aug 17, 2010 8:06am
on h4, pa based trading, i am looking to exit at just 1:1. so my stop was 100 points and exit 100 points.

this does mean that i miss the long runs. for example i exited the previously mentioned gaud for 100 points (taking my day total to 2% today) but gaud is more than 200 points from my entry now.

i think one can exit half the lot at 100 points and then leave the rest running, but that will mean an initial higher lot and therefore higher risk.

will be interested in what commander does about pa trades.

Quoting bez3000
What are you using for exits i.e.Gcad what made you exit for 100 (perfect call)?
  • #2,039
  • Aug 17, 2010 8:15am Aug 17, 2010 8:15am
I think you are doing very well making 5% in two days, wow keep this up and you would make 50% of your account in a month. I would be very happy with that

Quoting coolshades
on h4, pa based trading, i am looking to exit at just 1:1. so my stop was 100 points and exit 100 points.

this does mean that i miss the long runs. for example i exited the previously mentioned gaud for 100 points (taking my day total to 2% today) but gaud is more than 200 points from my entry now.

i think one can exit half the lot at 100 points and then leave the rest running, but that will mean an initial higher lot and therefore higher risk.

will be interested in what commander does about pa trades.
  • #2,040
  • Aug 17, 2010 8:18am Aug 17, 2010 8:18am
thks, but i have not even recovered our losses of april may still!!!



Quoting bez3000
I think you are doing very well making 5% in two days, wow keep this up and you would make 50% of your account in a month. I would be very happy with that
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