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Price Action and Trading Discussion

  • #501
  • Dec 8, 2011 7:36am Dec 8, 2011 7:36am
Quoting Drag
Go to bed! Speak to you tomorrow.

Heading off, was just waiting to see the reaction to the news that was due out. Good luck with any trades guys.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #502
  • Dec 8, 2011 10:41am Dec 8, 2011 10:41am
My best trade of the day - 63 pips on a 5 min chart. This is where everythng goes wrong now.
Attached Image (click to enlarge)
Click to Enlarge Name: cont.JPG Size: 202 KB
  • #503
  • Edited 4:58pm Dec 8, 2011 4:36pm | Edited 4:58pm
Quoting Drag
My best trade of the day - 63 pips on a 5 min chart. This is where everythng goes wrong now.
-63 pips. Thats where you need to have your stops in the market, unless of course your risk management criteria is allowing for larger swings against you. Looks like price pretty much came straight back down after that though.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #504
  • Dec 8, 2011 6:10pm Dec 8, 2011 6:10pm
Pretty sure that is a dash rather than a minus, not many would claim a -63 pip trade as their best
You can quit and they won't care, but you will always know.
  • #505
  • Dec 8, 2011 6:20pm Dec 8, 2011 6:20pm
Thats definitely +63 pips...
  • #506
  • Dec 9, 2011 12:27am Dec 9, 2011 12:27am
Quoting Akuma99
Pretty sure that is a dash rather than a minus, not many would claim a -63 pip trade as their best
Wel I am hoping that it is
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #507
  • Dec 9, 2011 12:33am Dec 9, 2011 12:33am
Ok guys here are the levels that I will be keeping an eye on for EU and GU today.

These lines may be moved slightly up or down depending on what goes on with the 5 min charts.

Sloping trendlines may be added later once the London session starts to kick in.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 84 KB
Click to Enlarge Name: gu.jpg Size: 73 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #508
  • Dec 9, 2011 1:37am Dec 9, 2011 1:37am
http://content.screencast.com/users/...1-01.36.29.png
  • #509
  • Dec 9, 2011 1:48am Dec 9, 2011 1:48am
http://content.screencast.com/users/...1-01.47.52.png
  • #510
  • Dec 9, 2011 2:02am Dec 9, 2011 2:02am
Out -12
  • #511
  • Dec 9, 2011 2:36am Dec 9, 2011 2:36am
Ha ha yes it is +63 pips
Quoting prof8t
Thats definitely +63 pips...
  • #512
  • Dec 9, 2011 2:51am Dec 9, 2011 2:51am
Quoting Drag
Ha ha yes it is +63 pips
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #513
  • Dec 9, 2011 3:09am Dec 9, 2011 3:09am
Quoting mugged
http://content.screencast.com/users/...1-01.36.29.png
Hi Mugged,

Nice chart. Here is my take on what I am looking at on the 4 hourly view. Still very much sideways in recent PA but yes the overall trend is no doubt short on EU. EJ has been very much sideways.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 4 hourly.jpg Size: 123 KB
Click to Enlarge Name: ej 4hourly.jpg Size: 118 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #514
  • Dec 9, 2011 3:21am Dec 9, 2011 3:21am
Just realised after looking back on the posts that your EJ chart was a 5 min one mugged. My apologies I had fallen asleep and only just got up obviously not paying close enough attention

Yes a nice PB from a previous low. A little unfortunate that it did not continue a little futher for you. Something that would have got my attention if I had been watching that.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #515
  • Dec 9, 2011 3:24am Dec 9, 2011 3:24am
Ok short on GU at one of the levels I had put on earlier. Lets see how this one goes.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min.jpg Size: 84 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #516
  • Dec 9, 2011 3:31am Dec 9, 2011 3:31am
Quoting DarkWolF
Ok short on GU at one of the levels I had put on earlier. Lets see how this one goes.
oops, bad mistake by myself, I did not check the news releases, just flicked to the screen and GBP is about to have one, oh well its in play now lets see what happens.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #517
  • Dec 9, 2011 3:34am Dec 9, 2011 3:34am
Awesome. Thank you!


That last hourly bar has quite a bit of push behind it, we also managed to break the near term trend line...

5min chart...
http://content.screencast.com/users/...1-03.31.04.png
  • #518
  • Dec 9, 2011 3:36am Dec 9, 2011 3:36am
Quoting DarkWolF
oops, bad mistake by myself, I did not check the news releases, just flicked to the screen and GBP is about to have one, oh well its in play now lets see what happens.
Stop taken out.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #519
  • Dec 9, 2011 3:41am Dec 9, 2011 3:41am
Quoting mugged
Awesome. Thank you!


That last hourly bar has quite a bit of push behind it, we also managed to break the near term trend line...

5min chart...
http://content.screencast.com/users/...1-03.31.04.png
Indeed. Has this area to contend with as resistance also.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 72 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #520
  • Dec 9, 2011 3:52am Dec 9, 2011 3:52am
Quoting DarkWolF
Indeed. Has this area to contend with as resistance also.
Yup, Im long off that 5min hammer candle ... stop below the low
banking on the previous upside momentum to carry us to the top to the range.

risk: 10
reward: 30
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