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Price Action and Trading Discussion

  • #661
  • Jan 6, 2012 1:35am Jan 6, 2012 1:35am
Hi Guys,

Here are the levels that I will be keeping an eye on today.

Below the 1.2760 ish area the next main support is a reasonable way away being at the 1.2650 ish area.

Will keep an eye on the RN areas on the way down if it breaks.

Likely to be mostly a range bound day today though with the impending news releases.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 134 KB
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  • #662
  • Jan 6, 2012 1:46am Jan 6, 2012 1:46am
Shorted EU at @ 1.27882 from top of the range area
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  • #663
  • Jan 6, 2012 2:00am Jan 6, 2012 2:00am
Quoting DarkWolF
Shorted EU at @ 1.27882 from top of the range area
BE entered
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  • #664
  • Jan 6, 2012 2:08am Jan 6, 2012 2:08am
Quoting DarkWolF
Shorted EU at @ 1.27882 from top of the range area
TP target achieved, closed it out at the first target rather than wait for the lower end of it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU 1.jpg Size: 125 KB
Click to Enlarge Name: eu 2.jpg Size: 116 KB
Click to Enlarge Name: eu 3.jpg Size: 118 KB
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  • #665
  • Jan 6, 2012 4:48am Jan 6, 2012 4:48am
Short AUD from the top of the range. Took a little while to reach my target area but all good in the end.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au 1.jpg Size: 143 KB
Click to Enlarge Name: au 2.jpg Size: 136 KB
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  • #666
  • Jan 6, 2012 4:53am Jan 6, 2012 4:53am
Quoting DarkWolF
Short AUD from the top of the range. Took a little while to reach my target area but all good in the end.
hmmmm!
  • #667
  • Jan 6, 2012 4:54am Jan 6, 2012 4:54am
Quoting FOURX
hmmmm!
?
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  • #668
  • Jan 6, 2012 4:57am Jan 6, 2012 4:57am
Currently have a short on EU also from 1.27952 target around the 1.27787 ish area.
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  • #669
  • Jan 6, 2012 4:59am Jan 6, 2012 4:59am
nice
  • #670
  • Jan 6, 2012 5:01am Jan 6, 2012 5:01am
With the news just coming out entered BE on my EU short
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  • #671
  • Jan 6, 2012 5:04am Jan 6, 2012 5:04am
Price action:

1 - price breaks to new high / low / both
2 - price reverses from new high / low / both

Options:

1 - Trade the breakout
2 - Trade the reversal
3 - Dont trade and wait.

Keep it simple.
  • #672
  • Jan 6, 2012 5:06am Jan 6, 2012 5:06am
Quoting DarkWolF
Currently have a short on EU also from 1.27952 target around the 1.27787 ish area.
Target achieved.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 4.jpg Size: 119 KB
Click to Enlarge Name: eu5.jpg Size: 119 KB
Click to Enlarge Name: eu 6.jpg Size: 130 KB
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  • #673
  • Jan 6, 2012 5:07am Jan 6, 2012 5:07am
Quoting FX-Ray
Price action:

1 - price breaks to new high / low / both
2 - price reverses from new high / low / both

Options:

1 - Trade the breakout
2 - Trade the reversal
3 - Dont trade and wait.

Keep it simple.
Hi Ray,

Spot on there mate.

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  • #674
  • Jan 6, 2012 5:15am Jan 6, 2012 5:15am
Quoting DarkWolF
Hi Ray,

Spot on there mate.

My first thought when I saw the topic name.
  • #675
  • Jan 6, 2012 5:22am Jan 6, 2012 5:22am
DW

mind if I ask ,why you shorted E/U 2hrs ago by your chart........it was at the break area?
  • #676
  • Jan 6, 2012 5:37am Jan 6, 2012 5:37am
Quoting FOURX
DW

mind if I ask ,why you shorted E/U 2hrs ago by your chart........it was at the break area?
No probs at all FOURX,

Was it the break area or is it simply the top of the range area. With NFP more often than not it will simply range leading up to it.

The first chart is the one I posted earlier showing my levels to keep an eye on for the day.

The second chart shows my entry with price failing to continue higher and move back below my horizontal line. This is where I decided to enter, I hesitated slightly and got in a few pips lower than I would have liked.

Does this make sense ?

Hope it helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 134 KB
Click to Enlarge Name: eu 4.1.jpg Size: 127 KB
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  • #677
  • Jan 6, 2012 5:42am Jan 6, 2012 5:42am
Quoting DarkWolF
No probs at all FOURX,

Was it the break area or is it simply the top of the range area. With NFP more often than not it will simply range leading up to it.

The first chart is the one I posted earlier showing my levels to keep an eye on for the day.

The second chart shows my entry with price failing to continue higher and move back below my horizontal line. This is where I decided to enter, I hesitated slightly and got in a few pips lower than I would have liked.

Does this make sense ?

Hope it helps.
certainly does,thanks
  • #678
  • Jan 6, 2012 5:44am Jan 6, 2012 5:44am
Quoting FOURX
certainly does,thanks
No probs at all.

Cheers.
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  • #679
  • Jan 6, 2012 6:44am Jan 6, 2012 6:44am
Well im done for the week guys.

The session certainly remained sideways and mostly within the range. Got slightly congested at one stage and is likely to stay congested now up until the realease.

Keep your stops tight and your position sizing correct to your risk management if your planning on taking any trades on the NFP release.

Have a good weekend guys.

Cheers.
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  • #680
  • Jan 6, 2012 6:59am Jan 6, 2012 6:59am
Didnt take this one as I am done trading for the day, but again, the horizontal area holding nicely from the top of the range.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.jpg Size: 138 KB
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