Hi TGpop, Sorry for the slow reply... I've been in bed most of the week with flu! I'm not sure about scaling in and out... seems a bit over complicated for my liking! But as far as trading one currency pair goes - I would say that in theory trading ...

DanUK's Advanced Trend Trading Strategy

Hi Paul, That's ok - I'm sure we've all done that once or twice! The important thing now is not to rush into any new trade because you feel you missed out on this one... remain objective at all times! For future trades I would recommend placing your ...

DanUK's Advanced Trend Trading Strategy

Gotcha!

DanUK's Advanced Trend Trading Strategy

Hi Paul, Where did you place your stop? On my feed, this short should still be in play. Regards, Dan

DanUK's Advanced Trend Trading Strategy

Hi Paul, To me this looks like a short. I tend to gauge the trend on the daily chart and the flow at present is down. The breaking of the daily trendline would suggest to me that lower prices are ahead. Just my humble opinion... I could be wrong of ...

DanUK's Advanced Trend Trading Strategy

Hello lukyman, Feel free to ask... this is a learning thread so you are quite welcome! Regards, Dan

DanUK's Advanced Trend Trading Strategy

Ah, perhaps I should have read this before I cautioned the trade, lol! Not to worry though - I think it has a good chance of working out. I just wanted to clarify though... A bearish outside bar would have had a higher high than the previous bar and ...

DanUK's Advanced Trend Trading Strategy

Hi Windpip, That's ok - questions are quite welcome. There are times when I can't answer quickly but I will always endeavour to reply at some point! The USD/CHF isn't the perfect example for fibbing but out of the two you plotted I would be more ...

DanUK's Advanced Trend Trading Strategy

Hi Paul, I hope you are using low leverage if you are using real money while you learn! I actually think it is good to trade with real money whilst you are learning but only if you are using very low leverage and can afford to lose the whole lot ...

DanUK's Advanced Trend Trading Strategy

USD/CHF — Hi Windpip, Good question. There are often times when there are more than one trendline to consider so I am glad you asked. First of all your blue trendline I consider to be a "developing" trendline - it isn't technically valid until ...

DanUK's Advanced Trend Trading Strategy

Hi Windpip, No problem. My lines aren't identical to yours but they are very similar. So long as you remember that they represent an area more than a line (which you mentioned) you should do fine. These levels now represent your "areas of interest" ...

DanUK's Advanced Trend Trading Strategy

Hi Neo, On my feed that candle was a bearish engulfing candle (the body engulfed the previous day's body) and a valid trigger to go short. Could the next stop be 110? Time will tell! Regards, Dan

DanUK's Advanced Trend Trading Strategy

Hi Mark, Don't forget to think of demo money as real money! It helps with the discipline. Re: moving your stop - I wouldn't argue with what you are planning to do. These days I tend to use a "soft" stop loss more often than a hard stop (although I ...

DanUK's Advanced Trend Trading Strategy

Hi Mark, Strictly speaking the inside bar setup is at least a two bar setup... it suggests indecision with the inability of the second bar to break the high or low of the setup bar. Taking the break of the second bar is a much riskier entry as price ...

DanUK's Advanced Trend Trading Strategy

Hi Magic, In this particular case we had both the break of the trendline and most importantly "key" support/resistance in the 82.50/83.00 area. For me it is the "key" areas of support/resistance that are most important. Trendlines and fibs are ...

DanUK's Advanced Trend Trading Strategy

Hi Simpleguy, I hope this does turn into something that will be helpful to all aspiring traders. The one thing I would ask people to remember though is due to the fact that we are mainly trading the dailies there will be a lot of times when there ...

DanUK's Advanced Trend Trading Strategy

Hi Ihor, Glad to see someone else ready to join in but can I just ask... are you profitable trading the daily timeframe yet? You don't have to answer that here but I would like everyone to consider sticking with dailies until they are profitable. ...

DanUK's Advanced Trend Trading Strategy

Nice one! I've actually done that sort of thing myself before when I've missed the original entry and price retraces a little (so long as the trade isn't technically invalidated it should be ok I guess!). I don't trade IBs until they break the high ...

DanUK's Advanced Trend Trading Strategy

Hi Magic, I'm glad to be of some help! It's easy to forget sometimes that it's not always easy to see things clearly! As you suggest, I think it's extremely important to learn how to read a trend... as this is more important than the actual entries ...

DanUK's Advanced Trend Trading Strategy

Good stuff! Hopefully no one will take anything posted as trade signals as that's not the intention but with a bit of luck newbies might be able to use some of the analysis posted to support their own (as you suggest). Regards, Dan

DanUK's Advanced Trend Trading Strategy