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Price Action and Trading Discussion

  • #4,141
  • Jan 15, 2014 6:42pm Jan 15, 2014 6:42pm
Quoting GDR3k
{quote} I just scalp the higher timeframes mostly thesedays, set my orders and leave them to get hit which could take days/weeks.
Yes indeed, it can be a good way to do it. Certain charts can be great for that kind of trading especially trading the range during the asian session.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,142
  • Jan 15, 2014 6:44pm Jan 15, 2014 6:44pm
Little bit of movement across the AUD pairs after the unemployment release.

It never ceases to amaze me how much the economic releases can affect the charts in FX.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,143
  • Jan 16, 2014 2:31am Jan 16, 2014 2:31am
I took short on this pair last nite still in my direction my first take profit level almost reached
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  • #4,144
  • Jan 16, 2014 3:14am Jan 16, 2014 3:14am
Quoting kebefx
I took short on this pair last nite still in my direction my first take profit level almost reached {image} {image}
Nice work Kebefx, some of those AUD pairs have shorted nicely after the unemployment data earlier today.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,145
  • Jan 16, 2014 3:21am Jan 16, 2014 3:21am
Quoting DarkWolF
Little bit of movement across the AUD pairs after the unemployment release. It never ceases to amaze me how much the economic releases can affect the charts in FX.
re audusd, 0.8690 in my humbles opinion is a good place to get in long, 100 pip stop check the daily charts, 19th july 2010...that swing low which hasn't been re-tested since price moved away from it.
  • #4,146
  • Edited 11:31pm Jan 16, 2014 11:12am | Edited 11:31pm
Howdy

Here is a trade I just got in, thought of some people wanting real time trades

Current upward momentum, found support to bounce off.

Cheers

Update on trade. I moved my stop to just under entry to be stopped out. Some you win some you loose, hence why Darkwolf and everyone says not to copy!
Attached Image(s) (click to enlarge)
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  • #4,147
  • Jan 17, 2014 12:38am Jan 17, 2014 12:38am
Quoting Spongebob123
Howdy Here is a trade I just got in, thought of some people wanting real time trades Current upward momentum, found support to bounce off. Cheers Update on trade. I moved my stop to just under entry to be stopped out. Some you win some you loose, hence why Darkwolf and everyone says not to copy! {image} {image}
Thanks for your real time trade ... yes some you win some you loss, I was the one who asked for real time trade.
We are learning all the time and you can learn from wins and from losses.

In your trade I can see there was't really up trend on daily chart it more like side walk, also you can see 2 days ago pin bar on resistance line and you can see he try to break that level couple of time with no success, on 4H chart , the price didn't supported on any level on his way down and the red candule are much more stronger then the green candle, when I see these balance on power I never think on long position.

And again thanks a lot for your real time trade.

V.
Attached Image(s) (click to enlarge)
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  • #4,148
  • Jan 17, 2014 3:59am Jan 17, 2014 3:59am
Hi Guys,

Just getting my first look at the charts, a little late today.

A nice move from the GBP pairs on the back of the retail sales data.

Not too much grabbing my attention on the hourly charts as yet, but will keep checking over the next few hours to see what is going on.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,149
  • Jan 17, 2014 4:06am Jan 17, 2014 4:06am
NZDUSD:

Hi Guys,

I think the support area that Spongebob identified on the 4 hourly was a good sound support area, but the bar itself potentially not quite strong enough.

But like I always say, if it fits your trading plan, then take the trade.

For me I am keeping an eye on the current range area on the daily charts. When price eventually breaks either side of this area, then I will sit up and take notice.

I guess it all depends on the time frame that you are focusing on. What I trade on the hourly for example might at times conflict with what I am keeping an eye on with the longer term charts. However with my hourly trades I am generally looking at relatively short term areas to get in and out at.
Attached Image (click to enlarge)
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,150
  • Jan 17, 2014 4:12am Jan 17, 2014 4:12am
USDCAD Daily:

RN area proved to be ideal target.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,151
  • Jan 17, 2014 4:23am Jan 17, 2014 4:23am
AUDCAD Daily:

Price pushed straight through the near term resistance area.

The second resistance area held nicely though.
Attached Image(s) (click to enlarge)
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,152
  • Jan 17, 2014 4:28am Jan 17, 2014 4:28am
NZDJPY Daily:

Keeping an eye on this one, but so far nothing has taken place. It is only a matter of time before it breaks one way or the other. Well in saying that it could simply range sideways above or around that RN area also.
Attached Image (click to enlarge)
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  • #4,153
  • Jan 17, 2014 6:41am Jan 17, 2014 6:41am
Hi All,
Been reading your thread and have really been enjoying it. Here is a trade I put on last night(EST. my time) not a lot of energy it at ATM so i am not giving it a long leash, plus its friday. Again really enjoying the thread DarkWolf.
Thanks
Jay

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Always Learning
  • #4,154
  • Jan 17, 2014 7:11am Jan 17, 2014 7:11am
Quoting JayTrader
Hi All, Been reading your thread and have really been enjoying it. Here is a trade I put on last night(EST. my time) not a lot of energy it at ATM so i am not giving it a long leash, plus its friday. Again really enjoying the thread DarkWolf. Thanks Jay {image}
Hi Jay,

Glad your enjoying the thread.

Recent momentum on AUD certainly has been down. If it can hold below the most recent range it has been in on the daily chart, we could see the .8500 ish area tested.

However price is currently sitting at longer term support area, another battle ground area for the bulls vs bears.

It has been relatively quiet during the London session. Let's see if the start of the NY session can provide some movement for the end of the week or not.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,155
  • Jan 17, 2014 7:34pm Jan 17, 2014 7:34pm
https://www.tradingview.com/x/2Zdviouk/
  • #4,156
  • Jan 17, 2014 7:59pm Jan 17, 2014 7:59pm
I think AU has high potential for reversal as it is forming a falling wedges even before the market close it is going up in a 5M TF. But in the long term, I think it is still a clear bearish trend.

p/s: newbie trader
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  • #4,157
  • Jan 20, 2014 6:49am Jan 20, 2014 6:49am
Hi Guys,

Well a rather uneventful session so far to start the week.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,158
  • Jan 20, 2014 9:32am Jan 20, 2014 9:32am
Quoting vipbluesky
I think AU has high potential for reversal as it is forming a falling wedges even before the market close it is going up in a 5M TF. But in the long term, I think it is still a clear bearish trend. p/s: newbie trader {image}
I am waiting for the pullback toward the Support Zone and move down, according to the trend:

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  • #4,159
  • Jan 20, 2014 10:16am Jan 20, 2014 10:16am
Hey guys

Current momentum on 4h chart looking to the upside, price found support and rejected going lower with a nice sized pin.

Posting a little later as we seem to win after the NOW!
Attached Image (click to enlarge)
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  • #4,160
  • Jan 20, 2014 4:27pm Jan 20, 2014 4:27pm
Quoting Spongebob123
Hey guys Current momentum on 4h chart looking to the upside, price found support and rejected going lower with a nice sized pin. Posting a little later as we seem to win after the NOW! {image}
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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