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Price Action and Trading Discussion

  • #3,641
  • Jul 31, 2013 3:36am Jul 31, 2013 3:36am
battle going on with e/u on 4 hour, I have not traded e/u for ages but I am watching the inside bar from when it started yesterday, normally these move well when they do go, just be aware sometime you get the (fakey) as they say but can be traded with care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,642
  • Jul 31, 2013 5:15am Jul 31, 2013 5:15am
Having said what I last posted, I have been looking at 5 minute time frame using usa oil , trading off levels.. these are resistance/support on a small scale and it looks good lol. when I traded 5 min time frame many years ago I wasn't trading oil.(oil is a recent thing for me)
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,643
  • Jul 31, 2013 5:19am Jul 31, 2013 5:19am
Price action trading is the most profitable way of trading according to me because the traders can make huge number of pips when they are trading along the right trend.
  • #3,644
  • Jul 31, 2013 5:23am Jul 31, 2013 5:23am
Quoting Greeneyez
Price action trading is the most profitable way of trading according to me because the traders can make huge number of pips when they are trading along the right trend.
CORRECT, well said ..It is a pity more people do not trade price action. some do without realising it
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,645
  • Jul 31, 2013 5:25am Jul 31, 2013 5:25am
Attached Image (click to enlarge)
Click to Enlarge Name: 3107A.PNG Size: 195 KB

a chart showing us oil on 5 min chart, I have marked levels, these are resistance/support levels on a small time scale. Interesting
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #3,646
  • Aug 1, 2013 4:17am Aug 1, 2013 4:17am
Howdy

Just got in GBPUSD 4H Engulfing bar after finding nice support earlier at 50% fib.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.png Size: 76 KB
  • #3,647
  • Aug 1, 2013 5:53am Aug 1, 2013 5:53am
Quoting Spongebob123
Howdy Just got in GBPUSD 4H Engulfing bar after finding nice support earlier at 50% fib. Cheers {image}
looks good, my be looking for more H4 long opportunities after ECB
  • #3,648
  • Aug 1, 2013 6:19am Aug 1, 2013 6:19am
Quoting Spongebob123
Howdy Just got in GBPUSD 4H Engulfing bar after finding nice support earlier at 50% fib. Cheers {image}
Long Cable again. Expecting 1.54 once again
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 38 KB
  • #3,649
  • Aug 1, 2013 8:01am Aug 1, 2013 8:01am
Hi Guys,

Been away from home the last couple of days and not back until late tomorrow so have no vision of my charting platforms only have my iPad with me.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,650
  • Aug 5, 2013 2:34am Aug 5, 2013 2:34am
Hi Guys,

The start of a new week and back on the charts after a few days out last week.

Hope you had a great weekend.

Time to see what the charts are going to dish up for us this week.

Couple of potentials on the hourly to start with but will just need to see how everything closes after the current bar.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,651
  • Aug 5, 2013 3:03am Aug 5, 2013 3:03am
No bars finished as I would have liked them so no trades for now on hourly charts.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,652
  • Aug 5, 2013 3:25am Aug 5, 2013 3:25am
Quoting Spongebob123
Howdy Just got in GBPUSD 4H Engulfing bar after finding nice support earlier at 50% fib. Cheers {image}
Quoting robertrfx
{quote} Long Cable again. Expecting 1.54 once again {image}
Hi Guys,

Looks like those longs on GBPUSD would have off nicely for you late last week.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,653
  • Aug 5, 2013 3:28am Aug 5, 2013 3:28am
Quoting Greeneyez
Price action trading is the most profitable way of trading according to me because the traders can make huge number of pips when they are trading along the right trend.
Hi Greeneyez,

Trading with price action in the direction of the trend is most certainly a good way to trade.

But always remember to focus on the correct risk management and not so much the amount of pips made.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,654
  • Aug 5, 2013 10:00pm Aug 5, 2013 10:00pm
AUDUSD Hourly:

Hi Guys,

I took this position during yesterdays session but wasn't able to get the pic up. Came back to the charts quite a few hours later to see the position was stopped out giving me a losing trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD Hourly 05-08 pending.jpg Size: 159 KB
Click to Enlarge Name: AUDUSD Hourly 05-08 stopped.jpg Size: 168 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,655
  • Aug 5, 2013 10:05pm Aug 5, 2013 10:05pm
NZDJPY Daily:

I put a pending short order in place on this pair. The position was triggered in.

We seen some gapping on the market open. The gap was closed which happens more often than not and we can now see price moving away again.

Hopefully I can see price push lower during todays sessions.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDJPY Daily 02-08 pending.jpg Size: 184 KB
Click to Enlarge Name: NZDJPY Daily 06-08.jpg Size: 195 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,656
  • Aug 5, 2013 10:38pm Aug 5, 2013 10:38pm
Regarding the AUDUSD going up: RBA rate decision in an hour. Highly expected to drop the rate. Given it's so expected and probably already priced in, it might jump up even if the rate is cut (sell on rumour, buy on fact). Maybe people are buying into position ahead of the news, or covering their shorts.
  • #3,657
  • Aug 5, 2013 10:51pm Aug 5, 2013 10:51pm
Quoting Cujo2
Regarding the AUDUSD going up: RBA rate decision in an hour. Highly expected to drop the rate. Given it's so expected and probably already priced in, it might jump up even if the rate is cut (sell on rumour, buy on fact). Maybe people are buying into position ahead of the news, or covering their shorts.
Hi Cujo,

I would say that in the longer term if they cut rates it is going to cause more short movement. What happens in the short term after the news release is anyones guess.

As I am based in Australia I am hoping they cut

Expected cut is .25 so see how it plays out.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,658
  • Aug 6, 2013 12:12am Aug 6, 2013 12:12am
Quoting Cujo2
Regarding the AUDUSD going up: RBA rate decision in an hour. Highly expected to drop the rate. Given it's so expected and probably already priced in, it might jump up even if the rate is cut (sell on rumour, buy on fact). Maybe people are buying into position ahead of the news, or covering their shorts.
Spot on for your reaction to the news Cujo
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,659
  • Aug 6, 2013 7:26am Aug 6, 2013 7:26am
Hi Guys,

Getting back to the charts a little late today. Had a quick flick through but not too much I can see at the moment. Will wait till the next hourly bar starts and see if anything is catching my eye.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,660
  • Aug 7, 2013 1:50am Aug 7, 2013 1:50am
Quoting DarkWolF
{quote} Spot on for your reaction to the news Cujo
Lol yeah. Turned out pretty good.
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