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Price Action and Trading Discussion

  • #2,541
  • Nov 7, 2012 3:28am Nov 7, 2012 3:28am
GBPNZD could have some potential to be holding below the channel that was containing it on the daily chart.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,542
  • Nov 7, 2012 5:34am Nov 7, 2012 5:34am
Quoting DarkWolF
GBPNZD could have some potential to be holding below the channel that was containing it on the daily chart.
this is what i see DW

Attached Image (click to enlarge)
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  • #2,543
  • Nov 7, 2012 5:52am Nov 7, 2012 5:52am
Quoting DarkWolF
GBPNZD could have some potential to be holding below the channel that was containing it on the daily chart.
I like that one, it closed nicely below, made a pullback up and continued.

But the other GBP/comdolls and gold reached now S/R levels, after quite strong moves. So... consolidation/pullback time?

Anyway, Im just trying some intermarket analysis.
Attached Image(s) (click to enlarge)
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Thoughts are things
  • #2,544
  • Nov 7, 2012 6:18am Nov 7, 2012 6:18am
Quoting P.Action
this is what i see DW

Attachment
Hi P.Action,

I try to keep things relatively simple.

This is what I have on my chart.

EURUSD and EURGB could have some potential also for further short opportunities.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,545
  • Nov 7, 2012 6:33am Nov 7, 2012 6:33am
Quoting Quezoy
I like that one, it closed nicely below, made a pullback up and continued.

But the other GBP/comdolls and gold reached now S/R levels, after quite strong moves. So... consolidation/pullback time?

Anyway, Im just trying some intermarket analysis.
Hi Quezoy,

Some good solid areas there. I do not follow gold that much though I dont even have the chart on any of my platforms, maybe I should follow it just out of curiosity.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,546
  • Nov 7, 2012 6:40am Nov 7, 2012 6:40am
Quoting DarkWolF
Hi Quezoy,

Some good solid areas there. I do not follow gold that much though I dont even have the chart on any of my platforms, maybe I should follow it just out of curiosity.
I also dont follow it, but it is strongly negatively correlated to the $ and positively to the comdolls.

Should be a big ass leading indicator. The 2nd is Oil.
For example, Oil was very strong yesterday, there was a price mark up or something and USD/CAD fell big time. So was gold and A/U and N/U gained.
I'll watch those 2 closely in the future and see if I can find some sense.

For the case you dont know that allready, heres a cheatsheet.
Thoughts are things
  • #2,547
  • Nov 7, 2012 6:46am Nov 7, 2012 6:46am
Quoting Quezoy
I also dont follow it, but it is strongly negatively correlated to the $ and positively to the comdolls.

Should be a big ass leading indicator. The 2nd is Oil.
For example, Oil was very strong yesterday, there was a price mark up or something and USD/CAD fell big time. So was gold and A/U and N/U gained.
I'll watch those 2 closely in the future and see if I can find some sense.

For the case you dont know that allready, heres a cheatsheet.
Some good info there.

Ya there are some currencies that can be directly releated to commodoties and you will find some correlation in the charts.

I have gone down that path once upon a time but now I do not pay too much attention to correlation.

But like I always say, if you find something that is useful to your trading and it works for you then stick to it.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,548
  • Nov 7, 2012 6:51am Nov 7, 2012 6:51am
Quoting Skynet
Gbp/zar....aud/hkd....nzd/chf...chf/jpy...sgd/chf....eur/usd...cad/sgd...
previous chart:


http://www.forexfactory.com/attachme...0&d=1352075400


UPDATE:
unfortunately, price didnt get to my entry ppint before falling....damn it!
Attached Image (click to enlarge)
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" It may mean something. It may mean nothing at all "
  • #2,549
  • Nov 7, 2012 6:56am Nov 7, 2012 6:56am
Quoting Skynet
well...SGD/CHF is slowing rising.....

UPDATE....nice...sweet...
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" It may mean something. It may mean nothing at all "
  • #2,550
  • Nov 7, 2012 6:59am Nov 7, 2012 6:59am
Quoting Skynet
previous chart:





UPDATE:
unfortunately, price didnt get to my entry ppint before falling....damn it!
Can be frustrating at times by as you know there will be plenty of other opportunities
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,551
  • Nov 7, 2012 7:00am Nov 7, 2012 7:00am
Quoting Skynet
UPDATE....nice...sweet...
Slow and steady can win the race
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,552
  • Nov 7, 2012 7:12am Nov 7, 2012 7:12am
Quoting DarkWolF
Can be frustrating at times by as you know there will be plenty of other opportunities
THANKS, darkwolf...here is another one...my GBP/ZAR....profit target is roughly +1,200 pips...spread is big though(85pips.). average daily range is 1,200 pips give or take.
anyways...

Quoting Skynet
Gbp/zar....aud/hkd....nzd/chf...chf/jpy...sgd/chf....eur/usd...cad/sgd...
GBPZAR...before:

http://www.forexfactory.com/attachme...1&d=1352073025

UPDATE: AFTER:
(it didnt bother giving me a pullback to retest before running away to TP. DAMN!)
Attached Image (click to enlarge)
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" It may mean something. It may mean nothing at all "
  • #2,553
  • Nov 7, 2012 7:25am Nov 7, 2012 7:25am
Quoting Skynet
Gbp/zar....aud/hkd....nzd/chf...chf/jpy...sgd/chf....eur/usd...cad/sgd...
it didnt end there...the AUD/HKD...followed the same pattern....before reversing with a vengeance....

it almost reach entry point...then went back down to TP(missed by a couple of tiny pips...) before reversing with a vengeance...the chart tells the tale.
Attached Image (click to enlarge)
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" It may mean something. It may mean nothing at all "
  • #2,554
  • Nov 7, 2012 7:31am Nov 7, 2012 7:31am
Quoting Quezoy
I also dont follow it, but it is strongly negatively correlated to the $ and positively to the comdolls.

Should be a big ass leading indicator. The 2nd is Oil.
For example, Oil was very strong yesterday, there was a price mark up or something and USD/CAD fell big time. So was gold and A/U and N/U gained.
I'll watch those 2 closely in the future and see if I can find some sense.

For the case you dont know that allready, heres a cheatsheet.
YOU ARE MAKING SENSE....it is called correlative/intermarket analysis....
" It may mean something. It may mean nothing at all "
  • #2,555
  • Nov 7, 2012 7:33am Nov 7, 2012 7:33am
Quoting Quezoy
I like that one, it closed nicely below, made a pullback up and continued.

But the other GBP/comdolls and gold reached now S/R levels, after quite strong moves. So... consolidation/pullback time?

Anyway, Im just trying some intermarket analysis.

i like your intermarket analysis...but personally, i dont like those technical levels...just my humble opinion.
" It may mean something. It may mean nothing at all "
  • #2,556
  • Nov 7, 2012 7:49am Nov 7, 2012 7:49am
Quoting Skynet
i like your intermarket analysis...but personally, i dont like those technical levels...just my humble opinion.
What exactly dont u like about them?
Thoughts are things
  • #2,557
  • Nov 7, 2012 8:36am Nov 7, 2012 8:36am
Quoting Skynet
previous chart:


http://www.forexfactory.com/attachme...0&d=1352075400


UPDATE:
unfortunately, price didnt get to my entry ppint before falling....damn it!
me too. My Sell limit entry order wasn't hit.
Attached Image (click to enlarge)
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  • #2,558
  • Nov 7, 2012 9:05am Nov 7, 2012 9:05am
Quoting DarkWolF
Hi Jibjib,

Yes indeed patience can be a virtue when it comes to trading.

I am glad it is one that you are now seeing the benefit of.

I have been keeping on eye on that GBPCHF also for quite some time now looking for price to break out of the daily channel. Looking for a continuation pattern to take place.
Looking to break up. Almost there its literally the end of its wedge!

Gold and aud/jpy positions got spiked out due to election im guessing -200 pips total :S
  • #2,559
  • Nov 7, 2012 9:08am Nov 7, 2012 9:08am
Quoting jibjib210
Gold and aud/jpy positions got spiked out due to election im guessing -200 pips total :S
Dont even mention spikes.

We were stupid to even trade during this. No offence.
Thoughts are things
  • #2,560
  • Nov 7, 2012 9:19am Nov 7, 2012 9:19am
Quoting Quezoy
Dont even mention spikes.

We were stupid to even trade during this. No offence.
Why not is just depend on were and how you look at it and sometime you have to trust and be comfortable with your setup. Example is this eurjpy weekly enter going two week now
Attached Image (click to enlarge)
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and this for today EURUSD 4HOUR SHORT close over 90 pips
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