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Price Action and Trading Discussion

  • #421
  • Nov 25, 2011 12:25am Nov 25, 2011 12:25am
hey darwolf hows EJ? i heard the only active pair is gbp jpy but seems dangerous with high spreads
Have I got something on my face, SOLDIER?
  • #422
  • Nov 25, 2011 12:44am Nov 25, 2011 12:44am
EU sure looks set to push lower it seems...

Price just getting squashed...
Attached Image (click to enlarge)
Click to Enlarge Name: eushort4.jpg Size: 83 KB
  • #423
  • Nov 25, 2011 12:53am Nov 25, 2011 12:53am
All done there on that one... +3 x risk on that trade.. risk 3%
Attached Image (click to enlarge)
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  • #424
  • Nov 25, 2011 1:26am Nov 25, 2011 1:26am
15 Trades +116.55% increase to equity... risking 3% per trade...

Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 144 KB
  • #425
  • Edited 3:08pm Nov 25, 2011 1:54am | Edited 3:08pm
Quoting bumapatria
hey darwolf hows EJ? i heard the only active pair is gbp jpy but seems dangerous with high spreads
Looking ok so far.

Don't believe what you hear, believe what you see on the charts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #426
  • Nov 25, 2011 1:57am Nov 25, 2011 1:57am
For those who don't know - we have the Italian bond sale on at 10.00 so if anyone is trading low time frames and thinking about getting into a trade with EUR - I wouldn't. It's not on Forex Factory news but I reckon it might cause a few hassles if you leave yourself open.
  • #427
  • Nov 25, 2011 2:43am Nov 25, 2011 2:43am
Hello,
I would like to ask if you are long position trader do you leave trades open over the weekend or do you close it and reopen it on sunday evenning?
Thank you very much for any thoughts
  • #428
  • Nov 25, 2011 2:59am Nov 25, 2011 2:59am
Quoting Musashi
15 Trades +116.55% increase to equity... risking 3% per trade...

lol ... 200+% in less then 24 hrs .... crazy ! Well done !

Question about your last trade that you posted. Do you usually take a trade into a RN number like you did on that EU and waiting for price to break past. ?

Dan
  • #429
  • Nov 25, 2011 3:09pm Nov 25, 2011 3:09pm
Quoting feredami
Hello,
I would like to ask if you are long position trader do you leave trades open over the weekend or do you close it and reopen it on sunday evenning?
Thank you very much for any thoughts
Hi Feredami,

Yes I will quite often leave positions open over the weekend with my longer term charts like 4 hourly and daily.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #430
  • Nov 25, 2011 8:33pm Nov 25, 2011 8:33pm
dw

i see u ve traded v well n the thread is very active

abt the gold, it is sitting around the "critical line" the entire last week!
more than that, it is also sitting at the gap!
the last 4 candles are covered by MB i.e. Monday candle!
last Thursday IB was broken but rebound making the Friday candle look "half" push down and "half" push up!

the H1/H4 candles show rejection down from RN1700.

would u offer your comments? go south or north?

tq 4 ur time.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: q i gold.gif Size: 22 KB
  • #431
  • Nov 27, 2011 8:34pm Nov 27, 2011 8:34pm
Yo what's happening .....
  • #432
  • Nov 27, 2011 11:16pm Nov 27, 2011 11:16pm
Quoting Musashi
Yo what's happening .....
....not much, just woke up 7:15am over here in London
  • #433
  • Nov 27, 2011 11:36pm Nov 27, 2011 11:36pm
Hi guys,

Just fired up the charts to see whats going on also. Lets see what this week has in store for us
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #434
  • Nov 27, 2011 11:44pm Nov 27, 2011 11:44pm
Looking for a break below and retest of 1.3273 for short EU 5min
  • #435
  • Nov 27, 2011 11:46pm Nov 27, 2011 11:46pm
Quoting tradpat
dw

i see u ve traded v well n the thread is very active

abt the gold, it is sitting around the "critical line" the entire last week!
more than that, it is also sitting at the gap!
the last 4 candles are covered by MB i.e. Monday candle!
last Thursday IB was broken but rebound making the Friday candle look "half" push down and "half" push up!

the H1/H4 candles show rejection down from RN1700.

would u offer your comments? go south or north?

tq 4 ur time.

cheers
Hi Tradpat,

Well that is perched nicely there to essentially go either way.

There is quite a bit of support evident both horizontal, sloping trend line and 61 fib retracement. Based on that one might be inclined to lean towards long positions.

For a short I think I would be inclined to wait for a break of the lows and then a retest of some description.

The larger picture is showing a triangle.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #436
  • Nov 27, 2011 11:47pm Nov 27, 2011 11:47pm
Quoting dan89
Looking for a break below and retest of 1.3273 for short EU 5min
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #437
  • Nov 27, 2011 11:55pm Nov 27, 2011 11:55pm
Quoting dan89
Looking for a break below and retest of 1.3273 for short EU 5min
Normally I would agree, but this gap up on open is a bit of a problem for shorting, this gap up indicates to me that there's buying volume around.

So be cautious of short side until at least price makes a good break below friday lows.

Just my thoughts.
  • #438
  • Nov 28, 2011 12:12am Nov 28, 2011 12:12am
Quoting Musashi
Normally I would agree, but this gap up on open is a bit of a problem for shorting, this gap up indicates to me that there's buying volume around.

So be cautious of short side until at least price makes a good break below friday lows.

Just my thoughts.
Cheers, will take this on board
  • #439
  • Nov 28, 2011 12:23am Nov 28, 2011 12:23am
Quoting dan89
Cheers, will take this on board
Price will typically find support once a gap is filled. Or find resistance depending on the direction of the gap.

Gap up find support - Gap down find resistance (once price closes the gaps)

However this gap will not always get filled to the pip, however sometimes it will do exactly that.
  • #440
  • Nov 28, 2011 12:28am Nov 28, 2011 12:28am
...Thinking of taking a long position if price retraces to 1.3300 and forms some kind of bullish PA
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