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Price Action and Trading Discussion

  • #3,061
  • Edited 9:56am Mar 12, 2013 3:23am | Edited 9:56am
Quoting haimber
beware that its a counter trend in a strong weekly trend.
I dont have to wait for too long am not greedy since i know this type of set up is mustly to give me two candles and with 70 pips am out i dont have anything to worry about you just have to look for the most obvious one and i always look for them on longer time frame.
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Click to Enlarge Name: cadjpy 12 03 2013 short trade 4hour update.gif Size: 19 KB


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  • #3,062
  • Mar 12, 2013 3:38am Mar 12, 2013 3:38am
Quoting haimber
beware that its a counter trend in a strong weekly trend.
Quoting Tiwa
I dont have to wait for too long am not greedy since i know this type of set up is mustly to give me two candles and with 70 pips am out i dont have anything to worry about you just have to look for the most obvious one and i always look for them on longer time frame.
Attachment
Hi Guys,

I can see the reasoning behind both in this case. And yes it does pay to be a bit cautious when doing counter trend trades.

Price stalled pretty much right on the 93.000 RN area.
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  • #3,063
  • Mar 12, 2013 3:40am Mar 12, 2013 3:40am
What is your target area Tiwa ?
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  • #3,064
  • Mar 12, 2013 3:46am Mar 12, 2013 3:46am
Quoting Tiwa
I dont have to wait for too long am not greedy since i know this type of set up is mustly to give me two candles and with 70 pips am out i dont have anything to worry about you just have to look for the most obvious one and i always look for them on longer time frame.
Attachment



Trust in what you believed
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i can see the logic behind your setup. you took it from a weekly resistence. i usually prefer to wait for setup that suit the main direction in the daily & weekly.
trading is not an addiction. it's a profession.
  • #3,065
  • Edited 3:57am Mar 12, 2013 3:46am | Edited 3:57am
Quoting DarkWolF
What is your target area Tiwa ?
As said this usually give two candles @ 70 pips am out because it was so fast so i dont need to wait too long.
post 3,061

Trust in what you believed
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  • #3,066
  • Mar 12, 2013 4:11am Mar 12, 2013 4:11am
Quoting Tiwa
As said this usually give two candles @ 70 pips am out because it was so fast so i dont need to wait too long.
post 3,061
Oh....

I thought you meant you were getting out at 70 pips, not that you were already out.

Nice trade then from a resistance area even though it was a counter trend.
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  • #3,067
  • Mar 12, 2013 4:24am Mar 12, 2013 4:24am
Quoting DarkWolF
EURAUD Hourly:

Took a short on this one, target at the red line area below.
Slow going on this one so far.
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  • #3,068
  • Mar 12, 2013 6:23am Mar 12, 2013 6:23am
aud/nzd closed -30 pips
  • #3,069
  • Mar 12, 2013 9:44am Mar 12, 2013 9:44am
Took this double top.
Though possible support below but I like double tops/bottoms.
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Thoughts are things
  • #3,070
  • Mar 12, 2013 12:33pm Mar 12, 2013 12:33pm
Quoting DarkWolF
EURAUD Hourly:

Took a short on this one, target at the red line area below.
The target area was reached but price did not cross far enough to close out automatically with TP order in the market. As I was not around to close this out I have woken up to see it retrace back up away from that level. I closed it out with a small profit.
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Click to Enlarge Name: EURAUD 12-03 TP.jpg Size: 161 KB
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  • #3,071
  • Mar 12, 2013 12:35pm Mar 12, 2013 12:35pm
Quoting DarkWolF
USDCAD Hourly:

Keeping an eye on this general area to see what eventuates.
Took an entry on this one, price reached my target area overnight which was good to see.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCAD hourly 12-03 entry.jpg Size: 189 KB
Click to Enlarge Name: USDCAD Hourly 12-03 TP.jpg Size: 189 KB
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  • #3,072
  • Mar 12, 2013 2:09pm Mar 12, 2013 2:09pm
Quoting DarkWolF
Took an entry on this one, price reached my target area overnight which was good to see.
Great work




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  • #3,073
  • Mar 13, 2013 3:13am Mar 13, 2013 3:13am
What do you guys think of this EURAUD daily time frame
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Click to Enlarge Name: euraud daily short setup 13 03 2013.gif Size: 25 KB


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  • #3,074
  • Mar 13, 2013 3:36am Mar 13, 2013 3:36am
Quoting Tiwa
What do you guys think of this EURAUD daily time frame
Attachment
Hi Tiwa,

Ya I was eyeing that one off yesterday, but I dont think I will be taking a position on that one. It is looking good for a move to the next RN area though.
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  • #3,075
  • Mar 13, 2013 3:37am Mar 13, 2013 3:37am
Quoting Quezoy
Took this double top.
Though possible support below but I like double tops/bottoms.
Hi Quezoy,

Managing to stay below that 1.06000 area so far.
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  • #3,076
  • Mar 13, 2013 3:41am Mar 13, 2013 3:41am
EURAUD Hourly:

Having another crack at this one on the hourly time frame though, after price just touching my target area yesterday on a similar trade on the same pair, but not enough to close out my market order and as I wasnt around to close it out manually missed the pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD Hourly 13-03.jpg Size: 153 KB
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  • #3,077
  • Mar 13, 2013 3:46am Mar 13, 2013 3:46am
GBPJPY Hourly:

Was looking for a potential short on this pair, but nothing eventuated as I was looking for it to, instead price heading the opposite direction.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Hourly 13-03.jpg Size: 187 KB
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  • #3,078
  • Mar 13, 2013 4:26am Mar 13, 2013 4:26am
Quoting DarkWolF
EURAUD Hourly:

Having another crack at this one on the hourly time frame though, after price just touching my target area yesterday on a similar trade on the same pair, but not enough to close out my market order and as I wasnt around to close it out manually missed the pips.
Closed out manually as price touched the target area.
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Click to Enlarge Name: EURAUD TP 13-03.jpg Size: 165 KB
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  • #3,079
  • Mar 13, 2013 4:27am Mar 13, 2013 4:27am
EURAUD WEEKLY

i'm staying aside with this one till we have a clear picture.
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  • #3,080
  • Mar 13, 2013 4:28am Mar 13, 2013 4:28am
I took long on usdchf 4hour time frame let see how it will pay out

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