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Price Action and Trading Discussion

  • #1,601
  • Jun 18, 2012 5:15pm Jun 18, 2012 5:15pm
Yes, this one went smoothly.

You take partial profits? Yes, no, why?
Thoughts are things
  • #1,602
  • Jun 19, 2012 2:35am Jun 19, 2012 2:35am
Waiting for a trendline break.
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Thoughts are things
  • #1,603
  • Jun 19, 2012 6:47am Jun 19, 2012 6:47am
Quoting Quezoy
Waiting for a trendline break.
TL is holding.

Watching NZD/JPY for an upmove and AUD/NZD for a continuation down as in both pairs price is pausing above/below previous S/R.
Thoughts are things
  • #1,604
  • Jun 19, 2012 12:14pm Jun 19, 2012 12:14pm
Entry USD/SGD.
Price broke and closed below support, which was a strong former resistance.
Trend is down and a lot of space to the south.
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Thoughts are things
  • #1,605
  • Jun 20, 2012 4:25am Jun 20, 2012 4:25am
Quoting Quezoy
Yes, this one went smoothly.

You take partial profits? Yes, no, why?
Hi Quezoy,

I "normally" dont take partial profits off, I tend to stick to a set profit target and take the whole position off at that level.

I have found that over my time trading that is what seems to work best for me as far as my profits go.

But over the last couple of months I have done some trades where I have taken partial profits off and I have also done some trades where I have trailed the position after having a BE in, again not how I would normally do it but have been giving the trail a crack.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,606
  • Jun 20, 2012 4:26am Jun 20, 2012 4:26am
Quoting Quezoy
Entry USD/SGD.
Price broke and closed below support, which was a strong former resistance.
Trend is down and a lot of space to the south.
This one is not normally a pair that I have open on my watchlist.

How did it turn out for you ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,607
  • Jun 20, 2012 4:29am Jun 20, 2012 4:29am
Quoting Quezoy
TL is holding.

Watching NZD/JPY for an upmove and AUD/NZD for a continuation down as in both pairs price is pausing above/below previous S/R.
Did any of these ones pan out for you ?

I still have AUDNZD short from a daily position which has not done a real lot in almost 2 weeks so will be thinking about closing this one out soon.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,608
  • Jun 20, 2012 6:35am Jun 20, 2012 6:35am
Quoting DarkWolF
This one is not normally a pair that I have open on my watchlist.

How did it turn out for you ?
It made a retracement after my entry, but a shallow one. I've set my SL now down, above this retracement.
At the momemnt it is pausing above my short entry - hopefully gaining momentum for a continuation down.
Thoughts are things
  • #1,609
  • Jun 20, 2012 6:38am Jun 20, 2012 6:38am
Quoting DarkWolF
Did any of these ones pan out for you ?

I still have AUDNZD short from a daily position which has not done a real lot in almost 2 weeks so will be thinking about closing this one out soon.
No entries. AUD/NZD went up, but is coming down again. Lets see how it closes today - maybe was just a test to the upside.

NZD/JPY also no entry. Its still in an upsloping wedge, so I've decided to wait what will happen.
Thoughts are things
  • #1,610
  • Jun 20, 2012 6:42am Jun 20, 2012 6:42am
AUD/USD back at resistance and 50 fib. Worth watching.

Pending short order on EUR/AUD. Price broke support, retraced up - I'm playing a continuation down.
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Thoughts are things
  • #1,611
  • Jun 20, 2012 7:14am Jun 20, 2012 7:14am
Quoting Quezoy
AUD/USD back at resistance and 50 fib. Worth watching.

.
I was going to post the exact same chart

Have been waiting to see if it reaches this level, now we just wait and see what happens from here.

A classic bulls vs bears area.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,612
  • Jun 20, 2012 9:23am Jun 20, 2012 9:23am
CHF/JPY, took the breakout long.
Taken 1/2 for +42, rest at BE.
On the weekly it looks like a trend change since 2 weeks ago, so I think its a good chance that it will continue - and I can add to my position.


USD/SGD still cruising above my entry, but for now there are at least no indication that it will go higher.
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Thoughts are things
  • #1,613
  • Jun 21, 2012 8:31am Jun 21, 2012 8:31am
Still holding in there with this one. BE in place so a no risk trade.

Doesnt want to break lower in a hurry though just sideways small break down and more sideways.

Lets see if it can give a solid break down today.
Attached Image (click to enlarge)
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,614
  • Jun 21, 2012 8:33am Jun 21, 2012 8:33am
Quoting Quezoy
CHF/JPY, took the breakout long.
Taken 1/2 for +42, rest at BE.
Good work
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,615
  • Jun 21, 2012 8:37am Jun 21, 2012 8:37am
There has been some sideways action again over the last few days or so on a lot of the pairs. There is likely to be another thrust from price soon I would think.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,616
  • Jun 21, 2012 12:41pm Jun 21, 2012 12:41pm
Quoting DarkWolF
Still holding in there with this one. BE in place so a no risk trade.

Doesnt want to break lower in a hurry though just sideways small break down and more sideways.

Lets see if it can give a solid break down today.
Looked like a nice break but ATM its pulling back again.
Thoughts are things
  • #1,617
  • Jun 21, 2012 12:47pm Jun 21, 2012 12:47pm
AUD/CAD, played the break down from a solid resistance and 50fib ret.
1/2 banked 40 pips, rest BE.
If we go through support I'll look for chances to add.

EUR/AUD, overall downtrend still intact, has a nice rising channel alligned with 1.25 RN. Good shorting opportunity IMO, but its kindda counter trend ATM since aussie is falling big time.

Opinion, DW?
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Thoughts are things
  • #1,618
  • Jun 21, 2012 5:10pm Jun 21, 2012 5:10pm
Quoting Quezoy
AUD/CAD, played the break down from a solid resistance and 50fib ret.
1/2 banked 40 pips, rest BE.
If we go through support I'll look for chances to add.

EUR/AUD, overall downtrend still intact, has a nice rising channel alligned with 1.25 RN. Good shorting opportunity IMO, but its kindda counter trend ATM since aussie is falling big time.

Opinion, DW?

Yes Quezoy those kinds of channel I like the on your EURAUD chart are what I like to keep an eye on, they can be a good indication of a continuation. Does not always mean that is what will actually happen though. The market is conolidating slowly just a matter of what way the next thrust will push it.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,619
  • Jun 22, 2012 3:10am Jun 22, 2012 3:10am
AUD/CAD is going well, reached support area. Lets see if price can break it, then I'll look for opportunities to add positions.
If not Ill probably close on the last swing high.

EUR/AUD not looking god ATM. I am trading against myself to a certain degree by taking this position, but the correlation is not that big again.
I just liked the setup.
Now, I wouldnt like this 4H candle to close above 1.25, but untill it stays inside the channel I will keep the position open.
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Thoughts are things
  • #1,620
  • Jun 22, 2012 3:37am Jun 22, 2012 3:37am
Quoting Quezoy
AUD/CAD is going well, reached support area. Lets see if price can break it, then I'll look for opportunities to add positions.
If not Ill probably close on the last swing high.

EUR/AUD not looking god ATM. I am trading against myself to a certain degree by taking this position, but the correlation is not that big again.
I just liked the setup.
Now, I wouldnt like this 4H candle to close above 1.25, but untill it stays inside the channel I will keep the position open.
Hi Quezoy,

The question I would ask you is why did you move your sell position up rather than leaving it below the channel ?

I would be waiting until I either see solid bar to break the channel short or waiting for a break pullback or break pause set up out of the channel.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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