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Price Action and Trading Discussion

  • #321
  • Nov 21, 2011 1:27am Nov 21, 2011 1:27am
Morning All !

DW any chance you could post up your sup/res lines on the 5min chart so I could compare to mine please ?

Cheers
Dan
  • #322
  • Nov 21, 2011 1:27am Nov 21, 2011 1:27am
Well guys another week begins.

Just fired up the charts for the first time this week to see whats going on and not much
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  • #323
  • Nov 21, 2011 1:40am Nov 21, 2011 1:40am
Quoting dan89
Morning All !

DW any chance you could post up your sup/res lines on the 5min chart so I could compare to mine please ?

Cheers
Dan
here is mine



okay just kidding, either dont trade a range market, or trade ur prediction of the breakout. dont even think of stops on both sides. that is where stop hunts happen.

either dont trade range wait for b/o and just retest and play.

how bout try supply demand? they are great tool to add to PA toolbox.

s/r is too weak. by the time price reach there its gone. s/r flips are good, but s/r to be played to bounce upon wihtout a flip is weak imo.

IMO.

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Have I got something on my face, SOLDIER?
  • #324
  • Nov 21, 2011 1:42am Nov 21, 2011 1:42am
Quoting dan89
Morning All !

DW any chance you could post up your sup/res lines on the 5min chart so I could compare to mine please ?

Cheers
Dan
Hi Dan,

No probs. This is what im looking at on the 5 min chart. Pretty much range bound from the asian session and end of last weeks NY session. Some key areas around the RN levels so pay to see what happens at those areas.
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  • #325
  • Nov 21, 2011 1:45am Nov 21, 2011 1:45am
Quoting bumapatria
here is mine



okay just kidding, either dont trade a range market, or trade ur prediction of the breakout. dont even think of stops on both sides. that is where stop hunts happen.

either dont trade range wait for b/o and just retest and play.

how bout try supply demand? they are great tool to add to PA toolbox.

s/r is too weak. by the time price reach there its gone. s/r flips are good, but s/r to be played to bounce upon wihtout a flip is weak imo.

IMO.

Just my opinon..... but supply and demand is just another name for support and resistance. I know many will argue otherwise but essentially its just an area of congestion that is acting as support or resistance.... so essentially its simply support and resistance

Lot of lines on that chart Buma.
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  • #326
  • Nov 21, 2011 1:46am Nov 21, 2011 1:46am
Short break of the range, wait for the pullback confirmation and see what happens from there.
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  • #327
  • Nov 21, 2011 1:48am Nov 21, 2011 1:48am
Quoting DarkWolF
Hi Dan,

No probs. This is what im looking at on the 5 min chart. Pretty much range bound from the asian session and end of last weeks NY session. Some key areas around the RN levels so pay to see what happens at those areas.
Cheers mate, I had pretty much the same lines as you except the very bottom one ... mine was a bit lower, but i can see why you have yours where it is. Nice to know im seeing what your seeing
  • #328
  • Nov 21, 2011 1:50am Nov 21, 2011 1:50am
Quoting DarkWolF
Just my opinon..... but supply and demand is just another name for support and resistance. I know many will argue otherwise but essentially its just an area of congestion that is acting as support or resistance.... so essentially its simply support and resistance

Lot of lines on that chart Buma.

u do realize that chart was a joke right?
Have I got something on my face, SOLDIER?
  • #329
  • Nov 21, 2011 1:52am Nov 21, 2011 1:52am
Quoting dan89
Cheers mate, I had pretty much the same lines as you except the very bottom one ... mine was a bit lower, but i can see why you have yours where it is. Nice to know im seeing what your seeing
Remember though it is just an area not exact so slight difference will pretty much be all good
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  • #330
  • Nov 21, 2011 1:53am Nov 21, 2011 1:53am
Quoting bumapatria
u do realize that chart was a joke right?
lol.... I was thinking that as from what I have seen of your charts they are usually a bit more organised

One can never be sure though
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  • #331
  • Nov 21, 2011 1:53am Nov 21, 2011 1:53am
Quoting DarkWolF
Remember though it is just an area not exact so slight difference will pretty much be all good
Yep I understand
  • #332
  • Nov 21, 2011 2:04am Nov 21, 2011 2:04am
no pullback to 50 line for entry. There was a one bar retrace to the line I had at the bottom but did not enter because its only one bar
  • #333
  • Nov 21, 2011 2:05am Nov 21, 2011 2:05am
Quoting DarkWolF
Short break of the range, wait for the pullback confirmation and see what happens from there.
I didnt take it but would have been ok trade
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  • #334
  • Nov 21, 2011 2:15am Nov 21, 2011 2:15am
Quoting DarkWolF
I didnt take it but would have been ok trade
break below the doji bar i guess ?
  • #335
  • Nov 21, 2011 6:09am Nov 21, 2011 6:09am
Quoting dan89
break below the doji bar i guess ?
Sorry Dan had to take off straight after posting that last image.

Ya I probably would have put an entry below the bullish bar but the low is pretty much close the low of the doji also.

Pretty much straight down to the RN area then sideways again.
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  • #336
  • Nov 21, 2011 6:12am Nov 21, 2011 6:12am
EURJPY short on 4 hourly triggerd at 103.354 so see how that one goes. Taking a bit more aggressive entry on this than I normally would.
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  • #337
  • Nov 21, 2011 6:19am Nov 21, 2011 6:19am
Didnt trade this one but just reviewing some charts and a great example here of confluence of key areas on GBPUSD 4 hourly.

Previous support "area" becoming resistance, RN and fibs.

I must have had my eyes closed or not been around for this one but I dont remember noticing it at the time.
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  • #338
  • Nov 21, 2011 6:27am Nov 21, 2011 6:27am
Quoting DarkWolF
Sorry Dan had to take off straight after posting that last image.

Ya I probably would have put an entry below the bullish bar but the low is pretty much close the low of the doji also.

Pretty much straight down to the RN area then sideways again.
below the bullish bar ? Would you of put a short entry below the bullish bar when it closed or waited for the next bar to close ? the bullish bar is PA that i would of considered going short on.
  • #339
  • Nov 21, 2011 6:29am Nov 21, 2011 6:29am
Key "horizontal" areas......

This is why I look for them.

First images shows the lines I put on earlier containing price nicely.

The second one shows potentially I could have had the line just below the RN area might have been a bit better, but support and resistance are "areas" to keep an eye on not exact levels.
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  • #340
  • Nov 21, 2011 6:33am Nov 21, 2011 6:33am
I seem to always be waiting for ranges to break and retest ...which does not leave me with many opportunities in the day

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