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Forex Day Trading

  • #361
  • Sep 1, 2011 4:48am Sep 1, 2011 4:48am
Quoting Musashi
You just never know what will happen in this market.

Well... I seem to know most of the time....
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #362
  • Sep 1, 2011 5:03am Sep 1, 2011 5:03am
That moment when price will either reverse or continue lower
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  • #363
  • Sep 1, 2011 5:12am Sep 1, 2011 5:12am
Quoting Musashi
That moment when price will either reverse or continue lower
I entered short again but have BE in on it real quick just in case
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #364
  • Sep 1, 2011 5:15am Sep 1, 2011 5:15am
Quoting Musashi
Sitting around +50 pips open trade, H1 chart

You can clearly see the importance of Horizontal Support becoming resistance.


Quoting DarkWolF
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.
i am watching closely... would like to see a long wick candle or engulfing candle closing the RL

Quoting DarkWolF
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.



Quoting DarkWolF
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.
v nice entry

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

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.
RN is surely "planted" in in your mind. care to share where do you pick up this subject?

btw dw which are the lower tf you frequent most? 5M? 15M? or?

cheers
  • #365
  • Sep 1, 2011 5:16am Sep 1, 2011 5:16am
There's something at this level. Anyway just moved stop up under that level and reduced the risk a touch, just in case the initial move direction decides to continue, in all probability it will just chop around for the next few hours.

Just got stopped out on that counter move.

Not willing to commit to anymore trades at the moment.

Time to go watch some TV.
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  • #366
  • Sep 1, 2011 5:17am Sep 1, 2011 5:17am
Quoting DarkWolF
I entered short again but have BE in on it real quick just in case
BE taken out. Think time to sit out and watch on EU for a bit now, let the market settle and decide what way it wants to go. Is always the possiblity there will be some sideways movement now until USD data comes out later.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #367
  • Sep 1, 2011 5:31am Sep 1, 2011 5:31am
Quoting nbafx



RN is surely "planted" in in your mind. care to share where do you pick up this subject?

btw dw which are the lower tf you frequent most? 5M? 15M? or?

cheers
RN is just somthing over time that I have noticed on the charts that are key areas. Most likely as thats where the big players have their orders at therefore becomes a little self fullfilling. If you look back over the charts you will see it time and time again from the RN areas.

5M is the main chart I will trade from on the lower TF.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #368
  • Edited 5:46am Sep 1, 2011 5:34am | Edited 5:46am
Watch that GU it's consolidating at yesterday low region and not much interest going higher.

Likely to go short.

Ok last trade I can't resist this type of setup.
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  • #369
  • Sep 1, 2011 6:13am Sep 1, 2011 6:13am
Quoting DarkWolF
RN is just somthing over time that I have noticed on the charts that are key areas. Most likely as thats where the big players have their orders at therefore becomes a little self fullfilling. If you look back over the charts you will see it time and time again from the RN areas.

5M is the main chart I will trade from on the lower TF.
thx 4 yr reply.
btw u use RN 50 on 5M, what r the RN used for 15M, 1H, 4H and D? sori if this question is sounded "ridiculous?"
  • #370
  • Sep 1, 2011 6:29am Sep 1, 2011 6:29am
Quoting nbafx
thx 4 yr reply.
btw u use RN 50 on 5M, what r the RN used for 15M, 1H, 4H and D? sori if this question is sounded "ridiculous?"
There's quite a lot of totally useless information on other threads around here.

If you stick around here long enough I'm sure you will understand that price and the levels of price is pretty much all that matters.

The time frames at which you trade will not make any difference when looking at the price levels.

If you just consider the market moving in congestion zones, from one level to the next you'll have a greater understand of this market than 90% of the chumps who visit this site.
  • #371
  • Sep 1, 2011 6:45am Sep 1, 2011 6:45am
Quoting nbafx
thx 4 yr reply.
btw u use RN 50 on 5M, what r the RN used for 15M, 1H, 4H and D? sori if this question is sounded "ridiculous?"
The main RN areas that I pay attention to are the 00 and 50. It does not matter what TF as they are relevant to all TF.

They are simply much more obvious to trade from on the 5M chart than they would be on say the daily or 4 hourly. On the longer term charts you would be looking more at the obvious horizontal support and resistance areas. by looking at the major lows and and highs.

Sloping trendlines will have some importance with the more times they are respected the more you will put emphasis on them. Horizontal support and resistance as well as trendlines will be more relevant on the longer term daily and 4 hourly charts.

No question is a stupid question. If I can help I will try my best.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #372
  • Sep 1, 2011 6:50am Sep 1, 2011 6:50am
Quoting Musashi
There's quite a lot of totally useless information on other threads around here.

If you stick around here long enough I'm sure you will understand that price and the levels of price is pretty much all that matters.

The time frames at which you trade will not make any difference when looking at the price levels.

If you just consider the market moving in congestion zones, from one level to the next you'll have a greater understand of this market than 90% of the chumps who visit this site.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #373
  • Sep 1, 2011 7:01am Sep 1, 2011 7:01am
Still looks bearish to me.
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  • #374
  • Sep 1, 2011 7:03am Sep 1, 2011 7:03am
Quoting Musashi
Still looks bearish to me.
Im still thinking sideways until data comes out
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #375
  • Sep 1, 2011 7:06am Sep 1, 2011 7:06am
Start of the NY session might see some movement
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #376
  • Sep 1, 2011 8:44am Sep 1, 2011 8:44am
Stopped on this one. Notice the pattern on the chart though. I noticed this a little too late and should of had the BE in a bit earlier to prevent the stop out.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #377
  • Sep 1, 2011 8:44am Sep 1, 2011 8:44am
Quoting DarkWolF
The main RN areas that I pay attention to are the 00 and 50. It does not matter what TF as they are relevant to all TF.

They are simply much more obvious to trade from on the 5M chart than they would be on say the daily or 4 hourly. On the longer term charts you would be looking more at the obvious horizontal support and resistance areas. by looking at the major lows and and highs.

Sloping trendlines will have some importance with the more times they are respected the more you will put emphasis on them. Horizontal support and resistance...
ok. thx v much for the feedback
me each time getting better understanding with your inputs... that have cleared my misconception in trading
cheers

p.s. i have saved your important replies as "favorites" for future trading reference / notes
  • #378
  • Sep 1, 2011 8:48am Sep 1, 2011 8:48am
Quoting nbafx
ok. thx v much for the feedback
me each time getting better understanding with your inputs... that have cleared my misconception in trading
cheers

p.s. i have saved your important replies as "favorites" for future trading reference / notes
Hi nba,

No probs, glad I can help
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #379
  • Sep 1, 2011 8:49am Sep 1, 2011 8:49am
Quoting DarkWolF
Stopped on this one. Notice the pattern on the chart though. I noticed this a little too late and should of had the BE in a bit earlier to prevent the stop out.
wow! what a good catch from further losing! u have v sharp eyes "0 0" ...unbelievable! another lesson to me (thx)
  • #380
  • Sep 1, 2011 8:52am Sep 1, 2011 8:52am
Quoting nbafx
wow! what a good catch from further losing! u have v sharp eyes "0 0" ...unbelievable! another lesson to me (thx)
I also place my stop just above the RN area when trading away from it as at times when price breaks up thru or down thru RN areas it will do it fast.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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