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Price Action and Trading Discussion

  • #2,021
  • Aug 10, 2012 4:30am Aug 10, 2012 4:30am
Quoting Quezoy
I've joined you in this USD/CAD short.
Im also USD/CHF short.
So far so good.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,022
  • Aug 10, 2012 4:33am Aug 10, 2012 4:33am
Took this one with rejection at the resistance area.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 4 hourly 10-08.jpg Size: 85 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,023
  • Aug 11, 2012 11:05pm Aug 11, 2012 11:05pm
Quoting DarkWolF
Took this one with rejection at the resistance area.
nice setup! goodluck
  • #2,024
  • Aug 12, 2012 7:10am Aug 12, 2012 7:10am
Quoting DarkWolF
Took this one with rejection at the resistance area.
Target achieved on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 4 hourly 11-08 TP.jpg Size: 95 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,025
  • Aug 12, 2012 7:25am Aug 12, 2012 7:25am
Quoting DarkWolF
Short pending order for USDCAD daily.
So far so good.

Price pushed back up during Fridays session and then straight back down again. Have my target in place.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Daily 11-08.jpg Size: 88 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,026
  • Aug 12, 2012 7:27am Aug 12, 2012 7:27am
Quoting dboy365
nice setup! goodluck
Thanks dboy. As you can see by the images just posted the TP was hit so all was good.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,027
  • Aug 12, 2012 10:58am Aug 12, 2012 10:58am
Quoting DarkWolF
Thanks dboy. As you can see by the images just posted the TP was hit so all was good.
Hey DW, whats your lowest, average and highest R:R on your successful trades history?
  • #2,028
  • Aug 12, 2012 9:04pm Aug 12, 2012 9:04pm
Quoting dboy365
Hey DW, whats your lowest, average and highest R:R on your successful trades history?
Hi dboy,

I am not exactly sure how you would like me to measure that.

The generic MT4 results does not give you that data, maybe I would need to link my account to one of those stats services.

I do not pay that much attention to R:R.

I look mainly at the levels of the market where price has previously had a reaction. I do not see the point of saying ok I am going to have a TP at 1:2 R:R if that target area puts your TP in an area that has no logical reason for it to be there.

If my target area is below 1:1 or below 2:2 it really does not bother me as I see the areas where price has previously had a reaction, to be more important that an area simply because it is 1:1 or 2:1 R:R.

Risk management and position sizing is more important to me than an area on a chart that says this is where I will TP simply because of the R:R lines up with some figure.

I hope this makes sense.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,029
  • Aug 13, 2012 1:05am Aug 13, 2012 1:05am
Quoting DarkWolF
So far so good.

Price pushed back up during Fridays session and then straight back down again. Have my target in place.
There is a Demand zone+ Murray's support line+Daily trendline around the target- it should be solid rebound from down there.
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 20 KB
  • #2,030
  • Aug 13, 2012 3:54am Aug 13, 2012 3:54am
USD/JPY shows the desire to move down to 76.00. It could be nice short trades in the channel on H4.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd jpj.gif Size: 20 KB
Click to Enlarge Name: usd jpj h4.gif Size: 16 KB
  • #2,031
  • Aug 13, 2012 6:18am Aug 13, 2012 6:18am
Quoting vitall
There is a Demand zone+ Murray's support line+Daily trendline around the target- it should be solid rebound from down there.
Hi Vitall,

Yes there is some strong support evident below which is why I have my TP in place around this area.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,032
  • Aug 13, 2012 6:20am Aug 13, 2012 6:20am
Quoting vitall
USD/JPY shows the desire to move down to 76.00. It could be nice short trades in the channel on H4.
This pair has been in heavy congestion over the last couple of weeks, but yes the trend is most certainly down at the moment.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,033
  • Aug 13, 2012 7:55am Aug 13, 2012 7:55am
Quoting DarkWolF
So far so good.

Price pushed back up during Fridays session and then straight back down again. Have my target in place.
Have put a BE in place on my USDCAD daily position.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,034
  • Aug 15, 2012 6:21am Aug 15, 2012 6:21am
2 setups based on the break&pullback principle.

U/J breaks TL&resistance, pulls back and triggers my pending buy above.
N/U broke support; I have a pendind sell below its as I expect it to hold as resistance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 167 KB
Click to Enlarge Name: nu.jpg Size: 152 KB
Thoughts are things
  • #2,035
  • Aug 19, 2012 5:47am Aug 19, 2012 5:47am
Quoting DarkWolF
Have put a BE in place on my USDCAD daily position.

Hi guys,

I hope you all have been picking up some good profitable trades.

I have been away since Tuesday with work, when I got back it was good to see my TP level achieved on this position.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Daily 17-08 TP.jpg Size: 85 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,036
  • Aug 19, 2012 6:43am Aug 19, 2012 6:43am
Quoting DarkWolF
Hi guys,

I hope you all have been picking up some good profitable trades.

I have been away since Tuesday with work, when I got back it was good to see my TP level achieved on this position.
nice one DW
  • #2,037
  • Aug 19, 2012 3:07pm Aug 19, 2012 3:07pm
Quoting Quezoy
2 setups based on the break&pullback principle.

U/J breaks TL&resistance, pulls back and triggers my pending buy above.
N/U broke support; I have a pendind sell below its as I expect it to hold as resistance.
UJ going well.
NU hit SL; the support below was to solid. Loss was small, but I should have been more cautious with this support looming below.

I became pickier with trades but not yet picky enough.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 183 KB
Thoughts are things
  • #2,038
  • Aug 23, 2012 5:28am Aug 23, 2012 5:28am
Hi guys,

I have not had too much going on with the charts over the last few days, but have put this pending order for AUDUSD in for a short position.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 4 hourly 23-08.jpg Size: 83 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,039
  • Aug 23, 2012 3:41pm Aug 23, 2012 3:41pm
Quoting DarkWolF
Hi guys,

I have not had too much going on with the charts over the last few days, but have put this pending order for AUDUSD in for a short position.

BE in place, now have a risk free trade.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 4 hourly BE 24-08.jpg Size: 93 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,040
  • Aug 24, 2012 9:29am Aug 24, 2012 9:29am
Quoting DarkWolF
BE in place, now have a risk free trade.
Have moved my stop down now on this to lock in some pips. Placing the trailing stop just above the lows and the RN area.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 4 hourly 24-08 first trail.jpg Size: 96 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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