Price Behaviour Trading - Gossip and Banters | Forex Factory

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Price Behaviour Trading - Gossip and Banters

  • #1
  • First Post: Edited 4:55am Jan 28, 2010 4:39am | Edited 4:55am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Folks,

I would like to discuss and use price behaviour rules on this thread and make trading calls purely by following price action rules.

Price behaviour rules are to gain edge in the forex or equity markets, and manage risk and exposure accordingly instead of relying on systems. Although it's upto you if you want to use a system which you are comfortable with.

People are welcome to post their charts, and interact (gossips, banters) with each other adhering to the FF rules.



Ta
ams
  • #2
  • Edited 7:00am Jan 28, 2010 4:49am | Edited 7:00am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
CABLE, currently in a tight range and consolidating.

Chart show price has been pulled @ 161 and pushed from 62500.


EJ, 127 area suggests sellers. Levels to watch are 1274xx.

Looney, trendline res@ 1.065xx and support 1.054xx.

AU, break above 904xx resistance @ 916xx. Fall back to 892xx.
GJ, levels 147.xx, 144xxx.


We would like to see a break above or below these levels to either go long or short.

If you are brave enough can play the tight range when the top and bottom is reached.
Attached Image(s) (click to enlarge)
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  • #3
  • Jan 28, 2010 4:59am Jan 28, 2010 4:59am
Man i should have traded like this long time ago...much more easy money would have come.
Good i finally got my inspiration this morning, making 300% on my live account now...I feel strange, amazed about how simple it is.
"Hate the sin, love the sinner." - Gandhi
  • #4
  • Jan 28, 2010 5:02am Jan 28, 2010 5:02am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
that's a very good RR.
But you are being to risky there I see.

All I know is pure and simple things in life works!


ta
ams



Quoting TheGabriel
Man i should have traded like this long time ago...much more easy money would have come.
Good i finally got my inspiration this morning, making 300% on my live account now...I feel strange, amazed about how simple it is.
  • #5
  • Jan 28, 2010 5:07am Jan 28, 2010 5:07am
Quoting ams
that's a very good RR.
But you are being to risky there I see.

All I know is pure and simple things in life works!


ta
ams
Yes Ams it's very risky indeed, i'm trading lowest volume available (0.1 lots) so my margin is few bucks that I'm now growing to be able to take safer trades on long term.

Fact is I really feel strange because I'm not that super happy...just feel normal because this seems so obvious now. I was missing the whole picture
"Hate the sin, love the sinner." - Gandhi
  • #6
  • Jan 28, 2010 5:14am Jan 28, 2010 5:14am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I can understand, I've been there myself. My experience was not so good. Hence, my reason to mention the risks associated.

You are a clever chap and I know you would have calculated the risks anyways.

ta
ams




Quoting TheGabriel
Yes Ams it's very risky indeed, i'm trading lowest volume available (0.1 lots) so my margin is few bucks that I'm now growing to be able to take safer trades on long term.

Fact is I really feel strange because I'm not that super happy...just feel normal because this seems so obvious now.
  • #7
  • Jan 28, 2010 10:26am Jan 28, 2010 10:26am
Hi AMS,

I like your charts, Pls continue posting,

Thanks
  • #8
  • Jan 28, 2010 10:26am Jan 28, 2010 10:26am
Good day to you,

Congrats on starting your own focussed thread. I know that you will do well and that you will be a great inspiration to a lot of us.

Will pop in from time to time to see what nuggets you have to share.

Well done again

Wish you health, wealth and happiness ( and patience)

Warm regards
  • #9
  • Jan 28, 2010 10:36am Jan 28, 2010 10:36am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Thanks TT.

This is the strategy I was talking about in our email discussion.

Don't want to spoil DT's thread with all the jargons unless he trades them.
I would like to focus on all currencies and not just the pound.

Swing trading fits my style.

I took a short on cable this morning @ 162500 with SL @ 63100. Waited a long time for that to deliver the result. But it did in the end.

I would really appreciate your presence!

ta
ams



Quoting TauTrader
Good day to you,

Congrats on starting your own focussed thread. I know that you will do well and that you will be a great inspiration to a lot of us.

Will pop in from time to time to see what nuggets you have to share.

Well done again

Wish you health, wealth and happiness ( and patience)

Warm regards
  • #10
  • Jan 29, 2010 2:09am Jan 29, 2010 2:09am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Price currently 61200, placed a long @61100 until 62200 where I intend to go short with SL @ 62800.
Attached Image (click to enlarge)
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  • #11
  • Jan 30, 2010 6:00am Jan 30, 2010 6:00am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Here you go peeps, I am posting charts for the most traded currencies.

I'll be taking my trades based on support and resistance levels mentioned in these charts. You need to watch how much keen is price to trace these levels. On basis of that you can decide if you can take the next trade, and in which direction.

Slow moving price with lots of traces backforth is a good indication of price reversal. Price going in a straight line is a good indication of strong trend in whichever direction it's flowing.

These charts will play for most of the week IMO.

Would like to mention that I'll be taking only BUY trades on $ pairs and sell for the rest when they reach relevant support / resistance level.

Watch the price, and trade safe.

ta
ams
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  • #12
  • Feb 1, 2010 6:37pm Feb 1, 2010 6:37pm
Good thread Ams - just found you!
Hope I can contribute.
No trades for me today, couldn't find anything I liked enough to put money on.
Nicola
  • #13
  • Feb 1, 2010 8:00pm Feb 1, 2010 8:00pm
hi
just to say thank you for opening this thread .
i can say i trade almost the same way u do ( certainly not as good as u do )
looking forward to participate .
regards
samer
  • #14
  • Feb 2, 2010 2:12am Feb 2, 2010 2:12am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hi Nicola,

Welcome, how are you mate
Hope new pad is comfy?

You are one of the few traders I admire on this forum so your analysis is something I would appreciate and like to see more often!!

You are right, I am scalping only. All charts posted above are what I see as support, resistance. So Intend to trade only in their direction.


ta
ams


Quoting elitejets
Good thread Ams - just found you!
Hope I can contribute.
No trades for me today, couldn't find anything I liked enough to put money on.
Nicola
  • #15
  • Feb 2, 2010 2:15am Feb 2, 2010 2:15am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hi Samer,

Thanks mate!
Ah, when you will know about the blunderous mistakes I've made before getting on-track you will take your words back

I welcome you on the thread, and hope to learn and spread the knowledge amongst the participants.


Ta
ams


Quoting samer960
hi
just to say thank you for opening this thread .
i can say i trade almost the same way u do ( certainly not as good as u do )
looking forward to participate .
regards
samer
  • #16
  • Edited 8:51am Feb 2, 2010 8:49am | Edited 8:51am
We have a mutual fan club then because your charts inspired me to spend last night cleaning mine up!
Seriously this thread is my kind of stuff, I am excited.
I am short the USDJPY ... not a popular trade I don't think, I posted the charts/reasons in the other thread.
Also
I bought USDCAD this morning, I like this 1.06 level and retest of the trendline and the double bottom in place.

Edit: I might be early with this USDCAD trade, but nothing seems to be retracing as much as I thought it would.

PS - I starting posting analysis again if you still have the link

Quoting ams
Hi Nicola,

Welcome, how are you mate
Hope new pad is comfy?

You are one of the few traders I admire on this forum so your analysis is something I would appreciate and like to see more often!!

You are right, I am scalping only. All charts posted above are what I see as support, resistance. So Intend to trade only in their direction.


ta
ams
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.gif Size: 40 KB
  • #17
  • Edited 9:40am Feb 2, 2010 9:19am | Edited 9:40am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Cool, see that's why I admire your trades!
You wait for the right time before attacking.

Both trades are indeed in the right direction i.e. with the immediate trend
Markets are unsettled at the moment and I think they will be until the NFP, nothing unusual there.
Hence, I am doing scalps whenever I can regardless of trend direction. However, looking to change my strategy from now on. Trade based on price behaviour. Makes life easier and little safe then usual.

I do have the link to your site as I visit it often to see how you are doing and what trades have you opened etc....Don't want to upset the cougar who left the club

http://big-trading.blogspot.com/


EDIT: Confused about the USDCAD trade as technically we are in a downtrend for the pair on daily chart (attached). Generally, it's sell all rallies. Price atm is 1.06, I am not sure if we close below 1.056 today. If that's the case then we will see false breakouts until NFP.


ta
ams




Quoting elitejets
We have a mutual fan club then because your charts inspired me to spend last night cleaning mine up!
Seriously this thread is my kind of stuff, I am excited.
I am short the USDJPY ... not a popular trade I don't think, I posted the charts/reasons in the other thread.
Also
I bought USDCAD this morning, I like this 1.06 level and retest of the trendline and the double bottom in place.

Edit:...
Attached Image (click to enlarge)
Click to Enlarge Name: uc_daily.gif Size: 15 KB
  • #18
  • Feb 2, 2010 11:38am Feb 2, 2010 11:38am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I am sure of one thing atleast, I do not see any buying yet for any currency apart from USD. I expected something before the NFP or atleast for the pound before the BOE news. I am disappointed.

Either we are going to tank bad on all the currencies opposite USD or this is a dodge for buying into the weakness. We will get to know tomorrow for sure.

My target for GU is atleast 61xx or more for me to consider shorting it.


Another view point for UJ.


ta
ams
Attached Image (click to enlarge)
Click to Enlarge Name: uj_daily.gif Size: 13 KB
  • #19
  • Feb 2, 2010 11:57am Feb 2, 2010 11:57am
Thanks Ams, UJ could go either way here ...

There doesn't seem to be any volume or conviction.
Weakhanded shorts are buying to cover in equities causing a bit of a squeeze and that looks like more of the driver in currencies than any conviction selling of USD.
Nothing has had a really big rebound which is bearish. Now I just have to master the patience thing ...
  • #20
  • Feb 3, 2010 1:43am Feb 3, 2010 1:43am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I took cable long @ 586xx first then closed it @ 59450.
Reopened another @ 59 target 61 or more probably.


I'll now post on my thread as well. Intention is not to screw DT's thread for calls related to all other currencies I've mentioned on this thread




ta
ams
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