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Price Action and Trading Discussion

  • #1,861
  • Jul 13, 2012 1:22am Jul 13, 2012 1:22am
Quoting fxshofi
I want a good price action trading ebook which cover everything about price action...please help me out !!!
Hi fxshofi,

I obviously dont know your experience or level of trading knowledge, but if you are relatively new to trading try this site out, all the links on this page will give you hours of reading as well as plenty of videos to watch.

http://www.informedtrades.com/f111/

Price Action is more than just simply looking for a pinbar etc and trading it, its about reading the market and looking the picture of what is happening and why you think that bar or chart pattern is relevant to the current market.

Hope this helps you out a little bit.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,862
  • Jul 13, 2012 6:18am Jul 13, 2012 6:18am
THANK YOU both..
still reading it slowly..
  • #1,863
  • Jul 13, 2012 6:23am Jul 13, 2012 6:23am
Quoting Air Wing
THANK YOU both..
still reading it slowly..
No probs at all Air Wing.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,864
  • Jul 13, 2012 9:44pm Jul 13, 2012 9:44pm
Quoting DarkWolF
Hi fxshofi,

I obviously dont know your experience or level of trading knowledge, but if you are relatively new to trading try this site out, all the links on this page will give you hours of reading as well as plenty of videos to watch.

http://www.informedtrades.com/f111/

Price Action is more than just simply looking for a pinbar etc and trading it, its about reading the market and looking the picture of what is happening and why you think that bar or chart pattern is relevant to the current market.

Hope this helps you...
That is true
  • #1,865
  • Jul 14, 2012 2:55pm Jul 14, 2012 2:55pm
DW and All Contributing Participants. I have been lurking here for a while and have now read the entire thread. This thread is excellent. I have done many techniques you are describing, but I am learning from you all how to add the polish and to close the deal. Your descriptions have given me a lot of confirmation for what seems logical and natural to me in trading. I got away from indicators a year ago and my trading started to get much better just by watching bars. Also I read some Al Brooks (nothing but price action trading. His books are on Amazon). I am applying what I am learning here to 4h and D tf's to add to a BO strategy that I also trade. I always appreciate volunteers who are good and give to the world what they have become good at. Seems natural to me. I hope to be able to contribute as time goes on. Please all, keep this thread going. DW. I am grateful to you for this start and for keeping the contributions focused. Your thread is little over 90 days out from being 1 year old. Shows tremendous interest. I am rating it 5 stars. Thank you for the education. jimmaxx
  • #1,866
  • Jul 15, 2012 4:58am Jul 15, 2012 4:58am
Quoting jimmaxx
DW and All Contributing Participants. I have been lurking here for a while and have now read the entire thread. This thread is excellent. I have done many techniques you are describing, but I am learning from you all how to add the polish and to close the deal. Your descriptions have given me a lot of confirmation for what seems logical and natural to me in trading. I got away from indicators a year ago and my trading started to get much better just by watching bars. Also I read some Al Brooks (nothing but price action trading. His books are on...
Hi Jimmaxx,

Thank you for you kind words and I am glad you getting something from the thread.

I had not even put any thought into how long it has been going I just keep putting up some posts and thoughts each day or when I can but yes you most certainly are correct, the time flies by that is for sure.

Feel free to post up any charts and thoughts also any contribution can be good, and if anything we can assist you in some charting or perhaps even learn something from yourself.

I look forward to potentially seeing some of your charts sometime soon.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,867
  • Jul 15, 2012 5:18am Jul 15, 2012 5:18am
The continuation play that I was looking at last week with EU breaking free from the channel ended up taking place.

Price broke out of the channel making a reasonable move past the near term support of the previous lows.

There could still be some potential for price to reach the 1.2000 area but that could be a major pyschological area with plenty of long term support evident on the weekly chart.

If this area is reached it will no doubt be another one of those strong areas where the bulls will battle it out with the bears.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU Daily 15-07.jpg Size: 108 KB
Click to Enlarge Name: EU Weekly 15-07.jpg Size: 94 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,868
  • Jul 15, 2012 5:32am Jul 15, 2012 5:32am
Still keeping an eye on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY Daily 15-07.jpg Size: 82 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,869
  • Jul 15, 2012 5:49pm Jul 15, 2012 5:49pm
Hi Guys,

Well not too much going on to start the new week.

A small amount of gapping which has already been filled across a few of the pairs.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,870
  • Jul 15, 2012 7:51pm Jul 15, 2012 7:51pm
Hello darkwolf, I can see that you trade mainly on the 5m tf. Do you take your trade in the direction of the main trend or you take your trade based on 5m bounce off sr?
  • #1,871
  • Jul 15, 2012 8:35pm Jul 15, 2012 8:35pm
Quoting olisavictor
Hello darkwolf, I can see that you trade mainly on the 5m tf. Do you take your trade in the direction of the main trend or you take your trade based on 5m bounce off sr?
Hi olisavictor,

I used to trade quite a lot on the 5 min chart but over the last few months pretty much since late Feb early March I have done most of my trading mainly on the 4 hourly and Daily charts, same principles but different time frames. I have done this mainly to reduce the amount of screen time that I was doing to give me more free time to enjoy other things also.

I do much rather prefer to trade in the direction of a trend but there will be times that I will trade against it.

Support and resistance areas play a major part in my trading which I am sure you will see from a lot of the images in the thread.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,872
  • Jul 15, 2012 9:43pm Jul 15, 2012 9:43pm
The EU looks like it's going no where today. what is your takes on that?
  • #1,873
  • Jul 15, 2012 11:23pm Jul 15, 2012 11:23pm
Quoting olisavictor
The EU looks like it's going no where today. what is your takes on that?
It will move at some point. The Asian session is usually rather quiet across the pairs, it is the London and New York sessions when you will see more movement in price.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,874
  • Jul 15, 2012 11:34pm Jul 15, 2012 11:34pm
Quoting DarkWolF
It will move at some point. The Asian session is usually rather quiet across the pairs, it is the London and New York sessions when you will see more movement in price.
We also had a bank holiday for Japan.
  • #1,875
  • Jul 15, 2012 11:38pm Jul 15, 2012 11:38pm
Quoting Verto
We also had a bank holiday for Japan.
I had not looked at the news for the day as yet, but yes indeed we do.

Well we should see things starting to gear up one way or the other pretty soon.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,876
  • Jul 16, 2012 12:14am Jul 16, 2012 12:14am
Short position put in on GU 4 hourly with price stalling below the 1.56000 area.

Position as triggered with a small amount of profit so far.

There is some close by support that could give me some concern but will be looking at the 1.55000 area or slightly above for BE or TP level.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD 4 hourly 16-07.jpg Size: 93 KB
Click to Enlarge Name: GBPUSD 4 hourly1 16-07.jpg Size: 105 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,877
  • Jul 16, 2012 12:50am Jul 16, 2012 12:50am
Quoting DarkWolF
Short position put in on GU 4 hourly with price stalling below the 1.56000 area.

Position as triggered with a small amount of profit so far.

There is some close by support that could give me some concern but will be looking at the 1.55000 area or slightly above for BE or TP level.
very nice trade.. hope can be like you soon.. i'm still learning to determine the better S/R lines in charts..
  • #1,878
  • Jul 16, 2012 12:57am Jul 16, 2012 12:57am
A/U short.

Price gapped up to TL&resistance confluence.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 228 KB
Thoughts are things
  • #1,879
  • Jul 16, 2012 2:07am Jul 16, 2012 2:07am
Quoting Air Wing
very nice trade.. hope can be like you soon.. i'm still learning to determine the better S/R lines in charts..
Well it might be if I can close it with some profits in the bank
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,880
  • Jul 16, 2012 2:10am Jul 16, 2012 2:10am
Quoting Quezoy
A/U short.

Price gapped up to TL&resistance confluence.
Good spot Quezoy, it didnt take long for the gap to fill either.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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