How do you define a trend? And....

[Mike Kshemaraja]

Can anyone see a head and shoulders (which would be a trend start) on the 30M Euro/$?

Sure. Also I see a 0.88 % retracement at the same spot and maybe an irregular ABCD pattern, with D very close to 1.61 extension BC (Fibo confluence), correct me if I am wrong.

Sorry I am bit showing off, its Friday forgive me.

 

[Mike Kshemaraja]

Good post this one:

http://www.trade2win.com/boards/for...cessful-technical-analysis-3.html#post1881988

 

[darktone]

Good post this one:

http://www.trade2win.com/boards/for...cessful-technical-analysis-3.html#post1881988

Or simplified version:-
Spot the overall trend (sorry, dominant trajectory) of say a daily chart.
Set a cheap limit in the hourly (in line with dominant trajectory).
Dont bet the house.

Brilliant!

Why is it that us humans have to make things more complicated than they really are?

 

[BeginnerJoe]

Everyone's an expert when seeing trends on the left side of the chart. Can anyone do it for the right hand side where all the free pips are ?

 

[Lee Shepherd]

Everyone's an expert when seeing trends on the left side of the chart. Can anyone do it for the right hand side where all the free pips are ?

Hi Joe,

I can give you an example to trade from but first you would have to define the questions below:

1) Time frame you wish to run from
&
2) Target market

What other instruments do you use that would complement such trend lines and ranges?

And the ultimate is to understand that should you distinguish such a trend line that the trade could be a losing one. As I previously mentioned they don't always work all of the time so one would have to be prepared to lose money - it just depends on how much and how much you would gain if it worked on this occasion.

2 People can be given a trade set-up and yet those two people could generate one loser and one winner, even though they were trading the same market, same time frame and same set of signals.

Also it would be you that would have to refine your entry and exit points, money management and risk:reward. Like Morpheus said to Neo: I can only show you the door but you are the on who has to walk through it.

Regards,

Lee Shepherd

 

[darktone]

Everyone's an expert when seeing trends on the left side of the chart. Can anyone do it for the right hand side where all the free pips are ?

Where else can a definable trend exist but the left side of the chart joe?

 

[BeginnerJoe]

Hi Joe,

I can give you an example to trade from but first you would have to define the questions below:

1) Time frame you wish to run from
&
2) Target market

1 minute EUR/USD. Currently short at 1.261. So give me some trends and them pips.

 

[BeginnerJoe]

1 minute EUR/USD. Currently short at 1.261. So give me some trends and them pips.

Stopped out with +ve BE. Had fair profit but wanted more. Trend analysis remains welcome.

 

[darktone]

1 minute EUR/USD. Currently short at 1.261. So give me some trends and them pips.

Im no expert joe! But why are you selling it? Daily trend is up since thurs am to my eyes. Why not leave the shorts and just play longs?

 

[Lee Shepherd]

1 minute EUR/USD. Currently short at 1.261. So give me some trends and them pips.

Hi Joe,

Firstly my recommendation is you do not trade from this, this is purely educational material only so I won't be held liable for your losses.

A 1 minute timeframe does not give me long to even do this let alone refine it and post, however I have done the best I can for educational purposes only.

The first chart is your 1 minute as asked for, see the trend? It doesn't mean it will play out but used with other tools can give another signal or confirmation. I have also posted the daily chart for the same market. This also is a start of a trend upwards.

Now....No matter what happens next is entirely up to the individual trader, as stated, 2 traders given the same signal can produce two separate results.

This is an example of a trend start so is purely in foresight.

To follow this trend line you will have to do the same on your own chart using your own set of indicators with your own interpretations. This will give you a future trend line so you can watch for the break and act accordingly.

Regards,

Lee Shepherd

 

[BeginnerJoe]

Why not leave the shorts and just play longs?

Why not you do it and show me a statement of pips ? If it's that easy, everyone will be doing it. The trend on the left side of the chart is more or less useless.

 

[ZEN archer]

The trend on the left side of the chart is more or less useless.

I would define an up trend as a series of higher lows and higher highs (at least 2 of each) and vice versa for a down trend. In that sense if I was to trade an up trend and 'run the profit', I would do that only till there is a lower low - at that point I would exit my trade. When the lower low is formed - it's either consolidation or reversal.

PS I don't 'run the profits' (I have targets that cut the profits and also stops that cut the losses) and only feel better if my trade is compatible with the trend. IMO Trend is a fair weather friend.

 

[BeginnerJoe]

The first chart is your 1 minute as asked for, see the trend?

Yes, I see it. But you are blind to the glaring stronger trend immediately preceding it. The situation looks like a consolidation phase. There's nothing to play for.

 

[BeginnerJoe]

PS I don't 'run the profits'

If you don't run it, I doubt you will get it.

 

[ZEN archer]

If you don't run it, I doubt you will get it.

Actually I do most of the time

 

[BeginnerJoe]

Actually I do most of the time

On the few times you don't you loose all your peanuts. This is why you need more than peanuts.

 

[darktone]

Why not you do it and show me a statement of pips ? If it's that easy, everyone will be doing it. The trend on the left side of the chart is more or less useless.

Technically, its that easy! Mind side / inconsistency / and massive overtrading is where most fail imo.
So how would me showing you a statement benefit me?

 

[BeginnerJoe]

Technically, its that easy! Mind side / inconsistency / and massive overtrading is where most fail imo.

You said you were no expert. Seems dangerous to form these views.

So how would me showing you a statement benefit me?

Having your statement being assessed by the official forum statement checker is highly beneficial.

 

[ZEN archer]

On the few times you don't you loose all your peanuts. This is why you need more than peanuts.

I said I cut the profits and the losses as well.

PS I prefer taking profit myself as opposed to waiting for the market to give it to me. In my experience the market is not there to give me money.

 

[darktone]

You said you were no expert. Seems dangerous to form these views.
I see myself as an expert in nothing joe! This has come after previously seeing myself as pretty much an expert in quite a few things in my life. Ive accepted that i know i nothing! When i did that, i could take ego out of the situation.

Having your statement being assessed by the official forum statement checker is highly beneficial.
In what way? Convince me!

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