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Price Action and Trading Discussion

  • #1,201
  • Apr 23, 2012 6:27pm Apr 23, 2012 6:27pm
Quoting DarkWolF
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.
Hi DW, Whats your bias on the 3 yen pairs. Short or Long ? H4 is showing some potential to the upside but daily's looking like its to the downside .
  • #1,202
  • Apr 24, 2012 4:22am Apr 24, 2012 4:22am
Quoting dan89
Hi DW, Whats your bias on the 3 yen pairs. Short or Long ? H4 is showing some potential to the upside but daily's looking like its to the downside .
Hi Dan,

EJ and AJ was looking for short potential, GJ I eneded up disregarding.

The only one I ended up looking at was AJ purely because of the fact that it is moving away from the RN area instead of into it.

Got triggered into a position on AJ at 83.129 currently have that position going slightly against me.

The rest of my EA position has been stopped at BE.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,203
  • Edited 4:52am Apr 25, 2012 4:19am | Edited 4:52am
Hi Guys,

Well we continue to have a lot of chop in the markets on the longer TF's.

My AJ daily short has stayed against me.

I am now short GBPCAD from daily chart at 1.59647 was triggered in yesterday also moving away from the 1.6000 level. This position just had a push down thanks to some cable news. Have now entered BE on this so all is good with that one.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,204
  • Apr 25, 2012 4:22am Apr 25, 2012 4:22am
EU hourly chart, looking at a potential projected price level.

Still within the longer term range but has been slowly heading upwards within that range.
Attached Image (click to enlarge)
Click to Enlarge Name: eu hourly.jpg Size: 99 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,205
  • Apr 26, 2012 4:59pm Apr 26, 2012 4:59pm
Quoting DarkWolF
Hi Guys,

Well we continue to have a lot of chop in the markets on the longer TF's.

My AJ daily short has stayed against me.

I am now short GBPCAD from daily chart at 1.59647 was triggered in yesterday also moving away from the 1.6000 level. This position just had a push down thanks to some cable news. Have now entered BE on this so all is good with that one.
This sideways market is frustrating. Havnt taken a trade for while now.
  • #1,206
  • Apr 29, 2012 12:11am Apr 29, 2012 12:11am
Quoting dan89
This sideways market is frustrating. Havnt taken a trade for while now.
Yes indeed it can be.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,207
  • Apr 29, 2012 12:12am Apr 29, 2012 12:12am
EU Daily still nothing but range.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily.jpg Size: 77 KB
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  • #1,208
  • Apr 29, 2012 12:14am Apr 29, 2012 12:14am
Cable daily could see some potential for further bullish movement on a pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: cable daily.jpg Size: 82 KB
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  • #1,209
  • Apr 29, 2012 12:15am Apr 29, 2012 12:15am
Channel has broken, we still have clear resistance areas above though.
Attached Image (click to enlarge)
Click to Enlarge Name: aud daily.jpg Size: 85 KB
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  • #1,210
  • Apr 29, 2012 12:17am Apr 29, 2012 12:17am
Swinging down nicely, but we may be seeing some AUD strength.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD Daily.jpg Size: 76 KB
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  • #1,211
  • Apr 29, 2012 12:19am Apr 29, 2012 12:19am
Potential for resistance area to hold.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Daily.jpg Size: 75 KB
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  • #1,212
  • Apr 29, 2012 12:22am Apr 29, 2012 12:22am
This pair has been in a sideways channel for quite some time.

We know that the longer the period of consolodation the harder the break can potentially be. We can see a small break and hold so far.

Have been keeping an eye on this one for some time to see which way it was going to go. There is some support close by but could be some potential for a larger swing down.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.jpg Size: 95 KB
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  • #1,213
  • Apr 30, 2012 5:21am Apr 30, 2012 5:21am
GBPUSD 4 hourly short. Is against the trend but lets see how it goes.

Stop just above the 1.63000 area.

First target area just above the 1.62000 level where previous resistance was also evident.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 4 hourly.jpg Size: 79 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,214
  • Apr 30, 2012 7:29am Apr 30, 2012 7:29am
Quoting DarkWolF
GBPUSD 4 hourly short. Is against the trend but lets see how it goes.

Stop just above the 1.63000 area.

First target area just above the 1.62000 level where previous resistance was also evident.
BE entered so either way now is all good.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,215
  • Apr 30, 2012 7:31am Apr 30, 2012 7:31am
Quoting DarkWolF
Hi Guys,

Well we continue to have a lot of chop in the markets on the longer TF's.

My AJ daily short has stayed against me.

I am now short GBPCAD from daily chart at 1.59647 was triggered in yesterday also moving away from the 1.6000 level. This position just had a push down thanks to some cable news. Have now entered BE on this so all is good with that one.

Forgot to update on these ones.

GBPCAD was stopped out at BE and I didnt take any parts of the position off before hand..

AJ still short but still slightly against me.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,216
  • Apr 30, 2012 8:00am Apr 30, 2012 8:00am
Quoting DarkWolF
GBPUSD 4 hourly short. Is against the trend but lets see how it goes.

Stop just above the 1.63000 area.

First target area just above the 1.62000 level where previous resistance was also evident.
What made you take that trade short? From my chart GBPUSD on the 4 hour candle broke the resistance and TL and closed above on the 10:00 pm est time.

Just curious, playing the same system as you and am a new to this.

Thanks
  • #1,217
  • Apr 30, 2012 8:18am Apr 30, 2012 8:18am
Quoting jibjib210
What made you take that trade short? From my chart GBPUSD on the 4 hour candle broke the resistance and TL and closed above on the 10:00 pm est time.

Just curious, playing the same system as you and am a new to this.

Thanks
Hi Jibjib,

Pretty simple really, rejection bar at the RN area.

The daily also has some previous support/resistance around this "area" which added some weight to my decision to take this one.

Let me know if this makes my decision any clearer.

As it is against the current move though, I have BE reasonably quickly and will take some of the position off at the first target area if it can make it there.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2.jpg Size: 125 KB
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  • #1,218
  • Apr 30, 2012 8:25am Apr 30, 2012 8:25am
It very well may yet simply shoot back up and knock the position out at BE.

When trading against the current move it can pay to be slightly cautious.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,219
  • Apr 30, 2012 8:38am Apr 30, 2012 8:38am
Quoting DarkWolF
It very well may yet simply shoot back up and knock the position out at BE.

When trading against the current move it can pay to be slightly cautious.
Thanks i understand. I did not get to see the rejection/pin bar as i was already asleep.

I am short USD/CAD due the BEB on daily and long GBP/USD. Though shoulda expected some sort of resistance on GBPUSD that weekly and monthly TL is holding up pretty well.

Im off to school cheers and thanks for the help. This is the thread ive been looking for will be back
  • #1,220
  • Apr 30, 2012 8:51am Apr 30, 2012 8:51am
Quoting jibjib210
Thanks i understand. I did not get to see the rejection/pin bar as i was already asleep.

I am short USD/CAD due the BEB on daily and long GBP/USD. Though shoulda expected some sort of resistance on GBPUSD that weekly and monthly TL is holding up pretty well.

Im off to school cheers and thanks for the help. This is the thread ive been looking for will be back
No probs.

I was contemplating the USDCAD daily also to short, but have since changed my mind on that one for now. I did have a pending order short below the last daily bar but that has now been deleted.

Yes GBPUSD is looking good to the bullish side, and if we can get some sort of pullback on the daily and a good reason to get long is what I will be waiting for now.

Glad to help anytime.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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