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Using the DASR for successful trading

  • #461
  • Mar 30, 2012 1:34am Mar 30, 2012 1:34am
Hi everyone

I closed my EURUSD overnight trade at +50 should have kept it open!!

I'm long on EURUSD and GBPUSD - 8.00am bar

short USDCHF - 8.00am bar

I really think we'll see 16000 broken and 13400 today on euro
  • #462
  • Mar 30, 2012 1:48am Mar 30, 2012 1:48am
there we go GBPUSD!!!
  • #463
  • Mar 30, 2012 7:07am Mar 30, 2012 7:07am
Hi everyone

Lovely day today for trading. Just press the buy button really!

took 40 pips on GBPUSD - still in EURUSD long (see attached) I still think we're going up to 13400/3450 soon!!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4hr.gif Size: 22 KB
  • #464
  • Mar 30, 2012 7:14am Mar 30, 2012 7:14am
Ok - we really do have to look at the 30 min time frame (maybe even 15 min) when the trend is strong and price action drops down to the DASR support level.

Here we have the GBPUSD 30 min chart. Just wanted to point out something which occurs very often (we need to expect it!). See the white circles.price action will bounce off and VERY OFTEN RETEST the support level! We should expect it. So if it looks like happening on the next 30min bar, just TP and re-enter at the support line.

It is best to only go down to the lower time frames ONLY IN STRONGLY TRENDING CONDITIONS!!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 30 min.gif Size: 20 KB
  • #465
  • Mar 30, 2012 7:39am Mar 30, 2012 7:39am
Quoting jmtini
Ok - we really do have to look at the 30 min time frame (maybe even 15 min) when the trend is strong and price action drops down to the DASR support level.

Here we have the GBPUSD 30 min chart. Just wanted to point out something which occurs very often (we need to expect it!). See the white circles.price action will bounce off and VERY OFTEN RETEST the support level! We should expect it. So if it looks like happening on the next 30min bar, just TP and re-enter at the support line.

It is best to only go down to the lower time frames ONLY...
Testing DSAR support!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 32 KB
  • #466
  • Apr 1, 2012 1:17pm Apr 1, 2012 1:17pm
Hi everyone

Not a good week for EURUSD trading pair as we saw sideways movement for most of the week as well as a lot of see-sawing.

Makes the case for moving away from the fixation with EURUSD and looking at other pairs which may very well offer better opportunities.

How are we going to find out or anylise the best pairs to trade? I'll get to that next.
  • #467
  • Apr 1, 2012 2:20pm Apr 1, 2012 2:20pm
We it's quite easy to check the trend strength by comparing the tunnels position in relation to each other. When a pair have been trending for some time, the tunnels line up nicely and MOVE AWAY from each other. That's a great pair to trade because one's trading a nice strong trend. If we look at EURUSD we see that ALL the tunnels are close and colliding - that causes the zig-zag, see-sawing price movement we've see in the last few days (I've marked the position of the 4hr tunnel by the horizontal magenta line) !!

Comparing EURUSD with say USDJPY, we see a big difference in the position of the tunnels (large gap between the daily and weekly tunnels) so obviously a better pair to trade - that is reflected on it's 4 hr chart too!

You can do the same exercise with all the trading pairs. EURJPY is another nice pair at the moment. GBPUSD looks like breaking into a good bullish trend but still too early to tell from the chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 21 KB
Click to Enlarge Name: usdjpy daily.gif Size: 17 KB
  • #468
  • Apr 1, 2012 2:30pm Apr 1, 2012 2:30pm
Quoting Tedge UK
Testing DSAR support!
Looks good on the 4hr chart, Tedge.

But I would be careful of a bounce back off the weekly DASR as it has done a couple of times before already. All the tunnels are close together on the daily chart which will mean choppy trading conditions for a while (probably).

Please see my last couple of posts regarding finding the best pairs to trade. I was really think of trying to form an informal trading group whereby each member concentrates on ONE particular trading pair and lets the group know when a good set up is possible. It's so easy to miss set ups because one becomes transfixed on one or two trading pairs and forgets about the rest!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.gif Size: 18 KB
  • #469
  • Apr 1, 2012 7:36pm Apr 1, 2012 7:36pm
Of course time comes when all good things come to an end and a major trend stalls and goes the other way in a countertrend, Good illustration of that is AUDCHF now in a firm downtrend after the pair was bullish for a long time. What we see on the daily chart is price action coming back down to the weekly DASR.
Once the downtrend got established, it was a SAFE BET that it was coming back at least to the weekly DASR!

Right now it is probably better to wait for a retracement back to daily DASR before considering entering short
Attached Image (click to enlarge)
Click to Enlarge Name: audchf daily.gif Size: 22 KB
  • #470
  • Apr 2, 2012 1:56am Apr 2, 2012 1:56am
Hi all

Well it's the same story again this morning! Long cable and euro

Just have to be careful when London opens!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4hr.gif Size: 19 KB
  • #471
  • Apr 2, 2012 3:13am Apr 2, 2012 3:13am
Well London was in agreement with the bulls today!!

So it's up up and away GBPUSD and EURUSD
  • #472
  • Apr 2, 2012 3:20am Apr 2, 2012 3:20am
I have a small buy on eurjpy on 1 hour chart (not a system trade!!)
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 1 hour.gif Size: 19 KB
  • #473
  • Apr 2, 2012 3:38am Apr 2, 2012 3:38am
Quoting jmtini
Hi everyone

Not a good week for EURUSD trading pair as we saw sideways movement for most of the week as well as a lot of see-sawing.

Makes the case for moving away from the fixation with EURUSD and looking at other pairs which may very well offer better opportunities.

How are we going to find out or anylise the best pairs to trade? I'll get to that next.
Hi Jerry,
Comparing the tunnels is one way. Another is to look at the G8 Index correlations with such as the CCFp or CC or you could run a demo copy of Sig 4 which is MT4 from Liteforex. This is, perhaps, the only MT4 broker who provide the G8 currency indices. This gives a good overview of what each countries currency is doing. It is also the basis of the CICR system in the FF forums here. You might find a bit of synergy by observing the indices.
Cheers,
Altos
  • #474
  • Apr 2, 2012 7:13am Apr 2, 2012 7:13am
Quoting AltosTrader
Hi Jerry,
Comparing the tunnels is one way. Another is to look at the G8 Index correlations with such as the CCFp or CC or you could run a demo copy of Sig 4 which is MT4 from Liteforex. This is, perhaps, the only MT4 broker who provide the G8 currency indices. This gives a good overview of what each countries currency is doing. It is also the basis of the CICR system in the FF forums here. You might find a bit of synergy by observing the indices.
Cheers,
Altos

Thanks Altos

Always willing to look at any ideas for finding good set-ups! Will check it out.

In the meantime I was of course stopped out of EURJPY - serve me right for breaking our rules!!

TP on GBPUSD at +30 and BE on EURUSD

It would be nice to spot reversals, although again looking at our EURUSD daily chart, we can see clearly how it's "stuck" between the tunnels. Really need to stand aside IMHO on EURUSD at the moment
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 22 KB
  • #475
  • Apr 2, 2012 9:15am Apr 2, 2012 9:15am
Hi everyone - well I'm trying another long on cable

Really looking good for bulls on hourly, 4hr, and daily charts!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 1hr.gif Size: 18 KB
  • #476
  • Apr 3, 2012 5:06pm Apr 3, 2012 5:06pm
Hi everyone

Well of course the europeans have changed their clocks so our CET platform is now wrong!!

So I am going to test/backtest but don't think it's going to work to well.Might have to look for a broker with the right platform!
  • #477
  • Apr 4, 2012 2:58pm Apr 4, 2012 2:58pm
Hi everyone

Well, after all - does not seem too bad to use the MT4 platform with 4hr bars opening at: 6.00am, 10.00am, 2.00pm and 6.00pm

Now gives us 4 opportunities x 6 nice trading pairs = 24 opportunities per day!!

I went long on the GBPUSD at the start (almost) of the 6.00pm bar and I'm gunning for 40 pips!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4hr.gif Size: 23 KB
  • #478
  • Apr 4, 2012 3:01pm Apr 4, 2012 3:01pm
Sorry my times above are all GMT of course!


Does mean getting up at 6.00am in the morning to catch the early train but you will always generally find 20 - 30 "no brainer" pips available on cable or EU around that time anyway !!
  • #479
  • Apr 4, 2012 5:37pm Apr 4, 2012 5:37pm
Just quickly wanted to say that there is no harm in using 30min or 15min chart to start off our trade especially in the early morning and start of US session when we often get "fake breakouts" and sudden reversals.

For instance we might see a bearish situation but when the 10.00am bar opens (for instance) we see the price go up (often happens) so we scour the lower time frames for a good entry point OR just set a pending trade lower down on the 4 hr chart!
  • #480
  • Apr 5, 2012 3:35pm Apr 5, 2012 3:35pm
OK so we're into a nice retracement - going to watch closely over the next couple of days for a good place to enter short!
Attached Image (click to enlarge)
Click to Enlarge Name: audchf daily.gif Size: 22 KB
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