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Price is Everything Chat Room

  • #3,201
  • Jun 27, 2012 11:42am Jun 27, 2012 11:42am
Quoting Tyoon
Interesting discussion guys. Going to stick my neck in and share my thoughts on AU in the bigger picture.

Looks to me price will fill the current range at least to near the top.

..
Eyes on the 15m. It Needs to make a significant LL (and beat a demand level) if it has any chances on going down.

This area has been one hell of a fight.
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  • #3,202
  • Jun 27, 2012 11:46am Jun 27, 2012 11:46am
Quoting Venice
This area has been one hell of a fight.
It usually is when price consumes.
  • #3,203
  • Jun 27, 2012 12:10pm Jun 27, 2012 12:10pm
took 2 pips from aud...lol...
the market made me tired waiting for it to tell me whats in the cards.
also my euro trade got stopped for +14.
have a good one guys!!!
ill be here later posting my updated charts and zones.
very nice discussions today.thank you!
  • #3,204
  • Jun 27, 2012 12:36pm Jun 27, 2012 12:36pm
Quoting elliotrader
very nice discussions today.thank you!
Hope you're pip-positive for today then.

Looks like price wants to break out to the upside of these ranges/highs. If not, it could break the low of the larger range to pick up more demand.

..
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  • #3,205
  • Jun 27, 2012 12:49pm Jun 27, 2012 12:49pm
The mangled crap that thing thing likes to slightly present itself as (ascending triangle) is more so inline with the Daily as well. Daily demand turned from supply is where we are currently sitting.

Gaps make it a little funky... but I believe this mess is coming from the Daily saying we should be going north, and H4 saying we want to stop here.

Higher timeframe generally overrides lower... however, a move always starts from the lower time frame and pulls the higher time frames with it.

Basically, this mess were currently in is the top for the next wave down, or this is the bottom for the next wave up.
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  • #3,206
  • Jun 27, 2012 1:11pm Jun 27, 2012 1:11pm
Quoting Venice
Basically, this mess were currently in is the top for the next wave down, or this is the bottom for the next wave up.
The latter IMO.
  • #3,207
  • Jun 27, 2012 1:21pm Jun 27, 2012 1:21pm
Quoting Tyoon
The latter IMO.
Yep. Current PA on the lower time frame is pointing to that... but, of course... we must wait for the break & retest.
  • #3,208
  • Jun 27, 2012 1:45pm Jun 27, 2012 1:45pm
Quoting Tyoon
Hope you're pip-positive for today then.

..
yes im green for the day.
didnt actually have a losing trade today.
what for me is just as important as being green in the end of the day is to progress each day with regards to reading price action.
once u really know how price moves and what to expect if you are right or wrong that is the big challenge.green will than follow....
see u guys later,need a nap...
  • #3,209
  • Jun 27, 2012 3:21pm Jun 27, 2012 3:21pm
Quoting Tyoon
Looks like price wants to break out to the upside of these ranges/highs.
TEXTBOOK. Decision to break - new demand. Pullback into demand and continue the break.

..
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  • #3,210
  • Jun 27, 2012 3:58pm Jun 27, 2012 3:58pm
Quoting Tyoon
TEXTBOOK. Decision to break - new demand. Pullback into demand and continue the break.

..
Yep. Although, the real fireworks should come > 1.0088. Bears are trying up to the very last penny to defend it. heh. All those stops above this level for whom have been defending this triangle. All in all, i've been sitting on my hands all day today. The chop is mind numbing.
  • #3,211
  • Jun 27, 2012 4:44pm Jun 27, 2012 4:44pm
Quoting Venice
Yep. Although, the real fireworks should come > 1.0088.
The 88 top of range held well. Looks like Asia could keep within the box.

..
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  • #3,212
  • Jun 27, 2012 5:21pm Jun 27, 2012 5:21pm
And here we go.
  • #3,213
  • Jun 27, 2012 6:03pm Jun 27, 2012 6:03pm
Making a play back for the retest of supply > demand.

Price is starting to look more bull flaggish ATM. Kinda jacked up my entry, risk is 8 pips for 24.

All yours market, make your move.
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  • #3,214
  • Jun 27, 2012 6:24pm Jun 27, 2012 6:24pm
oh man looks like i missed some action.....
  • #3,215
  • Jun 27, 2012 6:29pm Jun 27, 2012 6:29pm
i only trade london and ny sessions but will defentally watch this.
looks like price might find some sellers and flag to the source of the poll=our new demand.
can u guys pls share with me your experience with trading this hrs.im curious to know.
and venice are u short with a sl=8?sorry im a bit confused.too much sleep.
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  • #3,216
  • Jun 27, 2012 6:34pm Jun 27, 2012 6:34pm
im sorry i couldnt resist...took a short.sl=-7 pips.
ill be happy if i make some pips but will be upset that im breaking one of my rules.
but -7 pips ,i really couldnt say no.....
edit:euro looks very interesting too but ill stick to 1 trade during my so called "off" trading hrs.
  • #3,217
  • Edited 8:27pm Jun 27, 2012 7:12pm | Edited 8:27pm
Hi all,
AU has hit an area of previous demand turned supply / swap area, based, and now dropped out. I've placed a pending order to go short and place my stop just above the basing area.

Obviously i'm expecting price to re-test the supply area and then continue down lower - I've set my target conservatively and it's a 1:2 risk/reward trade.

Would be keen to know if any others would take this entry differently?

EDIT: ended up out at BE - I set my SL to BE after first retracement and continuation - as it turns out AU wants to go higher
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- Look to the left, Trade to the right - I am the system
  • #3,218
  • Jun 27, 2012 11:36pm Jun 27, 2012 11:36pm
lets see how it goes...
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Live it or leave it!
  • #3,219
  • Jun 27, 2012 11:40pm Jun 27, 2012 11:40pm
Am watching the exact same Slurpee
- Look to the left, Trade to the right - I am the system
  • #3,220
  • Jun 27, 2012 11:51pm Jun 27, 2012 11:51pm
Quoting Sebastiaan76
Am watching the exact same Slurpee
our orders will take the price to the sky!!!

Live it or leave it!
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