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Trading Made Simple for Day Charts

  • #1,821
  • Oct 25, 2013 1:53pm Oct 25, 2013 1:53pm
Quoting Buttonjock
Trade has triggered. The only thing missing was a 3-7 EMA cross, which is now there. as the stop is rather large, the TP is also going to be rather high.
Looks like this one went well - it was looking great for a continuation last night off of H4 for at least 70pips
"To live with Passion, it takes Courage and Grace to survive"
  • #1,822
  • Oct 25, 2013 2:07pm Oct 25, 2013 2:07pm
Quoting Uk1
Possible break out trade for next week guys? {image}
You'd think at some point this has to break out - weekly charts showing the same - range is contracting and looks to be showing more downwards pressure.

US fundamentals would seem to show downward pressure also
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyweekly.png Size: 47 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,823
  • Oct 27, 2013 2:49pm Oct 27, 2013 2:49pm
Quoting Britpip7
{quote} You'd think at some point this has to break out - weekly charts showing the same - range is contracting and looks to be showing more downwards pressure. US fundamentals would seem to show downward pressure also {image}

Putting a fibonacci on a monthly chart from the highs of 8/98 2/2 and 6/7 show some interesting resistance lines. Our recent high is very close to a 38.2 pullback. A little higher and a 50 and 61.8 are almost on top of each other
  • #1,824
  • Oct 28, 2013 2:48pm Oct 28, 2013 2:48pm
A monthly Not as clear as I'd like, but does show some interesting Fib choke points above the recent high. Green is the oldest high, purple the middle and orange the most recent. The TMS is also well and truly due for a turn
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpymonthly.png Size: 89 KB
  • #1,825
  • Oct 29, 2013 2:50pm Oct 29, 2013 2:50pm
G/U looking good on both daily and weekly time frames. Only thing missing is a 3-7 ema cross
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 126 KB
Click to Enlarge Name: gbpusdweekly.png Size: 142 KB
  • #1,826
  • Nov 3, 2013 7:00pm Nov 3, 2013 7:00pm
EU had a great run last week and is now running into a weekly S/R level and a Daily Demand Zone, so would not be surprised for a pause at the very least is not a reversal.

H4 TDI is at a really low level so no more short entries unless there is a pullback bringing the TDI out of OS territory.

Watch for bullish candles leaving the Demand Zone on the Day.

GU is looking very similar
Attached Image (click to enlarge)
Click to Enlarge Name: EU TDI 11-3-2013.gif Size: 115 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,827
  • Nov 4, 2013 5:06pm Nov 4, 2013 5:06pm
Quoting Britpip7
EU had a great run last week and is now running into a weekly S/R level and a Daily Demand Zone, so would not be surprised for a pause at the very least is not a reversal. H4 TDI is at a really low level so no more short entries unless there is a pullback bringing the TDI out of OS territory. Watch for bullish candles leaving the Demand Zone on the Day. GU is looking very similar {image}

I am also looking at this trading possibility. At the moment im still short and will reverse my position as soon as I see a substiantial reversal. Are you still waiting or are you already long?
  • #1,828
  • Nov 4, 2013 10:44pm Nov 4, 2013 10:44pm
Quoting Myrmica
{quote} I am also looking at this trading possibility. At the moment im still short and will reverse my position as soon as I see a substiantial reversal. Are you still waiting or are you already long?
Not much happening with PA at the moment - tomorrow's news - ISM Non-Manufacturing PMI - should prompt some action.

Nothing much to change Sunday's opinion of support levels, etc.

MACD has flattened on Day, however RSI dropped back to 31. Still officially a down trend, so this may be a pause. Mostly dependent upon how the current support around 1.3500 holds.

H4 Mid zone entering the Oversold area is another hint that the reversal should happen, but the current H4 TDI cross has stalled. Still waiting!
Attached Image (click to enlarge)
Click to Enlarge Name: EU Day TDI 11-4-2013.gif Size: 90 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,829
  • Nov 18, 2013 12:27am Nov 18, 2013 12:27am
Is this thread still alive? I came accross this thread last week and I am very interested in learning it. I work crazy hours at my job and I have been looking for an trading approach that runs off of the daily chart. I would love to keep this thread going, it seems like a good system.
  • #1,830
  • Nov 18, 2013 5:36pm Nov 18, 2013 5:36pm
its a great system and a great thread. I have been demoing this for the past few months with good success. with better analysis and trading on my part I feel confident I can make this into a consisten position trading system for me.
Quoting chucklh3
Is this thread still alive? I came accross this thread last week and I am very interested in learning it. I work crazy hours at my job and I have been looking for an trading approach that runs off of the daily chart. I would love to keep this thread going, it seems like a good system.
  • #1,831
  • Nov 19, 2013 1:45pm Nov 19, 2013 1:45pm
Hi Chuck, been a quiet time time lately
  • #1,832
  • Nov 19, 2013 9:48pm Nov 19, 2013 9:48pm
Hello guys, I've been checking out the charts, I'm currently looking at the EUR/CAD, would have liked to enter at the open of the newest daily candle but because of work I have a buy order in at 1.4206. What pairs are you guys looking at?
  • #1,833
  • Nov 20, 2013 1:58pm Nov 20, 2013 1:58pm
Quoting chucklh3
Hello guys, I've been checking out the charts, I'm currently looking at the EUR/CAD, would have liked to enter at the open of the newest daily candle but because of work I have a buy order in at 1.4206. What pairs are you guys looking at?

gbpusd is floating in a high region of the past 2 years, so I'm looking for a short signal. Audusd has a pivot point at .93 it's bouncing around after a 50% retrace. Audcad had a retrace of nearly 61.8%, which was precisely to the 100 EMA on a weekly chart, so looking for a continuation of this. Audnzd is bouncing off a 4 year low
  • #1,834
  • Nov 21, 2013 10:01pm Nov 21, 2013 10:01pm
Been out of the loop for a minute but im back to trading.Will post charts and what not
  • #1,835
  • Nov 24, 2013 7:41pm Nov 24, 2013 7:41pm
Quoting kingclarence
Been out of the loop for a minute but im back to trading.Will post charts and what not
Im currently in the following trades

Eur/Jpy.. +146

Usd/Jpy.. +50
  • #1,836
  • Nov 25, 2013 2:14pm Nov 25, 2013 2:14pm
Quoting kingclarence
{quote} Im currently in the following trades Eur/Jpy.. +146 Usd/Jpy.. +50

Nice to see you back, King. Got a U/J myself. Appears to b running into resistance from the high of 8th July
  • #1,837
  • Nov 25, 2013 2:32pm Nov 25, 2013 2:32pm
Quoting Buttonjock
{quote} Nice to see you back, King. Got a U/J myself. Appears to b running into resistance from the high of 8th July
Yeah i think your right
  • #1,838
  • Nov 28, 2013 1:34pm Nov 28, 2013 1:34pm
Quoting kingclarence
{quote} Yeah i think your right

Then again, maybe not, lol.

To take profit or not to take profit,
that is the question :o)
  • #1,839
  • Dec 4, 2013 10:54am Dec 4, 2013 10:54am
Greeting folks - I am in the middle of a hectic work schedule, so no posting for a few weeks. Still trading and testing - still doing well and no changes to the chart layouts / indicators, which is usually a sign that the methodology has held up well. The only change that I can see is that I am not using the RSI 10 so much and I am using the Day MACD for confirmation on the day trend direction, although the Day EMA7 shows everything you need to know.

I now add notes to each of my charts so that I have a history / journal to look back on - if you document what you see it helps with the learning process for trading analysis. Attached is an example. It will get a tad cluttered with the historical notes, but worthwhile in my humble opinion.

eur/cad is pushing higher and has recently broken the Day and Weekly Supply Zones, so this becomes a new support level.
Attached Image (click to enlarge)
Click to Enlarge Name: eur cad 12-4-2013.gif Size: 97 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,840
  • Dec 4, 2013 3:10pm Dec 4, 2013 3:10pm
good to know still doing well britpip. currently demo testing this, not doing too bad, using more original configuration rather than with the MACD.

please do keep checking in as some of us are trading this modification of yours, i think it is excellent for those of us with day jobs.

Quoting Britpip7
Greeting folks - I am in the middle of a hectic work schedule, so no posting for a few weeks. Still trading and testing - still doing well and no changes to the chart layouts / indicators, which is usually a sign that the methodology has held up well. The only change that I can see is that I am not using the RSI 10 so much and I am using the Day MACD for confirmation on the day trend direction, although the Day EMA7 shows everything you need to know. I now add notes to each of my charts so that I have a history / journal to look back on - if you...
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