Price Action and Trading Discussion

EURUSD Daily:

Price breaking free of the recent congested area. Will we see the the congestion area act as resistance. Could end up with confluence of areas with trend line.

AUDUSD Daily:

Aussie dollar continues to remain within the current market range.

AUDJPY Daily:

Broke from the current market range, now to see if it holds and moves up to the next level.

EURJPY Daily:

Didnt break and hold on this move. Near term support if it doenst manage to break out.

Had to do some travelling today, just getting my first look at the charts. A couple of opportunities been waiting for on 4 hourly charts which missed entries on. Oh well... time to keep waiting.

I'll wait with you Been shorting NZDUSD after price broke under my supposed supposed. Glad I waited that one through.

GBPUSD 4 Hourly:

Put this pending order on a couple of days ago havent really had a chance to get back to post it as yet.

Took a little while but target area was achieved.

AUDJPY 4 Hourly:

Pending order in place for this pair. Has now been triggered.

Let's see how it plays out.

Not looking promising to start off with.

Hi Guys,

Well the end of another week is upon us. I hope you have all had a great week and are looking foward to the weekend. It is Friday night here in Aus. and I am certainly looking forward to the weekend. I have the wedding of close mate to attend which should be fantastic day and even better night

The AUDJPY long trade on the 4 hourly chart that I am still holding has simply done not much at all. Just moving sideways in some market congestion.

A chilled Friday night reviewing a few charts but at this point in time there does not look like too much that I will be trading, of course there is still a little over an hour until the next 4 hourly bar starts so anything can happen.

DarkWolf,
Thanks for your posts and have a good time at the wedding...
I'm gonna read your pre charts... They are valuable education...

Within 10 pips of the target line, but in the general "area" of my target.

Close enough for me on this one.

EURAUD 4 Hourly:

Short entry on this pair with price pushing below the latest market pause in the downtrend.

I did enter a break even position to make it a risk free trade and planned to let it run either way.

However just decided to bank the pips instead.

EURUSD Daily:

The trend is clearly down on EURUSD.

Price retested the gap from the previous weeks open as we quite often see price do, and then moved away.

The most recent market pause areas could act as short term resistance and if price pushes above the next logical area to keep an eye on is the daily trend line.

Clearly the 1.3000 area is a significant support area on this pair.

EURJPY Daily:

Will this be the break of the channel that will hold.

USDJPY Daily:

Thoughts on this pair

Hi Kouroushi,

No problems at all. I am glad you are finding my charts useful.

The wedding was certainly a great day. The next morning.... well different story....

GBPCAD 4 Hourly:

Hi Guys,

I put this pending order in last night before heading to bed with a target towards the previous lows.

It was great to see overnight price push down but was not quite at my pre determined line but at the RN level where price had previous stalled. I decided to bank the pips here and be done with the position. Price is currently sitting at the level of my line on the GBPCAD chart. But as with all things trading you cant get caught up on "what if" as it could just as easily bounced from that level that I closed the position at.

GBPAUD 4 Hourly:

Second position I set a pending order on last night before heading off to bed.

Again target area at the previous lows. Price had pushed down overnight, closed it out a little before my target again but between this and GBPCAD was happy with the pips to be banked.

Due to a speech from RBA Gov Stevens early on in the day there was some volatility around this with price easily reaching that target line and currently about 70 pips ish past it. But again there is no point worrying about what if's. Played this one and the GBPCAD with a little caution as both were already at sound support levels.

EURUSD 4 Hourly:

A simple line on chart can tell us so much.

Can you train your eye to identify these levels ?