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Forex Day Trading

  • #521
  • Sep 6, 2011 6:17am Sep 6, 2011 6:17am
Quoting DarkWolF
Ya' was interesting to see price on EURCHF stopped pretty much on 1.20 ish.

Well if you think bank to when the BOJ intervened with the market during the disasters the markets still eventually continued back to previous levels even after they intervened. I guess after such statments you can never be sure what is going to happen. But its a bold statement by the SNB. It will be interesting to see what takes place with the CHF crosses over the next week or so. I know one thing for sure, I will probably stay clear of them until I see normal kind...
Japanese looks to me more exhausted that the Swiss do. Nevertheless, I see the original weekly trend still pretty much intact. Hence I am just hoping that snb will hold on form quite some time like what they did in 2009 before they may surrender.
  • #522
  • Sep 6, 2011 7:18am Sep 6, 2011 7:18am
EU right back to where it started. Picked up a couple of trades on the way down, sorry no images.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #523
  • Sep 6, 2011 7:47am Sep 6, 2011 7:47am
Quoting DarkWolF
EU right back to where it started. Picked up a couple of trades on the way down, sorry no images.
You're right. I would enter short below 4037 if the price creates a nice swing high above it.
  • #524
  • Sep 6, 2011 8:03am Sep 6, 2011 8:03am
Quoting DarkWolF
Zoomed it up a little for a closer look.

Is this where you took entry and where you have your profit targets ?

Yep that was exactly it
PATIENCE IS A VIRTUE OF KINGS
  • #525
  • Sep 6, 2011 8:07am Sep 6, 2011 8:07am
Quoting ipnee
You're right. I would enter short below 4037 if the price creates a nice swing high above it.
Could be setting up that way
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #526
  • Sep 6, 2011 8:24am Sep 6, 2011 8:24am
Short EU 5 min, +20 pips
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  • #527
  • Sep 6, 2011 8:57am Sep 6, 2011 8:57am
New 4 hourly bar about to start. There is a couple of potential short opportunities across my pairs, but think im gonna sit out on them for now. I may regret that tomorrow
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #528
  • Sep 6, 2011 9:06am Sep 6, 2011 9:06am
Well I think im done for the night, tomorrow is another day to see what the market will present for us.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #529
  • Sep 6, 2011 9:23am Sep 6, 2011 9:23am
Quoting DarkWolF
Well I think im done for the night, tomorrow is another day to see what the market will present for us.
Couldnt resist this one though. +13 pips

Now im done for the day for sure

Looking for short on EJ 4 hourly also, see how it goes.

Good trading all.
Attached Image(s) (click to enlarge)
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  • #530
  • Sep 6, 2011 10:42am Sep 6, 2011 10:42am
Thanks for the great thread DW.

Love the clean charts and simplicity of your trades.

google
  • #531
  • Sep 6, 2011 10:59am Sep 6, 2011 10:59am
Quoting DarkWolF
Short EU 5 min, +20 pips
Quoting DarkWolF
Couldnt resist this one though. +13 pips

Now im done for the day for sure

Looking for short on EJ 4 hourly also, see how it goes.

Good trading all.
dw, u = midas touch
  • #532
  • Sep 6, 2011 11:06am Sep 6, 2011 11:06am
Waiting for TP to hit

AUDUSD
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PATIENCE IS A VIRTUE OF KINGS
  • #533
  • Sep 6, 2011 6:00pm Sep 6, 2011 6:00pm
Quoting google
Thanks for the great thread DW.

Love the clean charts and simplicity of your trades.

google
Hi google,

No probs.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #534
  • Sep 6, 2011 6:01pm Sep 6, 2011 6:01pm
Quoting nbafx
dw, u = midas touch
Not always
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #535
  • Sep 6, 2011 6:04pm Sep 6, 2011 6:04pm
Quoting GermanGS
Waiting for TP to hit

AUDUSD
Hi German,

Nice spot on the trade. Confluence of areas
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #536
  • Sep 6, 2011 6:18pm Sep 6, 2011 6:18pm
Quoting DarkWolF



Looking for short on EJ 4 hourly also, see how it goes.
This one started off nicely, moved back overnight from the support area.

Few economic data releases due out today for JPY so this could end up going either way.
Attached Image (click to enlarge)
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  • #537
  • Sep 6, 2011 7:08pm Sep 6, 2011 7:08pm
Hi guys,

Would not surprise me if we see a bullish or indecision day today. 6 consecutive days short does not happen very often. If its going to break through we may see some bullish movement before the move through support. Or quite simply we may see some range back up to the top as seen over the last few weeks. These are the areas to be watching PA.
Attached Image (click to enlarge)
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  • #538
  • Sep 6, 2011 7:27pm Sep 6, 2011 7:27pm
Quoting DarkWolF
This one started off nicely, moved back overnight from the support area.

Few economic data releases due out today for JPY so this could end up going either way.
do we look at news announcement before making a trade, or basically to follow the PA? the reason asked being that i almost am not able to trade if on news since almost everyday there are news for any currency if not all (i am talking about the RED and ORANGE impact news).

any comment pls. thank you.
happy trading.

cheers
  • #539
  • Sep 6, 2011 7:30pm Sep 6, 2011 7:30pm
Quoting DarkWolF
Hi guys,

Would not surprise me if we see a bullish or indecision day today. 6 consecutive days short does not happen very often. If its going to break through we may see some bullish movement before the move through support. Or quite simply we may see some range back up to the top as seen over the last few weeks. These are the areas to be watching PA.
Longer term view, EU is definately at a key area. The sideways move could simply be a consolodation period before the longer term trend continues, if it can break lower and hold it could be the start of a bearish sentiment.
Attached Image (click to enlarge)
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  • #540
  • Sep 6, 2011 7:52pm Sep 6, 2011 7:52pm
Quoting nbafx
do we look at news announcement before making a trade, or basically to follow the PA? the reason asked being that i almost am not able to trade if on news since almost everyday there are news for any currency if not all (i am talking about the RED and ORANGE impact news).

any comment pls. thank you.
happy trading.

cheers
Hi nba,

I always look at whats going on in the day for economic news releases. It is particulary important when trading the lower time frames as it can make the market swing around a bit.

If I am taking a longer term trade particularly on a daily it doesnt concern me all that much and I focus simply on the PA. Although it can depend on the news.

If for example I was hearing in the local news here in Australia that they were going to raise or lower interest rates and the cash rate was due out then I would be careful. Or for example if there was a whisper of market intervention by central banks like we seen yesterday or in recent times with BOJ then it pays to be careful.

Different releases have different impacts. NFP is one that you just never know what is going to happen.

If you search for it on the net you will find some information about what is what if you want to learn some more about the different releases. A quick look here is a link, I havent read this information though so not sure on how detailed it is.

http://masterinstaforex.com/en/defin...sa-fundamental

Or simply go to the calender on Forex Factory and click the envelope icon next to the release. This will give you some inforamtion about each release.

Over time you will get a feel for what data releases cause the most significant movements.
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