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Price Action and Trading Discussion

  • #4,021
  • Dec 16, 2013 6:37am Dec 16, 2013 6:37am
That's a great idea....

Quoting jen101
{quote} But we can still play on demo to feed our addiction .
SPC * Swollen PocketZ Crew!
  • #4,022
  • Dec 16, 2013 6:37am Dec 16, 2013 6:37am
Quoting jen101
A question for you guys, when do you close up shop for Christmas? I should imagine volume would be pretty thin next week.

I usually stop the week of Christmas, however last year I traded through Christmas and I made quite a bit, in fact December was one of my most profitable months. This year I'll keep an eye on things and see.
  • #4,023
  • Edited 7:26am Dec 16, 2013 6:45am | Edited 7:26am
I had similar trades last night (I'm EST) on USDJPY and AUDJPY. Closed out for profit before they bounced. The bounce you see is what I believe price being in the lower end of the spectrum so to speak. High Low Close Pivots Price Action blah blah...

144.800 will be interesting on GBPCHF. It's up or down hard at that level... Serious price action area....

No one can predict the future.... without a tip off that is...

Quoting DarkWolF
GBPCHF Hourly: Hi Guys, Took a short on this pair. Put a break even to protect the position. With price getting this close the target area I would normally close it out, but didn't this time. Currently price has bounced away from that area, will leave the break even in play and see how it goes. {image} {image}
SPC * Swollen PocketZ Crew!
  • #4,024
  • Dec 16, 2013 8:04am Dec 16, 2013 8:04am
Some say they know when to trade and not, remember, when the road is quiet is when some prefer to drive same principle apply to fx market as long as your trade management is maintain i have no fear to trade any time. For me if there is no setup there is no trade. Example, this EURAUD daily time frame this matched my type of trade and pending order in place.
Attached Image (click to enlarge)
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  • #4,025
  • Dec 16, 2013 8:06am Dec 16, 2013 8:06am
Quoting DarkWolF
GBPCHF Hourly: Hi Guys, Took a short on this pair. Put a break even to protect the position. With price getting this close the target area I would normally close it out, but didn't this time. Currently price has bounced away from that area, will leave the break even in play and see how it goes. {image} {image}
Traded on the bounce . Ambitious target I know, but I will be moving the stop along the way.
Attached Image(s) (click to enlarge)
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  • #4,026
  • Dec 16, 2013 8:19am Dec 16, 2013 8:19am
Good trade just keep an eye on the 1.45 area if it gets past 144.800. There were a ton of sell orders there as well. There could be more but if no more, this thing will rocket.

Quoting jen101
{quote} Traded on the bounce . Ambitious target I know, but I will be moving the stop along the way. {image} {image}
SPC * Swollen PocketZ Crew!
  • #4,027
  • Edited 9:52am Dec 16, 2013 8:40am | Edited 9:52am
Quoting jen101
{quote} Bottled out of this at +4 pips. Not sure about it.
got in at 167.96, because in addition to the set up in the H4 chart (red line) the M15 chart showed a good set up as well (yellow line).

closed half of it for +40 pips, other half still in... (edit: closed it for +2 pips)

(pic: GBP/JPY, M15)
Attached Image
  • #4,028
  • Dec 17, 2013 3:20am Dec 17, 2013 3:20am
Quoting DarkWolF
GBPCHF Hourly: Hi Guys, Took a short on this pair. Put a break even to protect the position. With price getting this close the target area I would normally close it out, but didn't this time. Currently price has bounced away from that area, will leave the break even in play and see how it goes. {image} {image}
BE was hit on the position.

Not ideal but we move on.

A 4 hourly chart view shows my target level was pretty much spot on, and if I had manually closed it right on the level rather than waiting for price to cross over it to close out automatically it was pretty much right on the mark.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPCHF Hourly BE.jpg Size: 151 KB
Click to Enlarge Name: GBPCHF 4 Hourly 16-12.jpg Size: 168 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,029
  • Dec 17, 2013 3:24am Dec 17, 2013 3:24am
EURCAD Hourly:

Short position taken, target achieved shortly after.

Did not make the same mistake as yesterdays position and made sure it was closed out for profit.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURCAD Hourly 17-12 TP.jpg Size: 174 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,030
  • Dec 17, 2013 6:43am Dec 17, 2013 6:43am
Hey,

What about this trade?
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Trololololo
  • #4,031
  • Dec 17, 2013 7:15am Dec 17, 2013 7:15am
Quoting Libertas_Ltu
Hey, What about this trade? {image} {image}
Well, there seems to be a lot of congestion around the 23.6fib on the daily and the trend is certainly up.... Also there was a bearish engulfing candle a couple of days ago but nothing much happened, which also indicates strong uptrend.
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  • #4,032
  • Dec 17, 2013 7:24am Dec 17, 2013 7:24am
Quoting DarkWolF
{quote} BE was hit on the position. Not ideal but we move on. A 4 hourly chart view shows my target level was pretty much spot on, and if I had manually closed it right on the level rather than waiting for price to cross over it to close out automatically it was pretty much right on the mark. {image} {image}
DarkWolf, GBPCHF is acting quite neurotically. I am currently -18 pips on the daily (post 4025) and I have a sell order on H4, just in case!
  • #4,033
  • Dec 17, 2013 7:25am Dec 17, 2013 7:25am
Quoting jen101
{quote} Well, there seems to be a lot of congestion around the 23.6fib on the daily and the trend is certainly up.... Also there was a bearish engulfing candle a couple of days ago but nothing much happened, which also indicates strong uptrend. {image}
Thanks for pointing out fib level and TL. Missed that ^^
Trololololo
  • #4,034
  • Dec 17, 2013 7:51am Dec 17, 2013 7:51am
I think the best position this week and until after new years is on the sidelines. Price is acting bizarre. You said it Jen about low liquidity. The one minute charts are giving me that impression. Spotty spaced out trades

Quoting jen101
{quote} DarkWolf, GBPCHF is acting quite neurotically. I am currently -18 pips on the daily (post 4025) and I have a sell order on H4, just in case!
SPC * Swollen PocketZ Crew!
  • #4,035
  • Dec 17, 2013 8:08am Dec 17, 2013 8:08am
I will be closing this AUDCHF monthly time frame trade now for + 240 pips
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  • #4,036
  • Dec 17, 2013 8:13am Dec 17, 2013 8:13am
Quoting JoeNY
I think the best position this week and until after new years is on the sidelines. Price is acting bizarre. You said it Jen about low liquidity. The one minute charts are giving me that impression. Spotty spaced out trades {quote}
Like I also said no real money at stake this week, only ego . Nicely positive though, so far.

kebefx, good trade! I don't really look at the monthly, maybe I should.
  • #4,037
  • Dec 17, 2013 8:59am Dec 17, 2013 8:59am
I have been going on the past week or so about AUDJPY going down. Looks like I've finally got my trade. There will be more for this pair.
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  • #4,038
  • Dec 17, 2013 9:26am Dec 17, 2013 9:26am
Quoting jen101
I have been going on the past week or so about AUDJPY going down. Looks like I've finally got my trade. There will be more for this pair. {image}
I am on it as well, it is good trade!

Attached Image (click to enlarge)
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  • #4,039
  • Dec 17, 2013 9:33am Dec 17, 2013 9:33am
AUD/CHF looks promising, it has no support to stop the movement.

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  • #4,040
  • Dec 17, 2013 9:57am Dec 17, 2013 9:57am
Quoting vitall
AUD/CHF looks promising, it has no support to stop the movement. {image}
Not until you zoom out onto the monthly. The whole area price is entering is a demand zone. I think it's 2 weeks late. I missed it too .
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