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Price Action and Trading Discussion

  • #801
  • Jan 30, 2012 2:18pm Jan 30, 2012 2:18pm
The 4 hourly chart of EU shows a good reason as to why price stalled where it did.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4 hourly.jpg Size: 109 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #802
  • Jan 30, 2012 4:12pm Jan 30, 2012 4:12pm
Quoting DarkWolF
Hi Kokchu,

I meant that I was getting tired
My bad, mate. I thought you're referring to the trend losing its momentum.
  • #803
  • Jan 31, 2012 1:57am Jan 31, 2012 1:57am
Morning all. DW could you post up your EU 5min chart when you get a spare min. Im having trouble identifying any decent levels today ?

These are the levels that I have got today drawn off the 1hr chart using about 5days of data

Attached Image (click to enlarge)
Click to Enlarge Name: 31-01-2012 07-55-49.jpg Size: 50 KB


Cheers
Dan
  • #804
  • Jan 31, 2012 2:17am Jan 31, 2012 2:17am
Quoting dan89
Morning all. DW could you post up your EU 5min chart when you get a spare min. Im having trouble identifying any decent levels today ?

These are the levels that I have got today drawn off the 1hr chart using about 5days of data

Attachment

Cheers
Dan
Hi Dan,

No problems at all, here are the areas that I will be looking at, pretty much unchanged from yesterday moved the top line down slightly and have added the black line at the top of todays move pretty much in line with the RN area.

Maybe have a try at switching your chart to a bar chart. Bar charts can at be sometimes easier to see the levels.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 76 KB
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  • #805
  • Jan 31, 2012 2:21am Jan 31, 2012 2:21am
Quoting DarkWolF
Hi Dan,

No problems at all, here are the areas that I will be looking at, pretty much unchanged from yesterday moved the top line down slightly and have added the black line at the top of todays move pretty much in line with the RN area.

Maybe have a try at switching your chart to a bar chart. Bar charts can at be sometimes easier to see the levels.
Cheers mate

I actually had that 1.3123 level but decided to take it off in the end and my bottom level was about the same as yours. Good to know im seeing the charts in a similar way to you
  • #806
  • Jan 31, 2012 2:29am Jan 31, 2012 2:29am
4 hourly chart could be telling a story, but I guess the market will do what the market will do.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4 hourly 1.jpg Size: 104 KB
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  • #807
  • Jan 31, 2012 3:11am Jan 31, 2012 3:11am
just breaking above highs now ...

pinbar forming ...
  • #808
  • Jan 31, 2012 3:15am Jan 31, 2012 3:15am
Quoting dan89
just breaking above highs now ...
Yep lets see what price can offer up from here, ideally would like to see a bit of a higher move and a pullback to the highs, can also begin a sloping trend line upwards from the lows which could come into play at some point.
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  • #809
  • Jan 31, 2012 3:17am Jan 31, 2012 3:17am
Keep an eye on that hourly chart also, last few days it has been pretty much sideways range and we are approaching the top end of that now.
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  • #810
  • Jan 31, 2012 3:21am Jan 31, 2012 3:21am
Im still leaning a little towards the long side for any trades today though based on that 4 hourly. I guess time will tell.

Little bit of pound and EU news out over the next 40 ish minutes. Nothing high impact.
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  • #811
  • Jan 31, 2012 3:21am Jan 31, 2012 3:21am
Quoting DarkWolF
Keep an eye on that hourly chart also, last few days it has been pretty much sideways range and we are approaching the top end of that now.
yeah, doesnt leave much room for a trade if we get a pullback/cont. from the asian highs ..
  • #812
  • Jan 31, 2012 3:42am Jan 31, 2012 3:42am
Took it long, see how it plays it.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 86 KB
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  • #813
  • Jan 31, 2012 3:46am Jan 31, 2012 3:46am
Quoting DarkWolF
Took it long, see how it plays it.
Not looking promising moving straight down towards the stop area
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  • #814
  • Jan 31, 2012 3:47am Jan 31, 2012 3:47am
I just got back infront of the screen so missed this one

is nearest red line your stop ?
  • #815
  • Jan 31, 2012 3:49am Jan 31, 2012 3:49am
Quoting dan89
I just got back infront of the screen so missed this one

is nearest red line your stop ?
Ya, stayed in by the skin of my teeth so far.
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  • #816
  • Jan 31, 2012 4:01am Jan 31, 2012 4:01am
Looks like those old highs holding again now, definately stalled right on the level.
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  • #817
  • Jan 31, 2012 4:09am Jan 31, 2012 4:09am
Gotta grab some food, will update when get back, but looking highly likely this one will stop out
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  • #818
  • Jan 31, 2012 4:22am Jan 31, 2012 4:22am
Stopped. This is where ya gotta be careful ranging markets can quickly chew up some pips against you if your not careful.

On the flip side short from the top of the asian highs would have been good if you had taken that instead
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 69 KB
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  • #819
  • Jan 31, 2012 4:25am Jan 31, 2012 4:25am
If your a fib trader then price currently stalled with an indecision candle on the 61 fib level of the previous move.
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  • #820
  • Jan 31, 2012 3:54pm Jan 31, 2012 3:54pm
4 hourly trend line has broken on the bottom end of the channel.

Some previous lows on the daily chart containing price at the moment.

Now to see where to from here.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4 hourly 2.jpg Size: 112 KB
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