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Forex Day Trading

  • #81
  • Aug 16, 2011 6:52pm Aug 16, 2011 6:52pm
e-a has formed 3 little pb over last 3 trading days... just wonder, is this indicating the downtrend diminishing in strength (btw a huge pb shown in weekly)? any idea? welcome comment, thx.

dw, i would like to see a bear or long upper wick candle to form today on chf pairs for shorting opportunity.

i like the pb shown in usd-sin.

happy trading to all.
Attached Image (click to enlarge)
Click to Enlarge Name: e-a short.gif Size: 23 KB
  • #82
  • Aug 16, 2011 7:10pm Aug 16, 2011 7:10pm
Quoting nbafx
e-a has formed 3 little pb over last 3 trading days... just wonder, is this indicating the downtrend diminishing in strength (btw a huge pb shown in weekly)? any idea? welcome comment, thx.

dw, i would like to see a bear or long upper wick candle to form today on chf pairs for shorting opportunity.

i like the pb shown in usd-sin.

happy trading to all.
EURAUD is not a pair that follow but looking at the chart it has been in quite a down trend for some time now.

Currently experiencing a sideways move which is common after trends. There was a bearish rejection from the top of that current sideways movement that could suggest some downward movement.

Will that happen though ? Trading is about probabilities and that is looking highly probable.

Ranges will eventually break just like trends will turn its just a matter of when and what way. Have your stops in play to protect and follow your trading plan.

Yes as far as the CHF pair I will be waiting to see how price reacts at this level before any decisions are made on entering a position.
Attached Image (click to enlarge)
Click to Enlarge Name: EA.jpg Size: 112 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #83
  • Aug 16, 2011 7:11pm Aug 16, 2011 7:11pm
Quoting aman.bashir
so how did u know to short that? i dont understand this...please tell me. i just opened up a new account...though i'm doing well but i want more knowledge
a good link offering candlestick trading
http://www.forexfactory.com/showthre...48#post3283348
  • #84
  • Aug 16, 2011 7:20pm Aug 16, 2011 7:20pm
Quoting nbafx
a good link offering candlestick trading
http://www.forexfactory.com/showthre...48#post3283348
Just checked out that link.

Steve Nilson Vids by the look that guy has uploaded. I have watched those and yes they are quite good at explaining candlestick charting.

Quick google search on Steve Nilson im sure you will find more information on his videos. Not to mention a quick google search on Candlestick Charting / Trading will bring up hours and hours of reading
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #85
  • Edited 7:50pm Aug 16, 2011 7:48pm | Edited 7:50pm
Hi all,

Very interested in this thread, will be following with interest.

Might post some of my own charts if you dont mind, will be trading this on demo just to check out.

Any feedback will be appreciated.

Thanks,

Loooit
Ask me again when I know what I'm talking about.
  • #86
  • Aug 16, 2011 7:52pm Aug 16, 2011 7:52pm
Quoting Loooit
Hi all,

Very interested in this thread, will be following with interest.

Might post some of my own charts if you dont mind, will be trading this on demo just to check out.

Any feedback will be appreciated.

Thanks,

Loooit
Hi Loooit,

Welcome to the thread

All charts welcome.

Hopefully we can provide you with some feedback that may help.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #87
  • Edited 10:48pm Aug 16, 2011 7:59pm | Edited 10:48pm
Hi,

Just put the following trade on at the marked levels.

Hopefully it works out for me,

Basis: bounced off support and will hopefully make it to the other set of resistance.

Just a demo.

Cheers,

Looit

EDIT:

Sorry seem to have lost my original chart, however I will upload the updated one.

Entry and exit on the bars that cross the Vertical lines.

Some things I could have improved on this trade would include an earlier entry. Obviously this works after the fact, but considering my basis was the bounce off the support it seems viable. Also, this would have allowed me a smaller stop and greater R:R. I did actually think this before I entered but couldnt go back in time. Even if it turned to a loss I would have made the same decision.

Im glad my first chart on this thread was a winner...

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 27 KB
Ask me again when I know what I'm talking about.
  • #88
  • Aug 16, 2011 8:09pm Aug 16, 2011 8:09pm
Quoting Loooit
Hi,

Just put the following trade on at the marked levels.

Hopefully it works out for me,

Basis: bounced off support and will hopefully make it to the other set of resistance.

Just a demo.

Cheers,

Looit
Key support and resistance areas are definately good areas to be looking for trade entries.

This time of day during the Asian session price normally moves rather slowly though. Looks like a logical target area though.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #89
  • Aug 16, 2011 8:12pm Aug 16, 2011 8:12pm
Demo trades are a great way to learn and I would highly reccommend perfecting trading on a demo account before moving to live trading.

However you must still attempt to trade the demo as if it was the way you would trade live.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #90
  • Aug 16, 2011 8:31pm Aug 16, 2011 8:31pm
Well I gotta take off to work, working the later shift today so wont be back into charts until sometime just after the start of the NY session.

Good luck with any open trades guys.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #91
  • Aug 16, 2011 9:08pm Aug 16, 2011 9:08pm
Quoting DarkWolF
Demo trades are a great way to learn and I would highly reccommend perfecting trading on a demo account before moving to live trading.

However you must still attempt to trade the demo as if it was the way you would trade live.
Yep trying to do that as much as possible. The problem comes when you are trying out a few systems at the same time. You have to find out which strategy is the one causing all your wins or losses.

But am doing some backtesting as well, focussing on only one strategy.

Cheers,
Ask me again when I know what I'm talking about.
  • #92
  • Aug 16, 2011 10:51pm Aug 16, 2011 10:51pm
Updated My last trade in post 87

Made about 19pips
Ask me again when I know what I'm talking about.
  • #93
  • Aug 17, 2011 7:44am Aug 17, 2011 7:44am
Quoting Loooit
Updated My last trade in post 87

Made about 19pips
Nice work on the trade Loooit.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #94
  • Aug 17, 2011 7:46am Aug 17, 2011 7:46am
Just checking the 4 hourly charts first chance have had to look since early this morning. Looks like EU that I was looking at this morning went the other way. Still another hour or so before new candle to look at any opportunities.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #95
  • Aug 17, 2011 9:11am Aug 17, 2011 9:11am
Quoting nbafx
e-a has formed 3 little pb over last 3 trading days... just wonder, is this indicating the downtrend diminishing in strength (btw a huge pb shown in weekly)? any idea? welcome comment, thx.

happy trading to all.
This one still looking ok for you nba
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #96
  • Aug 17, 2011 10:24am Aug 17, 2011 10:24am
Quoting DarkWolF
This one still looking ok for you nba
a number reversed PBs formed in the past 5 days but were just "medium" down forces... now seeing the MAs widening apart downward... would like to see it stay that way till TP
Attached Image (click to enlarge)
Click to Enlarge Name: e-a h4 short.gif Size: 19 KB
  • #97
  • Aug 17, 2011 6:18pm Aug 17, 2011 6:18pm
Is this thread a general day trading thread or for a specific strategy?

Cheers
Ask me again when I know what I'm talking about.
  • #98
  • Edited Aug 18, 2011 2:45am Aug 17, 2011 11:39pm | Edited Aug 18, 2011 2:45am
Quoting Loooit
Is this thread a general day trading thread or for a specific strategy?

Cheers
Hi Loooit,

There is no specific strategy for this thread I intended it to be simply general discussion on any pair that you might be trading with any strategy. Any discussion and charts welcome.

Main reason being some of the other main stream threads are rather full of irrelvant things and some people get a bit annoyed if posting things they feel are not relevant to that thread.

Hence a general thread about any trading pair or any strategy.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #99
  • Aug 18, 2011 5:54am Aug 18, 2011 5:54am
very good... dw.

allow me to share (sori english is not my main lang)

there many good trading methods posted in net and ff, e.g. g uses PA & 200 MA to stack his trades, b trades with 3 fib no MAs with PA, h uses plain candlestick formation & PA on daily chart mostly, plus more.

i find there is similarity among these experienced traders... no or one indy being used in their trading methods. same goes to dw's 60 ma.

maybe this is a good option to trade... with ease

(of course others have their own favorite trading methods)
  • #100
  • Aug 18, 2011 6:22am Aug 18, 2011 6:22am
after struggling 6 trading days, finally my usd-sgd SLo was hit during the intraday today for BE today the usd was strong to shot north, even thou we saw 2 good reversed PB! (i went short due to the bearish engulfing candle the day before the arrow pointed)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: u-sin 10-8 short 01.gif Size: 23 KB
Click to Enlarge Name: u-sin 10-8 short 95e.gif Size: 24 KB
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