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Price Action and Trading Discussion

  • #1,441
  • May 31, 2012 4:23am May 31, 2012 4:23am
You're right. 1.285 is important and if it breaks and closes below, there is a chance for further weakness.
  • #1,442
  • May 31, 2012 4:57am May 31, 2012 4:57am
Quoting fuzzy
Hi All,

closed this trade with 1:3.5R. 187pips profit.
Quoting fuzzy
Hi All,

trade update. Entry at 50% retracement triggered.

I am not so sure of the momentum of this pair and have put a TP at 1:2RR to close automatically.
Good work on the EURUSD position a good profit banked for you.

AUDNZD with the retracement level looks like would have gotten you right on the RN area before it reversed back down. A great entry. The support level at 1.2580 ish is the only thing standing in your way now on this move. Price caught between that level and the 1.2900 RN level.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,443
  • May 31, 2012 5:16am May 31, 2012 5:16am
Quoting Quezoy
A/Y

Break, retracement.
Lets see.
This pair looks tempting as it is testing recent Resistance @ ~ 78.90.

However, I see 78.00 as a stronger Resistance area and is also nearer to my EMA's which I use for dynamic Resistance.

Will pass on this trade.
  • #1,444
  • May 31, 2012 5:29am May 31, 2012 5:29am
Quoting Quezoy
I've entered prematurely yesterday, but in the end it was not a bad entry.
Price could not close above the TL, but it did spike up during the Asian session and hit my SL for the added position. Small SL, 22 pips.
It then continued down to where my 1st TP was.
Initiall position still open.
Its still hanging in there for you Quezoy. Good to get your first TP level though.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,445
  • May 31, 2012 5:33am May 31, 2012 5:33am
Quoting fuzzy
This pair looks tempting as it is testing recent Resistance @ ~ 78.90.

However, I see 78.00 as a stronger Resistance area and is also nearer to my EMA's which I use for dynamic Resistance.

Will pass on this trade.
Depending on how this current bar closed I could give this one some thought although there is a a deeper pullback to the 77.532 level aligning with the trend line that would give more of a confluenced area. Already have current open position on this pair though of which I have BE on.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,446
  • May 31, 2012 5:34am May 31, 2012 5:34am
Quoting fuzzy
This pair looks tempting as it is testing recent Resistance @ ~ 78.90.

However, I see 78.00 as a stronger Resistance area and is also nearer to my EMA's which I use for dynamic Resistance.

Will pass on this trade.
I'll give you my view.

An additional indicator is on H1, where the upmove was on falling volume (but thats just something Im experimenting with)
Attached Image(s) (click to enlarge)
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Thoughts are things
  • #1,447
  • May 31, 2012 5:38am May 31, 2012 5:38am
All of the extra positions that I had opened on EJ, AJ and EU have now got either BE entered or pips locked in.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,448
  • May 31, 2012 5:44am May 31, 2012 5:44am
Quoting Quezoy
I'll give you my view.

An additional indicator is on H1, where the upmove was on falling volume (but thats just something Im experimenting with)
It is a solid resistance area Quezoy and as I have a short currently open on this pair from the Daily I am also looking for that resistance to hold. I have BE entered but not pips locked in as yet.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 77 KB
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  • #1,449
  • May 31, 2012 6:39pm May 31, 2012 6:39pm
Hi Guys,

I did not take this trade but had it planned for an entry where the red line is situated on the chart. Hindsight is always a great thing. But I do like to look back on the planned trades that I dont take and see what happens wether it be good or bad.

Break through a RN area that was acting as support, pullback to it, market consolidates briefly and then moves straight down to the next RN area of which there was no surprise that it stalled there.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY daily 01-06-12.jpg Size: 99 KB
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  • #1,450
  • May 31, 2012 10:28pm May 31, 2012 10:28pm
You guys think eur/jpy will hit 95?
  • #1,451
  • May 31, 2012 11:02pm May 31, 2012 11:02pm
Quoting jibjib210
You guys think eur/jpy will hit 95?
I certainly hope so, will be good for me if it does

If this 96 area gives way and 95 doesnt hold the next support is some major long term lows from early 2000
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,452
  • May 31, 2012 11:04pm May 31, 2012 11:04pm
NFP later today so see how that goes with some of the open positions I currently have. Am not going to tighten any stops on my positions as yet due to this.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,453
  • Jun 1, 2012 3:16am Jun 1, 2012 3:16am
Quoting fuzzy
Hi All,

trade update. Entry at 50% retracement triggered.

I am not so sure of the momentum of this pair and have put a TP at 1:2RR to close automatically.
Stopped out at BE. oh well, looking for next opportunity.
  • #1,454
  • Jun 1, 2012 3:22am Jun 1, 2012 3:22am
Quoting fuzzy
Stopped out at BE. oh well, looking for next opportunity.
Hi Fuzzy,

I am always happy with a BE trade. BE is much better than a trade swinging against you and a winning trade becomes a losing trade.

What pair was that one on again ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,455
  • Jun 1, 2012 3:25am Jun 1, 2012 3:25am
Buy range 1545-1547 Take Profit 1560 Stoploss 1542

Sell range 1565-1567 Take Profit 1555 Stoploss 1570

  • #1,456
  • Jun 1, 2012 3:47am Jun 1, 2012 3:47am
Some updates:

Quoting Quezoy
E/A entered on retracement.
Took 1/2 at 22 pips plus and set now SL to BE.
1/2 half closed at +21, my final TP just didnt get reached so I've closed the 2nd half for +66 as price was moving up with momentum.

Quoting Quezoy
A/Y

Break, retracement.
Lets see.
1/2 half closed for +42, 2nd for +39. Price came up strongly (london closed profit taking)and I've panicked a bit, closed prematurely, but its OK.

Quoting Quezoy
CAD/JPY update

Nice move down, SL at BE...
This one is going GOOD.
Added to my position allready 2 times and this last postion is allready at BE and 1/2 banked.
Thoughts are things
  • #1,457
  • Jun 1, 2012 3:52am Jun 1, 2012 3:52am
Quoting Quezoy
Some updates:


1/2 half closed at +21, my final TP just didnt get reached so I've closed the 2nd half for +66 as price was moving up with momentum.


1/2 half closed for +42, 2nd for +39. Price came up strongly (london closed profit taking)and I've panicked a bit, closed prematurely, but its OK.


This one is going GOOD.
Added to my position allready 2 times and this last postion is allready at BE and 1/2 banked.
Very nice Quezoy. Good results and some great trade management.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,458
  • Jun 1, 2012 4:06am Jun 1, 2012 4:06am
Question is now, can C/J brake 75.00
Have to monitor it closely.
Thoughts are things
  • #1,459
  • Jun 1, 2012 4:12am Jun 1, 2012 4:12am
Quoting Quezoy
Question is now, can C/J brake 75.00
Have to monitor it closely.
Indeed.

I was watching this pair for the break lower of the market pause but did not put any entries on. Would have turned out nicely and a very nice trade for you.

Lets see if we can get a break through and then consoidate under it rather than pause above and then consolidate above it.
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  • #1,460
  • Jun 1, 2012 4:44am Jun 1, 2012 4:44am
Quoting DarkWolF
Indeed.

I was watching this pair for the break lower of the market pause but did not put any entries on. Would have turned out nicely and a very nice trade for you.

Lets see if we can get a break through and then consoidate under it rather than pause above and then consolidate above it.
Would be good.
I've set my SL down to 75.40 cause I dont want to take any chances.
Thoughts are things
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