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Price Action and Trading Discussion

  • #3,821
  • Oct 10, 2013 1:39am Oct 10, 2013 1:39am
EurUsd

PA at mid pivot & h1 supply will determine whether its bullish or bearish, time being I will go will overall bullish trend even though lately the bearish moves were good. If the mid pivot & h1 supply holds further upside then it will be stop & reverse at that point.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EurUsd h4.jpg Size: 128 KB
Click to Enlarge Name: EurUsd h1.jpg Size: 136 KB
Risk / Trade Management is the name of the Game
  • #3,822
  • Oct 10, 2013 2:11am Oct 10, 2013 2:11am
Quoting DarkWolF
{quote} 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. {image} {image}

yep.. m15.. did you see the double top?

confusing daily chart, help.. which one is the bottom(don't know what it's called) of double top - solid blue line or dashed violet. Also, on the gap on h4 chart has been filled and now lurking around the open of the gap.
Question - Where is the bottom of the double top?
Attached Image (click to enlarge)
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A trade should be based on an assumption based on facts
  • #3,823
  • Oct 10, 2013 4:24pm Oct 10, 2013 4:24pm
GbpAud
Attached Image (click to enlarge)
Click to Enlarge Name: GbpAud.jpg Size: 102 KB
Risk / Trade Management is the name of the Game
  • #3,824
  • Oct 11, 2013 2:23am Oct 11, 2013 2:23am
EurAud....same as GbpAud, should watch exposure...Both bouncing of demand, looks good for testing supply. Major trend was bullish but lately formed double top & since then its on range. Lets WnW how things unfold in this.
Attached Image (click to enlarge)
Click to Enlarge Name: EurAud.jpg Size: 112 KB
Risk / Trade Management is the name of the Game
  • #3,825
  • Oct 11, 2013 3:04am Oct 11, 2013 3:04am
Quoting FxSaint
EurUsd PA at mid pivot & h1 supply will determine whether its bullish or bearish, time being I will go will overall bullish trend even though lately the bearish moves were good. If the mid pivot & h1 supply holds further upside then it will be stop & reverse at that point. {image} {image}
price is at that supply level now
  • #3,826
  • Oct 11, 2013 3:32am Oct 11, 2013 3:32am
Quoting david1234
{quote} price is at that supply level now
Closed with profit, no signs of reversal as of yet, but watching it closely.... still have bullish expectation, but closed as there is less conviction on that. Less profit is better than no profit or loss.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.jpg Size: 85 KB
Risk / Trade Management is the name of the Game
  • #3,827
  • Oct 11, 2013 6:20am Oct 11, 2013 6:20am
Quoting FxSaint
EurAud....same as GbpAud, should watch exposure...Both bouncing of demand, looks good for testing supply. Major trend was bullish but lately formed double top & since then its on range. Lets WnW how things unfold in this. {image}
Update

EurAud, has been pick of the trade, it shoot north immediately & quiet well. GbpAud was my favourite among both, but for whatever reason it is lagging as of now. But I m still optimistic about my longs on this pair, & waiting & accumulating orders at same LVL. It will shoot up, when it decides to do so, it will do it real fast. Or if whatever reason it fails then I m still not gonna loose much due to added positions as EurAud positions are already managed well as per plan. Lets wait & watch

PS - scaling-in, accumulating orders, or adding to looser whatever you call it, it should be done when you have lot of conviction for the setup & also it should be done with proper trade management. If you take current trade example, I have accumulated orders on GbpAud but my risk remains same as initial as risk on EurAud has already managed well. GbpAud & EurAud are both positively correlated hence I breakdown the orders for both setup & now when one is already in profit the risk on that has taken off to other pair, hence managing to keep risk as constant & rising the profitability. If I lose here then I will lose only what I had initially planned for but if I win my winner will be more then initial plan.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EurAud.jpg Size: 87 KB
Click to Enlarge Name: GbpAud.jpg Size: 107 KB
Risk / Trade Management is the name of the Game
  • #3,828
  • Oct 11, 2013 8:49am Oct 11, 2013 8:49am
A move on the horizon?
Attached Image(s) (click to enlarge)
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A trade should be based on an assumption based on facts
  • #3,829
  • Oct 11, 2013 11:25am Oct 11, 2013 11:25am
Quoting FxSaint
{quote} Update EurAud, has been pick of the trade, it shoot north immediately & quiet well. GbpAud was my favourite among both, but for whatever reason it is lagging as of now. But I m still optimistic about my longs on this pair, & waiting & accumulating orders at same LVL. It will shoot up, when it decides to do so, it will do it real fast. Or if whatever reason it fails then I m still not gonna loose much due to added positions as EurAud positions are already managed well as per plan. Lets wait & watch PS - scaling-in, accumulating...
Stops hit in GbpAud & Trailing stops hit in EurAud, due to effective management lost only 1.3% (Initial risk alloted was 2%) Irrespective of added lots, loss on trade came below initial risk. Now onto new week & new setups. Have a great weekend fellas.
Risk / Trade Management is the name of the Game
  • #3,830
  • Oct 11, 2013 3:42pm Oct 11, 2013 3:42pm
USDCHF approaching key resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdaily101113dw.png Size: 71 KB

Weekly chart is interesting with that pinbar.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfweekly1011dw.png Size: 71 KB
  • #3,831
  • Edited 6:36pm Oct 11, 2013 5:49pm | Edited 6:36pm
Can't attach image as new login but traded down the GBP/USD today from the under side of trend line started on the 9.7 to the 10.9.

Entered at 5987 set around the London open and traded down to the 5944 based on daily range and fair price set back on Wednesday with the highest volume of the week.
  • #3,832
  • Oct 14, 2013 3:21am Oct 14, 2013 3:21am
Quoting squawk
Can't attach image as new login but traded down the GBP/USD today from the under side of trend line started on the 9.7 to the 10.9. Entered at 5987 set around the London open and traded down to the 5944 based on daily range and fair price set back on Wednesday with the highest volume of the week.
Hi Squawk,

Sounds like a nice trade, good work.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,833
  • Oct 14, 2013 3:23am Oct 14, 2013 3:23am
Quoting Winston Reed
USDCHF approaching key resistance. {image} Weekly chart is interesting with that pinbar. {image}
Hi Winston,

Certainly is, an interesting area to keep an eye on that is for sure.

However price has been slightly consolidated between there and the RN below.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,834
  • Oct 14, 2013 3:28am Oct 14, 2013 3:28am
Quoting Mave
A move on the horizon? {image} {image}
Hi Mave,

That particular pair is not one that I normally look at on my watch lists but just brang it up for a look.

Certainly been a slow mover that is for sure moving mostly sideways.

Not much going for me on that chart really but we could see it slowly edge its way down towards the .8500 area over time.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,835
  • Oct 14, 2013 3:32am Oct 14, 2013 3:32am
Quoting FxSaint
GbpAud {image}
Hi Saint,

My apologies a bit late in replying just catching up on the charts and posts that I missed late last week.

A bit risky playing it against the short term trend but certainly a sound support area. Daily view re enforces the support area view, but not something that I personally would have taken as a trade.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,836
  • Oct 14, 2013 3:39am Oct 14, 2013 3:39am
Just had a quick flick over the 4 hourly charts for the bar that is due to close in the next half hour. Doesnt seem to be too much going on just yet but will have another look as it gets closer to the close of the bar.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,837
  • Oct 15, 2013 4:15am Oct 15, 2013 4:15am
Hi Guys,

First look at the charts for today, not much going on for me just yet.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,838
  • Oct 17, 2013 1:46am Oct 17, 2013 1:46am
Today, after USA budget agreement longs can be expected to be in favour. Is that news already in price? Nobody ever knows.
After watching carefully price action I'll be looking to take a shot trade at a trendline, in 1.3570-1.3580 zone. I will need confirmation before taking that trade.
1.3540 will be first place to take short term long position.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD TradeSeeker 17-10-2013.PNG Size: 41 KB
Price Action + KISS + PIE = Forex-Entourage
  • #3,839
  • Oct 17, 2013 4:16am Oct 17, 2013 4:16am
Quoting pipsane
Today, after USA budget agreement longs can be expected to be in favour. Is that news already in price? Nobody ever knows. After watching carefully price action I'll be looking to take a shot trade at a trendline, in 1.3570-1.3580 zone. I will need confirmation before taking that trade. 1.3540 will be first place to take short term long position. {image}
Hi Pipsane,

Price pushed straight up past the trend line with a strong bullish bar.

Next area to keep an eye on will be if price can return to the 1.3600 ish area. Previous resistance area with the confluence of the RN.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,840
  • Oct 17, 2013 3:15pm Oct 17, 2013 3:15pm
AUDJPY Hourly:

Hi Guys,

Been a while since I had an hourly trade, simply has not been too much grabbing my attention.

Set a pending order on this one, which was triggered.

Target area was hit overnight while sleeping.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY Hourly 17-10 pending.jpg Size: 155 KB
Click to Enlarge Name: AUDJPY Hourly TP 17-10.jpg Size: 159 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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