Hi Paul, Ah I see what you're saying now... it's actually a bearish outside bar but it means the same thing I guess!! You are right in saying that it was a retest of the broken trendline - which is a fine tool to add to the toolbox however what I ...

DanUK's Advanced Trend Trading Strategy

Incorporating lower timeframes — This was a trade I took earlier this week... I didn't post it as "one to watch" because the trigger was on the H4 charts and I would prefer we stick to the dailies for now. But for those of you who are ...

DanUK's Advanced Trend Trading Strategy

GBP/CHF — No spectacular looking trades out there at the moment. USD/CHF is in an interesting place and I'm keeping an eye on it! GBP/CHF caught my eye though... we are in uncharted lows at the moment so we haven't got as much historical data ...

DanUK's Advanced Trend Trading Strategy

Hi uncle gromit, I must admit this looks like an interesting double top forming... could well be the start of the move down but I'm afraid this scores a zero on the checklist. A trade must achieve 1, 2 and 5 in order to be tradable (under this ...

DanUK's Advanced Trend Trading Strategy

Hi guys, Only got a minute for a quick post today as I've only just got in from a crazy long day! So I don't mean to be rude but I just want to make a couple of quick points... @Milan - I'm not sure why you're thinking long on the Euro? Perhaps ...

DanUK's Advanced Trend Trading Strategy

Hi jcalow, I wouldn't be taking any trades at the moment, due to the holiday season, but it is a nice looking bar! If it were at any other time I would still be concerned that you would be trading directly into 0.8500 which I think would be ...

DanUK's Advanced Trend Trading Strategy

Hi Steve, Good to see you having a look! Personally, I think the method is more reliant on judgment than anything codable but you are the man for the job if I am wrong! Lol! Regards, Dan

DanUK's Advanced Trend Trading Strategy

That's right... being picky about your trading parameters works two ways - it helps to increase your chances of a positive trade by taking better setups and reduces your likelihood of large drawdown by limiting your exposure to the ...

DanUK's Advanced Trend Trading Strategy

Hi NeoRio, Yes I do mean a candle formation. My favourite candlestick pattern would be the hammer/shooting star followed by the bullish/bearish outside bar and the bullish/bearish engulfing bar. Any of them at an "area of interest" is a good looking ...

DanUK's Advanced Trend Trading Strategy

Hi andelumut, Yes I agree, G/U looks like it is heading down at the moment. The level I was looking for (that was hit today) was 1.5500 - which you can see from the attached chart is one of those important levels that price seems to find! Regards, ...

DanUK's Advanced Trend Trading Strategy

Right chaps, I think I am up together with all Q&A now! I will continue to check back to see if there are any more questions or discussions to be had but for now I would like to wish everyone a Merry Christmas and a Happy & Prosperous New Year! ...

DanUK's Advanced Trend Trading Strategy

Hi Paul, Just realised that I didn't answer Question No. 1! And to be honest I don't think I or anyone else really can. Truth is, no one knows for sure what price is doing or is going to do. All we can do is ask the right questions and see if we can ...

DanUK's Advanced Trend Trading Strategy

Hello Windpip, I think you have understood correctly. This method is not about trading inside bars as "continuation" bars but only when price retraces back to an "area of interest". Regards, Dan

DanUK's Advanced Trend Trading Strategy

Hi Paul, It's a little more tricky because of the time of year but if I was looking to trade this at the moment I would be thinking of buying. I would like to see price come down to test 1.0000 and form a hammer (or another nice looking trigger) and ...

DanUK's Advanced Trend Trading Strategy

Hi Paul, It's often hard to deal with missed opportunities so it's good to see you stay positive! The thing to remember is that you correctly identified the setup - it was only a minor technicality that caught you out. Regards, Dan

DanUK's Advanced Trend Trading Strategy

Hi Maveri4k, I would like to confirm what uncle gromit said. S/R levels are best drawn and aligned with round numbers. However, this method takes into account only the key levels that tend to be seen on a weekly chart and these do not usually fall ...

DanUK's Advanced Trend Trading Strategy

That's an interesting setup you've got there! I am not overly keen on inside bars but when I do trade them I use the break of the setup bar as the entry not the actual "inside" bar. The reason being that the "inside" bar signals indecision within ...

DanUK's Advanced Trend Trading Strategy

Lol! Now that's cheating! Just wanted to bring something up that I felt was important with regards to this setup missing the 50% retracement level. The most important thing to look for is for price to retrace to a key support/resistance level. If ...

DanUK's Advanced Trend Trading Strategy

Hi Neo, Although I personally wouldn't be placing any trades until next year I see NU as bearish at the moment. If it had been a normal trading week I think I would have been interested in watching for a selling opportunity at 0.7500. Regards, Dan

DanUK's Advanced Trend Trading Strategy

Hi PipR, To be honest I have never before bothered to calculate expectancy or much else. When it comes to measuring performance I do it based on whether I am making a profit or not. I think too many traders obsess with calculating the best way to ...

DanUK's Advanced Trend Trading Strategy