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Price Action and Trading Discussion

  • #1,101
  • Mar 29, 2012 9:01am Mar 29, 2012 9:01am
Quoting DarkWolF
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.
Nice to see you posting charts and analysis again DW

I see you have a new look to your charts, no more candle sticks ..

Here is a simple GJ chart ... obvious what im looking at. EJ is very similar so wont post a chart of that.

Never mind the arrows on the chart thats something else.

Attached Image (click to enlarge)
Click to Enlarge Name: 29-03-2012 14-52-45.png Size: 13 KB


Cheers
Dan
  • #1,102
  • Mar 29, 2012 9:27am Mar 29, 2012 9:27am
Quoting DarkWolF
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.
DW, the trade is going in your direction, I am glad. All the best!!!

The 'C' leg in H1 correction failed (very often this happens in the Forex market) and new direction is downtrend.

It is time for me to go to bed, good night. I will see you during London Open Breakout (LOB). Do you trade LOB?

Cheers
  • #1,103
  • Mar 29, 2012 9:51am Mar 29, 2012 9:51am
As far as im aware DW doesnt trade any systems as such. From what I understand from his posts/charts is he just trades price action at key levels e.g. s/r, RN, waiting for price to react around those levels and for PA to confirm an entry. However you would have to wait for him to reply to get a full answer.

Cheers
Dan
  • #1,104
  • Mar 29, 2012 3:53pm Mar 29, 2012 3:53pm
Quoting T_hk
DW, the trade is going in your direction, I am glad. All the best!!!

The 'C' leg in H1 correction failed (very often this happens in the Forex market) and new direction is downtrend.

It is time for me to go to bed, good night. I will see you during London Open Breakout (LOB). Do you trade LOB?

Cheers
Well as you can see it did go slightly in my favour before reversing and stopping me out. NZDUSD trade has done the same but the trade is still open stop has not been hit.

London open breaks I would trade on 5 minute time frames if I am around at that particular time of the day, but at this point in time I havent traded any 5 minute charts since being back. I do not trade the break as such but simply look more for the pullback continuation pattern from the tops or bottoms of the usual asian session range.
Attached Image (click to enlarge)
Click to Enlarge Name: cable stopped.jpg Size: 87 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,105
  • Mar 29, 2012 4:02pm Mar 29, 2012 4:02pm
Quoting dan89
Nice to see you posting charts and analysis again DW

I see you have a new look to your charts, no more candle sticks ..

Here is a simple GJ chart ... obvious what im looking at. EJ is very similar so wont post a chart of that.

Never mind the arrows on the chart thats something else.

Attachment

Cheers
Dan
Hi Dan,

Ya thought I would change the old look of the charts up been looking at the same ones now for too long I used bars for quite a few years in conjuncition with candles so either way is all good to me. I find that the bars make it easier to see the congestion areas and the highs/lows etc, essentially same same though.

GJ looks as though it made a nice bounce at the RN area, I was looking for that but unfortunately this happened while I was sleeping so missed it. Has been a few areas where price has moved away from some key areas but on the bar when I was not around.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 88 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,106
  • Mar 29, 2012 4:10pm Mar 29, 2012 4:10pm
Quoting dan89
As far as im aware DW doesnt trade any systems as such. From what I understand from his posts/charts is he just trades price action at key levels e.g. s/r, RN, waiting for price to react around those levels and for PA to confirm an entry. However you would have to wait for him to reply to get a full answer.

Cheers
Dan
Spot on Dan

Although one can refer to the london open break as the time of day, as the london open tends to be the best time of the day to get that sudden move, a break and then usually a pullback continuation of some description. Still looking for those key horizontal levels though.

Traders will obviously trade it in different ways with many simply doing the break of the asian range which in itself can at times be quite effective.

Depending on the time of the year I can usually be around at that time of day to trade but now that daylight savings has ended here or it will be this weekend and when I return to work I will no longer be around for the exact time of the london open as I will still be at work. Usually get home from work about an hour after the open time when DST is not on. So I usually get a good 5 months ish a year where I can be around for it.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,107
  • Mar 29, 2012 6:27pm Mar 29, 2012 6:27pm
Hi DW,

I just got up and noticed the change. Will be bz during the asian session, see you after work.
  • #1,108
  • Mar 29, 2012 10:46pm Mar 29, 2012 10:46pm
NZDUSD 4 hourly stopped out also.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,109
  • Mar 29, 2012 11:57pm Mar 29, 2012 11:57pm
Just came back for LOB. The H1 impulse is about to complete and touch the D1 resistance. I don't know if there is much to trade during LOB (I trade LOB on H1). Above all today is Friday and I am planning for watching Wrath of Titans on iMax after 5 hours. Join me DW

Before going to bed I deleted my buy stop pending order on GBPUSD, just missed 80 PIPs already.
  • #1,110
  • Mar 30, 2012 12:01am Mar 30, 2012 12:01am
Quoting T_hk
Just came back for LOB. The H1 impulse is about to complete and touch the D1 resistance. I don't know if there is much to trade during LOB (I trade LOB on H1). Above all today is Friday and I am planning for watching Wrath of Titans on iMax after 5 hours. Join me DW

Before going to bed I deleted my buy stop pending order on GBPUSD, just missed 80 PIPs already.
Here is the chart of GBPUSD that I am planning to trade, but counter trend!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-H4.png Size: 36 KB
  • #1,111
  • Mar 30, 2012 12:32am Mar 30, 2012 12:32am
EURUSD is been ranging between W1 Support and H4 Resistance for last 3 days. Do you think there will be a Short today on EU taking it down to W1 support before closing the week?

The reason I see it as a strong confirmation is because the H1 impulse is about to over before retracing and 61.8% Fib levels comes around the W1 support!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4.png Size: 38 KB
  • #1,112
  • Mar 30, 2012 12:48am Mar 30, 2012 12:48am
EU is has been holding the long positions so far, that lower area on the trend line held well on the 4 hourly.

That template you have THC looks like the Hector template ?

Do you trade using his methodology or just apply the template ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,113
  • Mar 30, 2012 12:52am Mar 30, 2012 12:52am
Quoting DarkWolF
EU is has been holding the long positions so far, that lower area on the trend line held well on the 4 hourly.

That template you have THC looks like the Hector template ?

Do you trade using his methodology or just apply the template ?
Yes, I trade his methods + Elliott Waves (esp. Correction) + H4 PA (similar to yours).
  • #1,114
  • Mar 30, 2012 1:48am Mar 30, 2012 1:48am
Quoting T_hk
Yes, I trade his methods + Elliott Waves (esp. Correction) + H4 PA (similar to yours).
I like the way he trades, his videos I would highly recommend to any new traders.

Break, pullback, continuation
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,115
  • Mar 30, 2012 1:59am Mar 30, 2012 1:59am
Quoting DarkWolF
I like the way he trades, his videos I would highly recommend to any new traders.

Break, pullback, continuation
, you remind me his videos again!
  • #1,116
  • Mar 30, 2012 11:12am Mar 30, 2012 11:12am
Quoting DarkWolF
NZDUSD 4 hourly stopped out also.
Unlucky mate.

Can anyone provide me with some links to this Hector guy ?

Here is a pair which im keeping my eye own ... some confluence of fib and s/r

What do you guys think ?

Attached Image (click to enlarge)
Click to Enlarge Name: 30-03-2012 17-06-31.png Size: 16 KB
  • #1,117
  • Mar 30, 2012 1:31pm Mar 30, 2012 1:31pm
Quoting dan89
Unlucky mate.

Can anyone provide me with some links to this Hector guy ?

Here is a pair which im keeping my eye own ... some confluence of fib and s/r

What do you guys think ?

Attachment
no setup .. price broke through
  • #1,118
  • Mar 31, 2012 12:23am Mar 31, 2012 12:23am
Quoting dan89
Unlucky mate.

Can anyone provide me with some links to this Hector guy ?

Here is a pair which im keeping my eye own ... some confluence of fib and s/r

What do you guys think ?

Attachment
Here are the links, and some of my suggestion and inputs:

The 3SMA System: http://www.hectortrader.com/coursechapter1.php. He released this course in 2007. Recently he released his new training course (LearnForexLive 2011) in which he consolidated 3SMA System (added CandleStick tutorial) and is offering it free. Here is the free material you can download from http://www.learnforexlive.com/members-area/. I would highly recommend anyone to know this system inside out. The only drawback is that 3SMA appears only during a Trend. As you might have noticed the market at present is going through a Complex Correction, so you will need to wait for the trend to start.

LearnForexLive 2009 (I call it LearnForexLive v1): This is the best course ever. He is not selling it anymore but I would highly recommend you to visit the course site http://www.learnforexlive.com and contact him on selling this course. In this course he is using Red PowerPoint Templates. This course is from basics to advanced level, he teaches you inside-out of Forex Market and Forex Trading.

LearnForexLive 2011 (I call it LearnForexLive v2): Due to overwhelming request from his students he released this new course. The request was that LearnForexLive 2009 is very difficult to digest and they require a simple course material, hence LearnForexLive 2011 (this course is available @ http://www.learnforexlive.com and he is using Grey PowerPoint Template). If you have long term plans in Forex Trading then stick with LearnForexLive 2009 (and the 3SMA System) but do buy the LearnForexLive 2011 Indicators though, since most of the bugs with previous indicators are fixed and he has some new!!!

So to consolidate, stick with The 3SMA System, LearnForexLive 2009 (v1) and buy LearnForexLive 2011 (v2) indicators. This is purely based on my experience with these 3 video courses.

Thanks.
  • #1,119
  • Mar 31, 2012 9:17pm Mar 31, 2012 9:17pm
Quoting dan89
Unlucky mate.

Can anyone provide me with some links to this Hector guy ?

Here is a pair which im keeping my eye own ... some confluence of fib and s/r

What do you guys think ?

Attachment
Hi Dan,

Search on youtube for hectortrader also and you will get a chance to look at what he does before committing to buying his content.

Here is a link to his youtube pages:

http://www.youtube.com/user/Yaguex/videos

Seems as if the links I try to post do not show up:

Search for Yaguex on you tube that is his username that will take you to his videos.

He essentially trades in direction of trends using 3SMA's using a break, pullback, continuation of trend lines and horizontal areas.

I would think that kind of thing would sound familiar by now just take away the SMA's
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,120
  • Apr 1, 2012 3:07am Apr 1, 2012 3:07am
Another course with bunch of indicators. Don't know any successful Forex trader using the SMA crosses for trading. Have you ever tried pure Price Volatility for trading? Price, this is the only leading indicator.
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