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Price Action and Trading Discussion

  • #2,101
  • Sep 6, 2012 3:54pm Sep 6, 2012 3:54pm
Quoting jibjib210
SL hit for all pairs!

nzd/usd, aud/jpy short

eur/aud long

-400 pips

So much for capital preservation :S

Waiting to enter nzd/usd again on daily if it closes below .8000. Daily has made low high pattern twice.
Hi Jib,

Ya there has been some sharp moves pushing price. Be careful at this point if the month due to the news releases that are coming out. NFP today so trade with caution, or potentially give any trades a miss until after the data has been released and the market settles again.

Stick to your plan and dont let the emotion of the loss take over any decisions.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,102
  • Sep 7, 2012 4:57am Sep 7, 2012 4:57am
Hi guys,

Took an entry long on GBPCAD 4 hourly. Support area lining up with the trend line. Now to wait and see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD 4 hourly 07-09.jpg Size: 90 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,103
  • Sep 7, 2012 5:23am Sep 7, 2012 5:23am
Quoting DarkWolF
Hi guys,

Took an entry long on GBPCAD 4 hourly. Support area lining up with the trend line. Now to wait and see how it goes.
took a long on AU,NU and oil, albeit late on most because i have been very busy lately. Any idea how to combine work and forex trading together. ??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.jpg Size: 81 KB
Click to Enlarge Name: nu.jpg Size: 85 KB
Click to Enlarge Name: oil.jpg Size: 78 KB
  • #2,104
  • Sep 7, 2012 5:46am Sep 7, 2012 5:46am
Quoting dboy365
took a long on AU,NU and oil, albeit late on most because i have been very busy lately. Any idea how to combine work and forex trading together. ??
Looking a bit better off than mine, 50 pips straight against me as soon as I took entry, but oh well thats trading gotta take the good with the bad.

Well that depends on what time zone you live in. For me in Australia it works out quite well as the London and New York sessions are at night time for us. The 4 hourly closes are at perfect times and the daily candles close at the right time so that I can check them just before I go to work. Only issue that it causes for me at times is when you have a busy social week I dont get to view the charts too often.

I guess the only way to make it easier is to look at the daily or weekly views that way you dont need to check your charts as often, or depending on your job take a laptop to work that you can check charts on.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,105
  • Sep 7, 2012 6:34am Sep 7, 2012 6:34am
Quoting DarkWolF
Looking a bit better off than mine, 50 pips straight against me as soon as I took entry, but oh well thats trading gotta take the good with the bad.

Well that depends on what time zone you live in. For me in Australia it works out quite well as the London and New York sessions are at night time for us. The 4 hourly closes are at perfect times and the daily candles close at the right time so that I can check them just before I go to work. Only issue that it causes for me at times is when you have a busy social week I dont get to view the charts...
I'm in Texas. Any idea if and how the mt4 installs on an ipad or a tablet?
  • #2,106
  • Sep 7, 2012 9:28am Sep 7, 2012 9:28am
Quoting dboy365
took a long on AU,NU and oil, albeit late on most because i have been very busy lately. Any idea how to combine work and forex trading together. ??
up 80+pips on my AU, NU. Added GJ after retracement. SL moved to near BE to reduce risk on these pairs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.jpg Size: 81 KB
Click to Enlarge Name: nu.jpg Size: 88 KB
Click to Enlarge Name: gj.jpg Size: 70 KB
  • #2,107
  • Sep 7, 2012 9:52am Sep 7, 2012 9:52am
Quoting dboy365
up 80+pips on my AU, NU. Added GJ after retracement. SL moved to near BE to reduce risk on these pairs.
Had to head out tonight only just got back to look at the charts, looks like the NFP has done you well dboy, good work on the pips make sure to lock some in.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,108
  • Sep 7, 2012 9:55am Sep 7, 2012 9:55am
Quoting dboy365
I'm in Texas. Any idea if and how the mt4 installs on an ipad or a tablet?
I have an ipad that I have an instal from my broker that I can view the charts etc, it is not a true MT4 as such though. The iphone has metatrader 4 if you search for that in the app store, I just tried it for the ipad but it does not come up as an ipad app.

Most brokers have some sort app these days that allows you to access your MT4 account.

As far as a tablet that I am not too sure on but as you can get windows based tablets would they not be quite similar to a lap top or a PC and simply have the ability to install software. Maybe someone who has a tablet could shed some light on that for us.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,109
  • Sep 7, 2012 9:56am Sep 7, 2012 9:56am
Quoting DarkWolF
Had to head out tonight only just got back to look at the charts, looks like the NFP has done you well dboy, good work on the pips make sure to lock some in.
ye ...90+ on them. SL moved to BE. I'l lock some more before today's market close
  • #2,110
  • Sep 7, 2012 10:00am Sep 7, 2012 10:00am
Quoting dboy365
ye ...90+ on them. SL moved to BE. I'l lock some more before today's market close
Good work

I just looked up the time difference in Texas and if I am correct it would make it early hours of the morning when the main sessions are open for you. Which of course would make it a little difficult and the daily close would be half way ish through your work day ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,111
  • Sep 7, 2012 10:02am Sep 7, 2012 10:02am
My GBPCAD position improved slightly but still 20 ish pips against me at the moment.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,112
  • Sep 7, 2012 10:03am Sep 7, 2012 10:03am
EURUSD has broken nicely to the upside straight through daily / 4 hourly resistance areas and the channel that has contained it for some time now.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,113
  • Sep 7, 2012 10:12am Sep 7, 2012 10:12am
Quoting DarkWolF
My GBPCAD position improved slightly but still 20 ish pips against me at the moment.
I was considering one of 2 positions earlier one being GBPCAD and the other EURCAD both long. I opted for the GBPCAD position but EURCAD would have been the much better option with the target area I would have aimed for already hit.

However I am still in the game on GBPCAD the stop did come close to being hit though.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 81 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,114
  • Sep 7, 2012 10:15am Sep 7, 2012 10:15am
Quoting DarkWolF
Good work

I just looked up the time difference in Texas and if I am correct it would make it early hours of the morning when the main sessions are open for you. Which of course would make it a little difficult and the daily close would be half way ish through your work day ?
ye thats the point. I can either decide to look the daily chart close when im closing work at 5pm Central time or during the asian market for nice setups. the europe and london market opens around 12-2am here and that means depriving myself of vital sleep some times...really tough knowing that I have to be at work the next few hours...
I'l try the ipad thing but hope it works pretty cool.
  • #2,115
  • Sep 7, 2012 10:22am Sep 7, 2012 10:22am
Quoting dboy365
ye thats the point. I can either decide to look the daily chart close when im closing work at 5pm Central time or during the asian market for nice setups. the europe and london market opens around 12-2am here and that means depriving myself of vital sleep some times...really tough knowing that I have to be at work the next few hours...
I'l try the ipad thing but hope it works pretty cool.
Ya over the last few weeks I have being setting my alarm to wake me up at 2:30 am wich is the next 4 hourly close time for me usually after I head to bed. But I find at times there will be some bars that come within a few pips of targets that if you were watching would have closed out manually. So I get up at 2:30 am for 10 to 15 mins check the charts etc and then head back to bed.

So potentially just looking briefly at 4 hourly charts could be an option, knowing the set ups your looking for and making the decision set your orders and off you go again.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,116
  • Sep 7, 2012 10:24am Sep 7, 2012 10:24am
Potential for EURJPY to show some rejection at the parity level.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,117
  • Sep 7, 2012 10:48am Sep 7, 2012 10:48am
Quoting DarkWolF
Ya over the last few weeks I have being setting my alarm to wake me up at 2:30 am wich is the next 4 hourly close time for me usually after I head to bed. But I find at times there will be some bars that come within a few pips of targets that if you were watching would have closed out manually. So I get up at 2:30 am for 10 to 15 mins check the charts etc and then head back to bed.

So potentially just looking briefly at 4 hourly charts could be an option, knowing the set ups your looking for and making the decision set your orders and off you...
thanks....
Trade update. All SL moved to BE. what kindda news moved the pairs really fast...Almost had my SL for oil taken out. Glad im still in and up by 38pips because i see more potential for the 98/100ish target.
Nice moves up Au and NU.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.jpg Size: 81 KB
Click to Enlarge Name: nu.jpg Size: 88 KB
Click to Enlarge Name: oil.jpg Size: 73 KB
Click to Enlarge Name: gj.jpg Size: 70 KB
  • #2,118
  • Sep 7, 2012 12:49pm Sep 7, 2012 12:49pm
Quoting dboy365
thanks....
Trade update. All SL moved to BE. what kindda news moved the pairs really fast...Almost had my SL for oil taken out. Glad im still in and up by 38pips because i see more potential for the 98/100ish target.
Nice moves up Au and NU.
106PIPS ON OIL.
Attached Image (click to enlarge)
Click to Enlarge Name: oil.jpg Size: 72 KB
  • #2,119
  • Sep 7, 2012 1:33pm Sep 7, 2012 1:33pm
I am looking for views on what they feel best indicates that a move is over the market is collecting more orders for the next trend move.

EG.

Todays GU is a good example. We can see we where off to the race and shot up 50 points for it to then retrace 120% of the initial move for it to then tank off 150 pips. Now question is how can you use price action to indicate that the down move is over? I can see a fibo extension 261 and 188 from 2 different swing points on that leg. 1.5946 area is the level to buy at based on bullish momentum building with hardly a retrace however risk to reward is not that good compared if you got in earlier?

Thanks.
Find your Favourite Pattern
  • #2,120
  • Sep 8, 2012 8:28am Sep 8, 2012 8:28am
Quoting dboy365
106PIPS ON OIL.
Nice work on the trades dboy.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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