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Price Action and Trading Discussion

  • #721
  • Jan 17, 2012 4:23am Jan 17, 2012 4:23am
Thanks for the charts

Just plotted my levels now ... gotta start waking up earlier
  • #722
  • Jan 17, 2012 5:07am Jan 17, 2012 5:07am
Quoting dan89
Thanks for the charts

Just plotted my levels now ... gotta start waking up earlier
No probs.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #723
  • Jan 17, 2012 5:50am Jan 17, 2012 5:50am
Quoting DarkWolF
No probs.
Yo DarkWolF,

take a look at 1,2820/00
  • #724
  • Jan 17, 2012 6:03am Jan 17, 2012 6:03am
Quoting FX-Ray
Yo DarkWolF,

take a look at 1,2820/00
Yep dont worry im keeping an eye on that level Ray
Attached Image (click to enlarge)
Click to Enlarge Name: 3.jpg Size: 142 KB
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  • #725
  • Jan 17, 2012 6:08am Jan 17, 2012 6:08am
DW, Do you still draw your 5min lines from the hourly chart using the last 1-2 days worth of data only. I find myself zooming out too far and using weeks worth of data ?

any advice ?
  • #726
  • Jan 17, 2012 6:09am Jan 17, 2012 6:09am
Quoting DarkWolF
Yep dont worry im keeping an eye on that level Ray
  • #727
  • Jan 17, 2012 6:18am Jan 17, 2012 6:18am
Quoting dan89
DW, Do you still draw your 5min lines from the hourly chart using the last 1-2 days worth of data only. I find myself zooming out too far and using weeks worth of data ?

any advice ?
I wil try to use the most recent days to look for levels, however if there is no obvious leves to within the last few days I will look back further.

Try doing this.

Switch your hourly chart to a line chart. Look for the spikes and draw your lins there. One thing to remember though is that line charts are plotted on closes not highs and lows, but that shouldnt matter too much as your just looking for the "area" not to be exact.

Then switch back to your candle chart. If you need to adjust the lines slightly once switching back then do so.

See if that helps you.
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  • #728
  • Jan 17, 2012 6:23am Jan 17, 2012 6:23am
Quoting FX-Ray
I guess its anyones ball game at the moment, another one of areas where the bulls meet the bears to battle it out.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 92 KB
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  • #729
  • Jan 17, 2012 6:26am Jan 17, 2012 6:26am
Quoting DarkWolF
I guess its anyones ball game at the moment, another one of areas where the bulls meet the bears to battle it out.
Right, Battlezone
  • #730
  • Jan 17, 2012 8:05am Jan 17, 2012 8:05am
hello actioners....

i love revisits.Andrews pitcfork lower ML EU has retested and reversed.it dropped some pips for now
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 22 KB
  • #731
  • Jan 18, 2012 2:52am Jan 18, 2012 2:52am
Quoting fantom
hello actioners....

i love revisits.Andrews pitcfork lower ML EU has retested and reversed.it dropped some pips for now

Hi fantom,

Looks like a good set up, how did the trade end up for ya ?
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  • #732
  • Jan 18, 2012 2:55am Jan 18, 2012 2:55am
Hi guys,

Here are the levels I will be keeping an eye on today, pretty much the same as yesterday only moved one line slightly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 79 KB
Click to Enlarge Name: au 5 min.jpg Size: 76 KB
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  • #733
  • Jan 18, 2012 6:38am Jan 18, 2012 6:38am
trail stop has taken 48 pips
Quote
how did the trade end up for ya ?
  • #734
  • Jan 20, 2012 2:23am Jan 20, 2012 2:23am
Hi guys,

Well lets see what this fine Friday is going to offer up for us
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  • #735
  • Jan 20, 2012 3:42am Jan 20, 2012 3:42am
Short on EU 5 min after the pullback move took place, closed it a few pips before my target RN area, but as I am typing this it just hit the RN line.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu2.jpg Size: 78 KB
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  • #736
  • Jan 20, 2012 3:49am Jan 20, 2012 3:49am
That is why these levels become good TP areas, looking like its going to go straight through it at the moment though.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 78 KB
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  • #737
  • Jan 20, 2012 3:54am Jan 20, 2012 3:54am
Time to wait now, and see where it wants to go from here.
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  • #738
  • Jan 20, 2012 5:08am Jan 20, 2012 5:08am
Took another short with price moving back to one of my horizontal levels. Entered as price moved away from this level.

BE was put in as I did not want to risk some of the pips already made today unecessarily.

TP target was achieved.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu4.jpg Size: 82 KB
Click to Enlarge Name: eu5.jpg Size: 79 KB
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  • #739
  • Jan 20, 2012 5:10am Jan 20, 2012 5:10am
Also entered short on AUDUSD 5 min, entered BE at the RN area as was targetting slightly lower than the RN.

As the RN areas can be levels that cause price to stall, I played it safe and entered BE.

BE was hit shortly after.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au1.jpg Size: 75 KB
Click to Enlarge Name: au2.jpg Size: 72 KB
Click to Enlarge Name: au3.jpg Size: 72 KB
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  • #740
  • Jan 20, 2012 6:42am Jan 20, 2012 6:42am
in addition these examples contain 123 pattern..
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