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Price Action and Trading Discussion

  • #1,281
  • May 11, 2012 1:04pm May 11, 2012 1:04pm
Quoting DarkWolF
The stop that I moved down yesterday to lock in some pips on this position has now been hit.
Hi DW, Hows it going ? Nice clean charts as usual

Been really busy the last few weeks. Have not had much time to look at the charts, just starting to get back into it.

Hows the new 5min strat coming along ?

Dan
  • #1,282
  • May 11, 2012 9:02pm May 11, 2012 9:02pm
Quoting dan89
Hi DW, Hows it going ? Nice clean charts as usual

Been really busy the last few weeks. Have not had much time to look at the charts, just starting to get back into it.

Hows the new 5min strat coming along ?

Dan
Hi Dan,


Hope you have been well.

You haven't missed much over the last couple of weeks, on longer terms, most pairs have been simply moving sideways or caught in consolodation. We are now starting to see some movement and is a good time to keep an eye on the key areas.

5 min strat going really quite well, however the last week I did not trade from it as finding myself back spending too much time on the charts which is one thing I am trying to change by trading daily and 4 hourly.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,283
  • May 13, 2012 8:29am May 13, 2012 8:29am
Quoting DarkWolF
Swinging down nicely, but we may be seeing some AUD strength.
Was looking for an entry on this pair, didnt end up taking one though. As you can see price easily made it to the next major support area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDCAD daily.jpg Size: 68 KB
Click to Enlarge Name: AUDCAD 11-05.jpg Size: 114 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,284
  • May 13, 2012 8:38am May 13, 2012 8:38am
Still keeping an eye on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD Daily 11-05.jpg Size: 94 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,285
  • May 13, 2012 8:43am May 13, 2012 8:43am
With the current weakness showing on AUD keeping an eye on this also.

edit: Didnt see the error with the writing on the chart until after posting, just disregard the "pre"
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 11-05.jpg Size: 89 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,286
  • May 13, 2012 11:11am May 13, 2012 11:11am
Quoting DarkWolF
Price Action and Trading Discussion.

Price action, horizontal support and resistance, trend lines, round number areas and throw in some candle patterns also.

I welcome any general discussion in regards to trading and any thoughts around price action trading no matter what pair or combination of pairs that you may trade.

Charts with reasoning as to why you took the trade or are thinking of taking a trade would be appreciated.
Hi OP,

I like Point and Figure charts a lot. I like them because it removes the time element of price, which I consider to be more momentum, and leaves out the actual pattern of price. It is the easiest way to view price HigherHighs/HigherLows or LowerLows/LowerHighs.

I also like that point and figure allows the trader to define pivots - and it does this by providing the flexibility of allowing the trader to choose the box size.

To my trading strategy, Point and Figure is instrumental, as it helps me define trend based on price. It isn't the only tool I use, but it is one of the nicest ones I have studied.
  • #1,287
  • May 13, 2012 4:32pm May 13, 2012 4:32pm
Quoting Dick Clark
Hi OP,

I like Point and Figure charts a lot. I like them because it removes the time element of price, which I consider to be more momentum, and leaves out the actual pattern of price. It is the easiest way to view price HigherHighs/HigherLows or LowerLows/LowerHighs.

I also like that point and figure allows the trader to define pivots - and it does this by providing the flexibility of allowing the trader to choose the box size.

To my trading strategy, Point and Figure is instrumental, as it helps me define trend based on price. It isn't...
Hi Dick,

Point and Figure charts are not something that I use, but if they work for you then it is all good.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,288
  • May 13, 2012 10:23pm May 13, 2012 10:23pm
Made 400 pips last wk hopefully can keep that going

The euraud pair will take time to develop.

Closed my eurusd trade short idk y have a bad feeling :S

Shorted gbpchf from TL on wkly chart and RN.

Long eurgbp on TL on monthly chart + RN
Long aud/usd big RN looking for a pull back?

Any open trades?

Cheers
  • #1,289
  • May 14, 2012 4:31am May 14, 2012 4:31am
Quoting jibjib210
Made 400 pips last wk hopefully can keep that going

The euraud pair will take time to develop.

Closed my eurusd trade short idk y have a bad feeling :S

Shorted gbpchf from TL on wkly chart and RN.

Long eurgbp on TL on monthly chart + RN
Long aud/usd big RN looking for a pull back?

Any open trades?

Cheers
Hi Jib,

I hope your weekend was a great one.

Good work on the pip result for last week.

Im not sure as to what trend line your referring to on the GBPCHF weekly.

After such large moves down there is likely to be some sort of retrace, its just a matter of when.

AUDUSD has now broken short through the parity level, but can it hold I guess time will tell.

Was there a particular bar or pattern that made you buy at the RN on AUD or did you simply buy just because price was at the RN ? That can work quite well at times but I prefer to wait for a reason to look for the trade, some sort of rejection evident.

My current open positions are AUDUSD short, EURJPY short, NZDUSD short and EURUSD short. All of these positions have at the very least a BE in place but most have pips locked in, now its just a matter of managing the trades as price moves, as there will no doubt be a retrace on all these positions.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,290
  • May 14, 2012 8:05am May 14, 2012 8:05am
Looks like your doing well .

I was basically speculating on where the price will go with very tight losses as everything had reaching a point of resistance of some sort and was going to be a break out.

After getting taken out i have reversed my positions.
  • #1,291
  • May 14, 2012 8:07am May 14, 2012 8:07am
I think the gbpchf TL i drew was wrong :S

The AUD trade was only because of big RN
  • #1,292
  • May 14, 2012 8:21am May 14, 2012 8:21am
Quoting jibjib210
I think the gbpchf TL i drew was wrong :S

The AUD trade was only because of big RN
Ya there was a good chance that it may have bounced some what from the parity level, but instead we seen it move pretty much straight through it.

Now to see if that parity level will hold as the resistance area for further short moves.

EURCAD could have some potential for a short move on the 4 hourly chart. We have seen the lower end descending triangle broken and holding so far.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,293
  • May 14, 2012 8:28am May 14, 2012 8:28am
hey DW

how you finding married life?.............has it put an end to your 5min timeframe trading?
  • #1,294
  • May 14, 2012 8:32am May 14, 2012 8:32am
EurUsd daily down 3%, intraday today down 0.5%
BullShit BearShit
  • #1,295
  • May 14, 2012 8:35am May 14, 2012 8:35am
Quoting FOURX
hey DW

how you finding married life?.............has it put an end to your 5min timeframe trading?
Hi FOURX,

Going awesome so far mate.

I started to fade out the 5 min timeframe leading up to my wedding as I was quite busy and didnt have much spare time. But in doing so I did like not being at the charts so much therefore since then I have tried to keep my focus on daily and 4 hourly.

I do still keep an eye on them as well as my range bar charts now and then but mostly now the 4 hourly and daily.

Took a short on EU from my range bar set ups tonight with +28 pips locked away on that so far with position trailing.

How has your trading been going ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,296
  • May 14, 2012 8:41am May 14, 2012 8:41am
Quoting etrade360
EurUsd daily down 3%, intraday today down 0.5%
And lets see it keep on going

Well I am hoping anyway
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,297
  • May 14, 2012 8:59am May 14, 2012 8:59am
Quoting DarkWolF
Hi FOURX,


Took a short on EU from my range bar set ups tonight with +28 pips locked away on that so far with position trailing.
Trail hit so out for +28 pips with that one.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,298
  • May 14, 2012 9:04am May 14, 2012 9:04am
setup buy EurUsd @ -0.75%(1.2800) or -1%(1.2768). If i miss it today, wait for new setup tomorrow.
BullShit BearShit
  • #1,299
  • May 15, 2012 8:24am May 15, 2012 8:24am
Quoting DarkWolF
EURCAD could have some potential for a short move on the 4 hourly chart. We have seen the lower end descending triangle broken and holding so far.
Just getting my first look at the charts for the day today as have been a bit busy.

Pending order has been triggered and holding below the lows so far.

Will have BE entered soon on this one also.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD 4 hourly 14-05.jpg Size: 83 KB
Click to Enlarge Name: EURCAD 4 hourly 15-05.jpg Size: 91 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,300
  • May 15, 2012 10:33pm May 15, 2012 10:33pm
whaats happening to the USD? Why is it soo strong?!?!

nzd/usd short + 100 pips just sold shorted another position.

Gold is dropping like nooo tommorrow!! It broke a 4 year TL -.-..... Missed 2 positions of me shorting already now im getting itchy feelings in my hand on whether i should just sell now or wait for 1500.
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