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Price Action and Trading Discussion

  • #1,021
  • Feb 22, 2012 11:37am Feb 22, 2012 11:37am
Thanks DW! great advice Ill be sure to keep that in mind looking forward

Unfortunately, the a/u trade didnt pan out... on to the next one

Quoting DarkWolF
AU 15 min chart attached.

The one thing I try not to do is get too carried away with R:R.

In my opinion I find it better to use the key "areas" as targets to either TP or at the very least have a BE entered if you want to push for more.

If the R:R you are looking for lines up with a key area or measured move from a pattern then all is good. The one thing I think to be careful of is if your R:R target puts it in no mans land where there is no logical or technical reason for it.

I also find in those times when I attempt to push more out...
  • #1,022
  • Edited 4:17am Feb 23, 2012 3:38am | Edited 4:17am
cant reall find any decent levels on EU today. This is what ive got though, DW when you get a spare min could you post up yours ?

Levels:
1.3429
1.3315
1.3287

Attached Image (click to enlarge)
Click to Enlarge Name: 23-02-2012 09-37-14.jpg Size: 46 KB


EDIT: Any thoughts on this ?

Attached Image (click to enlarge)
Click to Enlarge Name: 23-02-2012 10-10-52.png Size: 8 KB


next bar has broken below pinbar so no setup
  • #1,023
  • Feb 23, 2012 4:53am Feb 23, 2012 4:53am
Quoting dan89
cant reall find any decent levels on EU today. This is what ive got though, DW when you get a spare min could you post up yours ?

Levels:
1.3429
1.3315
1.3287

Attachment

EDIT: Any thoughts on this ?

Attachment

next bar has broken below pinbar so no setup
Hi Dan,

Again have been a bit busy tonight so only just getting the charts open now. With a quick look here are some of the areas I would be checking out. Plus of course the RN areas.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 77 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,024
  • Feb 23, 2012 5:38am Feb 23, 2012 5:38am
Quoting DarkWolF
Hi Dan,

Again have been a bit busy tonight so only just getting the charts open now. With a quick look here are some of the areas I would be checking out. Plus of course the RN areas.
cheers mate. I had similar levels on a few of them . Were yours drawn off the one hour ? I had to go quite far back to get my levels
  • #1,025
  • Feb 23, 2012 5:55am Feb 23, 2012 5:55am
Quoting dan89
cheers mate. I had similar levels on a few of them . Were yours drawn off the one hour ? I had to go quite far back to get my levels

They were off the 1 hour chart, but yes same thing I had to go back about 10 days before getting the next relevant areas that lined up with current price.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,026
  • Edited 8:48am Feb 23, 2012 6:15am | Edited 8:48am
Potential short:

Attached Image (click to enlarge)
Click to Enlarge Name: 23-02-2012 12-14-01.png Size: 23 KB


What do you guys think ?

EDIT:

nothing really happening at the moment



Well price got there .. however there was no pullback on the 5m chart to to enter on. 1m showed a nice setup though

Attached Image (click to enlarge)
Click to Enlarge Name: 23-02-2012 14-45-31.png Size: 9 KB
  • #1,027
  • Feb 23, 2012 10:31am Feb 23, 2012 10:31am
Price continuing to react to levels ... no trades still .. boring day
Attached Image (click to enlarge)
Click to Enlarge Name: 23-02-2012 16-29-32.jpg Size: 51 KB
  • #1,028
  • Feb 23, 2012 10:33am Feb 23, 2012 10:33am
GBP/JPY daily is ....
  • #1,029
  • Feb 23, 2012 1:16pm Feb 23, 2012 1:16pm
waited all day for a trade and finally one sets up ....when im away from the charts ... Oh well, nice to see price reacted to pre determined levels through out the day.

Attached Image (click to enlarge)
Click to Enlarge Name: 23-02-2012 19-12-31.png Size: 13 KB
  • #1,030
  • Feb 23, 2012 3:36pm Feb 23, 2012 3:36pm
Quoting dan89
GBP/JPY daily is ....
Yep sure is and when it pauses like this its probably a good chance its going to continue in its original direction, not good for me if I still have the short open.

Good to see the patience starting to creep in Dan and your not trying to force the trades
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,031
  • Feb 24, 2012 3:56am Feb 24, 2012 3:56am
morning all. woke up a little late today. any trades taken so far ?
  • #1,032
  • Feb 24, 2012 8:01am Feb 24, 2012 8:01am
Quoting DarkWolF
GBPJPY daily short is in play at the moment.

Moved against me today but now moved slightly back down again.
Stopped.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily stopped.jpg Size: 133 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,033
  • Feb 27, 2012 3:15am Feb 27, 2012 3:15am
Not so sure about these levels today as they are very far apart and had to zoom way out on the 1hr. Solid line (1hr) dotted (5m). DW could you post up your levels when you get a spare min please

levels:

1.3660
1.3538
1.3425
1.3400

Attached Image (click to enlarge)
Click to Enlarge Name: 27-02-2012 09-09-57.png Size: 20 KB
  • #1,034
  • Feb 27, 2012 4:42am Feb 27, 2012 4:42am
level broke and next level reached however no pullback to enter on ... waiting for the next opportunity

Attached Image (click to enlarge)
Click to Enlarge Name: 27-02-2012 10-40-50.png Size: 12 KB
  • #1,035
  • Feb 27, 2012 8:01am Feb 27, 2012 8:01am
levels working out nicely. Had a look at this setup but did not like it .. move down and retrace before the setup bar was a bit messy and although the trade would of reached the next level it was choppy.

Attached Image (click to enlarge)
Click to Enlarge Name: 27-02-2012 13-58-16.png Size: 10 KB
  • #1,036
  • Feb 27, 2012 8:05am Feb 27, 2012 8:05am
15 m chart on GU (5min is far too choppy for GU)

levels holding well (standard S/R plus xx50 level). looking for PA to confirm a short to next level

Attached Image (click to enlarge)
Click to Enlarge Name: 27-02-2012 14-03-40.png Size: 10 KB
  • #1,037
  • Feb 28, 2012 3:23am Feb 28, 2012 3:23am
Hi guys,

Sorry been a bit busy last couple of days. EU 5 min showing stall right on the trend line area.

My first 5 min trade in some time now. Lets see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 72 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,038
  • Feb 28, 2012 3:31am Feb 28, 2012 3:31am
Had stop below the trend line and wasnt long before the stop was hit.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 2.jpg Size: 72 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,039
  • Feb 28, 2012 3:36am Feb 28, 2012 3:36am
Quoting DarkWolF
Had stop below the trend line and wasnt long before the stop was hit.
Unlucky on that one mate. Quite rare to see you take a loss on the shorter timeframes.
  • #1,040
  • Feb 28, 2012 3:41am Feb 28, 2012 3:41am
Quoting dan89
Unlucky on that one mate. Rare to see you take a loss on the shorter timeframes.
Well they do happen, its just a part of trading. The set up was there for me, price was in the right area and had the right bars unfortunately it did not go my way this time.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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