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Price Action and Trading Discussion

  • #1,181
  • Apr 17, 2012 10:22am Apr 17, 2012 10:22am
Quoting DarkWolF
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.
Had my eye on EA all day but ended up not taking it. That s/r level at 1.2620 put me off a little in regards to R;R. Might of been a mistake as price is moving very nicely to the downside. Will look for the next decent area to enter short.
  • #1,182
  • Apr 17, 2012 6:01pm Apr 17, 2012 6:01pm
Quoting dan89
Had my eye on EA all day but ended up not taking it. That s/r level at 1.2620 put me off a little in regards to R;R. Might of been a mistake as price is moving very nicely to the downside. Will look for the next decent area to enter short.
Hi Dan,

Just woke up to check the charts. Looks like EA did make a move down straight to the 1.26000 level and stalled.

Originally I did have my TP level just above that RN area but pushed it down slightly to just above the lows at 1.25790.

Have closed a portion of the trade and entered BE on the rest so either way now is all good to me.

Moved the TP area of the remaining portion of the trade to just above the 1.2500 area at 1.25184 which is just slightly higher than the extension of the previous push down.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,183
  • Apr 17, 2012 6:12pm Apr 17, 2012 6:12pm
Quoting DarkWolF
Hi Dan,

Just woke up to check the charts. Looks like EA did make a move down straight to the 1.26000 level and stalled.

Originally I did have my TP level just above that RN area but pushed it down slightly to just above the lows at 1.25790.

Have closed a portion of the trade and entered BE on the rest so either way now is all good to me.

Moved the TP area of the remaining portion of the trade to just above the 1.2500 area at 1.25184 which is just slightly higher than the extension of the previous push down.
Nice trading !
  • #1,184
  • Apr 17, 2012 6:20pm Apr 17, 2012 6:20pm
Just flicked through the daily charts, still not much going on, most are simply in consolodation areas at the moment.

Keeping an eye on AUDNZD to see if it can make it back up to the resistance area.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,185
  • Apr 18, 2012 7:08am Apr 18, 2012 7:08am
Hi guys,

Just checking out the charts for the first time since this morning, looks like the EA position has simply gone sideways on 4 hourly.

Still a little while to go before the next 4 hourly bar starts but not much really grabbing my attention across the charts.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,186
  • Apr 18, 2012 8:03am Apr 18, 2012 8:03am
EU 5 min trade.

Didnt get to trade any of the London session so have only had pretty much from slightly before the NY session to trade from.

3 positions taken today 2 winning and one loss, with .92% added and now 9.08% added in total.

But like I stated yesterday, early stages and only testing this out at the moment, needs to remain consitent and constant.

Took an image of the last one.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 72 KB
Click to Enlarge Name: eu2.jpg Size: 65 KB
Click to Enlarge Name: eu3.jpg Size: 63 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,187
  • Apr 18, 2012 4:34pm Apr 18, 2012 4:34pm
BE hit on the remaining compononent of my 4 hourly position with EA.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,188
  • Apr 19, 2012 6:30am Apr 19, 2012 6:30am
Quoting DarkWolF
EU 5 min trade.

Didnt get to trade any of the London session so have only had pretty much from slightly before the NY session to trade from.

3 positions taken today 2 winning and one loss, with .92% added and now 9.08% added in total.

But like I stated yesterday, early stages and only testing this out at the moment, needs to remain consitent and constant.

Took an image of the last one.
Nice trade

Markets have been moving quite slow this week. Have not taken any trades as of yet. EA is pushing up against that upper trendline. Although my bias is still bearish on that pair even though we had a higher low .. not sure if its significant enough ...
  • #1,189
  • Apr 19, 2012 6:56am Apr 19, 2012 6:56am
Indeed they have been a bit slow on the longer time frames. Most pairs congested or in range. Still some opportunities there within ranges but I too have not taken any except for the EA. Still have EA daily position open.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,190
  • Apr 19, 2012 7:51am Apr 19, 2012 7:51am
1.87 % added today to my trial on 5 min.

10.68% in total so far. 2 weeks in.

Probably wont get to trade tomorrow so will stay at that for this week.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,191
  • Apr 19, 2012 9:51am Apr 19, 2012 9:51am
Quoting DarkWolF
1.87 % added today to my trial on 5 min.

10.68% in total so far. 2 weeks in.

Probably wont get to trade tomorrow so will stay at that for this week.
10% in 2 weeks ...

EA finally broke tot he upside.
  • #1,192
  • Apr 19, 2012 9:59am Apr 19, 2012 9:59am
a contribution.Breakout-retest-rejection.
Attached Image (click to enlarge)
Click to Enlarge Name: pa.gif Size: 28 KB
  • #1,193
  • Apr 19, 2012 12:26pm Apr 19, 2012 12:26pm
Hi there DW!

First I would like to thank you for your thread. Althougt I haven't written anything before in your thread, I love to read it.

Anyway, this time I have to write something :-). It's a question regarding this specific trade. I do not truely get the reason behind the entry. I understand you were looking to short at resistance. However, what I do not understand is, it looks like you entered in the begining of the bearish engulfing candle, which means you did not get BE candle before your entry. The only PA you got before entry is the two wicks..? Or is it something I'm missing? You obviously you entered at the perfect moment, which makes me very interested if there's some PA in this trade that I am missing...

Once again, you are truely a nice trader to follow, and I apreceite every post you make.

I would really appreceite your reply. Thanks in advance!
Bst Rgrds /Jens

Quoting DarkWolF
EU 5 min trade.

Didnt get to trade any of the London session so have only had pretty much from slightly before the NY session to trade from.

3 positions taken today 2 winning and one loss, with .92% added and now 9.08% added in total.

But like I stated yesterday, early stages and only testing this out at the moment, needs to remain consitent and constant.

Took an image of the last one.
  • #1,194
  • Apr 20, 2012 10:05am Apr 20, 2012 10:05am
Quoting mrsword
Hi there DW!

First I would like to thank you for your thread. Althougt I haven't written anything before in your thread, I love to read it.

Anyway, this time I have to write something :-). It's a question regarding this specific trade. I do not truely get the reason behind the entry. I understand you were looking to short at resistance. However, what I do not understand is, it looks like you entered in the begining of the bearish engulfing candle, which means you did not get BE candle before your entry. The only PA you got before entry is...
Hi Jens,

I am glad to hear that at the very least you are getting something out of the thread as that is all that I can hope for.

If you have been following my thread you will understand the levels that I keep an eye on and why.

Now let me say that this is something that at the moment I am simply testing. As with anything new that you add to your trading toolbox I would highly recommend testing it for a period of time before trading it live.

It most definitely is not something that you are missing, it is not so much based around price action but where price is. This is a much more aggressive method of trading that I am testing based on observations I have made during my own trading over the last couple of years.

If this is something that I feel that I can trade with consistency then I will share some more details, I hope you can understand that until then there is not much point in me doing so until it is proven over a period of time, so far so good, but as most traders will know, that can change in an instant.

I will keep updates on how it is tracking.


Cheers.

DW
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,195
  • Apr 21, 2012 10:59pm Apr 21, 2012 10:59pm
EURUSD Daily chart.

Still clearly stuck in the range.

It is sidways markets like this that causes concerns for many traders, constantly changing their minds on what direction they believe the market will go. Will it break, will it hold, is this the bottom that will make it rebound and so on.

Many of the pairs at the moment on daily area simly ranging or congested. This is when patience is most definately required.

Even a quick glance at this chart at the RN and horizontal areas stand out. Also notice how the smaller congested areas inside the overall range can also be "areas" to keep an eye on.

Keep it simple.
Attached Image (click to enlarge)
Click to Enlarge Name: EU daily.jpg Size: 111 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,196
  • Apr 21, 2012 11:14pm Apr 21, 2012 11:14pm
EU, different time frames using the key "areas"

Have patience, wait, let price react at the area you think that it will.

These areas should simply stand out to you, dont overthink them, dont try to force an area. Simply use the most obvious.

Keep it simple.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 77 KB
Click to Enlarge Name: eu2.jpg Size: 111 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,197
  • Apr 21, 2012 11:16pm Apr 21, 2012 11:16pm
Quoting fantom
a contribution.Breakout-retest-rejection.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,198
  • Apr 22, 2012 9:05am Apr 22, 2012 9:05am
Quoting DarkWolF
EU 5 min trade.

Didnt get to trade any of the London session so have only had pretty much from slightly before the NY session to trade from.

3 positions taken today 2 winning and one loss, with .92% added and now 9.08% added in total.

But like I stated yesterday, early stages and only testing this out at the moment, needs to remain consitent and constant.

Took an image of the last one.

hello darkwolf
I like with the way you trade

regards
suma
  • #1,199
  • Apr 22, 2012 9:30am Apr 22, 2012 9:30am
Quoting sumakianlee
hello darkwolf
I like with the way you trade

regards
suma
Hi Sumakianlee,

Thanks

Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,200
  • Apr 23, 2012 4:46am Apr 23, 2012 4:46am
Hi Guys,

Will be keeing an eye on some of the Yen crosses on daily charts to see how they finish up.

AJ, EJ and GJ could have some potential.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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