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Price Action and Trading Discussion

  • #21
  • Oct 28, 2011 1:23am Oct 28, 2011 1:23am
AUDJPY 4 hourly hmmmmm
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #22
  • Oct 28, 2011 1:32am Oct 28, 2011 1:32am
No surprise it stalled there. Lets see if the support in the midway can hold and project it above the asian range.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #23
  • Oct 28, 2011 1:33am Oct 28, 2011 1:33am
Nice trade on the EU

Thanks for the chart aswell. Ive noticed that i tend to look for every little trade instead of waiting for price to reach major/obvious levels of s/r and watching how price reacts. Im gonna keep things simple from now on and see how it goes.
  • #24
  • Oct 28, 2011 1:36am Oct 28, 2011 1:36am
Quoting dan89
Nice trade on the EU

Thanks for the chart aswell. Ive noticed that i tend to look for every little trade instead of waiting for price to reach major/obvious levels of s/r and watching how price reacts. Im gonna keep things simple from now on and see how it goes.
Yes, be very careful of getting caught overtrading, that will kill ya capital.

It doesnt matter if you miss a good entry. Just keep waiting for the stars to line up.

I guess to use the age old analogy, trade like a sniper, sit and wait for the market to come to you. Set the trap and spring it.

All ya need is one to 2 trades per session and all is good.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #25
  • Oct 28, 2011 1:45am Oct 28, 2011 1:45am
Quoting dan89
Im gonna keep things simple from now on and see how it goes.
When I first started out trading that is what one of the people I learnt from said to me.

"Its the simple things that work the best"

During my trading journey looking at all things indicators, moving averages etc looking for what may work, I eventually came back to that one simple statement.

Its the simple things that work the best

I think with time, most traders who survive long enough will come to that realisation.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #26
  • Oct 28, 2011 1:49am Oct 28, 2011 1:49am
Quoting DarkWolF
When I first started out trading that is what one of the people I learnt from said to me.

"Its the simple things that work the best"

During my trading journey looking at all things indicators, moving averages etc looking for what may work, I eventually came back to that one simple statement.

Its the simple things that work the best

I think with time, most traders who survive long enough will come to that realisation.
same here. indicator hunt usually begins in the beginning of the journey, and hunt for the holy grail too. everyone needs to realize that everyone is their own holy grail; they create their own success and failures, no one else.
i think im going to join this thread
i trade PA with lots more lines than ur chart

so what do we trade here?
Have I got something on my face, SOLDIER?
  • #27
  • Oct 28, 2011 1:57am Oct 28, 2011 1:57am
Quoting bumapatria
same here. indicator hunt usually begins in the beginning of the journey, and hunt for the holy grail too. everyone needs to realize that everyone is their own holy grail; they create their own success and failures, no one else.
i think im going to join this thread
i trade PA with lots more lines than ur chart

so what do we trade here?
Hi Buma,

Well said, it sounds like you are one that has been down that journey and come out the other end.

I essentially trade price action, focus mainly on horizontal support and resis areas with RN areas playing a strong part. Trend lines when they are relevant.

Candle patterns also at the right areas.

Short term charts I mainly do EU but will sometimes look at cable and AU not too often though.

Daily and 4 hourly I have 12 main pairs I watch but have started up another 12 also to see if it is worthwhile checking them out as a whole.

Welcome to the thread.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #28
  • Oct 28, 2011 2:00am Oct 28, 2011 2:00am
Quoting DarkWolF
Hi Buma,

Well said, it sounds like you are one that has been down that journey and come out the other end.

I essentially trade price action, focus mainly on horizontal support and resis areas with RN areas playing a strong part. Trend lines when they are relevant.

Candle patterns also at the right areas.

Short term charts I mainly do EU but will sometimes look at cable and AU not too often though.

Daily and 4 hourly I have 12 main pairs I watch but have started up another 12 also to see if it is worthwhile checking them out as a whole....
i trade high tf looking for big wins too. I trade gold mostly, but my dying interst of EU was ressurected, and i got interested yet again. i also do that sort of deal with horizontals, and i do verticals as well
supply demand is base, rejections momentum, accumulation, and impulse also, and rest is for fun
Have I got something on my face, SOLDIER?
  • #29
  • Oct 28, 2011 2:02am Oct 28, 2011 2:02am
Quoting bumapatria
i trade high tf looking for big wins too. I trade gold mostly, but my dying interst of EU was ressurected, and i got interested yet again. i also do that sort of deal with horizontals, and i do verticals as well
supply demand is base, rejections momentum, accumulation, and impulse also, and rest is for fun
Sounds good to me, I look forward to seeing some of your charts and trades.

Ya EU has been pretty much sideways for quite some time now, had a brief move then lots of congested areas.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #30
  • Oct 28, 2011 2:15am Oct 28, 2011 2:15am
well i am currently underwater, no matter. few scouts. my full force is here, for that i am short over 2x. supply zone on daily marked with a yellow rectangle.

this is a saturn synodic cycle chart. and in few days we are entering moon cycle from an up move, so im guessing possible down move soon.

1st chart saturn
2nd chart moon.

it was a wide zone on the daily on the moon chart the demand.
for the sake of visual purposes ill put rectangles i usually spot them eye-wise.

btw areas of consolidation is accumulation of momentum, meaning price could shoot after the charging process. momentum - acumulation - momentum? or impulse?
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Have I got something on my face, SOLDIER?
  • #31
  • Oct 28, 2011 2:32am Oct 28, 2011 2:32am
Quoting bumapatria
well i am currently underwater, no matter. few scouts. my full force is here, for that i am short over 2x. supply zone on daily marked with a yellow rectangle.

this is a saturn synodic cycle chart. and in few days we are entering moon cycle from an up move, so im guessing possible down move soon.

1st chart saturn
2nd chart moon.

it was a wide zone on the daily on the moon chart the demand.
for the sake of visual purposes ill put rectangles i usually spot them eye-wise.

btw areas of consolidation is accumulation of momentum, meaning...
Yes essentially you are using congestion areas as your support and resistance but as a zone or area.

Are they fib fans on your first chart or just lines you have drawn.

Saturn and Moon ? Cant say I know much about that... is that Gann ? or something esle ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #32
  • Oct 28, 2011 2:36am Oct 28, 2011 2:36am
Well the range is holding pretty well so far on EU.

Maybe its gonna stay that way until that lot of news comes out a bit later. Guess we might be waiting to see what the NY'ers have to offer once they hit the charts.
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  • #33
  • Oct 28, 2011 2:45am Oct 28, 2011 2:45am
Quoting DarkWolF
Yes essentially you are using congestion areas as your support and resistance but as a zone or area.

Are they fib fans on your first chart or just lines you have drawn.

Saturn and Moon ? Cant say I know much about that... is that Gann ? or something esle ?
they are drawn on their own specific angles. on 23.5 angles, 45 degree angles, and 63.75. downward angles are negative versions of those. yes its a gann fan, but mt4 ones are not reliable as with most of their stuff heehe....

well try it yourself i guess. saturn synodic cycle with the earth is 337 days. synodic means the time they line up at 0 degrees in space between two celestial objects. i do mostly synodics to earth. only saturn and moon are ones i do. im still basic on this stuff, and the harder cycles are the synodics of planets that do not have earth. they have a tougher formula.

most are quiet about this so i will be willing to share with you the basics in which anyone can use to speculate markets. there are longer cycles like jupiter and uranus, but different cycles have different effects.. im still researching that bit, and what to expect from certain cycles and positions of the celestial objects.
Have I got something on my face, SOLDIER?
  • #34
  • Oct 28, 2011 2:49am Oct 28, 2011 2:49am
Quoting bumapatria
they are drawn on their own specific angles. on 23.5 angles, 45 degree angles, and 63.75. downward angles are negative versions of those. yes its a gann fan, but mt4 ones are not reliable as with most of their stuff heehe....

well try it yourself i guess. saturn synodic cycle with the earth is 337 days. synodic means the time they line up at 0 degrees in space between two celestial objects. i do mostly synodics to earth. only saturn and moon are ones i do. im still basic on this stuff, and the harder cycles are the synodics of planets that do...
Well I must say along my journey Gann is one thing that I did not study too much about.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #35
  • Oct 28, 2011 2:52am Oct 28, 2011 2:52am
Quoting bumapatria

well try it yourself i guess. saturn synodic cycle with the earth is 337 days. synodic means the time they line up at 0 degrees in space between two celestial objects. i do mostly synodics to earth. only saturn and moon are ones i do. im still basic on this stuff, and the harder cycles are the synodics of planets that do not have earth. they have a tougher formula.
  • #36
  • Oct 28, 2011 2:54am Oct 28, 2011 2:54am
Few more mins for new 4 hourly bar. Not much across the pairs. GBPJPY is holding at the 122.00 level though which is the top of a previous congestion zone. Bit of resistance close by though.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #37
  • Oct 28, 2011 2:57am Oct 28, 2011 2:57am
Took EU long again at the bottom of the range area. +16 pips
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  • #38
  • Oct 28, 2011 2:59am Oct 28, 2011 2:59am
Quoting DarkWolF
Took EU long again at the bottom of the range area. +16 pips
Nice !
  • #39
  • Oct 28, 2011 3:06am Oct 28, 2011 3:06am
Quoting DarkWolF
Well I must say along my journey Gann is one thing that I did not study too much about.
the thing is we know what happens, price has tendency to turn on cycles. why and how? its a mystery. really i believe that planetary action have a sort of effect on our decisions and emotions. that also has a connection to theology and many religions. in islam astrology is talked of a lot. i need to research that.. Dark, here is the AUD/USD chart something i never analyzed before.

so lets take the easiest sydonic cycle (revolution and meeting based on 2 bodies) moon and earth. 29.5xxxx days. i rounded up to 30. and lets pick a date in which something bad happened. for the sake of 30 days its easier to plot the cycle on the daily chart. a tool for the cycle lines is available on mt4 standards. and gann fans are with trendlines with angles, and just edit the angles after drawn. fans are drawn from a major swing high or a swing low for best use. the 45 degree angle is the theoretically most powerful support/resistance. i selected the september crash with 30 day periods, and 15 periods for half of the cycle.
gray is half yellow is full cycle. its not always precise because its mysterious no.1 and no.2 im using an averaged number. valid signals are green arrows, and invalid ones are red crosses. tahts why price action needs to be analyzed first then take a trade on cycle.

fans on next post.
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Have I got something on my face, SOLDIER?
  • #40
  • Oct 28, 2011 3:12am Oct 28, 2011 3:12am
I played this nice rang with 41 pips.
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