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Price Action and Trading Discussion

  • #1,161
  • Apr 3, 2012 6:12pm Apr 3, 2012 6:12pm
Quoting pama.fx
Hi DarkWolf
Which are the high impact economic news you pay attention to?
I pretty much simply review the calender here on Forex Factory Pama for high impact.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,162
  • Apr 4, 2012 2:28am Apr 4, 2012 2:28am
I'm out on the USD/JPY short, missed about 15 pips, but gained 9.1. The price didn't go as south as I thought it could have, but it almost knocked me out at breakeven after I moved the SL there.

Also got to scalp the GBP news release just a few minutes ago. I though there was going to be a move at least 10 pips big, but once I saw a pin form on the 1M TF, I went short for 3.2 pips!
Play the players, not the cards.
  • #1,163
  • Apr 4, 2012 7:16pm Apr 4, 2012 7:16pm
Not too much going on with the daily charts at the moment, will check on 4 hourly once we get into the london session later today.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,164
  • Apr 4, 2012 8:20pm Apr 4, 2012 8:20pm
Quoting DarkWolF
Not too much going on with the daily charts at the moment, will check on 4 hourly once we get into the london session later today.
Yen pairs on H4 are potential to short for short term, as (unless you prefer to use) seen on 20 and/or 50 MA moving down. My 2 cents opinion.
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Trade As A Sniper
  • #1,165
  • Apr 4, 2012 8:34pm Apr 4, 2012 8:34pm
Hi Pama,

Yes indeed there is some potential on the Yen pairs.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,166
  • Apr 5, 2012 5:23pm Apr 5, 2012 5:23pm
Quoting 60minuteman
sorry, this is complete rubbish, i personally know many trades and even floor managers in hedge funds and nearly all of them use sma's in their trading, nearly all use trend and price action too...

Relying purely on the indicators for sure is gonna fail... but ma's have been used forever and always will...

well known pro traders using them include raghee horner, turtle traders, steve primo, chris capre... etc etc etc
I have to completley agree with 60minuteman on this I was trained by floor traders and can back this up..
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #1,167
  • Apr 9, 2012 7:38am Apr 9, 2012 7:38am
Hi guys,

Well I hope you have all had a great Easter break.

I can finally now get back to looking at some charting again, by the time I finished setting my PC up after formatting it I discovered some issues that made me format it again. Therefore going through the whole process again and by the time I got this up and going it was time for me to head away for our Easter break.

Back today and looking at charts again.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,168
  • Apr 10, 2012 2:19pm Apr 10, 2012 2:19pm
Quoting DarkWolF
Hi guys,

Well I hope you have all had a great Easter break.

I can finally now get back to looking at some charting again, by the time I finished setting my PC up after formatting it I discovered some issues that made me format it again. Therefore going through the whole process again and by the time I got this up and going it was time for me to head away for our Easter break.

Back today and looking at charts again.
Unlucky with all the problems mate. Hope you had a good easter break
  • #1,169
  • Apr 16, 2012 6:01pm Apr 16, 2012 6:01pm
Quoting dan89
Unlucky with all the problems mate. Hope you had a good easter break
Thread has gone a bit quiet ...

Will start posting charts again from tomorrow onwards
  • #1,170
  • Apr 16, 2012 6:36pm Apr 16, 2012 6:36pm
EA 4hr analysis ..looking for PA at this area

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  • #1,171
  • Apr 17, 2012 5:29am Apr 17, 2012 5:29am
Quoting dan89
Thread has gone a bit quiet ...

Will start posting charts again from tomorrow onwards
Hi Dan,

Hope your trading has been well.

Ya' I have been a bit quiet on the posts lately, havent had a whole lot of trades going with daily or the 4 hourly.

I do have a short open on EURAUD daily TF at the moment I will put up some images shortly.

I have also been looking at EU 5 min charts over the last week or so trying out something a bit more aggressive than what I normally do so have been putting a bit of focus on this. Same basic principles that I always trade just more aggressive entries. So far so good. First few weeks this will be traded purely on demo to see if I believe it suits me, but am liking it so far.

I havent been taking any screenshots as such of these trades yet as to me it is simply testing at the moment. In just under 2 weeks have managed a 7% increase trading conservative risk management and position sizes, but as we all know in the short term that means absolutely nothing if you cant sustain it constantly and consitantly. Time will be the test.

Even though I am not taking many trades on the longer TF I will try and get up some thoughts and analysis of the charts that I do look at.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,172
  • Apr 17, 2012 5:44am Apr 17, 2012 5:44am
Quoting DarkWolF
Hi Dan,

Hope your trading has been well.

Ya' I have been a bit quiet on the posts lately, havent had a whole lot of trades going with daily or the 4 hourly.

I do have a short open on EURAUD daily TF at the moment I will put up some images shortly.

I have also been looking at EU 5 min charts over the last week or so trying out something a bit more aggressive than what I normally do so have been putting a bit of focus on this. Same basic principles that I always trade just more aggressive entries. So far so good. First few weeks this will...
Good to hear from you DW

7% in 2 weeks is fantastic Hopefully ill be at that level one day. Do let us know your method when you have finished testing/demo.

Im also looking at EA ... took a trade yesterday which got stopped out. Looking for another short today. Price is rejecting nicely off that area I marked yesterday. Would like to see the current bar close strong before entering .

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  • #1,173
  • Apr 17, 2012 5:51am Apr 17, 2012 5:51am
Here is the EA daily trade that I took, I think you will have not problems seeing why I looked at taking this position.

I took half the position off at the levels shows and entered break even, rest of position is still open.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,174
  • Apr 17, 2012 5:56am Apr 17, 2012 5:56am
Quoting DarkWolF
Here is the EA daily trade that I took, I think you will have not problems seeing why I looked at taking this position.

I took half the position off at the levels shows and entered break even, rest of position is still open.
Nice one
  • #1,175
  • Apr 17, 2012 5:57am Apr 17, 2012 5:57am
Quoting dan89
Good to hear from you DW

7% in 2 weeks is fantastic Hopefully ill be at that level one day. Do let us know your method when you have finished testing/demo.

Im also looking at EA ... took a trade yesterday which got stopped out. Looking for another short today. Price is rejecting nicely off that area I marked yesterday. Would like to see the current bar close strong before entering .

Attachment
Yes but that result is no good unless it can be sustained, so will see how it goes for a little while before I show any images etc, as its quite aggressive discipline is required to one, keep stops in place and two, not overtrading.

EA 4 hourly is looking like it may have some potential no doubt about that.

EURCAD and EURNZD could also have some potential but still a couple of hours before the bar closes on the 4 hourly
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,176
  • Apr 17, 2012 6:12am Apr 17, 2012 6:12am
Quoting DarkWolF
Yes but that result is no good unless it can be sustained, so will see how it goes for a little while before I show any images etc, as its quite aggressive discipline is required to one, keep stops in place and two, not overtrading.

EA 4 hourly is looking like it may have some potential no doubt about that.

EURCAD and EURNZD could also have some potential but still a couple of hours before the bar closes on the 4 hourly
Yeah thats cool no problem

Keeping my eye on EA. Few hours left before the new bar though
  • #1,177
  • Apr 17, 2012 6:20am Apr 17, 2012 6:20am
Obviously the daily time frames take a lot more patience to wait for price to go where you are looking for it to go, as this may take a number of weeks for this to actually take place.

Look at the obvious levels, they should jump out to you on the chart.

Be picky, be patient wait for the market to come to you, if doesnt move on to the next opportunity.

EURUSD daily chart.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,178
  • Apr 17, 2012 7:08am Apr 17, 2012 7:08am
.95% added today to the 5 min demo.

NY open may see some extra movement but we also have some news due out in half hourish so that is it for me on the 5 min for now, will review in about an hourish to see whats happening at the same time to look at the next 4 hourly bar.

Those 3 EU pairs on 4 hourly still looking good but lets see what happens with the news first.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,179
  • Apr 17, 2012 8:42am Apr 17, 2012 8:42am
Quoting DarkWolF
.

EURCAD and EURNZD could also have some potential but still a couple of hours before the bar closes on the 4 hourly
Well with the help of some news the Canadian pairs had some sudden movement.

Got back to the charts a little late for the start of the new bar.

Took the short on EURAUD 4 hourly @ 1.26494 stop @ 1.27295

Didnt have any orders in on that EURCAD image below.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,180
  • Apr 17, 2012 10:21am Apr 17, 2012 10:21am
Quoting DarkWolF
Obviously the daily time frames take a lot more patience to wait for price to go where you are looking for it to go, as this may take a number of weeks for this to actually take place.

Look at the obvious levels, they should jump out to you on the chart.

Be picky, be patient wait for the market to come to you, if doesnt move on to the next opportunity.

EURUSD daily chart.
Very nice post .. just saved it in my notes. Nice one
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