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Price Action and Trading Discussion

  • #2,641
  • Nov 19, 2012 5:03am Nov 19, 2012 5:03am
Quoting diver78
Closed my USD/JPY long with +87 pips.. price action looks good but that 80.00 level scared me off. Many people talking about it as sell point
Some nice pips banked diver, so ya' gotta be happy with that.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,642
  • Nov 19, 2012 5:11am Nov 19, 2012 5:11am
Quoting A_New_Start
My GBPUSD sell stop was triggered, I've got a EURUSD sell stop active under the lows of those 4H candles, significant reversal bar formed last bar, seems like sellers are still lingering around, my EURJPY sell didn't work out too well, I've put a sell stop on EURJPY under lows of indecision bars, maybe this time price will do as anticipated.
Just trying to get the right areas on the chart to check out how these trades went for you.

Looks like EJ didnt get triggered and the other 2 didnt quite go as planned for you.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,643
  • Nov 19, 2012 5:13am Nov 19, 2012 5:13am
Hi all just the one am looking at is Audusd 4hour waiting for the reaction when the trendline reached comments please
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 4 hour 19 11 2012.gif Size: 28 KB
. Good luck.
  • #2,644
  • Nov 19, 2012 5:13am Nov 19, 2012 5:13am
Quoting diver78
Indeed.. I have spent months searching for that perfect indicator combination. I think most newbie traders do so. You try to find an "easier" way. However paying too much attention to indicators just throws your attention away from price action as your focus is on the simple signals they provide. Now, after spending so much time focusing on indis I realize I still have a lot to learn about price action itself. Also, working on higher timeframes price action and patterns seem a little bit easier to read. When you´re trading on smaller timeframes...
Good money management is in my opinion the most important aspect of trading, and am glad to see that it has stopped you from destroying your account
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,645
  • Nov 19, 2012 5:17am Nov 19, 2012 5:17am
Quoting Tiwa
Hi all just the one am looking at is Audusd 4hour waiting for the reaction when the trendline reached comments please Attachment . Good luck.
Hi Tiwa,

Certainly a good area to be keeping an eye on, price stalled pretty much to the pip on the 1.0400.

Now just have to see what may present itself from here.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,646
  • Nov 19, 2012 6:18am Nov 19, 2012 6:18am
Quoting DarkWolF
Hi Guys,

I hope you had a great weekend.

Seeing as I was absent from most of last week, let me see if I can recap some of the trades that I had going. First of all will be the NZDJPY Daily.

This one is a great example of what not to do. Instead of taking profit at the area that I was targeting at the 65.00 RN area that was lining up with the rising trend line, I simply put in a BE and was looking for it to continue on its way.

This obviously did not take place and my BE was taken out with no pips locked away.
I usually close 1 lot when I move my SL to BE. The problem with this is when I have a 1:1 trade the remaining lot has to work a bit harder to cover the inital risk Nowadays I try to find setups with more distant yet obtainable targets. Easier said than done..

I´m looking at 3 pairs this week.
EUR/USD (looking to sell)
USD/CHF (looking to buy)
USD/JPY (looking for a small countrend trade)

I know you don´t mind fundamentals too much but this week might get some fireworks.. US “fiscal cliff”...Greek bailout..
I´m thinking of keeping my trigger-happy finger restrained... at least until tomorrow´s decision on Greece.

Happy trading week everyone
  • #2,647
  • Nov 20, 2012 3:07am Nov 20, 2012 3:07am
Not too much going on at the moment
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,648
  • Nov 20, 2012 8:36am Nov 20, 2012 8:36am
Quoting DarkWolF
Hi Tiwa,

Certainly a good area to be keeping an eye on, price stalled pretty much to the pip on the 1.0400.

Now just have to see what may present itself from here.
This finally respond as expected
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 4 hour 20 11 2012.gif Size: 31 KB
  • #2,649
  • Nov 22, 2012 6:03am Nov 22, 2012 6:03am
Hi Guys,

I hope you have all had a great week so far.

EURUSD Daily: Price is breaking through the trend line and resistance area. Potentially we may see the 1.3000 area retested if resistance can become support.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily 22-11.jpg Size: 86 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,650
  • Nov 22, 2012 6:15am Nov 22, 2012 6:15am
Quoting DarkWolF
Hi Guys,

I hope you have all had a great week so far.

EURUSD Daily: Price is breaking through the trend line and resistance area. Potentially we may see the 1.3000 area retested if resistance can become support.
It look good but this is the way i look at it once a support can become resistance just my way of looking at a set up until those level break i think we should still be looking for short.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 4 hour 22 11 2012.gif Size: 25 KB
  • #2,651
  • Nov 22, 2012 6:31am Nov 22, 2012 6:31am
GBPCHF Daily:

Was looking for a continuation move on this pair, nothing eventuated and price has now moved back into the range bound area.

If the near term support can reamain breached then we have some obvious support areas below.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP CHF Daily 22-11.jpg Size: 99 KB
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  • #2,652
  • Nov 22, 2012 6:35am Nov 22, 2012 6:35am
Quoting Tiwa
It look good but this is the way i look at it once a support can become resistance just my way of looking at a set up until those level break i think we should still be looking for short.
The 1.29000 area on the 4 hourly most certainly does look like a sound resistance area and price is approaching that area as I type. It's bound to be one of those areas where the bulls meet the bears.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,653
  • Nov 22, 2012 6:49am Nov 22, 2012 6:49am
CADJPY Daily:

A good example of horizontal areas at work.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CADJPY Daily 22-11.jpg Size: 89 KB
Click to Enlarge Name: CADJPY 4 hourly 22-11.jpg Size: 68 KB
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  • #2,654
  • Nov 22, 2012 7:11am Nov 22, 2012 7:11am
GBPAUD 4HOUR
What do you think about this one if the present candle closes as pinbar is it good for short
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud4hour 22 10 2012.gif Size: 22 KB
  • #2,655
  • Nov 22, 2012 7:11am Nov 22, 2012 7:11am
Quoting Tiwa
It look good but this is the way i look at it once a support can become resistance just my way of looking at a set up until those level break i think we should still be looking for short.
Stalled right on the area, no surprises there
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,656
  • Nov 22, 2012 7:18am Nov 22, 2012 7:18am
Quoting Tiwa
GBPAUD 4HOUR
What do you think about this one if the present candle closes as pinbar is it good for short
Attachment
Personally, I would like to see stronger close below the previous lows, or if not closing below, waiting for price to break below.

The Daily chart is looking quite bearish.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD 4 hourly 22-11.jpg Size: 93 KB
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  • #2,657
  • Nov 22, 2012 8:35am Nov 22, 2012 8:35am
Euraud 4hour long setup
What do you guys think about this setup if the bounce holds is it good for long comment please
Attached Image (click to enlarge)
Click to Enlarge Name: euraud4hour 22 11 2012 long.gif Size: 24 KB
  • #2,658
  • Nov 22, 2012 10:54am Nov 22, 2012 10:54am
Quoting Tiwa
Euraud 4hour long setup
What do you guys think about this setup if the bounce holds is it good for long comment please
Attachment
Hey I prefer this kind of view but it is similar:
Attached Image (click to enlarge)
Click to Enlarge Name: EAH4.png Size: 42 KB
  • #2,659
  • Nov 23, 2012 11:25pm Nov 23, 2012 11:25pm
Quoting DarkWolF
Hi Guys,

I hope you have all had a great week so far.

EURUSD Daily: Price is breaking through the trend line and resistance area. Potentially we may see the 1.3000 area retested if resistance can become support.
Well guys we seen the 1.300 area get tested as expected.

Now to see where price heads from here. Break and hold or pull away from the resistance area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU Daily 22-11.jpg Size: 86 KB
Click to Enlarge Name: EURUSD Daily 23-11.jpg Size: 83 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,660
  • Nov 23, 2012 11:31pm Nov 23, 2012 11:31pm
Quoting DarkWolF
GBPCHF Daily:

Was looking for a continuation move on this pair, nothing eventuated and price has now moved back into the range bound area.

If the near term support can reamain breached then we have some obvious support areas below.
Price stalled where expected at the near term support area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP CHF Daily 22-11.jpg Size: 99 KB
Click to Enlarge Name: GBPCHF Daily 23-11.jpg Size: 84 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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