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Price Action and Trading Discussion

  • #2,481
  • Edited 11:47am Nov 4, 2012 10:01am | Edited 11:47am
3 charts I'll have an eye on.

USD/JPY
After some trouble 0.80 was broken and I expect the pair to stay above.
A very good spot to go long is the 0.80, 50fib ret confluence.

EUR/CAD
The CAD was 2nd strongest this week and this pair fell strongly since wednesday. But technically we're still in an uptrend, have a 4H pinbar from the TL and since E/U reached strong support I wouldnt be surprised to see a solid move up from here. Euro gaining acroos the Dollar therefore also the other Euro pairs could/should gain.

AUD/USD
Resistance couldnt be broken, but since we are in an uptrend I would go long at the TL. And as writen above, because the E/U support is reached I think USD will momentarily lose across the board.
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Thoughts are things
  • #2,482
  • Nov 4, 2012 1:26pm Nov 4, 2012 1:26pm
Quoting Quezoy
Hey P, welcome to the thread.

About G/J
I wouldnt short for 2 reasons:
1. Its countertrend what I am trying to avoid.
2. Jen was fundmentaly the weakest currency last weak and I see no signs for a change.

Quezoy thank you for your ideas.

1h time frame it has lower swing low. it seems uptrend was end
4h-daily frame 2 top head
weekly time frame there is downtrend.
it is the reason for short enter.
and also there is negative divergence.
time will show us. thanks again
  • #2,483
  • Nov 4, 2012 2:48pm Nov 4, 2012 2:48pm
Acctually, I have to revise my EUR/CAD post from before.

Price broke below support and TL. If I see a pullback I will definetly short.
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Thoughts are things
  • #2,484
  • Nov 4, 2012 3:20pm Nov 4, 2012 3:20pm
Quoting Quezoy
Acctually, I have to revise my EUR/CAD post from before.

Price broke below support and TL. If I see a pullback I will definetly short.
i concur. my only distinction is that i want price to dip much lower, before the pullback...otherwise, it will just be a bounce....

i like CAD fundie vs EUR fundie.
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" It may mean something. It may mean nothing at all "
  • #2,485
  • Nov 4, 2012 3:23pm Nov 4, 2012 3:23pm
Quoting P.Action
Thanks darkwolf!

Firstly GBP-JPY charts are below. it seems to enter short order. what are your opinions?




Hi P.Action,

Well for me there is not too much to do on this pair for now except wait and watch.

Weekly is pretty much sideways with not much going on.

Daily has some potential at the moment for it to essentially go either way, but I have put some thoughts on a chart of what I am watching on this one.

This kind of pattern can generally lead to a bearish continuation, but if we can break and hold above the resistance area at the 130.00 area that could change the picture for me.

Could we trade from the resistance area ? Sure we most certainly can and sometimes I most definatley will do so, but on this occassion I would be a little cautious. If we had a nice strong bar spiking up through and then rejecting the RN level that may get my attention a bit more.

For now, just watching.

Can I suggest attaching your images through Forex Factory rather than through image shack as it makes it a bit easier to view them
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,486
  • Nov 4, 2012 3:30pm Nov 4, 2012 3:30pm
Hi Quezoy and Skynet,

EURCAD certainly an area to be keeping an eye on
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,487
  • Nov 4, 2012 3:36pm Nov 4, 2012 3:36pm
Quoting DarkWolF
Hi Quezoy and Skynet,

EURCAD certainly an area to be keeping an eye on
GBP/CAD starting to look good.....
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" It may mean something. It may mean nothing at all "
  • #2,488
  • Edited Nov 5, 2012 9:39am Nov 4, 2012 3:45pm | Edited Nov 5, 2012 9:39am
Gbp/zar....aud/hkd....nzd/chf...chf/jpy...sgd/chf....eur/usd...cad/sgd...
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" It may mean something. It may mean nothing at all "
  • #2,489
  • Nov 4, 2012 4:03pm Nov 4, 2012 4:03pm
Resistance area.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,490
  • Nov 4, 2012 4:08pm Nov 4, 2012 4:08pm
Quoting DarkWolF
Resistance area.

oh yes, absolutely. massive one. daily, weekly, and monthly one.
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" It may mean something. It may mean nothing at all "
  • #2,491
  • Nov 4, 2012 9:35pm Nov 4, 2012 9:35pm
these are the pairs I am actual watching for PA
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  • #2,492
  • Nov 4, 2012 10:20pm Nov 4, 2012 10:20pm
looks also intersting but higher risk cause CT (counter trend)
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  • #2,493
  • Nov 5, 2012 12:25am Nov 5, 2012 12:25am
Well lets see what the new week is going to bring now that the London session has started.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,494
  • Nov 5, 2012 12:43am Nov 5, 2012 12:43am
Since EU broke 1.28 and spanish unemployment numbers were horrible I went short.
Thoughts are things
  • #2,495
  • Nov 5, 2012 12:48am Nov 5, 2012 12:48am
Quoting Quezoy
Since EU broke 1.28 and spanish unemployment numbers were horrible I went short.
Yep, but now to see if the break level can hold.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,496
  • Nov 5, 2012 1:03am Nov 5, 2012 1:03am
Quoting Quezoy
Since EU broke 1.28 and spanish unemployment numbers were horrible I went short.
i noticed that too...perhaps, risk on/risk off is receding into the background in favour of classical market reaction where good news means bullish reaction, and bad news means bearish reaction. what do i mean? in the last couple of months: good news for the USD has always means = EUR rallies(e.g., look at the surprisingly positive USD october NFP market reaction= EUR rallies and the USD sold off. even though the number was surprisingly positive for the USD)...THE situation is such that bad news for the USD = eur rallies because it is bad news for the USD)...bad news for the EUR= eur barely sells.

Now....good news for the USD = EUR sells off.....bad news for the EUR = EUR seems to sells off... things are making classical sense again. rather than the risk off/risk on where good/bad news for the USD means = EUR rallies. anyways, we will see how long this last...

Quoting DarkWolF
Yep, but now to see if the break level can hold.
GOOd point..there is a shitload of support below that area.

http://www.forexfactory.com/attachme...1&d=1351688761

http://www.forexfactory.com/attachme...2&d=1351688761
" It may mean something. It may mean nothing at all "
  • #2,497
  • Nov 5, 2012 1:19am Nov 5, 2012 1:19am
Quoting DarkWolF
Yep, but now to see if the break level can hold.
Was a bit of an impulsive entry. Its is what it is now.
Thoughts are things
  • #2,498
  • Nov 5, 2012 1:28am Nov 5, 2012 1:28am
Quoting Quezoy
Was a bit of an impulsive entry. Its is what it is now.
Still a good chance we may see the previous lows hold as resistance now they have been broken.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,499
  • Nov 5, 2012 6:10am Nov 5, 2012 6:10am
Quoting DarkWolF
Still a good chance we may see the previous lows hold as resistance now they have been broken.
For now it looks good. Price moves lower but forms spikes.
ForexLive claims there are bids around 1.2775, which may be the cause of those spikes and are (probably/maybe?) cleared now.

Besides, a danish bank collapsed.

Lets go south now.
Thoughts are things
  • #2,500
  • Edited 9:57am Nov 5, 2012 9:35am | Edited 9:57am
Quoting Skynet
....SGD/CHF....r
well...SGD/CHF is slowing rising.....
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" It may mean something. It may mean nothing at all "
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