Using the DASR for successful trading | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Successful Trading & Determining the Probability of a Trading System 10 replies

Successful Fundamentals trading (DAY Trading WILL BE Ignored) 17 replies

Is anyone successful using a large stop loss? 6 replies

New successful trading idea using fibonacci expansion 5 replies

Any Successful trader here using Oanda? 38 replies

Attachments: Using the DASR for successful trading
Exit Attachments

Using the DASR for successful trading

  • #81
  • Jan 18, 2012 4:23am Jan 18, 2012 4:23am
Don't know whether you noticed the difference between the two charts I posted above (EURUSD and EURCHF) The daily vegas tunnel on the EURUSD chart is narrow (fib lines very close togther) whereas on the EURCHF chart they are far apart although the tunnel is at a nice angle. The reason for that is that is that with EURCHF price moves a lot less and a lot slower so the tunnel widens significantly.

Good to use that if you want a fast trade - avoid wide tunnels!

rgds
  • #82
  • Jan 18, 2012 4:57am Jan 18, 2012 4:57am
Well I'm 18 pips up on EURCAD (just put on a 8 pip trailing stop) and just got into profit on EURCHF
  • #83
  • Jan 18, 2012 5:19am Jan 18, 2012 5:19am
Well stopped out on EURCAD for 10 pip profit - still in EURCHF

Someone asked me what about candlestick confirmation before entering a trade. Well it's not a bad idea really. And you can of course go down to the lower time frame for that. I really like the 30 min time frame because not quite so many fake-outs as 15 min or 5 min. Have a look at the one below you can see that around 8.00am (GMT) this morning we had a great reversal candle - good long signal!!

rgds
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 30 min.gif Size: 19 KB
  • #84
  • Jan 18, 2012 6:47am Jan 18, 2012 6:47am
Hi everyone here's a wrap up of the position on a few pairs:

NZD USD - 1 hr chart - bounced off DASR this morning reversing off fib resistance – NO TRADE
EURCAD - 30 min - after returning to DASR looks like a bounce off but await candlestick confirmation
GBPJPY - 4hr – nice bounce off DASR – I am long at the moment since 117.99 (see chart)
EURJPY – 15 min chart – nice bounce – I missed it!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4hr.gif Size: 20 KB
  • #85
  • Jan 18, 2012 6:57am Jan 18, 2012 6:57am
EURCHF - 4 hr chart - I'm still short from 1.2092 - looks like a long term hold
EURUSD - 30 min - nice bounce off DASR on 30 min could break through fib resistance
AUDUSD - 1 hr chart - looks like a nice but will look at next candle for confirmation
AUDCHF - 4 hr chart - countertrend - nice sell trade - 12.00pm candle at 98.18
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 30 min.gif Size: 20 KB
Click to Enlarge Name: audchf 4 hr.gif Size: 21 KB
  • #86
  • Jan 18, 2012 7:04am Jan 18, 2012 7:04am
Please do ask any questions if you don't understand anything.

Please note that i am going down to lower time frames only to look for trades in strongly trending pairs. Also looking for a nice candlestick confirm for a nice strong up or down move!

rgds
  • #87
  • Jan 18, 2012 7:07am Jan 18, 2012 7:07am
AUDUSD - 1 hr chart - possible reversal - no candlestick confirmation for long yet - check start of next candle!
  • #88
  • Jan 18, 2012 7:14am Jan 18, 2012 7:14am
Darn it! I should have had a pending buy order on the other side of that fib resistance at 2981

Nice candle confirmation on 30 min should go through 3000 now??
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad 30 min.gif Size: 21 KB
  • #89
  • Jan 18, 2012 7:55am Jan 18, 2012 7:55am
Quoting jmtini
Hi everyone here's a wrap up of the position on a few pairs:

NZD USD - 1 hr chart - bounced off DASR this morning reversing off fib resistance – NO TRADE
EURCAD - 30 min - after returning to DASR looks like a bounce off but await candlestick confirmation
GBPJPY - 4hr – nice bounce off DASR – I am long at the moment since 117.99 (see chart)
EURJPY – 15 min chart – nice bounce – I missed it!!
Hi Jerry,

In EURCAD do you entry long at 1.2978? Normally what's your TP and TS setups?

In general how do you use Fibo levels?

In EURJPY - 15 min chart - my chart is very confusing to me. Please explain how I read it.

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 29 KB
Enter Signature
  • #90
  • Jan 18, 2012 8:22am Jan 18, 2012 8:22am
Quoting maudur
Hi Jerry,

In EURCAD do you entry long at 1.2978? Normally what's your TP and TS setups?

In general how do you use Fibo levels?

In EURJPY - 15 min chart - my chart is very confusing to me. Please explain how I read it.

Thank you.
Hi Mandur
Yes went long at 1.2978 and closed at 1.30000 because in countertrend I was not sure of TP - probably the wrong decision in hindsight!
Use fib level as a gauge of strength of price movement! EURCAD shot through that fib level so it was indication of a good trade set-up!
EURJPY - Price action was nowhere near DASR on 30 min chart so I went down to the 15 min chart to search for a good entry point (see attachment)
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 15 min.gif Size: 19 KB
  • #91
  • Jan 18, 2012 8:30am Jan 18, 2012 8:30am
EURCAD

Guys as you can see from the chart, my EURCAD buy at 1.2978 was a great trade and I should not have closed it!

What I should have done is TRACKED IT using the 5 min chart. Only close it when price action EVENTUALLY breaks through (reversal) the DASR on the 5 min chart!

Let's see what happens in the future on the 5 min chart and eventually we can see how many pips I could have got!!
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad 5 min.gif Size: 18 KB
  • #92
  • Jan 18, 2012 8:34am Jan 18, 2012 8:34am
Quoting jmtini
Hi Mandur
Yes went long at 1.2978 and closed at 1.30000 because in countertrend I was not sure of TP - probably the wrong decision in hindsight!
Use fib level as a gauge of strength of price movement! EURCAD shot through that fib level so it was indication of a good trade set-up!
EURJPY - Price action was nowhere near DASR on 30 min chart so I went down to the 15 min chart to search for a good entry point (see attachment)
hi, first post here, i like these dynamic sup and res ideas.
The chart you posted in your last post, i understand why you entered but did u enter on close of the red candle showing a lower wick rejection, or did u enter on close of green candle ?
  • #93
  • Jan 18, 2012 10:20am Jan 18, 2012 10:20am
Quoting deankenny21
hi, first post here, i like these dynamic sup and res ideas.
The chart you posted in your last post, i understand why you entered but did u enter on close of the red candle showing a lower wick rejection, or did u enter on close of green candle ?

Hi Dean
Thanks for visiting! I've posted a 30 min chart showing where one could take the trade (circled in yellow) Basic cantlestick stuff really. Just looking for a bullish one!

Typical in a countertrend situation, price reversed in a hurry but tracking the trade on 5 min chart we could have got out around 12920/25 (circled)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad 30 min.gif Size: 21 KB
Click to Enlarge Name: eurcad 5 min.gif Size: 23 KB
  • #94
  • Jan 18, 2012 10:51am Jan 18, 2012 10:51am
Quoting jmtini
Hi Dean
Thanks for visiting! I've posted a 30 min chart showing where one could take the trade (circled in yellow) Basic cantlestick stuff really. Just looking for a bullish one!

Typical in a countertrend situation, price reversed in a hurry but tracking the trade on 5 min chart we could have got out around 12920/25 (circled)
what do u think of the 4hr usdchf chart at the moment, we have a rejection of the hourly DASR if im looking correctly along with the S1 line
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 40 KB
  • #95
  • Jan 18, 2012 11:46am Jan 18, 2012 11:46am
Quoting deankenny21
what do u think of the 4hr usdchf chart at the moment, we have a rejection of the hourly DASR if im looking correctly along with the S1 line

Yes not bad - you're absolutely right - I think you've got the hang of this

I 'm not particularly keen on the pair - a lot of "fake -outs" on USDCHF but dollar is weak at the moment so in a strong trend situation it's as good as any other!
  • #96
  • Jan 18, 2012 11:46am Jan 18, 2012 11:46am
Quoting jmtini
Yes not bad - you're absolutely right - I think you've got the hang of this

I 'm not particularly keen on the pair - a lot of "fake -outs" on USDCHF but dollar is weak at the moment so in a strong trend situation it's as good as any other!

already stopped out lol never mind
  • #97
  • Jan 18, 2012 11:49am Jan 18, 2012 11:49am
well everyone, I just picked up 45 pips on AUDUSD and EURJPY after those nice buy signals on their 1 hr and 15 min charts respectively.

Many people would have tried to short EURUSD but because it was WAY ABOVE our 4 hr DASR we were only looking for long trades!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 4hr.gif Size: 20 KB
Click to Enlarge Name: eurusd 15 min.gif Size: 21 KB
  • #98
  • Jan 18, 2012 11:51am Jan 18, 2012 11:51am
Quoting deankenny21
already stopped out lol never mind
Yep, as I said! I never have have the pair on my platform
  • #99
  • Jan 18, 2012 2:44pm Jan 18, 2012 2:44pm
Hi everyone

We were talking about "candlestick confirmation" on the lower time frames. Just in case you don't know the candlestick shapes, patterns, etc., that denote bullish/bearish price movement - I have attached here a PDF guide for you. Quite easy to understand!


rgds
Attached File(s)
File Type: pdf Candle Reversal Patterns.pdf   139 KB | 388 downloads
  • #100
  • Jan 18, 2012 2:54pm Jan 18, 2012 2:54pm
It's a great idea later on the evening towards the end of the trading day (european trading day) or very early tomorrow morning to check the daily and weekly charts for ALL your favourite trading pairs. It gives you a far better picture of the situation - trend direction & strength.

For instance, if at the end of today we have 2 bullish candles on EURUSD then it's highly likely we're going to see another bullish day tomorrow (at least the morning session). 12750 is now the target in my view - which is the DASR on daily chart!


rgds
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 16 KB
1 trader viewing now