Price Action and Trading Discussion | Page 228 | 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

  • #4,541
  • Feb 27, 2014 6:27am Feb 27, 2014 6:27am
Hi Guys,

Missed most of the London session today as was not at home, just got a a look a the charts for the first time now. Looks like been a little bit of movement on some of the pairs.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,542
  • Feb 27, 2014 6:36am Feb 27, 2014 6:36am
AUDUSD Hourly:

Quoting DarkWolF
The levels and areas area the on almost every chart you will look at. The repeat patterns, the horizontal areas, the trend lines. Can you train your eye to see them, that is the question. Certain areas on the chart are more than likely to cause some sort of reaction from price. How much, and how much you are willing to take is always the hard part. Get on the train at one station, hop on for the ride, get off at the next station {image}
Hi Guys,

A few lines and areas that were highlighted on this chart yesterday.

Now have a look how price has reacted at those levels.

Can you see how simple it really can be. Do not over complicate the process.

Look at the charts, get used to looking for the key areas, from there it becomes your choice how you trade it, being using touch trades or using PA bars.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 211 KB
Click to Enlarge Name: 2.jpg Size: 203 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,543
  • Feb 27, 2014 6:46am Feb 27, 2014 6:46am
Quoting FXEmpire
{quote} 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, .
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,544
  • Feb 27, 2014 6:48am Feb 27, 2014 6:48am
Quoting FXEmpire
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. {image}
Awesome result for that one that is for sure
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,545
  • Feb 27, 2014 8:23am Feb 27, 2014 8:23am
This has been a bit of a mess, but it might be nearly there. I also had a buy on gbpcad at 1.8515, but that hit my BE. Now that looks like it will probably get there.

A question for all of you, what do you feel about BE? It seems that it prevents as many trades finally getting to target as it prevents bad trades hitting SL, but I still use it. I normally set it about halfway or just before a level I think could be a little shaky. Maybe it's just saves my nerves, not much else .
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.PNG Size: 69 KB
  • #4,546
  • Feb 27, 2014 8:28am Feb 27, 2014 8:28am
Quoting jen101
A question for all of you, what do you feel about BE? It seems that it prevents as many trades finally getting to target as it prevents bad trades hitting SL, but I still use it. I normally set it about halfway or just before a level I think could be a little shaky. Maybe it's just saves my nerves, not much else . {image}
I like break even, it takes all the risk off a trade, and is better than a loss.
Plus, you can always come up with a reentry plan to get back in, so you don't miss your initial target, right?
  • #4,547
  • Feb 27, 2014 8:44am Feb 27, 2014 8:44am
Quoting FXKabab
{quote} I like break even, it takes all the risk off a trade, and is better than a loss. Plus, you can always come up with a reentry plan to get back in, so you don't miss your initial target, right?
Noooo, I don't do re-entries (although that gbpcad trade has now hit my target!) Maybe it's superstition; in the past whenever I have re-entered it seemed to go wrong. There's always another day, another trade... plus I don't get the time to watch it. Normally, by the time I've seen what's happened, I'm way too late to get back in.
  • #4,548
  • Edited 11:47am Feb 27, 2014 8:56am | Edited 11:47am
Quoting FXEmpire
{quote} 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, .
Thanks, I'll start with support/resistance
  • #4,549
  • Edited 9:16am Feb 27, 2014 9:05am | Edited 9:16am
Quoting jen101
This has been a bit of a mess, but it might be nearly there. I also had a buy on gbpcad at 1.8515, but that hit my BE. Now that looks like it will probably get there. A question for all of you, what do you feel about BE? It seems that it prevents as many trades finally getting to target as it prevents bad trades hitting SL, but I still use it. I normally set it about halfway or just before a level I think could be a little shaky. Maybe it's just saves my nerves, not much else . {image}
jen.. I'll say depends on when you move the risk to BE!!.. if its right after trigger where your straight into profit halfway or so to your target, then it's rather too quick, looks like a scared money play. I can tell you almost certain it will hurt you in the long run then serves you benefit if you treat your trade as such.. why? for simple fact that most times PA strikes and pulls and again and again, that's how price moves usually.. but if you give the trade the reasonable time and chances to show its true intention or not then then moving the risk to BE is a good play and this way you have not interrupted yourself from the natural flow of PA's movement and given that chance before premature decision.

however it all depends on ones style and plan of trading.. but whatever the trading plan is, this is a essential elements that needs to be considered and fit properly.

for example me myself.. I trade the hourly frame mostly, risk 1% on 50 lev acc.. I only use the BE play when I need to cover my butt from a failed trade or indecisiveness situation, but only after reasonable time and breathing room has been given (minimum one session to 24hrs-100pip stop).. meaning giving up on the trade/target and moving the tp/sl to BE or -10 on a confirmed fake out to take me out on pullback.

anyways I hope it helps you out.
Passion, Persist, Patience, Protect
  • #4,550
  • Feb 27, 2014 9:26am Feb 27, 2014 9:26am
Quoting DarkWolF
{quote} Awesome result for that one that is for sure
thanks budd.. to be honest and not to sound cocky or anything.. I am a bit disappointed with that trade where it held my capitol for 2 weeks and the damn thing never moved higher than the original strong 400pips move on day one, it kept bouncing off the top where looked liked breaking through to the next level.. and based on my plan I need to have big banks as such and more once in a while to have satisfying quarterly profitability.
February has been frustrating for me, spinner bottom line, which i hate, i rather lose, lol.
Passion, Persist, Patience, Protect
  • #4,551
  • Feb 27, 2014 9:46am Feb 27, 2014 9:46am
Quoting FXEmpire
{quote} jen.. I'll say depends on when you move the risk to BE!!.. if its right after trigger where your straight into profit halfway or so to your target, then it's rather too quick, looks like a scared money play. I can tell you almost certain it will hurt you in the long run then serves you benefit if you treat your trade as such.. why? for simple fact that most times PA strikes and pulls and again and again, that's how price moves usually.. but if you give the trade the reasonable time and chances to show its true intention or not then then...
Thanks. That's helpful. I had a hunch it was more of a hindrance than a help, but couldn't quite put my finger on it. Going to try it a bit differently .
  • #4,552
  • Feb 27, 2014 10:41am Feb 27, 2014 10:41am
Quoting jen101
{quote} I had a hunch it was more of a hindrance than a help, but couldn't quite put my finger on it. .
!!
Passion, Persist, Patience, Protect
  • #4,553
  • Feb 27, 2014 11:23am Feb 27, 2014 11:23am
Quoting GDR3k
{quote} Unlucky, I'm waiting to go long just above 8850
It's ok.. all part of the game.

I got a reentry when it popped back above then pulled back to 0.89250 shortly after the NY open.. added a second position when it broke through the first area of resistance confirming an inverse H&S pattern around 0.89430 and finished the day at the London close for +35ish.

Not great considering all the other big moves that happened today, but I didn't get a chance to play or watch much else as I was away from my laptop for most the day. Nonetheless, it's still better than the -20 I started the day with, so I'm happy

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30 a.png Size: 41 KB
  • #4,554
  • Feb 28, 2014 9:48am Feb 28, 2014 9:48am
My last trade for the week has just closed, gbpchf long from 1.4711 to 1.4751. Total 7 net winners this week at 1:1 r:r so I'm happy, considering I started the week badly with a couple of losses. A good weekend to all.
  • #4,555
  • Feb 28, 2014 4:23pm Feb 28, 2014 4:23pm
Hi all,

Does anybody here trades with cycles technique?

Thanks,
John
  • #4,556
  • Mar 3, 2014 1:33am Mar 3, 2014 1:33am
Morning.. 1st trading day of the month, hope everyone jumps to good start and finish largggg.. let's get it going..
I several trades going already.. yep I like to dig myself a hole early on, lol.. or maybe not.

usdjpy long 101.826 (from Friday)
usdcad long 1.10803
gbpchf long 1.47316
audusd long 0.89225

buy limit audcad 0.9857
buys stop nzdjpy 84.886

I don't want to post to many charts to clutter the thread too much.. all these trades are based on hitting good levels IMO and could bounce for some profit I look for +50 preferably 80+.. will see what happens.
Passion, Persist, Patience, Protect
  • #4,557
  • Mar 3, 2014 2:43am Mar 3, 2014 2:43am
So rough after this weekend, blah

Took a few losses towards the end of last week, broke my trading rules twice and incurred two losses Still up for the month though which is the main thing. Just entered long on gbpaud @ 8708 just above todays pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 61 KB
  • #4,558
  • Mar 3, 2014 3:14am Mar 3, 2014 3:14am
Quoting GDR3k
So rough after this weekend, blah Took a few losses towards the end of last week, broke my trading rules twice and incurred two losses Still up for the month though which is the main thing. Just entered long on gbpaud @ 8708 just above todays pivot. {image}
Nice.. i grabbed a couple positions on gbpaud too as it came down towards that daily pivot and round number 1.87000 as London opened.

Also bought a eurjpy position at london open because price made a double bottom from the tokyo open area (pretty clear on the 15m) and had a round number 139.50 there too.

Looks like they're turning around as I type though... Monday's, man lol
  • #4,559
  • Mar 3, 2014 3:25am Mar 3, 2014 3:25am
Quoting FXKabab
{quote} Nice.. i grabbed a couple positions on gbpaud too as it came down towards that daily pivot and round number 1.87000 as London opened. Also bought a eurjpy position at london open because price made a double bottom from the tokyo open area (pretty clear on the 15m) and had a round number 139.50 there too. Looks like they're turning around as I type though... Monday's, man lol
GBP manufacturing out in a few minutes should move the pound, i'll be going long on gbpjpy down at 168.745, fresh demand on the 4hour charts along with this months main pivot in the area, let's see what happens...
  • #4,560
  • Mar 3, 2014 3:58am Mar 3, 2014 3:58am
Hi Guys,

Hope you all had a great weekend. I have only really got to my PC for the day, havent even opened up my charts as yet.

Lets see what the new week brings us
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
5 traders viewing now