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Price Action and Trading Discussion

  • #4,581
  • Mar 4, 2014 6:56am Mar 4, 2014 6:56am
Quoting jen101
{quote} No I'm not . The first thing I determine is where I have to get out by. As 1:1 is a pre-requisite and the exit is non-negotiable, that sometimes mean the entries have to be a bit tighter, so I can get a reasonable stop loss, that's why. I see you missed gbpjpy too yesterday by about 5 pips, unless you moved your entry. That shot off!
Yeah I know what you mean, I do the exact same thing trying to get tight entries. My position was missed by a few pips also, would of been nice to wake upto a 100+ pip profit instead of potentially WW3 :nerd:
  • #4,582
  • Mar 4, 2014 7:04am Mar 4, 2014 7:04am
Finally, first trade of the week under way... (p-a-t-i-e-n-c-e!! ). I would have had a couple of winners already if I hadn't cancelled my aud orders last night before the rate announcement, oh well, c'est la vie...
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf.PNG Size: 65 KB
  • #4,583
  • Mar 4, 2014 9:28am Mar 4, 2014 9:28am
Just closed couple of yesterdays trades for about +70 each.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpy.im30.png Size: 58 KB
Click to Enlarge Name: cadjpy.im30.png1.png Size: 57 KB
Click to Enlarge Name: nzdjpy.im30.png Size: 63 KB
Click to Enlarge Name: nzdjpy.im30.png1.png Size: 66 KB
Passion, Persist, Patience, Protect
  • #4,584
  • Mar 4, 2014 9:59am Mar 4, 2014 9:59am
Hi all my pending order on this pair GBPCHF 1hour time frame for long trade just trigger let see how it plays out
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf 1hour long trade 04 03 2014.png Size: 40 KB
  • #4,585
  • Mar 4, 2014 2:14pm Mar 4, 2014 2:14pm
Closed gbpchf trade for +61
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf.im30.png Size: 58 KB
Click to Enlarge Name: gbpchf.im30.png1.png Size: 60 KB
Passion, Persist, Patience, Protect
  • #4,586
  • Mar 4, 2014 3:28pm Mar 4, 2014 3:28pm
Quoting DarkWolF
To get an idea of what I look for on the charts here is a recent trade I took on AUDUSD 4 hourly. I moved the stop up to lock in some pips with the news that was due out, so far so good it has stayed above that area after the news release. {image} {image}
Nice going, following couldn't be more important! SL and TP are among those features I consider as important in forex!
  • #4,587
  • Mar 5, 2014 12:34am Mar 5, 2014 12:34am
Check this out guys.. look how broker screwed me out of my tp.. I know it was news time but look at the gap and chaotic pa.. most likely the widen of spread got something to do with it, overall it cost me there unfortunetly.. cool 70+piper not capitalized..

now this better make it there today or %$%$ else.... lol
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.im30.png Size: 59 KB
Passion, Persist, Patience, Protect
  • #4,588
  • Mar 5, 2014 12:55am Mar 5, 2014 12:55am
Got couple of pendings..

-Sell stop on nzdjpy 85.669, taking this one off the month 4hr resistant counting on it to hold up and drop once again hopefully.
-Buy stop on gbpnzd 1.98751, this is just off the recent hourly support more like DB play.. not very strong but this pair is just been playing up down for quite some time, no real direction.
Passion, Persist, Patience, Protect
  • #4,589
  • Mar 5, 2014 1:45am Mar 5, 2014 1:45am
Hi Guys,

Have been a bit busy this week and have not managed to get much time for charting, but hopefully can start to squeeze in a bit of time from today.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,590
  • Mar 5, 2014 2:30am Mar 5, 2014 2:30am
Quoting FXEmpire
Check this out guys.. look how broker screwed me out of my tp.. I know it was news time but look at the gap and chaotic pa.. most likely the widen of spread got something to do with it, overall it cost me there unfortunetly.. cool 70+piper not capitalized.. now this better make it there today or %$%$ else.... lol {image}
That sort of thing happens to me a lot. Funny that if it was your SL you can be sure it would be hit. I use an ecn broker too...
  • #4,591
  • Mar 5, 2014 2:39am Mar 5, 2014 2:39am
Quoting jen101
{quote} That sort of thing happens to me a lot. Funny that if it was your SL you can be sure it would be hit. I use an ecn broker too...
yep you can take that to the bank, lol.. i guess its a luxury of being a broker and not just a retail trader.
Passion, Persist, Patience, Protect
  • #4,592
  • Mar 5, 2014 3:18am Mar 5, 2014 3:18am
Quoting FXEmpire
Got couple of pendings.. -Sell stop on nzdjpy 85.669, taking this one off the month 4hr resistant counting on it to hold up and drop once again hopefully. -Buy stop on gbpnzd 1.98751, this is just off the recent hourly support more like DB play.. not very strong but this pair is just been playing up down for quite some time, no real direction.
gbpnzd triggered..

I canceled the nzdjpy for now since it broke out of the level rather strongly for now.
Passion, Persist, Patience, Protect
  • #4,593
  • Mar 5, 2014 3:44am Mar 5, 2014 3:44am
Quoting kebefx
Hi all my pending order on this pair GBPCHF 1hour time frame for long trade just trigger let see how it plays out {image}
Quick update on trade i took yesterday i decided to manually close the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf 1hour update 05 03 2014 update1.png Size: 19 KB
  • #4,594
  • Mar 5, 2014 6:15am Mar 5, 2014 6:15am
Quoting GDR3k
entered long gbpaud @ 8638 about an hour ago, just above the opening price of that bullish 1hr candle, target 1.8696. Looking for a bullish breakout from this small diamond shape. {image}
Still in this position, moved my stop last night right before the GDP release to counter any spike down, my bias is bullish regardless of the positive figures for AUD...

  • #4,595
  • Mar 5, 2014 6:56am Mar 5, 2014 6:56am
Quoting jen101
Finally, first trade of the week under way... (p-a-t-i-e-n-c-e!! ). I would have had a couple of winners already if I hadn't cancelled my aud orders last night before the rate announcement, oh well, c'est la vie... {image}
SL hit . It will probably reverse now. At least I had a lucky win last night with audjpy - I got the right side of the spike.
  • #4,596
  • Edited 7:23am Mar 5, 2014 7:08am | Edited 7:23am
just triggered long on eurcad 1.52153.. I know, i know, cad got some major news coming in couple of hours, but it has walked right into my signal which is off the lower recent bracket support line.. who the hell knows whats going to happen.. but here is the deal.. I am up about 500pips this month already, its a big time start already so what I do when I am up, I keep on pressing the f out of it and wont let anything to stop me.. plus there is a 50/50 chance of win here where could payoff big if it gets bullishly wild.. and if i lose, well, based on the position i am i can offered it.. it's worth the risk to not stir me away from my signal.
just some account management based on situation advantage and disadvantages.


ps) adp number skunked.. dollar weakness would serve me good here.. lol
Passion, Persist, Patience, Protect
  • #4,597
  • Mar 5, 2014 7:33am Mar 5, 2014 7:33am
Quoting FXEmpire
just triggered long on eurcad 1.52153..
That was my cadchf short . I've just had cadjpy short and usdcad long triggered. Ok, here's another way of looking at announcements: do nothing and you have a 50/50 chance if it causes a big move. Most of the time, the news doesn't do much because the outcome is near enough as expected. If you chicken out, you may be passing over a prime opportunity. So, on that basis, you may be better off ignoring the news. Just an argument; I'm still struggling with that one!
  • #4,598
  • Mar 5, 2014 7:48am Mar 5, 2014 7:48am
Quoting jen101
{quote} That was my cadchf short . I've just had cadjpy short and usdcad long triggered. Ok, here's another way of looking at announcements: do nothing and you have a 50/50 chance if it causes a big move. Most of the time, the news doesn't do much because the outcome is near enough as expected. If you chicken out, you may be passing over a prime opportunity. So, on that basis, you may be better off ignoring the news. Just an argument; I'm still struggling with that one!

good point on the highlighted area.. they normally do as what you just stated and hate to see a opportunity to get wasted.
for me I really hate to lose out on my signal bcz of anything.. now major news like rate announcements and nfp is a bit different, i treat it by making sure to make some maneuvers to get in prior to release or remove it at the release and that's due to whiplash gap to trigger me with big ass slippage at unwanted price. all other news is just pretty much a ignore to have no effect on my entries.

anyways lets just hope that cad stinks it upppp.. lol
Passion, Persist, Patience, Protect
  • #4,599
  • Mar 5, 2014 8:32am Mar 5, 2014 8:32am
Quoting FXEmpire
{quote} anyways lets just hope that cad stinks it upppp.. lol
Me too . Will have BE just in case...

Here are my 2 trades. Back at my desk now; wasn't too easy to post them earlier.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpy.PNG Size: 66 KB
Click to Enlarge Name: usdcad.PNG Size: 63 KB
  • #4,600
  • Mar 5, 2014 9:02am Mar 5, 2014 9:02am
Quoting jen101
{quote} Me too . Will have BE just in case... Here are my 2 trades. Back at my desk now; wasn't too easy to post them earlier. {image} {image}
It did, lol.
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