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Forex Day Trading

  • #461
  • Sep 4, 2011 5:53pm Sep 4, 2011 5:53pm
Well another week begins, Daily charts not giving me much to start with. Potential for short on AUDJPY.

Will let the market find some direction before looking at 4 hourly been a bit of gapping on some pairs on open, and gaps have a tendency of being filled early on.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #462
  • Sep 4, 2011 8:14pm Sep 4, 2011 8:14pm
AUDUSD has the potential to be setting up for a continuation pattern, however there is some good support levels evident.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUD daily.jpg Size: 92 KB
Click to Enlarge Name: aud 4hr.jpg Size: 85 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #463
  • Sep 4, 2011 9:42pm Sep 4, 2011 9:42pm
Quoting GermanGS
Which do you think will be most respected by the market?

Something I have been always braking my head over, which have more
strength?

Sloped - Support/Resistance
Moving Average - Support/Resistance
Horizontal - Support/Resistance

Attachment
hi ggs, good to see here, btw what are the MAs you used in your chart? cheers
  • #464
  • Sep 4, 2011 9:48pm Sep 4, 2011 9:48pm
Quoting DarkWolF
AUDUSD has the potential to be setting up for a continuation pattern, however there is some good support levels evident.
hi dw, the more i see / read your charts, the more i realize i am lacking in "zoom in" charts for analysis the latter is giving so much better view to identify the trend
cheers
  • #465
  • Sep 4, 2011 9:51pm Sep 4, 2011 9:51pm
Quoting nbafx
hi dw, the more i see / read your charts, the more i realize i am lacking in "zoom in" charts for analysis the latter is giving so much better view to identify the trend
cheers
Hi nba,

Yes, you need to be able to see to the left of your charts, as this is where you will be able to see previous levels

If you like to have your charts zoome out for larger view then simply zoom in and draw your lines on and then zoom out again, at leas then you know when price is approaching a line it is an area to pay attention to.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #466
  • Sep 4, 2011 10:48pm Sep 4, 2011 10:48pm
Thanks for reply everyone, thanks for the tip on the horizontal lines DarkWolF and MAs I am using are 34 100 200 all applied to close and exponential.
PATIENCE IS A VIRTUE OF KINGS
  • #467
  • Sep 4, 2011 10:59pm Sep 4, 2011 10:59pm
Quoting GermanGS
Thanks for reply everyone, thanks for the tip on the horizontal lines DarkWolF and MAs I am using are 34 100 200 all applied to close and exponential.
Can be somewhat of a personal preference between traders, some will prefer sloping to horizontal and others horizontal to sloping. I will use both in their own merits but prefer horizontal levels.

They both good areas to keep your eye on, watch for price reaction at they key levels.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #468
  • Sep 4, 2011 11:04pm Sep 4, 2011 11:04pm
I Personally use a Mix of 3 really love MA because its dynamic and use them in trading when they all come together.
PATIENCE IS A VIRTUE OF KINGS
  • #469
  • Sep 5, 2011 1:01am Sep 5, 2011 1:01am
Quoting nbafx

leaving E-G to "fight"
Looking ok so far nba
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #470
  • Sep 5, 2011 2:10am Sep 5, 2011 2:10am
EU short 5 min chart, I was going to target the RN area below on this one but jumped out for +21 pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 67 KB
Click to Enlarge Name: eu2.jpg Size: 61 KB
Click to Enlarge Name: eu3.jpg Size: 64 KB
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  • #471
  • Sep 5, 2011 2:18am Sep 5, 2011 2:18am
Hi everyone,

Shorted GU after a congestion break on the intraday chart.

Seems that some attempt has been made to rally to close the gap, however it could not even make it back that far.

Expecting some selling to happen.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 80 KB
  • #472
  • Sep 5, 2011 2:21am Sep 5, 2011 2:21am
Quoting Musashi
Hi everyone,

Shorted GU after a congestion break on the intraday chart.

Seems that some attempt has been made to rally to close the gap, however it could not even make it back that far.

Expecting some selling to happen.
Nice pick up there for ya'
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #473
  • Sep 5, 2011 2:23am Sep 5, 2011 2:23am
Quoting DarkWolF
Nice pick up there for ya'
Suspect USD strength will continue as per USDCHF chart.
  • #474
  • Sep 5, 2011 2:32am Sep 5, 2011 2:32am
Well lets see if we can get the usual sort of pullback continuation move for a few more pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 5.jpg Size: 66 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #475
  • Sep 5, 2011 2:43am Sep 5, 2011 2:43am
Quoting Musashi
Hi everyone,

Shorted GU after a congestion break on the intraday chart.

Seems that some attempt has been made to rally to close the gap, however it could not even make it back that far.

Expecting some selling to happen.
If cable can break that support you might be in for a a bit of ride next area would be the 4 hourly trend line
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #476
  • Sep 5, 2011 2:49am Sep 5, 2011 2:49am
Quoting DarkWolF
If cable can break that support you might be in for a a bit of ride next area would be the 4 hourly trend line
Going to hold for a bit, moved stop down, so guess will just have to hold and see as usual. There's some support around this level on daily chart however.
  • #477
  • Sep 5, 2011 2:56am Sep 5, 2011 2:56am
Quoting Musashi
Going to hold for a bit, moved stop down, so guess will just have to hold and see as usual. There's some support around this level on daily chart however.
There is definately plenty of support around, but if broken can easily become a resistance area.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 90 KB
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  • #478
  • Sep 5, 2011 3:28am Sep 5, 2011 3:28am
Stopped for -13 pips after an attempt at a continuation from the RN
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu4.jpg Size: 71 KB
Click to Enlarge Name: eu5.jpg Size: 65 KB
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  • #479
  • Sep 5, 2011 5:12am Sep 5, 2011 5:12am
Had another crack at shorting EU from the RN area. Had an itchy trigger finger at +20pips but hought I might have a go at trailing the position, not something that I do a lot. That didnt last too long and was quickly taken out on the trail.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 6.jpg Size: 73 KB
Click to Enlarge Name: eu7.jpg Size: 73 KB
Click to Enlarge Name: eu8.jpg Size: 69 KB
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  • #480
  • Sep 5, 2011 5:37am Sep 5, 2011 5:37am
And another entry short EU 5 min chart, +12 pips.

Might leave it at that for now wait for the NY session see what eventuates.

But as usual ill keep one eye on the charts just in case
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu9.jpg Size: 72 KB
Click to Enlarge Name: eu10.jpg Size: 67 KB
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