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Price Action and Trading Discussion

  • #161
  • Nov 7, 2011 5:06am Nov 7, 2011 5:06am
Quoting dan89
Yep nice call DW.

I decided not to take it since price had broken past and closed above the other 2 areas where there were shorting opportunities, and it was right on the news .. which pushed price higher
Ya I did not take it as already have that AUD trade on the go. Until I can get a BE in place I probably wont add any more (if I can get a BE in place)
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #162
  • Nov 7, 2011 5:08am Nov 7, 2011 5:08am
Well news releases will take out any sort of PA set up without a doubt.

Just consider anything your looking at null and void when news is close by, especially on the shorter TF charts.

Without the news it would have been interesting to see what would have happened....

The first touch back to the trend lines can usually be good opportunities, providing the right PA is given.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #163
  • Nov 7, 2011 5:47am Nov 7, 2011 5:47am
CHF lock

both at BE
Attached Image (click to enlarge)
Click to Enlarge Name: dont break even.gif Size: 14 KB
Have I got something on my face, SOLDIER?
  • #164
  • Nov 7, 2011 5:53am Nov 7, 2011 5:53am
Quoting bumapatria
CHF lock

both at BE
Hi Buma,

An intersting combination, are you planning on holding the short and taking profit on the long ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #165
  • Nov 7, 2011 5:56am Nov 7, 2011 5:56am
well see what PA says right now. possible h/s 3rd shoulder then break fall or just straight pass up. to me its 4th corrective wave as in the big bear candle is momentum so the buy is a flag maybe to retest old supply in m1 and thats where i might close the buy. im buying the retracement basically.

just to lock profit.

CHF buy stopped out. so nothing big now
Have I got something on my face, SOLDIER?
  • #166
  • Nov 7, 2011 5:57am Nov 7, 2011 5:57am
Quoting bumapatria
well see what PA says right now. possible h/s 3rd shoulder then break fall or just straight pass up. to me its 4th corrective wave as in the big bear candle is momentum so the buy is a flag maybe to retest old supply in m1 and thats where i might close the buy
Well if that works out for you and it continues short it will be job well done
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #167
  • Nov 7, 2011 6:03am Nov 7, 2011 6:03am
well its gay lol i shoudlve left it open SL because loss and profit is locked hahaha and right now chf jumps a little down to catch my stupid BE sl and now jumps up.

ill reshort it if PA gives clear signal at last m1 supply here.

ill rather hedge than add positions but whatever it takes for me to make profit i will do so.

leveraging max if i have to. which i never done before but will maybe in 1 year or 2 more when i am really more confident and more smooth
Attached Image (click to enlarge)
Click to Enlarge Name: reshort on retest.gif Size: 19 KB
Have I got something on my face, SOLDIER?
  • #168
  • Nov 7, 2011 6:10am Nov 7, 2011 6:10am
Quoting bumapatria
well its gay lol i shoudlve left it open SL because loss and profit is locked hahaha and right now chf jumps a little down to catch my stupid BE sl and now jumps up.

ill reshort it if PA gives clear signal at last m1 supply here.

ill rather hedge than add positions but whatever it takes for me to make profit i will do so.

leveraging max if i have to. which i never done before but will maybe in 1 year or 2 more when i am really more confident and more smooth
Leveraging max, dangerous in my opinion.

Always practice good risk management and protect your capital.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #169
  • Nov 7, 2011 6:14am Nov 7, 2011 6:14am
Quoting DarkWolF
Leveraging max, dangerous in my opinion.

Always practice good risk management and protect your capital.
of course.... i dont even leverage now ove 2:1!!!

ill use a demo account for trying that out and yes its dangerous very... and live maybe another account with preferabbly less capital
Have I got something on my face, SOLDIER?
  • #170
  • Nov 7, 2011 6:18am Nov 7, 2011 6:18am
Many traders will use high leverage, get on some good trades and think all is good.

Then keep doing the same thing to quickly find they have blown their account.

Unfortunatley for some who do not heed to the warnings of correct risk management, it can be a lesson hard learnt.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #171
  • Nov 7, 2011 6:25am Nov 7, 2011 6:25am
Hindsight is always easy but i thought I might aswell post this one up.

I was looking for a short on the 5min (break and pullback - chart few pages back) but there wasnt an entry.

If i had looked at the higher TF I might of considered taking this trade.

bullish pinbar at the same level ... same confluence of RN, S1, TL and general S/R

Attached Image (click to enlarge)
Click to Enlarge Name: 07-11-2011 12-19-06.jpg Size: 67 KB


Cheers
Dan
  • #172
  • Nov 7, 2011 6:28am Nov 7, 2011 6:28am
hedging usdchf short by selling gbp usd


ADD: closed +1. not liking compressive behavour and supply is way up at that wick.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 23 KB
Have I got something on my face, SOLDIER?
  • #173
  • Nov 7, 2011 6:31am Nov 7, 2011 6:31am
you are long on tf 5? usd-chf!
Quoting bumapatria
CHF lock

both at BE
  • #174
  • Nov 7, 2011 6:36am Nov 7, 2011 6:36am
Quoting dan89
Hindsight is always easy but i thought I might aswell post this one up.

I was looking for a short on the 5min (break and pullback - chart few pages back) but there wasnt an entry.

If i had looked at the higher TF I might of considered taking this trade.

bullish pinbar at the same level ... same confluence of RN, S1, TL and general S/R

Attachment

Cheers
Dan
Ya' it can at times be conflicting view from the shorter to the longer time frames. But when price is hitting support and resistance areas from the longer time frames it does pay to be watching how price reacts.

But as with all things trading there is no "certainty" in what price will do at any given time, simply "probablities".
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #175
  • Nov 7, 2011 6:37am Nov 7, 2011 6:37am
Quoting stevebalmmer
you are long on tf 5? usd-chf!
i was long on that retraceemnt yeah so what? i still have my higher short.

'!' what does that mean

hehe
Have I got something on my face, SOLDIER?
  • #176
  • Nov 7, 2011 6:43am Nov 7, 2011 6:43am
Quoting bumapatria
hedging usdchf short by selling gbp usd


ADD: closed +1. not liking compressive behavour and supply is way up at that wick.
Bit of support in that area for that usdchf.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #177
  • Nov 7, 2011 6:44am Nov 7, 2011 6:44am
exclamation points
  • #178
  • Nov 7, 2011 6:56am Nov 7, 2011 6:56am
chf added short on bear flag confirm
Attached Image (click to enlarge)
Click to Enlarge Name: chf broken.gif Size: 16 KB
Have I got something on my face, SOLDIER?
  • #179
  • Nov 7, 2011 7:31am Nov 7, 2011 7:31am
Well the start of the NY session added a bit of drive back into price.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #180
  • Nov 8, 2011 6:09am Nov 8, 2011 6:09am
Hi guys,

Havent had much of a chance tonight to check out the charts, just having a look now.

Still looking pretty much sideways, including that short on AUDUSD 4 hourly that I took that has done nothing except sideways also.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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