Price Action and Trading Discussion | Page 227 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price action at the core = family members' discussion project 2,214 replies

Price Action discussion 26 replies

Volume Price Level Trading Discussion Area 1 reply

Trading and Exchanges Discussion Thread 17 replies

Maxsmarts Trading Journal and Discussion 164 replies

Attachments: Price Action and Trading Discussion
Exit Attachments

Price Action and Trading Discussion

  • #4,521
  • Feb 26, 2014 9:05am Feb 26, 2014 9:05am
Took two trades at NY open

EURAUD 30m

A couple fib lines, a trendline break + retest area, and some price structure got me in this one..
Took just over 50 pips

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm30.png Size: 64 KB


EURNZD 30m

Lots of Price structure here (support area becoming resistance area), after a big move down.. I assumed this was wave 2 in consolidation mode so tried to sell near the top of the range.. I got in too early initially and got stopped out for 20 pips, but got a reentry that banked me about 55 pips

Attached Image (click to enlarge)
Click to Enlarge Name: eurnzdm30.png Size: 59 KB


Done for they day
  • #4,522
  • Feb 26, 2014 9:09am Feb 26, 2014 9:09am
hm... decisions decisions
Howlin' at the Moon on the Roof
  • #4,523
  • Feb 26, 2014 9:10am Feb 26, 2014 9:10am
Quoting DarkWolF
{quote} I think that would depend on the individual trader and how they trade each condition. As one trader may define levels etc better than another just as one may trade trends better than another. I was predominately a range trader for quite some time, and found it to be quite profitable. But I also found the way I was trading when range trading was also much more aggressive, trading levels and touch trading etc to try and push the most out of tight areas. On the flip side trading a good strong trend can also be quite profitable. In either instance...

good post..

I trade both conditions bcz it's necessary due to market unpredictability.. but prefer one over other for following reasons, short to the point.
Range provides more information for more extended time the way i see it. Range (1hr and up) gives more insight of whats more likely to come, with a kicker. The Kicker is, when your range trade is in the direction of the breakout. PA's range time are longer than trend time. After a big move Pullback is a given and possible correction consolidation is more likely to happen if not reverses in full. Trends are hard to be identify upon it's arrival and departure, both before it's too late.

Duration of the two is what separates them in terms of more clue and info.

all and all IMHO.
Passion, Persist, Patience, Protect
  • #4,524
  • Feb 26, 2014 9:11am Feb 26, 2014 9:11am
Quoting GDR3k
{quote} That's what I normally do, speaking of which I've just done exactly that and closed the position a minute or so ago.
nice
  • #4,525
  • Feb 26, 2014 11:12am Feb 26, 2014 11:12am
I have just watched chfjpy miss my entry by 1 pip then go on to hit my target. as a parrot. GDR3k, I know how you feel now.
  • #4,526
  • Feb 26, 2014 11:16am Feb 26, 2014 11:16am
Quoting jen101
I have just watched chfjpy miss my entry by 1 pip then go on to hit my target. as a parrot. GDR3k, I know how you feel now.
That's happened more times than I can count. On the bright side, you was right with the analysis and you didn't lose a penny. I take it you was going off the 4hr charts...opening price around 114.44?

I had a buy order on eurjpy at 139.635 today, that was missed by a pip or two before moving back up.
  • #4,527
  • Feb 26, 2014 11:30am Feb 26, 2014 11:30am
Here is a daily view at AUD/USD:
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 46 KB
  • #4,528
  • Feb 26, 2014 11:41am Feb 26, 2014 11:41am
Here is another pair with AUD tending south:
Attached Image (click to enlarge)
Click to Enlarge Name: audchfdaily.png Size: 44 KB
  • #4,529
  • Feb 26, 2014 11:48am Feb 26, 2014 11:48am
Quoting GDR3k
{quote} I take it you was going off the 4hr charts...opening price around 114.44?
  • #4,530
  • Feb 26, 2014 12:30pm Feb 26, 2014 12:30pm
Quoting vitall
Here is a daily view at AUD/USD: {image}
Major AUD news out in about 6 hours.

What area you looking at to close for profit?
  • #4,531
  • Feb 26, 2014 12:54pm Feb 26, 2014 12:54pm
Quoting GDR3k
{quote} Major AUD news out in about 6 hours. What area you looking at to close for profit?
I do D1 mostly. So, if the news will push the price down through the support area, I will wait for the beginning of the pullback to test the support/resistance area. Something like this:
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 46 KB

In case of H1 trading I would close the position around .8900...
  • #4,532
  • Edited 1:32pm Feb 26, 2014 1:00pm | Edited 1:32pm
By the way, NZD news are coming in 2 hours and 30 min, they can push AUD/NZD down. H8 chart shows a weakness of AUD:
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH8.png Size: 44 KB
  • #4,533
  • Feb 27, 2014 1:24am Feb 27, 2014 1:24am
Went long AUDUSD 4hr ..

Looks like some nice price structure here, two fib lines from different swing points, and a round number 0.89250..
Stop is 20 pips below.. will probably get hit because of the bad aussie news (I originally was looking at a 123 down off the news play on a 30m chart), but wanted to take a stab here and see what happens..

Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 58 KB
  • #4,534
  • Feb 27, 2014 2:00am Feb 27, 2014 2:00am
And there goes my stop
Shame on me for breaking my rules haha
  • #4,535
  • Feb 27, 2014 2:05am Feb 27, 2014 2:05am
Quoting FXKabab
And there goes my stop Shame on me for breaking my rules haha
Unlucky, I'm waiting to go long just above 8850
  • #4,536
  • Feb 27, 2014 2:54am Feb 27, 2014 2:54am
Quoting FXEmpire
{quote} been long on this pair since Asian session.. to me it's ranging up and down with slight edge to push up.. will see. {image}
closed for -6.. just nothing gets going as of late.. early weekend seems best option I guess, lol.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.ih1.png Size: 73 KB
Passion, Persist, Patience, Protect
  • #4,537
  • Feb 27, 2014 4:11am Feb 27, 2014 4:11am
Hey GDR3k, awesome job on the analysis and follow through on your trades. Just a quick question. Where do you get your hourly, daily and monthly pivot points from. I have hourly, but I'd be nice to have daily and monthly. Cheers
  • #4,538
  • Feb 27, 2014 4:23am Feb 27, 2014 4:23am
Guys, can someone recommend some basic Price Action strategy to start with? Do you use some well-formulated rules when trade or it's necessary to analyze every particular situation on a market every time and there is no rules?
  • #4,539
  • Feb 27, 2014 5:45am Feb 27, 2014 5:45am
Finally closed this after two weeks for +400.. gave it all the chances and enough time to break through 400 mark which still might but I just don't want to see another drop down like it did on Monday seems like that's what is intending to do or a long PB. anyways done with it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud.ih1.png Size: 56 KB
Passion, Persist, Patience, Protect
  • #4,540
  • Feb 27, 2014 5:50am Feb 27, 2014 5:50am
Quoting Alex Fly
Guys, can someone recommend some basic Price Action strategy to start with? Do you use some well-formulated rules when trade or it's necessary to analyze every particular situation on a market every time and there is no rules?

Alex I suggest to start with s/r.. try to spot it on your own from longer tf (daily-hourly) to lower tf.. see if they make sense based on PA's multiple reaction to the levels area. This is good start to understand the basic and then move your way up TL, patterns etc, .
Passion, Persist, Patience, Protect
5 traders viewing now