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Price Action and Trading Discussion

  • #3,741
  • Sep 2, 2013 6:20am Sep 2, 2013 6:20am
Not too much going on with the hourly charts so just catching up on the daily perspectives.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,742
  • Sep 2, 2013 6:21am Sep 2, 2013 6:21am
EURJPY Daily:

After the large bullish move price is now in a consolidation period. Keep an eye out for the break of this channel.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Daily 02-09.jpg Size: 229 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,743
  • Sep 4, 2013 5:35am Sep 4, 2013 5:35am
Quoting DarkWolF
AUDCHF Daily: We can see on this chart how the channel once broken and retested was a good horizontal area to be watching. With price pulling back we have a potential near term resistance area soon to be reached. {image}
Hi Guys,

A bit of strength showing on the AUD, price sitting a key market level, now to see where to from here. Still quite a while before the end of the daily bar.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF Daily 04-09.jpg Size: 184 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,744
  • Sep 4, 2013 5:39am Sep 4, 2013 5:39am
GBPUSD Daily:

Price holding at a logical area on GBPUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Daily 04-09.jpg Size: 222 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,745
  • Sep 4, 2013 5:47am Sep 4, 2013 5:47am
Long position taken on AUDJPY hourly. Looking for price to hold and push higher from the RN area.

https://twitter.com/OzForexTrader
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,746
  • Sep 4, 2013 4:27pm Sep 4, 2013 4:27pm
Quoting DarkWolF
Long position taken on AUDJPY hourly. Looking for price to hold and push higher from the RN area. https://twitter.com/OzForexTrader
Target achieved.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY Hourly 04-09.jpg Size: 168 KB
Click to Enlarge Name: AUDJPY TP 04-09.jpg Size: 171 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,747
  • Sep 4, 2013 10:53pm Sep 4, 2013 10:53pm
Hey DarkWolf I see that you are very busy now a days you don't post signal on your site.
  • #3,748
  • Sep 5, 2013 6:23am Sep 5, 2013 6:23am
Quoting sachinkumar
Hey DarkWolf I see that you are very busy now a days you don't post signal on your site.
Hi Sachinkumar,

Yes indeed the last month or so I have been quite busy with a few things. I think that should settle down a bit now allowing me a bit more time to be reviewing the charts and get some more posting taking place.

I will try and ramp up my hourly charts on my twitter feed also.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,749
  • Sep 5, 2013 6:31am Sep 5, 2013 6:31am
GBPJPY Daily:

Price approaching a key market area. A good time to be keeping a eye on how it reacts.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Daily 05-09.jpg Size: 213 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,750
  • Sep 5, 2013 6:42am Sep 5, 2013 6:42am
AUDUSD Hourly:

Will be keeping an eye on this area if I am the chart when price gets there.

Daily is at a resistance area though so could pay to be cautious.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD Hourly 05-09.jpg Size: 186 KB
Click to Enlarge Name: AUDUSD Daily 05-09.jpg Size: 179 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,751
  • Sep 5, 2013 6:55am Sep 5, 2013 6:55am
EURJPY Hourly:

Watching to see if something can unfold for a long position. Price is breaking up making higher highs. Now to wait and see what price has to offer from the horizontal areas.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Hourly 05-09.jpg Size: 174 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,752
  • Sep 5, 2013 7:00am Sep 5, 2013 7:00am
AUDJPY Hourly:

Consolidation period. Patience required during this time. Let price show the way of what it wants to do.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Hourly 05-09.jpg Size: 168 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,753
  • Sep 5, 2013 7:55am Sep 5, 2013 7:55am
Some nice sharp moves on the EUR crosses on the back a news release.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,754
  • Sep 5, 2013 8:06am Sep 5, 2013 8:06am
EURJPY Hourly:

This is how quickly the view of the chart can change.

Where it was potential for a long position now it is sit and wait some more.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Hourly1 05-09.jpg Size: 174 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,755
  • Sep 5, 2013 8:46am Sep 5, 2013 8:46am
yep euro seems to be in trouble across the board.
  • #3,756
  • Sep 6, 2013 8:12am Sep 6, 2013 8:12am
Hi everyone,

Did anyone happen to be SL - 20 pips & the system closed at SL - 70 pips for USDJPY ?
Today I have this problem on my trade.

I am new to forex. Anyone can share ?
  • #3,757
  • Sep 6, 2013 7:42pm Sep 6, 2013 7:42pm
Quoting tohalan
Hi everyone, Did anyone happen to be SL - 20 pips & the system closed at SL - 70 pips for USDJPY ? Today I have this problem on my trade. I am new to forex. Anyone can share ?
Hi Tohalan,

I did not trade the session yesterday, NFP day I usually take the day off from the charts.

I can not see any reason as to why that would have happened on the chart though it does not appear to have gapped at all, but then again different brokers have different feeds etc so that may depend on the broker that you are with.

If you have a major concern with it, contact the broker for some clarification, it could simply be a problem with their feed.

I hope you get it sorted.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,758
  • Sep 9, 2013 7:10am Sep 9, 2013 7:10am
Hey DarkWolf, i was going through threads and was looking for some kind of tool to confirm my entries, when i stumble into your thread. It made me lol, because i trade the same way. Completely the same way. Or it seems that way ) Anyway, i was thinking what do you base your entries on.

Because i don't know how to determine whether the trade is good or bad, if the support/resistance will hold or not.

For example, today's Aussie and Kiwi trades.

Both seem like it went lower and go up to retest the support now turned into resistance. I have Kiwi 1h chart where i draw what i expected.

Would like to hear your opinion.

By the way, as i understand you don't really use any indicator which would show if the support/resistance will hold or not?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013.09.09 Aussie 1h short.jpg Size: 295 KB
Click to Enlarge Name: 2013.09.09 Kiwi 1h short.jpg Size: 282 KB
Click to Enlarge Name: 2013.09.09 Kiwi 4h short.jpg Size: 318 KB
Trololololo
  • #3,759
  • Sep 9, 2013 9:34am Sep 9, 2013 9:34am
Quoting Libertas_Ltu
Hey DarkWolf, i was going through threads and was looking for some kind of tool to confirm my entries, when i stumble into your thread. It made me lol, because i trade the same way. Completely the same way. Or it seems that way ) Anyway, i was thinking what do you base your entries on. Because i don't know how to determine whether the trade is good or bad, if the support/resistance will hold or not. For example, today's Aussie and Kiwi trades. Both seem like it went lower and go up to retest the support now turned into resistance. I have Kiwi...
Hi Libertas,

Great to see you stumbled across the thread at the very least

As with all things trading, nothing is for certain. Will support or resistance hold, maybe yes, maybe no. One will never know for certain. All we can do is trade our plan.

I simply look for what I believe are key support and resistance areas and then look for a reason to trade from them, or sometimes a reason to not trade from them.

I think you will find also from a lot my charts that I also use the support and resistance areas for TP levels, potentially some of those charts of yours I would have already taken profit.

The one thing I have found that can be the absolute killer with trading is GREED.......

Ask yourself how many times have you attempted to hold on for a larger move, or for the next level only to see price come back and take you out for break even, or worse, move against you and take out your stop.

This is why I now look for a good market level to target, and have the discipline to get out at my target, a lot of times slightly before the target if I am at the screens. Sure it may break through the target level and move on bigger and better things, but what if it didnt .......

Some nice charts

Plan the trade..... Trade the plan......
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,760
  • Sep 9, 2013 11:22am Sep 9, 2013 11:22am
good topic.
I uploaded the image to see prices reach potential reversal zone and price action shows no trend continue.
AB=CD - GBPJPY 30min and 5min
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy 30min.PNG Size: 86 KB
Click to Enlarge Name: gbpjpy 5min.PNG Size: 94 KB
Trading in the zone
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