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Price Action and Trading Discussion

  • #1,581
  • Jun 15, 2012 2:20am Jun 15, 2012 2:20am
Quoting DarkWolF
Hi Spongebob,


I took the exact same trade on GJ here is the entry but havent done an updated image as yet.
Closed this one and banked the pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 4 hourly 15-06.jpg Size: 94 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,582
  • Jun 15, 2012 2:27am Jun 15, 2012 2:27am
Took the loss on this one and closed it out early before the original stop loss position.

In hindsight now looking back at this particular trade it is a position that I should not have got into.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu daily 12-06.jpg Size: 86 KB
Click to Enlarge Name: EU Daily 14-06.jpg Size: 96 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,583
  • Jun 15, 2012 2:37am Jun 15, 2012 2:37am
I decided to close out all the open positions I had on this pair. The red line is where I had my trailing stop placed but wanted to take the profit I had. I had already given back plenty on the swing back up.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 4hourly closed.jpg Size: 96 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,584
  • Jun 15, 2012 2:49am Jun 15, 2012 2:49am
USDJPY has made a nice breakout from the consolidated area on the 4 hourly chart
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,585
  • Jun 15, 2012 2:58am Jun 15, 2012 2:58am
Quoting machal
Hello, what u think about long here ? I see strong support there.
Hi Machal,

This is how I see this and what I have drawn on my charts that I have been watching.

I do also still have a current short position on this pair on the daily charts. I am thinink about getting my BE in place on this daily trade rather soon.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 91 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,586
  • Jun 15, 2012 3:11am Jun 15, 2012 3:11am
Entered BE. Have been in this position for some time now and really hasnt done a whole lot. If it can break support completely and that holds as resistance then all good and if I get a BE so be it.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD Daily BE 15-06.jpg Size: 89 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,587
  • Jun 15, 2012 3:15am Jun 15, 2012 3:15am
Hey DarkWolf

Nice trading!

Iv noticed Nial Fuller, Johnothan Fox and yourself are all from Aussie land and all trade PRICE ACTION. Good to know!

PS, Im from South Africa and not cool about the rugby at RWC.
  • #1,588
  • Jun 15, 2012 3:33am Jun 15, 2012 3:33am
Quoting Spongebob123
Hey DarkWolf

Nice trading!

Iv noticed Nial Fuller, Johnothan Fox and yourself are all from Aussie land and all trade PRICE ACTION. Good to know!

PS, Im from South Africa and not cool about the rugby at RWC.
Thanks Spongebob,

I have heard of Nial Fuller before but I dont know too much about Johnothan Fox I havent heard of him.

I watched last years WC with a Kiwi fella' he was rather happy with the game.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,589
  • Jun 18, 2012 1:44am Jun 18, 2012 1:44am
Hi Guys,

Well I hope you all had a great weekend.

As you can see on the charts we once again had some gaps appearing on open this week, and once again we can see those gaps have been mostly closed by price.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,590
  • Jun 18, 2012 1:49am Jun 18, 2012 1:49am
Here is another losing trade that I took, this time on USDJPY 4 hourly. I took an entry below the bar that broke out of the range and through the 79.00 RN area.

Upon open this week this went straight up and through my initial stop.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY 4 hourly 15-06.jpg Size: 81 KB
Click to Enlarge Name: USDJPY 4 hourly stopped 18-06.jpg Size: 87 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,591
  • Jun 18, 2012 4:12am Jun 18, 2012 4:12am
I havent taken many of these of late but as I am sitting at my PC doing some work tonight I have had the chart up and watching it. This one turned out ok.

First entry away from RN. BE entered after reaching the trend line, second entry below the bar that broke trend line with the target area being the previous lows for both positions.

Target area achieved and both trades taken off at that level.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 79 KB
Click to Enlarge Name: EU 5 min 1.jpg Size: 71 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,592
  • Jun 18, 2012 5:51am Jun 18, 2012 5:51am
Took another short on EU 5 min with price breaking the lows and one of my longer term horizontal support areas. Target was the 1.2600 RN area.

Target achieved soon after. Smaller time frames mean smaller profit targets but the principles of the trade are still the same.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU 2.jpg Size: 78 KB
Click to Enlarge Name: eu 3.jpg Size: 73 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,593
  • Jun 18, 2012 6:01am Jun 18, 2012 6:01am
Potential price projection of current swing down.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 82 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,594
  • Jun 18, 2012 6:19am Jun 18, 2012 6:19am
Was busy those last 2 weeks and did not really have the energy to trade.
But I've opened my chart today, to see if there are any setups.

The xxx/yen pairs are looking like if they are ripe for a continuation down, after retracement.
My favourite is A/J since here we have a 38.2 and 50 fib retracement, solid resistance and pinbar in the making. But also EUR/JPY for a continuation down from parity after consolidation. Plus trendline.

I like also EUR/CAD, where we have a nice bearish bar from channel resistance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj.jpg Size: 276 KB
Click to Enlarge Name: ey.jpg Size: 222 KB
Click to Enlarge Name: ec.jpg Size: 219 KB
Thoughts are things
  • #1,595
  • Jun 18, 2012 6:26am Jun 18, 2012 6:26am
Quoting Quezoy
Was busy those last 2 weeks and did not really have the energy to trade.
But I've opened my chart today, to see if there are any setups.

The xxx/yen pairs are looking like if they are ripe for a continuation down, after retracement.
My favourite is A/J since here we have a 38.2 and 50 fib retracement, solid resistance and pinbar in the making. But also EUR/JPY for a continuation down from parity after consolidation. Plus trendline.

I like also EUR/CAD, where we have a nice bearish bar from channel resistance.
Hi Quezoy,

I am keeping an eye on all of those same charts.

I currently have a short open on EURCAD 4 hourly. So far so good
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD 4 hourly 18-06.jpg Size: 92 KB
Click to Enlarge Name: EURCAD 4 hourly-1 18-06.jpg Size: 87 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,596
  • Jun 18, 2012 6:30am Jun 18, 2012 6:30am
Ill wait till evening, when the daily candle closes (and the matches are over ) and decide thrn where to enter.
Thoughts are things
  • #1,597
  • Jun 18, 2012 6:36am Jun 18, 2012 6:36am
Quoting DarkWolF
Potential price projection of current swing down.
Came quite close to the projected level, still a good chance that it is going to continue straight through it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 82 KB
Click to Enlarge Name: 2.jpg Size: 86 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,598
  • Jun 18, 2012 6:38am Jun 18, 2012 6:38am
Quoting Quezoy
Ill wait till evening, when the daily candle closes (and the matches are over ) and decide thrn where to enter.
Good idea Quezoy. The close is morning for me right before I take off to work so it good timing for me to check the charts before heading off for the day and enter any orders or move stops etc.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,599
  • Jun 18, 2012 6:59am Jun 18, 2012 6:59am
BE in place for this position, slowly moving lower.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd daily 18-06.jpg Size: 89 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,600
  • Jun 18, 2012 1:55pm Jun 18, 2012 1:55pm
Quoting DarkWolF
Hi Quezoy,

I am keeping an eye on all of those same charts.

I currently have a short open on EURCAD 4 hourly. So far so good
Set my TP on this trade just above the 1.2900 level and the target was easily achieved.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD 4 hourly TP 18-06.jpg Size: 95 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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