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Price Action and Trading Discussion

  • #3,581
  • Jul 15, 2013 5:23am Jul 15, 2013 5:23am
AUDUSD Hourly:

First trade back took a short on AUDUSD hourly.

This one was all over relatively quickly with the target area being achieved.

Having some problems uploading images to any site at the moment, had this problem last night, got one up on twitter of this trade but couldn't post the second and now cant get any up on here. You can see the entry and target levels on the twitter post though.

https://twitter.com/OzForexTrader/st...17651898269698

Short at .90827 TP at .90580

Think im gonna have to format my good ol' PC get this running nicely again. Might try out a different browser between then and now.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,582
  • Jul 15, 2013 5:35am Jul 15, 2013 5:35am
Downloading google chrome see if this can make a difference
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,583
  • Edited 6:49am Jul 15, 2013 6:15am | Edited 6:49am
AUDUSD hourly images. Managed to get them up via google chrome
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD Hourly 15-07.jpg Size: 188 KB
Click to Enlarge Name: AUDUSD Hourly TP 15-07.jpg Size: 185 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,584
  • Jul 15, 2013 6:50am Jul 15, 2013 6:50am
Quoting DarkWolF
AUDUSD Daily: Took this entry a few days ago at the marked level. Went against me start with, back down to entry area at the moment with a small profit it play. {image}
This position was stopped out for a loss over the last week that I havent been posting.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,585
  • Jul 16, 2013 4:06am Jul 16, 2013 4:06am
Hi Guys,

First look at the charts for the day. Not too much going on.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,586
  • Jul 16, 2013 8:11am Jul 16, 2013 8:11am
EURJPY Hourly:

Hi Guys,

Placed a pending order in on this pair. Order was triggered.

Didn't quite reach my upper target level, but after making the highs of the congested area once and pulling back, I was happy to close this out at that same level when it made it back up there.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY Hourly 16-07.jpg Size: 185 KB
Click to Enlarge Name: EURJPY Hourly 16-07 TP.jpg Size: 188 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,587
  • Jul 22, 2013 7:23am Jul 22, 2013 7:23am
EURGBP Hourly:

Hi Guys,

Well I finally got my PC problems sorted out after formatting and reinstalling, running a bit smoother now. Nothing more frustrating than a completely slow computer.

Hope you had a great weekend.

Have just taken this trade on EURGBP hourly.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Hourly 22-07.jpg Size: 149 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,588
  • Jul 22, 2013 4:32pm Jul 22, 2013 4:32pm
Quoting DarkWolF
EURGBP Hourly: Hi Guys, Well I finally got my PC problems sorted out after formatting and reinstalling, running a bit smoother now. Nothing more frustrating than a completely slow computer. Hope you had a great weekend. Have just taken this trade on EURGBP hourly. {image}
Well this really didn't go anywhere. Decided to close it out. Achieved a very small profit.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP Hourly TP 22-07.jpg Size: 173 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,589
  • Jul 23, 2013 4:37am Jul 23, 2013 4:37am
Hi Guys,

First look at the hourly charts for the session. Not too much going on for me. A couple of potential continuation plays but they are not that strong, see how it goes don't think I will be looking at them.

Will wait and see what takes place over the next few hours.

Will try and get some daily charts up a little later.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,590
  • Jul 23, 2013 4:52am Jul 23, 2013 4:52am
Quoting DarkWolF
Hi Guys, First look at the hourly charts for the session. Not too much going on for me. A couple of potential continuation plays but they are not that strong, see how it goes don't think I will be looking at them. Will wait and see what takes place over the next few hours. Will try and get some daily charts up a little later.

Hello DarkWolf,

What do you think about current GOLD levels ?

Good area to place shorts ?
  • #3,591
  • Jul 23, 2013 4:54am Jul 23, 2013 4:54am
Hi, trading eu/gbp is one thing I have never done If I remember it is due to it not moving much ( I maybe wrong). it is good to see someone actually making sense when they speak trading DW. I have only been trading e/j for a few months mainly inside bars (pure price action) and open range this is price action too but trying to tell some of the gurus this is very hard.and I am trying an ema cross over which is neither here nor there lol and some times I will try e.u. AND us OIL yes indeed the thick black stuff but I have found out it is difficult for me to trade this price actionway, be good guys, interesting thread
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,592
  • Jul 23, 2013 5:10am Jul 23, 2013 5:10am
Quoting Parox
{quote} Hello DarkWolf, What do you think about current GOLD levels ? Good area to place shorts ?
Hi Parox,

Unfortunately I don't follow gold. I only have one MT4 platform that has gold on it but I still haven't re-installed that since formatting my PC on the weekend. I will try and get it put on a little later and check out the chart. What time frame are you looking at gold on ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,593
  • Jul 23, 2013 5:20am Jul 23, 2013 5:20am
Quoting Parox
{quote} Hello DarkWolf, What do you think about current GOLD levels ? Good area to place shorts ?

silver is nice one to trade too, I used to trade silver before oil
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,594
  • Jul 23, 2013 5:22am Jul 23, 2013 5:22am
Quoting billytt
Hi, trading eu/gbp is one thing I have never done If I remember it is due to it not moving much ( I maybe wrong). it is good to see someone actually making sense when they speak trading DW. I have only been trading e/j for a few months mainly inside bars (pure price action) and open range this is price action too but trying to tell some of the gurus this is very hard.and I am trying an ema cross over which is neither here nor there lol and some times I will try e.u. AND us OIL yes indeed the thick black stuff but I have found out it is difficult...
Hi Billytt,

Well price patterns and support and resistance areas on charts will be the same regardless of the chart is the way I see it. Wether its Commodities, FX, Indices or stocks. It can simply be interpreted differently by different traders. Is it easy, certainly not, if it was we would all full time professional traders.

As far as ema cross overs I have been down that path.. numerous times.. Where I do find moving averages have their place in trading and is one of the indicators if any I do sometimes place on a chart, moving average cross overs will tend to be a bit lagging in my experience. I guess that all depends on how you are trading this method. Like I always say.... if you find something that works for you, then absolutely stick to it. I prefer to use moving averages for directional purposes only.

What exactly is open range ? A quick google search brings up open range break out trading. Assuming that would simply be the London open breakout method, trading the break of the Asian session on the London open ?

London open break out trading can be quite good if done right, but unfortunately I am not usually around at the time of the London open during the winter months here Australia. During summer and DST the London open is a little later and I can usually be around for it.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,595
  • Jul 23, 2013 5:35am Jul 23, 2013 5:35am
Quoting DarkWolF
{quote} Hi Billytt, Well price patterns and support and resistance areas on charts will be the same regardless of the chart is the way I see it. Wether its Commodities, FX, Indices or stocks. It can simply be interpreted differently by different traders. Is it easy, certainly not, if it was we would all full time professional traders. As far as ema cross overs I have been down that path.. numerous times.. Where I do find moving averages have their place in trading and is one of the indicators if any I do sometimes place on chart, moving average...
OMG you spoke to me positively. EMA cross over systems I believe will fail most times BUT hands up my girl got me looking at it lol. I am not sure if I would put a lot of money into trading it though, will keep trying it out though .....
Support/resistance levels as you say I agree entirely...
Open range was originally used by stock traders but I along with many other pros trade the uk and us open (I also trade japan open a lot).. even though the markets are open 24/7 the big boys do go home and things do happen when their particular office is shut, so when they do open they react plus ordrs being activated /closed. I trade the 15 min range but I believe 5 min is used too. I will stick a chart in and it might help,
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,596
  • Jul 23, 2013 5:52am Jul 23, 2013 5:52am
I will stick chart in later, it looks like FF has a glitch and my chart will not appear
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,597
  • Jul 23, 2013 5:53am Jul 23, 2013 5:53am
Quoting billytt
{quote} OMG you spoke to me positively. EMA cross over systems I believe will fail most times BUT hands up my girl got me looking at it lol. I am not sure if I would put a lot of money into trading it though, will keep trying it out though ..... Support/resistance levels as you say I agree entirely... Open range was originally used by stock traders but I along with many other pros trade the uk and us open (I also trade japan open a lot).. even though the markets are open 24/7 the big boys do go home and things do happen when their particular office...
I would highly suggest while testing any system/method to use a demo account for some time to forward test before committing real money. Yes the session open times is usually when you get your bursts of movement and can be key times to be watching the charts.

The Asian session can be good to trade the range if you have a method that works that way. Although the range can usually be quite tight so you need to be smart not greedy with TP levels during this trading session.

I used to do a lot of range trading when I traded 5 min charts but don't find the time too much these days to be able to sit and watch the 5 min charts too often.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,598
  • Jul 23, 2013 5:56am Jul 23, 2013 5:56am
Quoting billytt
I will stick chart in later, it looks like FF has a glitch and my chart will not appear
Look forward to seeing a chart.

I had that problem last week before formatting my PC couldn't upload to FF.

I installed google chrome browser and that seemed to help. Back on IE now though with no problems as yet.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,599
  • Jul 23, 2013 6:42am Jul 23, 2013 6:42am
EURUSD Daily

There is a lot of sideways and consolidated price action going on across a lot of the pairs at the moment. It can pay to be a bit cautious in times like these.

EU is no exception with a very clear sideways market that has been playing out for some time now. There are some obvious key areas within this sideways chart to be keeping an eye on.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily 23-07.jpg Size: 199 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,600
  • Jul 23, 2013 6:47am Jul 23, 2013 6:47am
AUDJPY Daily

Quite often we see this price pattern play out as a continuation.

However as with every chart there is no guarantee the pattern will fulfil itself.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Daily.jpg Size: 206 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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