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Price Action and Trading Discussion

  • #61
  • Oct 31, 2011 6:04am Oct 31, 2011 6:04am
Been out just got back to check on the charts. Couple of potentials on the 4 hour charts.

Im currently short on EURAUD @ 1.32640

USDCAD could be an option also but im just going to stick with the one open position for now, dont have BE in as yet.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #62
  • Oct 31, 2011 7:38am Oct 31, 2011 7:38am
Quoting DarkWolF
Im currently short on EURAUD @ 1.32640
BE entered.

Probably should be taking the trade off at this RN level but targeting a bit further down at the lows.
Attached Image(s) (click to enlarge)
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  • #63
  • Oct 31, 2011 12:11pm Oct 31, 2011 12:11pm
Quoting DarkWolF
BE entered.

Probably should be taking the trade off at this RN level but targeting a bit further down at the lows.
Nice one

Just out of interest, what would you say is your win percentage roughly. You seem to win most of your trades !
  • #64
  • Oct 31, 2011 3:19pm Oct 31, 2011 3:19pm
Damn. I only had a few mins to look over the charts last night and my initial thought was "short AUD/USD." But I didn't and now look what it's done.
  • #65
  • Oct 31, 2011 3:23pm Oct 31, 2011 3:23pm
Quoting dan89
Nice one

Just out of interest, what would you say is your win percentage roughly. You seem to win most of your trades !
Hi Dan,

Roughly 80%.

But I dont win them all. Recently got stopped out on CADJPY and I do take a lot of BE trades as I do try to get BE in reasonably early on my trades. But in my opinion BE is better than a loss. Quite often the BE trades that get hit would be losses if I didnt have that BE in.

But stop outs have been a bit less since have been doing less of the 5 min trades and more of the longer term.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #66
  • Oct 31, 2011 3:24pm Oct 31, 2011 3:24pm
Quoting DarkWolF
BE entered.

Probably should be taking the trade off at this RN level but targeting a bit further down at the lows.
TP target got hit overnight.
Attached Image (click to enlarge)
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  • #67
  • Oct 31, 2011 3:27pm Oct 31, 2011 3:27pm
Quoting thegunslinger
Damn. I only had a few mins to look over the charts last night and my initial thought was "short AUD/USD." But I didn't and now look what it's done.
Hi Gun,

Ya' went down couple of hundred pips quite nicely. There is talk that the RBA is going to drop interest rates today so that might force it down a bit further also.

Could have been a nice set up on the 4 hourly short too off that 1.0600 level but was not awake to see that one.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #68
  • Oct 31, 2011 3:38pm Oct 31, 2011 3:38pm
Quoting DarkWolF
Probably no surprise on this move.

Lets see if price can make it back to that clear flip area, although some support evident in the area its at now. 100 more pips unitl the next area though.
Pity I didnt put a short on for the EU daily off the trend line but oh well.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #69
  • Nov 1, 2011 2:40am Nov 1, 2011 2:40am
Quoting DarkWolF
Hi Dan,

Roughly 80%.

But I dont win them all. Recently got stopped out on CADJPY and I do take a lot of BE trades as I do try to get BE in reasonably early on my trades. But in my opinion BE is better than a loss. Quite often the BE trades that get hit would be losses if I didnt have that BE in.

But stop outs have been a bit less since have been doing less of the 5 min trades and more of the longer term.
80% ..nice
  • #70
  • Nov 1, 2011 2:42am Nov 1, 2011 2:42am
Well not much going on for me at the moment on the 4 hourly charts. Probably wont be around when the next one starts to have a look so quite potentially will be no positions for me today.

RBA dropped the rates today so that short on AUDUSD off the 1.0600 area would have been pretty nice.
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  • #71
  • Nov 1, 2011 4:59am Nov 1, 2011 4:59am
Price is at major s/r area. Looking for break below and retest, may take a while though. What do you guys think ?

Attached Image (click to enlarge)
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  • #72
  • Nov 1, 2011 6:51am Nov 1, 2011 6:51am
Quoting dan89
Price is at major s/r area. Looking for break below and retest, may take a while though. What do you guys think ?

Attachment
If it plays out that way Dan that will most certainly be an area to be keeping an eye on what price does.

After close to 450 ish pips straight down I would imagine there would be some sort of rally soon. Maybe this support area might be where that starts.
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  • #73
  • Nov 1, 2011 7:28am Nov 1, 2011 7:28am
DW, you mention that you look at 12 pairs. Which ones are these ?

Cheers
Dan
  • #74
  • Nov 1, 2011 7:34am Nov 1, 2011 7:34am
Quoting dan89
DW, you mention that you look at 12 pairs. Which ones are these ?

Cheers
Dan
Hi Dan,

These are the main ones that I usually trade and have done for some time.

AUDUSD AUDJPY
EURUSD AUDNZD
GBPUSD NZDUSD
EURJPY USDCAD
GBPJPY AUDCAD
EURGBP NZDJPY

These are the 12 new ones that I have recently set up on a new template to to keep an eye on also to see if they add any value for me.

USDJPY GBPCAD
EURAUD GBPNZD
EURCAD EURCHF
EURNZD USDCHF
CADJPY GBPCHF
GBPAUD AUDCHF

But in saying that I am rather cautious when it comes to trading with JPY and CHF crosses due to the recent interventions by those respective banks.
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  • #75
  • Nov 1, 2011 7:37am Nov 1, 2011 7:37am
A lot more patience required when looking at the longer term charts, but essentially looking at the same sort of chart areas etc that I would see on the lower time frames.

Simply be sure to apply the correct risk management to position sizes due to the larger stops that are going to be used.
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  • #76
  • Nov 1, 2011 7:38am Nov 1, 2011 7:38am
Hi guys,

Looking at the hourly, it looked like the E/U is making cliffs in its way down like a mountain. I took this and made to 20-pip trades. No lossers.

ipnee
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  • #77
  • Nov 1, 2011 7:42am Nov 1, 2011 7:42am
Quoting dan89
Price is at major s/r area. Looking for break below and retest, may take a while though. What do you guys think ?

Attachment
Looks like you are getting the hang of the key areas

Old support new resistance, old resistance new support etc etc....

Congestion areas once broken, then being retested.
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  • #78
  • Nov 1, 2011 7:44am Nov 1, 2011 7:44am
Quoting ipnee
Hi guys,

Looking at the hourly, it looked like the E/U is making cliffs in its way down like a mountain. I took this and made to 20-pip trades. No lossers.

ipnee
It sure is making a nice move south.

Nice work ipnee
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  • #79
  • Nov 1, 2011 7:46am Nov 1, 2011 7:46am
I just wish I had put an entry in from that long term trendline that held as resistance
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  • #80
  • Nov 1, 2011 7:53am Nov 1, 2011 7:53am
A quick look at the EU 5 min chart, its days like this when the market is moving that it almost makes trading look easy with the clear swings and moves from the key levels. Its also the days like this that you will pick up some nice pips on the short time frames.

Wasnt around tonight to even look at it though.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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