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Price Action and Trading Discussion

  • #3,801
  • Sep 24, 2013 8:30am Sep 24, 2013 8:30am
Trying to see "tradeable" events based on PA at s/r. This H1 candle engulfed south and although I didn't take it (sleeping) I think this is something I should be looking for. The H4 chart suggests uptrend is breaking down. Anyway good morning to ya and hope your enjoying that 60"!
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  • #3,802
  • Sep 24, 2013 8:41am Sep 24, 2013 8:41am
Quoting Winston Reed
Trying to see "tradeable" events based on PA at s/r. This H1 candle engulfed south and although I didn't take it (sleeping) I think this is something I should be looking for. The H4 chart suggests uptrend is breaking down. Anyway good morning to ya and hope your enjoying that 60"! {image}

see
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Trading in the zone
  • #3,803
  • Sep 24, 2013 5:46pm Sep 24, 2013 5:46pm
Hello DW. Just noting on this chart some points of interest. At each red arrow price dropped at resistance and in retrospect looked like good trades. The yellow rectangles are meant to highlight that there seems to be a good correlation between previous forceful selling and the selling at the red arrows.
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  • #3,804
  • Sep 25, 2013 4:35am Sep 25, 2013 4:35am
Quoting Winston Reed
Hello DW. Just noting on this chart some points of interest. At each red arrow price dropped at resistance and in retrospect looked like good trades. The yellow rectangles are meant to highlight that there seems to be a good correlation between previous forceful selling and the selling at the red arrows. {image}
Hi Winston,

Here are a few of my thoughts on this particular chart.

The RN area is proving to be a good area with price reacting to it.

For me I simply have not seen a good enough bar for me to be taking any positions from it.

Sure that first bar looks good in hindsight, but in a live trading environment, ask yourself what would be a potential reason to NOT take the trade, what is a potential area that price may react to, is there enough room to be giving yourself an opportunity to have a good target, to take profit at, or simply to be able to have a break even in before a potential support / resistance area.

Sure many times it will simply break through and you are left thinking that you missed an opportunity. But what if it didnt, then you are left scratching your head thinking what did I do wrong, the set up was good.

The bar straight after that for me was too late I like to look for the swing areas.

The other bar that holds at that RN area, yes again works out well if you were on it, but for me again a pass I would have liked to have seen it close down slightly stronger.

Put simply I think over the last few months I have taken less trades and become a bit more picky, well I should say a bit more disciplined to my trade plan.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,805
  • Sep 25, 2013 4:43am Sep 25, 2013 4:43am
Quoting DarkWolF
{quote} Hi Winston, Here are a few of my thoughts on this particular chart. The RN area is proving to be a good area with price reacting to it. For me I simply have not seen a good enough bar for me to be taking any positions from it. Sure that first bar looks good in hindsight, but in a live trading environment, ask yourself what would be a potential reason to NOT take the trade, what is a potential area that price may react to, is there enough room to be giving yourself an opportunity to have a good target, to take profit at, or simply to be able...

has a 1.274 fib expasion of a model AB = CD on the leg BC.
1.274 + 61.8 + 78.6. no a little bit small, so I did not draw it
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Trading in the zone
  • #3,806
  • Sep 25, 2013 8:31am Sep 25, 2013 8:31am
Quoting DarkWolF
{quote} Hi Winston, Here are a few of my thoughts on this particular chart. The RN area is proving to be a good area with price reacting to it. For me I simply have not seen a good enough bar for me to be taking any positions from it. Sure that first bar looks good in hindsight, but in a live trading environment, ask yourself what would be a potential reason to NOT take the trade, what is a potential area that price may react to, is there enough room to be giving yourself an opportunity to have a good target, to take profit at, or simply to be able...
Thanks Dark Wolf. Words of wisdom. Building my trading plan and rules and this helps.
  • #3,807
  • Sep 25, 2013 11:51am Sep 25, 2013 11:51am
Demo trade. I like the PA at the .93500. Long on a retracement the previous H4 candle. Looking for partial profit target at .9400 then breakeven and final target at .94427
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  • #3,808
  • Sep 25, 2013 12:59pm Sep 25, 2013 12:59pm
My feeling about this market! I hope you enjoy
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Sandovaljr
  • #3,809
  • Oct 8, 2013 4:30am Oct 8, 2013 4:30am
Hi Guys,

Been a bit absent for the charts last couple of weeks. Hopefully this week can get back to a bit of a normal routine.

Just firing them up now to have a look at whats going on.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,810
  • Oct 8, 2013 4:36am Oct 8, 2013 4:36am
finally found a PA thread.. I'll be spamming this thread with a lot of charts
A trade should be based on an assumption based on facts
  • #3,811
  • Oct 8, 2013 4:48am Oct 8, 2013 4:48am
Quoting Mave
finally found a PA thread.. I'll be spamming this thread with a lot of charts
Hi Mave,

Looking forward to seeing a few of your charts

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,812
  • Oct 8, 2013 6:36am Oct 8, 2013 6:36am
AUDUSD Daily:

Are we going to see a potential trend change on this pair ?
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  • #3,813
  • Oct 8, 2013 6:44am Oct 8, 2013 6:44am
EURJPY Daily:

RN resistance area held price.

Price now stalling at a key area. Now to wait and see if we are going to fall back into the range or will price move forward from the trend line area.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,814
  • Oct 8, 2013 7:48pm Oct 8, 2013 7:48pm
Quoting DarkWolF
Hi Guys, Been a bit absent for the charts last couple of weeks. Hopefully this week can get back to a bit of a normal routine. Just firing them up now to have a look at whats going on.
Nice to have you back DW! Looking forward to your analysis.
  • #3,815
  • Oct 8, 2013 10:55pm Oct 8, 2013 10:55pm
failure for me.. gbp/jpy
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A trade should be based on an assumption based on facts
  • #3,816
  • Oct 9, 2013 7:12am Oct 9, 2013 7:12am
Quoting Mave
failure for me.. gbp/jpy {image}
Hi Mave,

Can I ask what was the trigger for this particular trade and what was the target level etc.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,817
  • Oct 9, 2013 7:16am Oct 9, 2013 7:16am
EURJPY Daily:

Are we going to see the trend line give way by the end of the day ?
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  • #3,818
  • Oct 9, 2013 7:17am Oct 9, 2013 7:17am
Quoting Winston Reed
{quote} Nice to have you back DW! Looking forward to your analysis.
Thanks Winston, hope you have been well and picking up some pips
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,819
  • Oct 9, 2013 7:31am Oct 9, 2013 7:31am
Quoting DarkWolF
{quote} Hi Mave, Can I ask what was the trigger for this particular trade and what was the target level etc.
reactions at the upper trendline + several failed attempts to clear the low of hammer + divergence on rsi .. it did reach the top of the range though..
initial target was the lower trendline but after it developed 155.7
A trade should be based on an assumption based on facts
  • #3,820
  • Oct 9, 2013 6:42pm Oct 9, 2013 6:42pm
Quoting Mave
{quote} reactions at the upper trendline + several failed attempts to clear the low of hammer + divergence on rsi .. it did reach the top of the range though.. initial target was the lower trendline but after it developed 155.7
Just been trying to work out what time frame that was on the chart. Assuming now that it was the m15 time frame ?

Well the lower trend line was certainly reached during the latter part of yesterdays sessions.

Overshot the 155.00 area slightly before holding and now stalling at the resistance area of the previous market consolidation area.
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