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Price Action and Trading Discussion

  • #4,301
  • Feb 12, 2014 10:19am Feb 12, 2014 10:19am
Quoting GDR3k
{quote} eurjpy does look like it's loading up for a downmove, especially on the hourly charts. Regarding my short on gbpjpy... almost all my parameters for a position have been checked, let's see if the statistics are in my favour on this one...
I'm watching this. 170.00 broken
Attached Image
  • #4,302
  • Feb 12, 2014 10:29am Feb 12, 2014 10:29am
It is a brave trade no doubt. But there are valid reasons to be on this train. If it shoots down it could be a good RR trade
  • #4,303
  • Edited 11:04am Feb 12, 2014 10:49am | Edited 11:04am
Quoting FXEmpire
{quote} GDR are you using harmonic patterns to pick these setups? or just strong s/r?
I mostly look for areas of indecision, an example would be a bearish spinner candle right before a large bullish move, if and when price returned to that candle I'd look to get in long there, I've found this lets you be very accurate with your entries, often to the pip before it moves away in the other direction.

A good example of the above is a limit order I've got on euraud, in this post a few posts up, on the 30m timeframe, notice where my buy order is... that bearish spinner before the bullish move away and notice the market has not been back to that level since, that area would be a new low as well, which is always good.
  • #4,304
  • Feb 12, 2014 11:35am Feb 12, 2014 11:35am
Quoting GDR3k
{quote} I mostly look for areas of indecision, an example would be a bearish spinner candle right before a large bullish move, if and when price returned to that candle I'd look to get in long there, I've found this lets you be very accurate with your entries, often to the pip before it moves away in the other direction. A good example of the above is a limit order I've got on euraud, in this post a few posts up, on the 30m timeframe, notice where my buy order is... that...
Good, i thought your mostly looking to pick harmonic patterns which I am bias about.
.. interesting approach!!.. The spinner candle off news times like NFP or rate changes would also consider as indecisiveness one too for you??
Passion, Persist, Patience, Protect
  • #4,305
  • Feb 12, 2014 11:44am Feb 12, 2014 11:44am
Quoting GDR3k
{quote} I mostly look for areas of indecision, an example would be a bearish spinner candle right before a large bullish move, if and when price returned to that candle I'd look to get in long there, I've found this lets you be very accurate with your entries, often to the pip before it moves away in the other direction. A good example of the above is a limit order I've got on euraud, in this post a few posts up, on the 30m timeframe, notice where my buy order is... that...

like this one in eu (blue box).. if correct.. where would you exactly put your buy limit order?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.ih1.png Size: 57 KB
Passion, Persist, Patience, Protect
  • #4,306
  • Feb 12, 2014 5:29pm Feb 12, 2014 5:29pm
Quoting FXEmpire
{quote} like this one in eu (blue box).. if correct.. where would you exactly put your buy limit order? {image}
I tend to put the order a few pips above the opening price of the candle in question, taking into account spread, with that said, sometimes the market will hit the close price of the candle in question and then bounce away

I do use harmonic patterns on occasion, bats and butterflys mostly as they tend to repeat over and over and are easy to spot on the fly, regarding the news releases creating a spinner, to me that's also indecisiveness and they're good areas to get in at when the market returns to it.
  • #4,307
  • Feb 12, 2014 9:03pm Feb 12, 2014 9:03pm
Hi all EURAUD on weekly time frame stalling and and if holds may be good for long position but patience is the key
Attached Image (click to enlarge)
Click to Enlarge Name: euraud weekly long trade 12 02 2014.png Size: 31 KB
  • #4,308
  • Feb 12, 2014 9:15pm Feb 12, 2014 9:15pm
Quoting GDR3k
I may short gbpjpy @ 169.98 and gbpchf @ 1.4991, both just under major psychological levels... Anyone got any thoughts?
A good solid resistance area, price has stalled pretty much right on it. A good logical area for it to make some sort of retrace if it is going to. Even if it breaks higher, its's likely to stall, retrace slightly and then break on up further.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,309
  • Feb 12, 2014 9:17pm Feb 12, 2014 9:17pm
Quoting kebefx
Hi all EURAUD on weekly time frame stalling and and if holds may be good for long position but patience is the key {image}
Indeed, has stalled pretty much right on it. 4 hourly chart gives a good view of it.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,310
  • Feb 13, 2014 12:47am Feb 13, 2014 12:47am
Quoting GDR3k
{quote} I tend to put the order a few pips above the opening price of the candle in question, taking into account spread, with that said, sometimes the market will hit the close price of the candle in question and then bounce away I do use harmonic patterns on occasion, bats and butterflys mostly as they tend to repeat over and over and are easy to spot on the fly, regarding the news releases creating a spinner, to me that's also indecisiveness and they're good areas to get in at when the market returns to it.
Thanks bud.
Passion, Persist, Patience, Protect
  • #4,311
  • Feb 13, 2014 2:32am Feb 13, 2014 2:32am
Quoting DarkWolF
{quote} A good solid resistance area, price has stalled pretty much right on it. A good logical area for it to make some sort of retrace if it is going to. Even if it breaks higher, its's likely to stall, retrace slightly and then break on up further.
Closed for a profit about an hour ago :nerd:eyeing up 170.675 for a short scalp if it breaks out higher, or if it looks to stall around yesterdays high...
  • #4,312
  • Feb 13, 2014 4:32am Feb 13, 2014 4:32am
Quoting GDR3k
buy limit usdjpy @ 101.88 right on this weeks pivot and that area of indecision on the 1hr chart, highlighted green... {image}
Order hit with low risk/high reward, is anyone else long on this pair?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 47 KB
  • #4,313
  • Feb 13, 2014 5:09am Feb 13, 2014 5:09am
Quoting GDR3k
{quote} Order hit with low risk/high reward, is anyone else long on this pair? {image}
it's under my watch to go long around 102.00 area, need last confirmations on it still.. its good spot for long if it does not drop too far from 102.
Passion, Persist, Patience, Protect
  • #4,314
  • Feb 13, 2014 5:16am Feb 13, 2014 5:16am
Quoting FXEmpire
{quote} it's under my watch to go long around 102.00 area, need last confirmations on it still.. its good spot for long if it does not drop too far from 102.
I rarely go long if the price is just under a round number or short if it's just above a round number, I have however made an exception on this position
  • #4,315
  • Feb 13, 2014 5:26am Feb 13, 2014 5:26am
Quoting GDR3k
{quote} I rarely go long if the price is just under a round number or short if it's just above a round number, I have however made an exception on this position
oh i can care or less about roundies, this one just happen to be on that area for me.
I hope it takes off for you, i let you know if and when i get in on this one
Passion, Persist, Patience, Protect
  • #4,316
  • Feb 13, 2014 5:47am Feb 13, 2014 5:47am
Hi Guys,

Will be away from home for a few days so won't get the opportunity to be following the charts. Heading off to Sydney for a few days for a short family holiday. Going to be the first time on a plane for my 10 month old daughter so that should be interesting

Will be back on board for Tuesdays sessions next week. Hope you guys pick up some pips in any trades you have going.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,317
  • Feb 13, 2014 6:04am Feb 13, 2014 6:04am
Quoting DarkWolF
Hi Guys, Will be away from home for a few days so won't get the opportunity to be following the charts. Heading off to Sydney for a few days for a short family holiday. Going to be the first time on a plane for my 10 month old daughter so that should be interesting Will be back on board for Tuesdays sessions next week. Hope you guys pick up some pips in any trades you have going. Cheers.
Enjoy. I'll leave you some pips in the market for when you get back
  • #4,318
  • Feb 13, 2014 6:10am Feb 13, 2014 6:10am
Quoting DarkWolF
Hi Guys, Will be away from home for a few days so won't get the opportunity to be following the charts. Heading off to Sydney for a few days for a short family holiday. Going to be the first time on a plane for my 10 month old daughter so that should be interesting Will be back on board for Tuesdays sessions next week. Hope you guys pick up some pips in any trades you have going. Cheers.
be safe brother.
Passion, Persist, Patience, Protect
  • #4,319
  • Feb 13, 2014 7:47am Feb 13, 2014 7:47am
Quoting GDR3k
{quote} Order hit with low risk/high reward, is anyone else long on this pair? {image}
No but short on eurjpy. BE hit earlier with euro news, just re-entered. Also short on nzdusd. Negative at the moment, but that was a great pin bar yesterday. So, what do you reckon?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.PNG Size: 85 KB
Click to Enlarge Name: nzdusd.PNG Size: 91 KB
  • #4,320
  • Feb 13, 2014 7:54am Feb 13, 2014 7:54am
Quoting FXEmpire
eurusd long.. taking this long off the Pb from recent eu march post two announcements eu rate/nfp.. see if sets as a platform for continuation, it could be a nice bounce off the eu rate change high point. I look for recent high test (tough resistant) and Jan/24th 3730ish area.. will see how it plays out. ps) This one accounts as a trend play for me dwolf, {image}
just closed yesterdays disastrous EU trade at recent high for +30.. trade obviously became a failure one, faked for 80 pips about 20 to my hard sl and luckily back up today for some profit.

gbpaud trade still going strong at over +400 with 100 locked.. i leave this one be till it steams out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.ih1.png Size: 66 KB
Click to Enlarge Name: gbpaud.ih1.png Size: 57 KB
Passion, Persist, Patience, Protect
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