Good work castlerock 1.0800 - 1.0900 may prove to be a problem for U/C but if it is your trade should be well in the black by then!! Current outlook is CAD bearish, USD bullish so that is on your/our side! Regards, Dan

Trend Trading Chart Thread

Hi, * * Not trade advice... just my thoughts... * * I don't trade G/J myself but a quick glance at the charts and I would say the H4 trend is down but the daily is range-bound between the key levels 140 and 150. A break (and hold) below 140 would ...

Trend Trading Chart Thread

Ah I see! The answer is yes and no! I primarily trade the trend on the H4 chart but I do it with the knowledge of what is happening on the daily chart. When the two are running the same way that is obviously a bonus but when they are not I simply ...

Trend Trading Chart Thread

Which currency?

Trend Trading Chart Thread

Hi Coolshades, I can't post a chart at the moment but I will try to remember later. In the meantime, I have 1.6050 as a daily support/resistance level and the 50% retracement was a little higher (I think it was 1.6065) which got hit almost to the ...

Trend Trading Chart Thread

Hi Supermatt, Don't worry - you will get there. It takes a lot of practice and a lot of patience waiting for the right setup... but you will get there - don't forget I have been trading this system/method for a couple of years now and have been ...

Trend Trading Chart Thread

Update — Hi guys, Quiet in here lately! Just thought I'd post a quick update of my current positions/thoughts... USD/CHF - Long off of 1.0550 (trendline, 50% fib & support level) GBP/USD - Short off of 1.6000 (50% fib & resistance level) ...

Trend Trading Chart Thread

[quote=lawgirl21;3423111]If you believe that there is retracement back to 1.4150, as I also believe is likely, why wouldn't you want to capture some of those long pips? I went long at 1.3925 and am up about 25 pips./quote] Because if you're wrong - ...

Jacko's Forex House of Pleasure and Pain

Hi MktScape, To be honest I'm not too keen on a long on A/U at the moment. I see more downside potential... possibly heading towards 0.8800... but I could be wrong!! Regards, Dan

Trend Trading Chart Thread

Hi Coolshades, It was a last ditch attempt for a long (unless we get a major rejection now!). General trend is up, support at 0.8900 (as per the first chart). I decided to pull my stop to breakeven after we got an H4 pin bar rejecting the old ...

Trend Trading Chart Thread

My main concern with swissy is that she has recently made a higher low and broken the primary daily trendline I have been watching - both signs of a reversal. However, price is currently at an interesting level... if we get some kind of bearish ...

Trend Trading Chart Thread

Hi Mitch, I can see where you have your 50% level but as far as I can see the trend is down. My preference is a short... my chart is showing a H4 pin bar (bearish pin) forming... so I may be in it in the next 30 mins or so! Regards, Dan PS... If you ...

Trend Trading Chart Thread

Hi all, Yes it was a day later than expected but I am in short U/C. I am also in with Supermatt, long on AUD/USD. Regards, Dan

Trend Trading Chart Thread

Hi Someone (interesting name!), When I started my 2009 journal I wasn't totally confident in the trendline/50% fib level method that I currently use so I was also using Johnedoe's 77 cross system which was essentially two moving averages on a daily ...

DanUK Simple EUR/USD Trading Journal 2009

Hi Shotshell, Yes in my opinion the horizontal support/resistance levels are the most important thing in trading. There are many ways to trade them and the use of trendlines, fib levels and price action setups (pin bars etc) help to identify the ...

Trend Trading Chart Thread

Hi Shotshell, It's not the chart that is different, just the way we have drawn our trendlines. The first high you are drawing from is not the same as the high I have used. The reason for this is that I tend to use two different trendlines... an ...

Trend Trading Chart Thread

USD/CAD — Looks like it's decision time for USD/CAD... if the day closes as a "pin bar" I will be shorting!

Trend Trading Chart Thread

I think the body and the wick are both important but the reason that they are important is based on where the candlestick formed rather than the fact that the candlestick has formed. The market is based on supply & demand (support & resistance), so ...

Candles are arbitrary

Hi Coolshades, Not been a particularly good week however I did get back in on the G/U short after the daily shooting star formation. Sold at 1.6300 (100 pip stop) and have moved my stop to 1.6200. Regards, Dan

Trend Trading Chart Thread

Hi Vicky, Sorry I missed your question earlier. I am generally looking to trade off of price reactions at horizontal support/resistance areas and I use both the 50% level and TLs as a guide to which s/r level to look at. Regards, Dan

Trend Trading Chart Thread