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Price Action and Trading Discussion

  • #4,641
  • Mar 9, 2014 9:51am Mar 9, 2014 9:51am
Quoting GDR3k
{quote} Yep it has, next week should be better. Anyone got any plans for this weekend?
This weekend I'm watching video forecasting videos and the infamous Jason Stapleton states:


GBPUSD: bearish
Entry: now
TP: 1.6619
TP 2: 1.6300
TP 3: 1.62500
SL: 1.68250

EURGBP: bearish
Entry: from 0.83083 (78.6 fibonacci)
SL: 0.83100

CADJPY: bearish
entry: from 95.3066 (88.6 fibonacci)
TP: 92.6909

GBPAUD: bullish
entry: 1.82724

This is a summary that I wrote myself of:
Inserted Video
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  • #4,642
  • Mar 9, 2014 9:53am Mar 9, 2014 9:53am
Quoting JustUsePrice
Hi, I am new to this forum but have been following for a long time, but not a member. I just became a member, and I love using price action. Would like to get involved here if you guys let me Thanks
Welcome to the forum!
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  • #4,643
  • Mar 9, 2014 9:56am Mar 9, 2014 9:56am
i use chart 30sec for scalping..huge profit and huge ability to learn the way of george soros scalper ethnic
  • #4,644
  • Mar 9, 2014 10:17am Mar 9, 2014 10:17am
Quoting GDR3k
{quote} I used ctrader for scalping as I find it's ideal for it, I may have a look at another broker who also uses ctrader and see if their candles are behaving the same as this current one. Do any of you use IC Markets? what do you think of them?
IC markets is pretty famous in Australia. You can find more information about it here: http://www.trade2win.com/boards/fore...n-brokers.html.

But another broker called IG markets is famous worldwide for using the most independ price feed. I read over 100+ ebooks about forex and followed 50+ training courses and I can tell you that the best brokers are interactive brokers, Dukascopy or any Currenex-enabled institutional, as well as EFX Group (note their low spread) and the infamous Chris Lori is set on www.XpressFX.com.

If you want to become a professional scalper, my suggestion is to subscribe to an independent and dedicated charting package (to see the REAL chart, instead of the manipulated one). Or ask your favorable broker like IC markets who provides them with their streaming FX data feed (because if it’s from a broker, then it’s manipulated and definitely not independent). For example my broker (forex.com) receives their data feed directly from (i.e.) the Deutche Bank. But of course you are an individual trader so you cannot receive data feed directly from the Deutche Bank. That's why every professional scalper gets a subscription at Reuters and EBS feeds (through Bloomberg), because they have the best paid feeds.
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  • #4,645
  • Mar 9, 2014 10:23am Mar 9, 2014 10:23am
Quoting Nfp
i use chart 30sec for scalping..huge profit and huge ability to learn the way of george soros scalper ethnic
I can understand you scalp in both high and low volatile pairs as long as you can see a clear signal and pattern. Right? So where do you focus on when scalping if you would sum it up and what did you learn from your mistakes? I'd like to improve myself.
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  • #4,646
  • Mar 9, 2014 11:06am Mar 9, 2014 11:06am
Quoting michaellobry
{quote} I can understand you scalp in both high and low volatile pairs as long as you can see a clear signal and pattern. Right? So where do you focus on when scalping if you would sum it up and what did you learn from your mistakes? I'd like to improve myself.

i dont believe on chart pattern

chart pattern will give us the blind spot of market reality

we need different approach such as using the sodomi pattern and other sonic SnR
  • #4,647
  • Mar 9, 2014 12:01pm Mar 9, 2014 12:01pm
Quoting Nfp
{quote} i dont believe on chart pattern chart pattern will give us the blind spot of market reality we need different approach such as using the sodomi pattern and other sonic SnR
By chart patterns you mean candlestick patterns. Yea, you are right. I've heard many people telling me that candlestick patterns aren't reliable. On the other hand the gross of us (the forex traders) draw trendlines and use the breakouts, we use MAs (moving averages) and fibonacci. Even Elliot Wave.

You mentioned that candlestick patterns don't work. But I disagree. Because there are lots of people who don't believe that the fibonacci or Elliot Wave theory exists on forex. But the truth is that 95% of the people on forex trade to earn money (to make profit), the other 5% trade without aiming for profit (for example if you go on vacation to my beautiful tulip and frog country, then you'd exchange from Malaysian rupees to euros so as to buy nice things like stroopwafels and poffertjes.)

The gross of this 95% mostly uses trendlines. So of course forex becomes tradable using trendlines. The same applies to fibonacci. Yes, maybe you don't believe that your human body consists of fibonacci 38.2%. But it's not about believing whether the theory is true, if they use this tool then of course it becomes tradable in forex. Could you be more specific, how would you make profit right now if you would advice me? What is the different approach that you have in mind?
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  • #4,648
  • Mar 9, 2014 2:06pm Mar 9, 2014 2:06pm
Quoting michaellobry
{quote} By chart patterns you mean candlestick patterns. Yea, you are right. I've heard many people telling me that candlestick patterns aren't reliable. On the other hand the gross of us (the forex traders) draw trendlines and use the breakouts, we use MAs (moving averages) and fibonacci. Even Elliot Wave. You mentioned that candlestick patterns don't work. But I disagree. Because there are lots of people who don't believe that the fibonacci or Elliot Wave theory exists on forex. But the truth is that 95% of the people on forex trade to earn money...

chart pattern work when it tells it work

speed and temperature are some of them.

i believe chart pattern are useless except u put on something to believe.. for example, doji for breakout..simple..

shooting star for support..
  • #4,649
  • Mar 9, 2014 2:31pm Mar 9, 2014 2:31pm
The clearer the candlestick pattern or formation (Head-and-shoulders, break, triangle, flag, wedge, diamond, 123, M, W etcetera) the more traders will respond. It won't work if you are using a small national non-regulated broker who frequently uses spikes and manipulates the price feed as much as people keep manipulating their mind that they become a billionaire with forex. Note, if you'd look in a platform of those kinds of brokers you'll see a totally other candle pattern. A shooting star may not even be there at all. I'm not saying you have to switch brokers, just use a second platform with the most independent price feed is all. As Morphios says: do you believe?
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  • #4,650
  • Mar 9, 2014 5:45pm Mar 9, 2014 5:45pm
A few orders waiting for the coming week...
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  • #4,651
  • Mar 10, 2014 1:42am Mar 10, 2014 1:42am
hi fellows.. new week fresh out to head butt with market challenges, green pips to all.
Passion, Persist, Patience, Protect
  • #4,652
  • Mar 10, 2014 1:54am Mar 10, 2014 1:54am
Quoting michaellobry
{quote} I also want to first see confirmation that EU goes down. Lots of traders (77% of all traders on forexfactory) already took the trade and went down: http://www.forexfactory.com/trades.php Doesn't that say something? Also what does NFP mean?

I sum all your questions and comments in a few lines below.. and take no offense plz it's in good intentions.

follow your own analysis and your own perspective of the market based on your own trading plan.
all the ff feed, your instructor, your macd zero cross no cross, signal of someone else, strategy of someone else and etc,.. it's all secondary if not none existent to the first line.
on one particular AU trade.. i did not use trail stop nor like it or ever used, its none existent in my trading plan. I just sat on the orginal target as trade still looked good to reach the target which it did and I capitalized, it just requires some knowledge.
trading has its pros and con, it has it give and take.. you do one thing it might lag another thing.. its about your trading plan based on your agenda and following it to death.

NFP?.. well, I think it should mean.. NO Fucking Problem
Passion, Persist, Patience, Protect
  • #4,653
  • Mar 10, 2014 3:25am Mar 10, 2014 3:25am
Quoting FXEmpire
hi fellows.. new week fresh out to head butt with market challenges, green pips to all.
Unfortunately that's a hopeless thought...

But many green ones to Jen ( a wolfs so embarrassed right now) =p

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  • #4,654
  • Mar 10, 2014 4:06am Mar 10, 2014 4:06am
Quoting FXEmpire
{quote} NFP?.. well, I think it should mean.. NO Fucking Problem
I'll remember that.

Quoting Wolf_Wicked
{quote} Unfortunately that's a hopeless thought... But many green ones to Jen ( a wolfs so embarrassed right now) =p http://www.youtube.com/watch?v=Gcg__eDktgY
Thank you
  • #4,655
  • Mar 10, 2014 4:12am Mar 10, 2014 4:12am
A trade taken this morning. It's moved pretty fast. I've still a couple left over from last week, usdchf short and eurjpy long. They're ok.
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  • #4,656
  • Mar 10, 2014 4:17am Mar 10, 2014 4:17am
And another
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  • #4,657
  • Mar 10, 2014 4:25am Mar 10, 2014 4:25am
Hi Guys,

I have been slightly pre occupied lately due to various things going on. Hopefully by later today and if not, definitely tomorrow I should be able to give some attention back to my charts.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,658
  • Mar 10, 2014 4:31am Mar 10, 2014 4:31am
Quoting JustUsePrice
Hi, I am new to this forum but have been following for a long time, but not a member. I just became a member, and I love using price action. Would like to get involved here if you guys let me Thanks
Hi JustUsePrice,

No problems at all, look forward to your involvement and to seeing some charts.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #4,659
  • Mar 10, 2014 4:37am Mar 10, 2014 4:37am
A pin bar reversal on the daily just opened...
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  • #4,660
  • Mar 10, 2014 6:51am Mar 10, 2014 6:51am
eu short 1.38679.. shorted from recent resistant, lets see if it holds up..
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Passion, Persist, Patience, Protect
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