Forex Day Trading

Hi all,

I am starting this thread to be a general discussion thread on any trading pairs, any discussion is welcome.

I have 12 pairs that I monitor on both daily and 4 hour time frames and I also trade 5 min charts of EURUSD.

I essentially trade Price Action and candle patterns.

Horizontal levels are the key areas that I like to target wether its key support and resistance or round number areas with confluence of other aspects.

Cheers.

DW.

Couple of the trades I took today, first one being EURCHF on the 4 hourly taking +90 pips.

Next one for the day was 5 min EURUSD taking +30 pips

And a quick trade again on EURUSD 5min for +22.

Currently have an open position short on EURUSD from a 4 hourly chart but we will see how this pans out.

Break even entered on this trade now so all good whichever way it decides to go from here.

Anyway time to sleep for me, hopefully I can see my target area reached overnight.

Break even taken out on the EURUSD trade.

AUDUSD daily trade taken the profit off on this one +174 pips

Hmmm what can I say. Practice the correct risk management in any markets and its all good.

No trades for me so far today nothing has really presented itself.

In these circumstances it can be best to simply sit on the sidelines be patient and wait for the market to come to you.

There has however been some good moves on the daily charts, but I will need to now wait for the markets to pullback and then look for some PA signals for entries. These may a take a few days or more to set up though.

Keeping an eye on on both AUDUSD and NZDUSD 4 hourly charts for potential short positions.

AUD below 1.00760 and NZD below .80979.

Will assess this if any of these levels are not made with the current bar.

congrat for your successful trades. impressive! what is the ma you used?

Hi nbafx.

The ma in that chart is a 60 ema.

hi

im monitoring the e-g since a week ago after seeing a long upper wick appeared following the down trend, however quite a volatile pair!

just short the silver based on the long upper wick PB liked on H4 and following the downtrend.

cheers

Will be intersting to follow those trades and see how they unfold nba.

New bar and holding the current levels to keep an eye on for now. They both do however have large spikes forming on daily charts but price is approaching yesterdays lows.

I had a pending order set overnight on AUD and as you can see the order only just got hit and price moved sharply upwards to stop me out.

Thats trading

hi guys,i need to know something really and i didnt find a better place to post it,today we have 2 GBP news (BOE Gov King Speaks and BOE Inflation Report),and i have 3 hedges of gbpusd,gbpchf,eurgbp in my trading account,and i need just 30-35 pips to close them all.
how will this news act?is there any pro fundamental analyzer in here that can really says how bearish or bullish will be this one?
does it sells ?

regards

Hi fxsure,

Personally I could not give you an informed answer on that one. I do not follow the fundamentals too closely I am more technical.

I know that basically I would not hedge positions to begin with and I also would not rely on news releases with the "hope" of having it going in favour of your positions.