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Forex Day Trading

  • #1,201
  • Oct 5, 2011 7:18am Oct 5, 2011 7:18am
Quoting dan89
Hi DW, whats the highest time frame you would look at to dertermine the trend when trading the 5min chart. Im thinking that the 1hr chart would be high enough since you could get a 5min trend within just 1 4hr candle
Hi Dan,

I tend not to go any higher than the 1 hour. I will draw my lines mainly from the one hour chart and at times the 15 min if anything stands out.

"Trend" can be a tricky thing if you look at too many time frames, which is why I prefer horizontal levels.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,202
  • Oct 5, 2011 7:19am Oct 5, 2011 7:19am
Quoting DarkWolF
Hi guys,

Havent done many longer term trades of late.

Looking at NZDUSD and potentially EURUSD on 4 hourly for short entries.

Will review daily charts tomorrow for any potential set ups.

Cheers.
Potentially AUDCAD also.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,203
  • Oct 5, 2011 7:27am Oct 5, 2011 7:27am
Took a short EU after that PB from the RN area see how it goes.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,204
  • Oct 5, 2011 7:33am Oct 5, 2011 7:33am
Quoting DarkWolF
Took a short EU after that PB from the RN area see how it goes.
Tried to squeeze a few extra pips out of it this time and good chance BE gonna get hit
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,205
  • Oct 5, 2011 7:38am Oct 5, 2011 7:38am
Quoting DarkWolF
Tried to squeeze a few extra pips out of it this time and good chance BE gonna get hit
BE hit.
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  • #1,206
  • Oct 5, 2011 7:41am Oct 5, 2011 7:41am
Well sleep time for me guys.

Good trading, hope the pips come your way for the rest of the session.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,207
  • Oct 5, 2011 7:44am Oct 5, 2011 7:44am
Quoting DarkWolF
BE hit.
Oh the joys of the trader.......

Its always good to see it hit your levels after BE is hit

Can be frustrating, but could just have easily gone the other way
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  • #1,208
  • Oct 5, 2011 9:26am Oct 5, 2011 9:26am
Took this on AU. Lets see.
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  • #1,209
  • Oct 5, 2011 9:50am Oct 5, 2011 9:50am
I closed it for around a pip when price went back up. I realized only after I made the trade that the price had bounced of last weeks low of 9625. Got to look at all the charts.
  • #1,210
  • Oct 5, 2011 10:03am Oct 5, 2011 10:03am
And the price goes straight up. My stops were right around the low there. It might or mightnot have been hit. Life of a trader....
  • #1,211
  • Oct 5, 2011 3:29pm Oct 5, 2011 3:29pm
Quoting doggybones
And the price goes straight up. My stops were right around the low there. It might or mightnot have been hit. Life of a trader....
I know that feeling doggy but that is simply the way it goes at times.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,212
  • Oct 5, 2011 3:33pm Oct 5, 2011 3:33pm
Like you DW I would rather get out at BE than loss.
  • #1,213
  • Oct 5, 2011 3:34pm Oct 5, 2011 3:34pm
Quoting DarkWolF


Looking at NZDUSD and potentially EURUSD on 4 hourly for short entries.


Quoting DarkWolF
Potentially AUDCAD also.
NZDUSD and EURUSD were not triggered.

AUDCAD triggered short @ 1.00613

Still keeping an eye on EU, NZDUSD and potentially AUDUSD for possible entry.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,214
  • Oct 5, 2011 3:37pm Oct 5, 2011 3:37pm
Quoting doggybones
Like you DW I would rather get out at BE than loss.
Ya' I do like to play on the safe side even though at times it can be frustrating, but the market will always have other opportunities.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,215
  • Oct 5, 2011 3:41pm Oct 5, 2011 3:41pm
Nothing really grabbing my attention on the daily TF, one or 2 that could be a maybe but for now no orders placed.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,216
  • Oct 5, 2011 7:49pm Oct 5, 2011 7:49pm
Short EU 5 min, this one took a bit of time to make a move going sideways below the RN area for some time. +12 pips
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  • #1,217
  • Oct 5, 2011 8:05pm Oct 5, 2011 8:05pm
GBPUSD short 5 min for +12 pips, this one was all over relatively quickly which was good after that drawn out trade on EU.
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  • #1,218
  • Oct 6, 2011 12:19am Oct 6, 2011 12:19am
Long on GU from RN area, raised stop but that was soon hit. +22 pips
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  • #1,219
  • Oct 6, 2011 12:34am Oct 6, 2011 12:34am
AUDCAD 4 hourly not looking too good at the moment. Currently -28 pips
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,220
  • Oct 6, 2011 1:33am Oct 6, 2011 1:33am
Got a little lucky with this move I think. Moved stop up to lock in +32 pips
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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