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Price Action and Trading Discussion

  • #4,081
  • Edited 5:10am Jan 6, 2014 12:00am | Edited 5:10am
Hi Guys,

Well I hope that you all have had a great festive break, with a good Christmas and fun New Year.

After a couple of weeks away from the charts during the xmas and new year period this will be my first day back looking at the charts.

I have only just fired them up for the day to see what is going on.

However, I would still think that the markets may remain a little quiet over the next week.

If you had continued trading during the xmas break then I hope that you picked up some good trades.

A new year, a new week. Let's see what presents itself.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,082
  • Jan 6, 2014 5:59am Jan 6, 2014 5:59am
Happy New Year to all!

First trade of the week; nearly there By the way, trading over the Christmas and New Year period is a bad idea - confirmed. I had knew it but had to test it.
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  • #4,083
  • Edited 6:19am Jan 6, 2014 6:05am | Edited 6:19am
EU long @ 1.3605, 50% fib on the daily charts and fresh support around the whole number.

Entered right around Decembers monthly bullish bar open. We should see a decent move back up from here... in an ideal world.
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  • #4,084
  • Jan 6, 2014 6:46am Jan 6, 2014 6:46am
Quoting jen101
Happy New Year to all! First trade of the week; nearly there By the way, trading over the Christmas and New Year period is a bad idea - confirmed. I had knew it but had to test it. {image}
Kerching-ed

Here's another.
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  • #4,085
  • Jan 6, 2014 7:18am Jan 6, 2014 7:18am
Quoting jen101
Happy New Year to all! First trade of the week; nearly there By the way, trading over the Christmas and New Year period is a bad idea - confirmed. I had knew it but had to test it. {image}
Quoting jen101
{quote} Kerching-ed Here's another. {image}
Hi Jen,

Couple of nice positions there for you.

Yes it can be a bit like that at Christmas. I tend to shut down shop for a couple of weeks, get away from the charts, spend some family time and come back early in the new year.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,086
  • Jan 6, 2014 7:21am Jan 6, 2014 7:21am
Quoting GDR3k
EU long @ 1.3605, 50% fib on the daily charts and fresh support around the whole number. Entered right around Decembers monthly bullish bar open. We should see a decent move back up from here... in an ideal world. {image} {image}
Hi GDR,

Is that a 1m chart that you are trading on for that position ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,087
  • Jan 6, 2014 7:24am Jan 6, 2014 7:24am
AUDNZD Hourly:

This was the position that I took for the session. Had my eye on 4 different pairs but decided on this one, however just flicked and checked out the others I had marked, none of them would have been triggered and if they were they all would have been a loss, so I probably got lucky going for this pair.

Had a pending order placed that was triggered on this one.

Was a little undecided on the final target level, in the end I walked away from it and let it play out and the main target area was achieved.
Attached Image(s) (click to enlarge)
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,088
  • Jan 6, 2014 7:27am Jan 6, 2014 7:27am
Quoting jen101
{quote} Kerching-ed Here's another. {image}
Oh dear. BE hit. It was bouncing around anyway, not really going very far.

Quoting DarkWolF
{quote} {quote} Hi Jen, Couple of nice positions there for you. Yes it can be a bit like that at Christmas. I tend to shut down shop for a couple of weeks, get away from the charts, spend some family time and come back early in the new year.
That's the way to do it .
  • #4,089
  • Jan 6, 2014 7:32am Jan 6, 2014 7:32am
Look at that nice level on the daily though. I still think it may come in, but I've missed my chance.
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  • #4,090
  • Jan 6, 2014 7:42am Jan 6, 2014 7:42am
Quoting DarkWolF
{quote} Hi GDR, Is that a 1m chart that you are trading on for that position ?
I got the position off the daily chart but coincidentally my entry lines up with an area I'd of gone long @ on the monthly charts.
  • #4,091
  • Jan 6, 2014 7:48am Jan 6, 2014 7:48am
Quoting jen101
Look at that nice level on the daily though. I still think it may come in, but I've missed my chance. {image}
Good level on the chart, but for me personally, there is no reason on these charts as to why I would take an entry.

But that is simply my trade plan. If it fits your plan then it is all good.

Plan your trade..... Trade your plan....
Attached Image(s) (click to enlarge)
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,092
  • Jan 6, 2014 7:54am Jan 6, 2014 7:54am
Quoting jen101
Look at that nice level on the daily though. I still think it may come in, but I've missed my chance. {image}
Little bit of market congestion on the 4 hourly, these areas can pay to be a little cautious of.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,093
  • Jan 6, 2014 8:21am Jan 6, 2014 8:21am
Quoting DarkWolF
{quote} Little bit of market congestion on the 4 hourly, these areas can pay to be a little cautious of.
Yes, that's why I got out with BE
  • #4,094
  • Jan 6, 2014 6:36pm Jan 6, 2014 6:36pm
Hi Guys,

Just done a review of my daily charts. Plenty of key areas at the moment on the charts being tested but nothing that is really enticing me for a trade entry.

I will try and get some daily charts up a little later in the day.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,095
  • Jan 7, 2014 3:33am Jan 7, 2014 3:33am
AUDNZD Hourly:

Hi Guys,

A short entry taken on AUDNZD.

Now to see how it plays out.
Attached Image (click to enlarge)
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  • #4,096
  • Jan 7, 2014 3:45am Jan 7, 2014 3:45am
Quoting DarkWolF
AUDNZD Hourly: Hi Guys, A short entry taken on AUDNZD. Now to see how it plays out. {image}
Big support area coming up....

Nothing for me today I think. Exhausted it all yesterday, was a good day.
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  • #4,097
  • Jan 7, 2014 3:52am Jan 7, 2014 3:52am
Quoting jen101
{quote} Big support area coming up.... {image}
Indeed. My TP area is right before that support level
Attached Image (click to enlarge)
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  • #4,098
  • Jan 7, 2014 5:01am Jan 7, 2014 5:01am
Quoting DarkWolF
AUDNZD Hourly: Hi Guys, A short entry taken on AUDNZD. Now to see how it plays out. {image}
Close enough. Took the profit on this one a touch before the line, but as I am writing this it has moved down a little further towards that target line.

Always remember though, they area just areas, nothing is always exact in trading.
Attached Image (click to enlarge)
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  • #4,099
  • Jan 7, 2014 5:34pm Jan 7, 2014 5:34pm
Hi Guys,

Review of daily, again not too much going on. Will be back later in the day to check out what is going on with the hourly and 4 hourly charts.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,100
  • Jan 8, 2014 3:08am Jan 8, 2014 3:08am
USDCAD Daily:

Hi Guys,

Price has made a break from the range on this pair.

Next obvious level is up around the 1.1000 ish area.

The weekly chart shows the significance of that area with the near term resistance clear to see also.
Attached Image(s) (click to enlarge)
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