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Price Action and Trading Discussion

  • #3,141
  • Mar 22, 2013 8:00am Mar 22, 2013 8:00am
Quoting jibjib210
hey guys so my comp got refomatted lost all my charts and templates. been slowly making my charts over again this week.

Took eur/cad long yesterday doing okay so far +50 moved it to BE not too confident about that trade will post chart soon
Hi Jib,

Ya that can be the annoying part about formatting your PC is the re installation of all the programs, charting software and then setting up all your charts and templates again.

I recently had all my platforms reset for no apparent reason which was annoying, I usually keep my watchlists within the symbol sets and keep that backed up, that way you can easily arrange your watchlists.

I think it was Tiwa who recently told me about profiles also of which I was unaware of. These work an absolute treat. If you back up the profile and when re installing a platform simply put the profile back in the correct folder it brings up that last platform set up. Saves a lot of time and effort setting it all up again.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,142
  • Mar 22, 2013 8:12am Mar 22, 2013 8:12am
Quoting jibjib210

Took eur/cad long yesterday doing okay so far +50 moved it to BE not too confident about that trade will post chart soon
BE in, so risk free trade its all good from here whichever way it goes
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,143
  • Mar 22, 2013 10:21am Mar 22, 2013 10:21am
Results of trading with ichimoku indicator on 2013.03.21 15:21
sell
gbpusd
Open 1.51581
S/L 1.51805
T/P 1.51165
Close 2013.03.21 15:361.51467
Result:+ 11 pips.
  • #3,144
  • Mar 22, 2013 10:27am Mar 22, 2013 10:27am
My results of trading
usdcad 2013.03.21 17:58
sell
Start at the level1.02404
Order closed at1.025152013.03.21 18:55
Results of trading:-10.83
  • #3,145
  • Mar 22, 2013 10:36am Mar 22, 2013 10:36am
Results of trading on 2013.03.21 18:26
sell0.10
Pair: nzdusd
Order started 0.83215
Order closed 2013.03.21 19:270.83244
Manual checking without S/L and T/P
Result-2.90
  • #3,146
  • Mar 22, 2013 10:40am Mar 22, 2013 10:40am
Trading results on 2013.03.21 with pair usdjpy
start 18:42
buy
start point 95.146
S/L 94.875
close 2013.03.21 19:2894.910
Results.-24.87
  • #3,147
  • Mar 22, 2013 12:04pm Mar 22, 2013 12:04pm
Hi all i have been away from my pc for long time time today but i took this trade earlier on one hour i just close it
GBPUSD 1hour time frame and that is it for this week have a wonderful weekend
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1 22 03 2013long trader.png Size: 50 KB




http://www.tenkebeforexsignal.com/
  • #3,148
  • Mar 22, 2013 5:11pm Mar 22, 2013 5:11pm
Quoting funtik
Trading results on 2013.03.21 with pair usdjpy
start 18:42
buy
start point 95.146
S/L 94.875
close 2013.03.21 19:28 94.910
Results. -24.87
Hi Funtik,

Maybe some charts of your trades also ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,149
  • Mar 24, 2013 9:17am Mar 24, 2013 9:17am
Hi all, I trade off horizontal S&R hourly levels on the 5m, very simple stuff.

This was last Fridays EU. I'd been trading the range and thought I'd get another short in before the break, I was wrong and got stopped.

The market structure looked like it was changing from range to trend so I tried to trade pullbacks in the direction of the new momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: EU 24032013.jpg Size: 97 KB


This is pretty much what I do, identify major hourly levels then look to refine entries on the 5m with proper MM.

.....anyway great thread, hope I can post some more going into next week, should be a good one.

Alex.
  • #3,150
  • Mar 24, 2013 11:25am Mar 24, 2013 11:25am
Hi Alex, even though the short didn't work, the longs did. Good trading day for you. How long have you been trading your strategy? How do you decide whether to go long or short? I use support and resistance also as the fundamental starting point of trading and use a higher timeframe chart to determine whether to short or go long as well as what is to the left on the chart - bit like the green cross code ... except look left, look left & look left again and if all clear ....
  • #3,151
  • Mar 24, 2013 1:37pm Mar 24, 2013 1:37pm
Quoting gillh1
Hi Alex, even though the short didn't work, the longs did. Good trading day for you. How long have you been trading your strategy? How do you decide whether to go long or short? I use support and resistance also as the fundamental starting point of trading and use a higher timeframe chart to determine whether to short or go long as well as what is to the left on the chart - bit like the green cross code ... except look left, look left & look left again and if all clear ....
Hi,

trading like this about a year.

The decision (long/short) is based on my hourly levels, where price has come from, momentum, previous reaction and PA (pins mainly).

Sometimes I miss, sometimes I get chopped and sometimes I catch the wave.

What is it you're looking for on the HTF charts that determines your direction?
  • #3,152
  • Mar 24, 2013 3:51pm Mar 24, 2013 3:51pm
Just to elaborate a bit on what sort of structure I'm looking for here's the hourly and 5min EURCHF from the beginning of the week.

Attached Image (click to enlarge)
Click to Enlarge Name: EC 24032013.jpg Size: 107 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EC 5M 24032013.jpg Size: 122 KB
  • #3,153
  • Mar 25, 2013 3:56am Mar 25, 2013 3:56am
Quoting FX Alex
Hi all, I trade off horizontal S&R hourly levels on the 5m, very simple stuff.

This was last Fridays EU. I'd been trading the range and thought I'd get another short in before the break, I was wrong and got stopped.

The market structure looked like it was changing from range to trend so I tried to trade pullbacks in the direction of the new momentum.

Attachment

This is pretty much what I do, identify major hourly levels then look to refine entries on the 5m with proper MM.

.....anyway great thread, hope I can post some...
Hi Alex,

Well I must say nice clean charts and good work on the horizontal support and resistance trading with the 5min charts.

I used to trade a lot from the 5min charts using pretty much the same method of hourly levels then move down to a 5 min entry and exit. I dont trade too much on the 5 min charts anymore mainly due to time constraints and a desire to spend less time monitoring the charts but I do like trading from them.

Good work on the trades and I look forward to seeing some more of your charts.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,154
  • Mar 25, 2013 4:47am Mar 25, 2013 4:47am
USDCAD Hourly:

Took a short postion on this one looking for price to move to just above the next RN area, confluence of the previous lows making a good target area.

This one worked out pretty straight forward with the target area being achieved relatively quickly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCAD hourly 25-03.jpg Size: 189 KB
Click to Enlarge Name: USDCAD Hourly TP 25-03.jpg Size: 168 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,155
  • Mar 25, 2013 4:53am Mar 25, 2013 4:53am
AUDUSD Hourly:

I took this position long on this pair also, but just closed it out for a small 1 pip profit as I simply wasnt feeling too comfortable with it after taking it, so would rather simply close it than not feel comfortable with the position.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Hourly 25-03.jpg Size: 154 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,156
  • Mar 25, 2013 5:05am Mar 25, 2013 5:05am
EURUSD Hourly:

I had this one marked up for a long postion away from the RN area, but did not take this one as already had th USDCAD open and the AUDUSD. I dont like to have too many open at once unless there is a BE in place or some profit locked in.

It's always good to see how the potential positons play out though. Can see how price is now stalling at the bottom end of the small area of congetstion though.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Hourly.jpg Size: 218 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,157
  • Mar 25, 2013 5:14am Mar 25, 2013 5:14am
Quoting DarkWolF
EURUSD Hourly:

I had this one marked up for a long postion away from the RN area, but did not take this one as already had th USDCAD open and the AUDUSD. I dont like to have too many open at once unless there is a BE in place or some profit locked in.

It's always good to see how the potential positons play out though. Can see how price is now stalling at the bottom end of the small area of congetstion though.
I took this one on 30 minutes time frame and i closed it out with 12 pips cus i wasn't comfortable
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd long trade 25 03 2013.gif Size: 22 KB
  • #3,158
  • Mar 25, 2013 5:17am Mar 25, 2013 5:17am
Quoting Tiwa
I took this one on 30 minutes time frame and i closed it out with 12 pips cus i wasn't comfortable
Attachment
Still some pips banked though
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,159
  • Mar 25, 2013 5:26am Mar 25, 2013 5:26am
Quoting DarkWolF
Still some pips banked though
Yes is better than nothing money management is more important than entry a trade as far as am concern
  • #3,160
  • Mar 25, 2013 5:36am Mar 25, 2013 5:36am
Quoting Tiwa
Yes is better than nothing money management is more important than entry a trade as far as am concern
Yes indeed it most certainly is. In my opinion it is probably the most important aspect to trading.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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