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Attachments: Forex Day Trading
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Forex Day Trading

  • #341
  • Sep 1, 2011 12:11am Sep 1, 2011 12:11am
Classic asian session break of range +15 pips
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  • #342
  • Sep 1, 2011 12:15am Sep 1, 2011 12:15am
Now wait for the pullback in price to see if we can get a good reason to re enter, although it does seem to be moving down quite well.
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  • #343
  • Sep 1, 2011 12:24am Sep 1, 2011 12:24am
U/J has been having a tendency recently to break out of range up before it plunges back. I missed the start of this move but I've placed a stop order for a potential break down indicating that the sellers are back in control.
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  • #344
  • Sep 1, 2011 12:30am Sep 1, 2011 12:30am
Bit of support evident on the hourly around this area.
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  • #345
  • Sep 1, 2011 12:38am Sep 1, 2011 12:38am
Quoting DarkWolF
Bit of support evident on the hourly around this area.
o man, u r fast + good + always profit

do u wait for the candle to close at the tf you work with before taking an entry?
  • #346
  • Sep 1, 2011 12:43am Sep 1, 2011 12:43am
Quoting nbafx
o man, u r fast + good + always profit

do u wait for the candle to close at the tf you work with before taking an entry?

Yes I always wait for the candle to close nba before deciding. Make fast work of entering BE also to prevent possible losses. Sometimes it can be frustrating when you get a few BE positions hit but to me that is better than a loss. This particular trade was all over before I could even get a BE in.

Once I do manage to get BE in there is always the option of holding looking for the larger move as once that is in essentially its a free trade.

On the short term charts I do like to get in and out and take my profits then wait for the next set up to present itself, this however does mean that I potentially miss a large move when it does happen. But it works for me so all good. I use the daily and 4 hourly charts to look for the longer term moves.
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  • #347
  • Sep 1, 2011 12:44am Sep 1, 2011 12:44am
Sitting around +50 pips open trade, H1 chart

You can clearly see the importance of Horizontal Support becoming resistance.
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  • #348
  • Sep 1, 2011 12:57am Sep 1, 2011 12:57am
Quoting ipnee
U/J has been having a tendency recently to break out of range up before it plunges back. I missed the start of this move but I've placed a stop order for a potential break down indicating that the sellers are back in control.
Hi ipnee,

This is not a pair that I follow but just had a quick look at the chart. Price is moving into a bit of a resistance area so that is quite possible. It has been a pretty flat chart on the 4 hourly over the last few weeks.
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  • #349
  • Sep 1, 2011 1:04am Sep 1, 2011 1:04am
E/U is sitting right at S on the daily
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  • #350
  • Sep 1, 2011 1:05am Sep 1, 2011 1:05am
EURCHF daily position I moved my stop down on the 4 hourly chart to lock in some profits. Locked in approx 100 pips currently at +230 pips.
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  • #351
  • Sep 1, 2011 1:14am Sep 1, 2011 1:14am
Quoting DarkWolF
Today on the daily and 4 hourly I will be keeping an eye on PA for AUDUSD, NZDUSD, NZDJPY and EURUSD.
NZDUSD was the only one I looked at with entry being triggered. Entry was based on the daily chart indecision bar from yesterday. Attached is a 4 hourly chart of the position.
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  • #352
  • Sep 1, 2011 1:39am Sep 1, 2011 1:39am
Quoting ipnee
E/U is sitting right at S on the daily
Indeed, confluence also with RN and previous horizontal support area, no wonder it stalled where it did
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  • #353
  • Sep 1, 2011 2:09am Sep 1, 2011 2:09am
Quoting DarkWolF
Indeed, confluence also with RN and previous horizontal support area, no wonder it stalled where it did
If I can find a close swing high, I will enter short below 1.4258
  • #354
  • Sep 1, 2011 2:13am Sep 1, 2011 2:13am
Certainly potential for some support at this level.

Time to scale out of this or TP soon.

+86 Pips good pips in anyone's book.
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  • #355
  • Sep 1, 2011 2:24am Sep 1, 2011 2:24am
Quoting ipnee
If I can find a close swing high, I will enter short below 1.4258
Not a good idea I suspect, not at this point in time.
  • #356
  • Sep 1, 2011 2:33am Sep 1, 2011 2:33am
Quoting Musashi
Certainly potential for some support at this level.

Time to scale out of this or TP soon.

+86 Pips good pips in anyone's book.
Nice work Musashi.
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  • #357
  • Sep 1, 2011 2:38am Sep 1, 2011 2:38am
Quoting DarkWolF
Nice work Musashi.
Might seem strange but going long on EU around this level might not be a bad idea.

Certainly a counter trend move. Low probability, but a probability none the less.

Enough factors for me to consider a trade that's for sure.
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  • #358
  • Sep 1, 2011 2:42am Sep 1, 2011 2:42am
Quoting Musashi
Might seem strange but going long on EU around this level might not be a bad idea.

Certainly a counter trend move. Low probability, but a probability none the less.
A large move like that is eventually going to have a rally just a matter of when and how far. Watch for PA around the RN area though.
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  • #359
  • Sep 1, 2011 2:45am Sep 1, 2011 2:45am
Quoting DarkWolF
A large move like that is eventually going to have a rally just a matter of when and how far. Watch for PA around the RN area though.
Area to keep an eye on
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  • #360
  • Sep 1, 2011 2:47am Sep 1, 2011 2:47am
You just never know what will happen in this market.

Well... I seem to know most of the time....
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