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Price Action and Trading Discussion

  • #3,981
  • Dec 9, 2013 8:56am Dec 9, 2013 8:56am
Hi there, did you buy or sell? Nothing went wrong yet as it really hasn't done anything yet. Looks like it's trending up slowly right now at 9:54 EST. What is your target?

Quoting inad07
hi folks, i took this trade earlier, EUR/JPY, M5 chart. thought it was the perfect set up, broke the trend line, nice pullback, no news... what went wrong? wrong direction of the main trend? M5 no timeframe for this system? still learning, thx for replys! {image}
SPC * Swollen PocketZ Crew!
  • #3,982
  • Dec 9, 2013 9:43am Dec 9, 2013 9:43am
Quoting JoeNY
Hi there, did you buy or sell? Nothing went wrong yet as it really hasn't done anything yet. Looks like it's trending up slowly right now at 9:54 EST. What is your target? {quote}
i was short with s/l=t/p= 15pips, usually i set my s/l to break even after +10pips.
  • #3,983
  • Dec 9, 2013 10:15am Dec 9, 2013 10:15am
EURJPY is in an uptrend in every time frame. You made a trade against a huge strong upward trend. The probability for success was highly against you. Trade with the trend to increase your probabilities in a trade. So since you are trading off trend lines. A buy order once it started heading back over the trend line was your play for an instrument in an all time frame uptrend.

Now, If it broke sharply down and then came back to retest and then broke sharply again, then you may have been in on the start of a downtrend.



Quoting inad07
{quote} i was short with s/l=t/p= 15pips, usually i set my s/l to break even after +10pips.
SPC * Swollen PocketZ Crew!
  • #3,984
  • Edited Dec 10, 2013 8:52am Dec 9, 2013 12:29pm | Edited Dec 10, 2013 8:52am
Quoting mr su
This last GBPUSD H4 print is downright ugly (if you're long). Still within this larger bull flag and the smaller bull triangle so... the waiting game continues. Added a tiny little scalp short to steal a few pips. {image}
How delicious. Cashed the scalp in and we're back up and out of the flag, proper breakout territory. We've finally cleared 6400 (yay!) but dirty candles continue so I'm going to start easing off exposure from here starting with a few of the more recent Buys and a couple more from the 6300-20 entries. Still have about 20-odd lots exposed but they're sitting pretty finally. Nice dollars in the bag, stops moved up to +60 near the previous swing low and time to go to sleep.
Attached Image (click to enlarge)
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AUDUSD having a tiny little push in our direction suggesting the previously posted IHNS but it's slow going, along with the EURAUD. May have to wait for tomorrow for a better sign.

Couple new setups possibly presenting themselves, I'll post the charts up soon.

GLA

Edit:
I have been made a Commercial Member for putting a link in my user profile. I no longer have regular posting priviliges.

Also lost my PM access so for those with questions & unanswered PMs, feel free to shoot me a message on Skype or artoffx.com chatroom.

Update: locking in +150 AUD, +70 EURAUD, +120 GBP from yesterdays setups.

Thanks for letting me post here while it lasted DarkWolf, good luck and good trading to all.
Teng Su
  • #3,985
  • Dec 9, 2013 1:37pm Dec 9, 2013 1:37pm
took another one, this time long on CAD/JPY
picture shows M10 chart, pullback was one full candle on the M5 chart (which is part of my set up)
result: +20 pips
Attached Image
  • #3,986
  • Dec 9, 2013 8:36pm Dec 9, 2013 8:36pm
hi Mr Su,

very nice analysis, I assume you are living in GMT +8 time zone and you sleep at 3AM of your time?

just a question here and I hope OP does not delete my post. you are both gentlemen who are willing to share.

usually when do you move your SL to breakeven? (or in your case +2 to cover the spread?). I have difficulties trading US afternoon session as I am living in GMT + 8 time zone and I trade 4H charts, so I will miss one of the most important candle at 2AM of my time.

Thank you.

BR,
ZXD
  • #3,987
  • Dec 10, 2013 4:00am Dec 10, 2013 4:00am
Hi Guys,

Just had my first look at the charts for the day. Not too much going on for me on the hourly charts to start with. Was hoping to try and get a trade in today, but patience is the key.

Just checking over the 4 hourly and daily now.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #3,988
  • Dec 10, 2013 6:03am Dec 10, 2013 6:03am
GBP/AUD M15 looked promising, missed it though :/
Attached Image
  • #3,989
  • Dec 11, 2013 7:24am Dec 11, 2013 7:24am
Hi all i love trading pure price action thou i took this trade AUDCHF on monthly time frame base on continuation movement, comment are welcome as am still ready to learn.
Attached Image (click to enlarge)
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where price is at the moment
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  • #3,990
  • Dec 11, 2013 12:53pm Dec 11, 2013 12:53pm
Quoting JoeNY
Hi there, did you buy or sell? Nothing went wrong yet as it really hasn't done anything yet. Looks like it's trending up slowly right now at 9:54 EST. What is your target? {quote}

That is a nice move, I made a few $$ on daily chart and looking for the entry again (see posts#3949 and 3957).
  • #3,991
  • Dec 12, 2013 2:35am Dec 12, 2013 2:35am
CADJPY daily timeframe long trade as the top been breached hope it pay out well.
Comment are welcome.
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  • #3,992
  • Dec 12, 2013 10:11am Dec 12, 2013 10:11am
this is a nice-looking set up

but tricky to enter. if entered 2 days ago, much better

now, if me, i could only go into H1 to look for a retrace to enter long, or even wait a few more days after the price break the historical high, and coming back to retest----and then enter long.

Quoting kebefx
CADJPY daily timeframe long trade as the top been breached hope it pay out well. Comment are welcome. {image}
  • #3,993
  • Dec 12, 2013 12:09pm Dec 12, 2013 12:09pm
Quoting kebefx
CADJPY daily timeframe long trade as the top been breached hope it pay out well. Comment are welcome. {image}
Nice, but I'd wait till price cleared about 97.600. I have pending order at 97.638
  • #3,994
  • Dec 12, 2013 2:26pm Dec 12, 2013 2:26pm
Quoting kebefx
CADJPY daily timeframe long trade as the top been breached hope it pay out well. Comment are welcome. {image}
My tools show slight downtrend and I am going to wait for the rebound from the green zone and move down. The other scenario is breakout-pullback-rebound from the green zone and trend up. This is what I see... So, let's wait for the Price Action

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  • #3,995
  • Dec 12, 2013 2:55pm Dec 12, 2013 2:55pm
A trade I have at the moment. AUD is dropping nicely again this week. Cashed in already on AUDUSD and waiting for that elusive AUDJPY still lol!
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  • #3,996
  • Dec 12, 2013 11:28pm Dec 12, 2013 11:28pm
Thanks for your comments just to update you on the CADJPY still moving in my favour at the moment
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  • #3,997
  • Dec 12, 2013 11:32pm Dec 12, 2013 11:32pm
Also the AUDCHF monthly time frame still moving as plan
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  • #3,998
  • Dec 13, 2013 5:08am Dec 13, 2013 5:08am
Quoting kebefx
Also the AUDCHF monthly time frame still moving as plan {image}
Looks good. I missed a prime opportunity on the daily yesterday, but here's a good re-entry on H1. We should see the wedge break shortly.
Attached Image (click to enlarge)
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  • #3,999
  • Dec 13, 2013 11:56am Dec 13, 2013 11:56am
took these trades yesterday.
first pic: GBP/USD, M15 (+20pips)
second pic: GBP/JPY M15 (+20pips)
comments are welcome.
Attached Images
  • #4,000
  • Dec 13, 2013 12:58pm Dec 13, 2013 12:58pm
Quoting kebefx
Also the AUDCHF monthly time frame still moving as plan {image}
That is the pair I closed early with small profit: made a mistake
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