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Forex Day Trading

  • #1,061
  • Sep 29, 2011 1:05pm Sep 29, 2011 1:05pm
Quoting dan89
quite a number of nice small trades you got today DW !
It can at times be easier to take small profits than trying to capture large ones all the time. 10 to 20 pip moves in the market are quite frequent. I find that somewhere between 10 to 15 pips easily achieved just means when the market does take off I usually will not be on it unless I decide to just enter BE and hold. But thats all good I am usually happy with jumping on for the ride taking my pips and then looking for the next opportunity.
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  • #1,062
  • Sep 29, 2011 1:08pm Sep 29, 2011 1:08pm
AUD just had a nice RN set up but I didnt take it
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  • #1,063
  • Sep 29, 2011 1:19pm Sep 29, 2011 1:19pm
Geez I gotta go sleep, early hours of the morning here.

Have a good one guys.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,064
  • Sep 29, 2011 10:20pm Sep 29, 2011 10:20pm
Bit of selling evident. Maybe after 3 daily PB's we might start to see a continuation of the short move.
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  • #1,065
  • Sep 30, 2011 12:31am Sep 30, 2011 12:31am
Attempted this one short from the RN area. Stopped for -8 pips
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  • #1,066
  • Sep 30, 2011 1:15am Sep 30, 2011 1:15am
I had a crack at shorting euro around that level as well, seen that price halted at 50% of daily range and shorted, there was also some previous intraday support levels around that region also.

So far working out nicely about +20 pips up.
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  • #1,067
  • Sep 30, 2011 1:30am Sep 30, 2011 1:30am
Quoting Musashi
I had a crack at shorting euro around that level as well, seen that price halted at 50% of daily range and shorted, there was also some previous intraday support levels around that region also.

So far working out nicely about +20 pips up.
and as so often happens... price retraces... taking 20 pips out of the market sometimes is better than holding in an attempt to gain more
  • #1,068
  • Edited 1:47am Sep 30, 2011 1:35am | Edited 1:47am
I put break even onto first position in an attempt to gain a larger move and see if this market will trend... added another position on that pull back to the xx50 level after some resistance was evident.

Now to see if new lows can happen..

Clear descending pattern... typically will break down in a trending situation.

Nice break and calculating the target area based on AB - CD typical move.

xx00 Levels always going to be difficult area for price to break past.

Looking to TP around here.
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  • #1,069
  • Sep 30, 2011 1:49am Sep 30, 2011 1:49am
Quoting Musashi
I had a crack at shorting euro around that level as well, seen that price halted at 50% of daily range and shorted, there was also some previous intraday support levels around that region also.

So far working out nicely about +20 pips up.
Some nice pips for you there Musashi.

I took this one short from the RN area for +30 pips
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  • #1,070
  • Sep 30, 2011 1:51am Sep 30, 2011 1:51am
Quoting DarkWolF
Some nice pips for you there Musashi.

I took this one short from the RN area for +30 pips
Yes, don't you just love the way price moves from one xx50 to xx00 level and so on and so on...
  • #1,071
  • Sep 30, 2011 1:54am Sep 30, 2011 1:54am
Quoting Musashi
Yes, don't you just love the way price moves from one xx50 to xx00 level and so on and so on...

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  • #1,072
  • Sep 30, 2011 1:56am Sep 30, 2011 1:56am
If we can see these last few daily bars break low we may see price collapse a bit today.
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  • #1,073
  • Sep 30, 2011 1:59am Sep 30, 2011 1:59am
Quoting DarkWolF
If we can see these last few daily bars break low we may see price collapse a bit today.
Yes indeed ... look at those wicks on the daily chart on EU stacked up high clearly sellers around.

Look out below indeed.

Putting a wide stop on this could net some big gains if your willing to hold for a while.

I just moved my stops down just to lock profits away.
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  • #1,074
  • Sep 30, 2011 2:11am Sep 30, 2011 2:11am
Took one position off of the table and scaled off 80% of remaining...
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  • #1,075
  • Sep 30, 2011 2:13am Sep 30, 2011 2:13am
Quoting Musashi
Took one position off of the table and scaled of 80% of remaining...
Nice trade so far for ya
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  • #1,076
  • Sep 30, 2011 2:39am Sep 30, 2011 2:39am
Price retraced right off of that level.

Coming back to previous intraday lows.
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  • #1,077
  • Sep 30, 2011 2:44am Sep 30, 2011 2:44am
Probably no surprise that it stalled where it did.
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  • #1,078
  • Sep 30, 2011 2:45am Sep 30, 2011 2:45am
Guess now we will see if these intraday lows are going to hold or not.
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  • #1,079
  • Sep 30, 2011 2:47am Sep 30, 2011 2:47am
Not a surprise where it retraced and stopped..

Would like to try to get in again at the xx50 level region.

Might not get back to that level however.
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  • #1,080
  • Sep 30, 2011 2:49am Sep 30, 2011 2:49am
Quoting Musashi
Not a surprise where it retraced and stopped..

Would like to try to get in again at the xx50 level region.

Might not get back to that level however.
Ya next round number will show confulence with trend line also so see what happens when and if it reaches back to those levels.
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