Right... got to pop out for a little while now; will be back to continue answering questions later!
Regards,
Dan
Regards,
Dan
Advanced Manual Stop Loss Strategy 2 replies
Advanced Strategy Tester 12 replies
DanUK's Intraday Experiment 279 replies
DanUK Simple EUR/USD Trading Journal 2009 1,005 replies
DanUK Trend Trading Journal 2010 433 replies
DislikedHi Entropy,
No I didn't have any trades there/then. Is there something you see that you might have sold? If so please point it out and I will take a look - but I didn't see anything tradable.
Regards,
DanIgnored
DislikedHello again,
At that time I was looking for an entry in the 1.3500/1.3600 area......Ignored
DislikedHi Dan,
Well the thread looks like its going very well, i go away for a week and have to catchup through 8 pages of posts! lol
I have attached a couple of charts i found interesting:
euraud:
I am currently short of the S&R area shown on the chart.
usdsgd:
Looking to short if price makes it up to 1.3450 area.
Thats all i can find that i would call treatable in the charts i monitor at the moment.
All comments welcome.Ignored
DislikedSet your alarms this could be on the playbook today, 50% retrace of last rallyIgnored
DislikedDan have a look at this CHF/JPY chart would this be the sort of trades you look for?
Or would you prefer to focus on the longer term trend and larger swing highs and lows for the fibs?
because the longer term trend with this pair is down and that fib only uses a few days data.
Im still going to keep my eye on this because the yen may fall further with hints of more BOJ intervention. I don't want to be on the wrong side of that if it happens again.Ignored
DislikedHello all. I am a little gun shy posting here as I am extremely new to FX. I have a few quetions that I need to ask as a check on learning if you will.
1) When I look at a daily chart and establish that there is a downward trend, am I waiting for the peak of a swing-high retracement to take place before going short with the pair? Is this the "Big Picture" of the strategy, and we use S/R and Candlestick patterns to indicate the end of the swing and enter the pair?
2)In the initial lesson you showed two charts. One was the daily USDJPY showing...Ignored
DislikedThank you gododdin for the reply and your encouragement. I did believe counter trend trading is what I would have been referring to. However, my interpretation of the chart at the time of the retracement would had been that it was not a retracement at all and a change in the trend entirely and therefore we would had been trading with the trend.
In other words, for the given example I would have had no idea that around 7 Aug the USDJPY would pivot and the downward trend would resume.
I guess this arises another question and that is, when reading...Ignored
DislikedHi Entropy/Dan
I think that's a fair question
At your exit point, a channel could not be drawn, so that theory is out (sorry kiwi trader)
To answer your question, I think Dan looks to exit at a S/R level, preferably "a round number" with confirmation of a trend change using lower lo / lower high sequence breakdown
Referring to your exit:
Following right on your exit - price did infact change to higher lo, higher hi sequence (uptrend)
So why did we not exit?
Maybe because:
1 The fact that price gapped up at your exit, we could expect the...Ignored
DislikedHi Eric - you are right about Dan!
you raise some good points that I too struggle with. I've put together a quick diagram (using Paint so it's pretty rough!) and would be very grateful to have Dan's take on this.
Dan -you said in another post that you would be happy to discuss further the role that major S/R has in showing us where the trend is going to change. Would it be relevant to this?
Many thanksIgnored
DislikedHello Dan, please, lets we start to identify long term trading opportunities which are ready or forming now, using charts. It would be the best way to master great staff you teatch us. We can place charts and discuss the situation. Practic is the best way to become a master. By the way, I noticed that fibo levels on 1H help much to enter in trend on retracement. Thank you very much for your great and clear teatching! Regards,Ignored