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Price Action and Trading Discussion

  • #5,121
  • May 9, 2014 3:53am May 9, 2014 3:53am
Quoting njodogg
$GBPUSD update http://screencast.com/t/bRsocC2Lws
I have that one too, moving well. Looking to redeem yesterday .
  • #5,122
  • May 9, 2014 5:12am May 9, 2014 5:12am
Hi Guys,

Well it's Friday night here, time to kick back, relax with a cold beer then maybe a red wine or 2 and watch some charts. Cranking up my charts now. Let's see whats going on for the end of the week.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,123
  • May 9, 2014 5:58am May 9, 2014 5:58am
EURNZD Daily:

Short position taken on EURNZD daily.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD Daily 09-05.jpg Size: 159 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,124
  • May 9, 2014 6:02am May 9, 2014 6:02am
Quoting FXEmpire
Got this gj long floating currently, set the tp above resistant for +90 but I be happy with 60 if it hesitates too much. This is off the recent sup turning into nice level with multiple touches, I already took some profit from it earlier this week.. its looking good this am a lot remains to be seen though. {image}
Be careful, it might be breaking out of the wedge, going south .
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.PNG Size: 74 KB
  • #5,125
  • May 9, 2014 6:06am May 9, 2014 6:06am
Quoting jen101
{quote} Be careful, it might be breaking out of the wedge, going south . {image}
Hi Jen,

Ya' indeed, keeping a close eye on that area myself
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,126
  • May 9, 2014 6:11am May 9, 2014 6:11am
Happy with the pips made but wish I had been awake to better manage this trade left some on the table. looks like its head to 6850 area

$GBPUSD http://screencast.com/t/TJt1qJibOt4
  • #5,127
  • May 9, 2014 6:17am May 9, 2014 6:17am
Quoting njodogg
Happy with the pips made but wish I had been awake to better manage this trade left some on the table. looks like its head to 6850 area $GBPUSD http://screencast.com/t/TJt1qJibOt4
Nice work
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,128
  • May 9, 2014 6:25am May 9, 2014 6:25am
Quoting njodogg
Happy with the pips made but wish I had been awake to better manage this trade left some on the table. looks like its head to 6850 area $GBPUSD http://screencast.com/t/TJt1qJibOt4
Me too Just cashed in. 2 positions, 71 and 45 pips. to Draghi and EU and yesterday!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.PNG Size: 75 KB
  • #5,129
  • May 9, 2014 6:27am May 9, 2014 6:27am
Quoting jen101
{quote} Me too Just cashed in. 2 positions, 71 and 45 pips. to Draghi and EU and yesterday! {image}
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,130
  • May 9, 2014 6:31am May 9, 2014 6:31am
Just to expand on the $GBPUSD if we check out the Daily Chart as well a completed ABCD pattern break may be happening today it will be tough to take this one as point B which was former resistance could now flip and be support but something to keep an eye on fore sure

http://screencast.com/t/D2nmUZrgw
  • #5,131
  • May 9, 2014 6:36am May 9, 2014 6:36am
Quoting njodogg
Just to expand on the $GBPUSD if we check out the Daily Chart as well a completed ABCD pattern break may be happening today it will be tough to take this one as point B which was former resistance could now flip and be support but something to keep an eye on fore sure http://screencast.com/t/D2nmUZrgw
Indeed, but the trendline is another key area to be keeping an eye on. Been holding above that for some time now.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 09-05.jpg Size: 177 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,132
  • May 9, 2014 6:36am May 9, 2014 6:36am
Also if anyone is interested I got my ABCD Indicator over here http://www.pointzero-trading.com/Pro...BCDRetracement
note no I have no affiliation with this website and this indicator is free not spamming. I have purchased a cpl of his products and have been very happy with the results.
  • #5,133
  • May 9, 2014 6:37am May 9, 2014 6:37am
Quoting DarkWolF
{quote} Indeed, but the trendline is another key area to be keeping an eye on. Been holding above that for some time now. {image}
Good Eye Wolf, Ill re examine! Thanks
  • #5,134
  • May 9, 2014 6:39am May 9, 2014 6:39am
Quoting DarkWolF
{quote} Indeed, but the trendline is another key area to be keeping an eye on. Been holding above that for some time now. {image}
Also Weekly looks to be present a pin bar at resistance

http://screencast.com/t/xmp6ckw0Pz
  • #5,135
  • May 9, 2014 6:41am May 9, 2014 6:41am
Quoting njodogg
{quote} Good Eye Wolf, Ill re examine! Thanks
Still solid support in that are you pointed out though. Holding above that key weekly support area.

As we know with the market anything can happen.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-1 09-05.jpg Size: 177 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,136
  • May 9, 2014 6:43am May 9, 2014 6:43am
Quoting DarkWolF
{quote} Indeed, but the trendline is another key area to be keeping an eye on. Been holding above that for some time now. {image}
This is why I exited where I did. It is hitting a support in an uptrend, but saying that, if today ends up being a big bearish candle, then we have 3 black crows and it should go down more. I don't have a clue what it will do, so got out .
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.PNG Size: 93 KB
  • #5,137
  • May 9, 2014 6:45am May 9, 2014 6:45am
Quoting jen101
{quote} This is why I exited where I did. It is hitting a support in an uptrend, but saying that, if today ends up being a big bearish candle, then we have 3 black crows and it should go down more. I don't have a clue what it will do, so got out . {image}
No one ever went broke taking a profit
  • #5,138
  • May 9, 2014 6:45am May 9, 2014 6:45am
Quoting jen101
{quote} This is why I exited where I did. It is hitting a support in an uptrend, but saying that, if today ends up being a big bearish candle, then we have 3 black crows and it should go down more. I don't have a clue what it will do, so got out . {image}
You just need to be happy with the pips that you take though. Too many traders get caught up in thinking what if....... looked what I could of got if I just held on and it broke down.

A good logical area to be taking the pips that is for sure.

Trade your plan, take you pips, look for next opportunity.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,139
  • May 9, 2014 6:46am May 9, 2014 6:46am
Quoting njodogg
{quote} No one ever went broke taking a profit
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,140
  • May 9, 2014 6:53am May 9, 2014 6:53am
GJ breaking short nicely now
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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