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Price Action and Trading Discussion

  • #1,081
  • Mar 4, 2012 4:11pm Mar 4, 2012 4:11pm
Quoting dan89
60MM - you mentioned in a earlier post that you look for engulfing bars (where the body of the candle has to engluf the body - high/low - or the previous candle. Below is one of your charts where I have drawn at the top what I assume is a englufing candle pattern, is this correct. Looking at your entry candle on that chart it doesnt look like it is an englufing pattern, or am I missing something?

Attachment
Hi Dan you are right on both counts.... I have a secondary entry type and this is an example of it... I dont want to clog up DW's thread though so pm me or keep an eye n my own thread and i will explain it there.

Seems like a solid s/r price action thing here, and I have traded that myself alot, its consistent and works... I just dont want to blow things off course after DW has put in all the work.
tradewith60
  • #1,082
  • Mar 4, 2012 5:53pm Mar 4, 2012 5:53pm
Quoting 60minuteman
I dont want to clog up DW's thread though so pm me or keep an eye n my own thread and i will explain it there.

I just dont want to blow things off course after DW has put in all the work.
hi 60mm
cant wait to join ur thread.
pm me when u created 1.
tq.
happy trading.
  • #1,083
  • Mar 12, 2012 7:46am Mar 12, 2012 7:46am
heres several pairs im looking at for trades. decided to give longer term time frames a go this time. Arrows indicate whether im looking to short or go long, red line is the support or resistance area that im looking to trade of from a pullback. Still a number of days before anything sets up though with the exception of GU mabey.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy 4hr.gif Size: 12 KB


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Click to Enlarge Name: eurchf 4hr.gif Size: 13 KB


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Click to Enlarge Name: eurusd 4hr.gif Size: 13 KB


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edit: just noticed you cant see the arrow but you can easily figure it out
  • #1,084
  • Mar 13, 2012 11:57am Mar 13, 2012 11:57am
Quoting dan89
heres several pairs im looking at for trades. decided to give longer term time frames a go this time. Arrows indicate whether im looking to short or go long, red line is the support or resistance area that im looking to trade of from a pullback. Still a number of days before anything sets up though with the exception of GU mabey.

Attachment

Attachment

Attachment

Attachment

edit: just noticed you cant see the arrow but you can easily figure it out
still waiting for something to happen on these pairs. GU and EU looking to take a short soon when the retracement seems over.
  • #1,085
  • Mar 13, 2012 12:04pm Mar 13, 2012 12:04pm
Here is one I took that i forgot about
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Click to Enlarge Name: 13-03-2012 16-59-42.jpg Size: 53 KB
  • #1,086
  • Mar 14, 2012 12:40pm Mar 14, 2012 12:40pm
Quoting dan89
heres several pairs im looking at for trades. decided to give longer term time frames a go this time. Arrows indicate whether im looking to short or go long, red line is the support or resistance area that im looking to trade of from a pullback. Still a number of days before anything sets up though with the exception of GU mabey.

Attachment

Attachment

Attachment

Attachment

edit: just noticed you cant see the arrow but you can easily figure it out
still waiting on a few setups on these pairs. Got to get used to waiting so long on the higher TF's ...
  • #1,087
  • Mar 27, 2012 4:06am Mar 27, 2012 4:06am
Hi guys,

Well first night back looking at the charts after a 3 and a half week holiday.

I hope all have been catching some good trades.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,088
  • Mar 27, 2012 4:29am Mar 27, 2012 4:29am
Long on EUR/USD , target 1.3414
  • #1,089
  • Mar 27, 2012 5:51am Mar 27, 2012 5:51am
Quoting DarkWolF
Hi guys,

Well first night back looking at the charts after a 3 and a half week holiday.

I hope all have been catching some good trades.
Hi mate, Good to see you back on the forums

How was the wedding and holiday ? hope you had a good time and things went to plan.

Trading wise ... still struggling but ive now moved up to the 4hr timeframe because the lower tf was just too much to watch all day long. Still learning, hopefully ill get this someday.
  • #1,090
  • Mar 27, 2012 6:42am Mar 27, 2012 6:42am
Quoting dan89
Hi mate, Good to see you back on the forums

How was the wedding and holiday ? hope you had a good time and things went to plan.

Trading wise ... still struggling but ive now moved up to the 4hr timeframe because the lower tf was just too much to watch all day long. Still learning, hopefully ill get this someday.
Hi Dan,

Wedding was fantastic and holiday was just as good. Long flight today to get back and have not had a lot of sleep as yet but will be taking care of that real soon.

Stick with it, keep going on demo until you nail it then look to move to the live accounts.

Ya' the longer term trading can be much better in terms of less screen time that is for sure and is likely where I will switch my focus to for the near future looking at 4 hourly and daily charts.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,091
  • Mar 28, 2012 8:54pm Mar 28, 2012 8:54pm
Hi DW,

I have learnt a lot from your old post, thanks for the great inputs! I wish to continue learning and sharing. BTW, congrats on your wedding!!!

THK
  • #1,092
  • Mar 29, 2012 6:00am Mar 29, 2012 6:00am
Quoting T_hk
Hi DW,

I have learnt a lot from your old post, thanks for the great inputs! I wish to continue learning and sharing. BTW, congrats on your wedding!!!

THK
Hi THK,

Thanks mate.

I have only been back a couple of days now and have just been watching the charts mainly for a couple of days to see how its all going.

Have just opened a short on NZDUSD 4 hourly and looking at a potential short for EURCAD 4 hourly also. Im liking the look of Cable also for a move to the short side.

Have been a bit busy last couple of days catching up with everything so hopefully from Monday I can get back into some posting an some analysis of the charts.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,093
  • Mar 29, 2012 6:14am Mar 29, 2012 6:14am
NZDUSD and Cable 4 hourly charts with short positions and target areas.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cable 4 hr.jpg Size: 74 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,094
  • Mar 29, 2012 6:22am Mar 29, 2012 6:22am
Hi DW,

I took a long trade on EURUSD on H4 but closed it at breakeven. An hour back I was looking at the charts again trying to find trading opportunity I figured (with my limited experience) that most of the pairs (majors) are going through retracement/correction and they are all around long term support or resistance. There could be a minor retracement downwards in case of EU and its correlated pairs, after which the 3rd leg (uptrend) should start, I will try to find opportunity then.

I could be wrong (which most of the time happens ) but let me see how it works out. Thanks.

THK
  • #1,095
  • Mar 29, 2012 6:29am Mar 29, 2012 6:29am
Quoting DarkWolF
NZDUSD and Cable 4 hourly charts with short positions and target areas.
Hi DW,

How long you are expecting your trade to run i.e. when do you think the targets will be achieved (today or tomorrow)?
  • #1,096
  • Mar 29, 2012 6:32am Mar 29, 2012 6:32am
Quoting T_hk
Hi DW,

I took a long trade on EURUSD on H4 but closed it at breakeven. An hour back I was looking at the charts again trying to find trading opportunity I figured (with my limited experience) that most of the pairs (majors) are going through retracement/correction and they are all around long term support or resistance. There could be a minor retracement downwards in case of EU and its correlated pairs, after which the 3rd leg (uptrend) should start, I will try to find opportunity then.

I could be wrong (which most of the time happens ) but...
Ya' there was a potential looking long on EU 4 hourly a few bars back of which if you were on the last bar has gone straight against it. It's currently sitting at a good support area and pretty much on the trend line, be interesting to see where it goes from here.

4 hourly has been making higher highs and higher lows but the daily has been pretty much sideway by the looks. 1.3400 ish area providing some resistance
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 75 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,097
  • Mar 29, 2012 6:37am Mar 29, 2012 6:37am
Quoting T_hk
Hi DW,

How long you are expecting your trade to run i.e. when do you think the targets will be achieved (today or tomorrow)?
Never can tell, sometimes can happen rather quickly other time it may drag out.

As with any trade there is the very good chance that my targets may not even be achieved and the stops are taken out.

First couple of trades taken since being back so lets hope that doesnt happen.

But as with all things trading nothing is for certain and until there is at least a break even on the position each trade has just as much probability of being a stop out as it does a profitable trade.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,098
  • Mar 29, 2012 7:01am Mar 29, 2012 7:01am
Well said DW!!!
  • #1,099
  • Mar 29, 2012 7:05am Mar 29, 2012 7:05am
Just looking back over some charts, never ceases to amaze me, horizontal areas and trend lines.

No surprise price stalled where it did. A good target area if you were short, trend line and RN area.

NZDJPY 4 hourly.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 60 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,100
  • Mar 29, 2012 7:07am Mar 29, 2012 7:07am
Quoting T_hk
Well said DW!!!
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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