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Price Action and Trading Discussion

  • #181
  • Nov 8, 2011 11:58am Nov 8, 2011 11:58am
Quoting DarkWolF
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.
Hi DW, Are you in this trade yet ? Did you take it at market order or waiting for the break of the doji candle low at 1.0278 ish ?

Dan
  • #182
  • Nov 8, 2011 5:52pm Nov 8, 2011 5:52pm
Quoting dan89
Hi DW, Are you in this trade yet ? Did you take it at market order or waiting for the break of the doji candle low at 1.0278 ish ?

Dan
Hi Dan,

I took this one after the down candle on the 4 hourly that closed after the doji on the 8/11. The trade has pretty much been in drawdown since it started and in hindsight is a trade that I should not have taken. It was within the range and very close to a support area. Looking at it now it is not in a good place to be taking an entry.

Mistake made and now will probably pay the price with a stop being hit.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #183
  • Nov 9, 2011 4:43am Nov 9, 2011 4:43am
Well looks like I ended up getting slightly lucky with my 4 hour AUDUSD trade. Just opened up the charts for the day to see it now with +53 pips in profit after coming very close to taking out my stop which was sitting at 1.04097, looks like the protection of the RN area helped me out this time.

Few pairs now breaking free of the range bound areas they have been in guess can just see how it plays out from here with some of them.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #184
  • Nov 9, 2011 4:55am Nov 9, 2011 4:55am
Quoting DarkWolF
Well looks like I ended up getting slightly lucky with my 4 hour AUDUSD trade. Just opened up the charts for the day to see it now with +53 pips in profit after coming very close to taking out my stop which was sitting at 1.04097, looks like the protection of the RN area helped me out this time.

Few pairs now breaking free of the range bound areas they have been in guess can just see how it plays out from here with some of them.
nice mate!

i am currently 80+ on crude and tiny of off usdcad in profit.
so what is a RN?

i wanna learn ur style of price action trading
Have I got something on my face, SOLDIER?
  • #185
  • Nov 9, 2011 4:59am Nov 9, 2011 4:59am
Quoting bumapatria
nice mate!

i am currently 80+ on crude and tiny of off usdcad in profit.
so what is a RN?

i wanna learn ur style of price action trading
RN is Round Number, you will see that I do refer quite a bit to RN areas and I look for them along with confluence of support and resistance areas.

Nice work on the pips on crude.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #186
  • Nov 9, 2011 5:04am Nov 9, 2011 5:04am
hy dark.
what is your outlook today?
Aud-usd stay on the monthly p line.Euro-usd long?
  • #187
  • Nov 9, 2011 5:17am Nov 9, 2011 5:17am
Quoting stevebalmmer
hy dark.
what is your outlook today?
Aud-usd stay on the monthly p line.Euro-usd long?
Hi Steve,

At the moment both of them are pretty much still in range. Until that range can break and hold it really could go either way.

AUD failed to make new highs so at the moment I would be leaning a little to the short side.

EU also failed to move above the key area of 1.3900 that was the long term support and now holding as resistance. It did go above it briefly only to hit the previous long term trend line and bounce off it. However I think EU is vulnerable to whatever is being said in the news about how they are going to fix the euro zone etc.

As we know with trading.... anything can happen and nothing is for certain.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #188
  • Nov 9, 2011 5:25am Nov 9, 2011 5:25am
Havent done many of the 5 min trades of late. Just took this one off one of my lines that has been there for a couple of days, BE in lets see what happens.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #189
  • Nov 9, 2011 6:14am Nov 9, 2011 6:14am
Quoting dan89
Whats your opinion on this setup ... has some good confluence

Attachment

Dan
Hi Dan,

Are you still keeping an eye on this one ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #190
  • Nov 9, 2011 7:12am Nov 9, 2011 7:12am
Quoting DarkWolF
Hi Dan,

Are you still keeping an eye on this one ?
Hi mate, yeah im keepin'; an eye on it on the 4hr chart. There has not been an entry signal yet. Price moved up to 50% fib.

Do you think price has moved to far up to wait for a retrace and entry. This is something im unsure about ...how far a price break past and then retraces then looking for an entry.

There was an entry singnal on the 1hr though, forgot the name of this candlestick pattern ... However it came after a lower high was made just before it.

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  • #191
  • Edited 2:49pm Nov 9, 2011 2:34pm | Edited 2:49pm
Quoting dan89
Hi mate, yeah im keepin'; an eye on it on the 4hr chart. There has not been an entry signal yet. Price moved up to 50% fib.

Do you think price has moved to far up to wait for a retrace and entry. This is something im unsure about ...how far a price break past and then retraces then looking for an entry.

There was an entry singnal on the 1hr though, forgot the name of this candlestick pattern ... However it came after a lower high was made just before it.

Attachment
How far past is always a hard one and I really coulndt give you an exact answer on that one, I do like to see a pretty clear break then a pullback to the old resistance area or close to it.

Obviously on 4 hour and daily charts this does take patience to wait for this to happen.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #192
  • Nov 9, 2011 2:35pm Nov 9, 2011 2:35pm
Quoting DarkWolF
Havent done many of the 5 min trades of late. Just took this one off one of my lines that has been there for a couple of days, BE in lets see what happens.
Well this turned out to be one of those frustrating moments when the BE is hit and off it goes again. Hit the BE pretty much to the pip. I held it overnight to see what happens and this is what I seen when I woke up.

Oh well... that is trading.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #193
  • Nov 9, 2011 2:37pm Nov 9, 2011 2:37pm
Quoting DarkWolF
Short AUDUSD 4 hourly @ 1.02786

Quoting DarkWolF
Well looks like I ended up getting slightly lucky with my 4 hour AUDUSD trade. Just opened up the charts for the day to see it now with +53 pips in profit after coming very close to taking out my stop which was sitting at 1.04097, looks like the protection of the RN area helped me out this time.

.
TP hit overnight on this one at 1.01451.

I got very lucky on this one I think with price coming very close to my stop on a trade that in hindsight I probably should not have taken.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #194
  • Nov 9, 2011 2:49pm Nov 9, 2011 2:49pm
Quoting DarkWolF
Well this turned out to be one of those frustrating moments when the BE is hit and off it goes again. Hit the BE pretty much to the pip. I held it overnight to see what happens and this is what I seen when I woke up.

Oh well... that is trading.
Unlucky mate. Was a good initial entry though
  • #195
  • Nov 9, 2011 2:50pm Nov 9, 2011 2:50pm
Quoting dan89
Unlucky mate. Was a good initial entry though
Ya' I usually take profit pretty quickly on 5 min trades but thought I would give it a crack after the BE was and see what happens. I almost got lucky
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #196
  • Nov 9, 2011 2:51pm Nov 9, 2011 2:51pm
Quoting DarkWolF
TP hit overnight on this one at 1.01451.

I got very lucky on this one I think with price coming very close to my stop on a trade that in hindsight I probably should not have taken.
Nice !

I have not been looking at the charts today at all and probs wont tomorrow as i've caught the flu and simply cant be bothered to do anything
  • #197
  • Nov 9, 2011 2:52pm Nov 9, 2011 2:52pm
Quoting DarkWolF
Ya' I usually take profit pretty quickly on 5 min trades but thought I would give it a crack after the BE was and see what happens. I almost got lucky
Yup that would of been a really nice trade if BE wasnt taken out. Atleast you had BE in.
  • #198
  • Nov 9, 2011 3:08pm Nov 9, 2011 3:08pm
Quoting dan89
Nice !

I have not been looking at the charts today at all and probs wont tomorrow as i've caught the flu and simply cant be bothered to do anything
Ya the flu will do that to you.

Well I hope you are feeling better soon.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #199
  • Nov 10, 2011 4:14am Nov 10, 2011 4:14am
Start of new 4 hour candle. Not much really on offer. Potential for AUDNZD keeping an eye on that one.

Have an open short position on NZDUSD from .78589 with a BE in place.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #200
  • Nov 10, 2011 4:24am Nov 10, 2011 4:24am
NZDUSD 4 hourly short. Looking for the lows and the RN to hold.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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