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Price Action and Trading Discussion

  • #5,401
  • Sep 3, 2014 4:42pm Sep 3, 2014 4:42pm
Quoting DarkWolF
EURUSD 4 Hourly: A simple line on chart can tell us so much. Can you train your eye to identify these levels ? {image}
I was wondering, do you look at candle sizes to determine the strength of a breakout? So EURUSD is in a down trend right now because, overall, it's posting lower highs and lows. The two blue horizontal lines drawn would mark zones where price is likely to rebound or break out. If the price breaks out with a strong bullish candle, would you give it more weight in the sense that the buying and selling outlook changed? A bigger bullish candle is a better sign of a reversal than multiple smaller bullish candles?
  • #5,402
  • Sep 4, 2014 5:39am Sep 4, 2014 5:39am
Quoting jhehe
{quote} I was wondering, do you look at candle sizes to determine the strength of a breakout? So EURUSD is in a down trend right now because, overall, it's posting lower highs and lows. The two blue horizontal lines drawn would mark zones where price is likely to rebound or break out. If the price breaks out with a strong bullish candle, would you give it more weight in the sense that the buying and selling outlook changed? A bigger bullish candle is a better sign of a reversal than multiple smaller bullish candles?
Hi Jhehe,

Apologies for a late reply have been a little busy today really only getting a first look at all things charts etc now.

For me I tend not to play straight breakout trades too often. I tend to wait for the break out to happen, then look for pullback continuation to take place. If and when this takes place then I am looking at bar sizes, bar types, chart patterns, overall market level and the overall biggger picture on higher time frames.

I look for reasons as to why the support and resistance level has the potential to hold rather than a straight break out. But in saying that yes generally I would like to see a bigger bullish or bearhish candle rather than multiple smaller ones.

But for a continuation in the dirction of the trend, multiple small bars as a market "pause" is absolutely fine.

Does this answer your question ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,403
  • Sep 4, 2014 5:43am Sep 4, 2014 5:43am
Checking out my watchlists for the first time today, been a bit busy and not much spare time to check out the charts.

Let's see what is going on
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,404
  • Sep 4, 2014 6:55am Sep 4, 2014 6:55am
AUDJPY 4 Hourly:

Long positon on this pair. Looking for price to push up from the RN area.

Close enough to my line and within my target "area"
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY 4 Hourly 04-09.jpg Size: 153 KB
Click to Enlarge Name: AUDJPY 4 Hourly TP 04-09.jpg Size: 171 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,405
  • Sep 4, 2014 6:58am Sep 4, 2014 6:58am
Quoting DarkWolF
AUDJPY 4 Hourly: Long positon on this pair. Looking for price to push up from the RN area. Close enough to my line and within my target "area" {image} {image}
DarkWolf
Thanks again for your posts. Are you post the positions only after they are finished? I mean it seems you never post them when they are getting into trigger areas.
  • #5,406
  • Sep 4, 2014 7:04am Sep 4, 2014 7:04am
Quoting Kouroushi
{quote} DarkWolf Thanks again for your posts. Are you post the positions only after they are finished? I mean it seems you never post them when they are getting into trigger areas.
Hi Kouroushi,

If you look back there are the occassional one that I post either before the fact or during the postion after taking it or at pending stage.

I do however feel a little cautious about posting before the fact or at the start of the trade due to fact if someone was to copy one of my trades and then it was to be a losing position it does make me feel bad just thinking about it.

I know that every trader is repsonsible for their own decisions I am just a little too cautious around it perhaps.

However what I do hope is that traders can see what I am doing and how I am trading by checking out the charts that I post.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,407
  • Sep 4, 2014 7:07am Sep 4, 2014 7:07am
USDJPY 4 Hourly:

I was looking at this pair for a potential long trade also. I opted for the AUDJPY position rather than this one.

I do like to keep an eye on the ones that I opt out of to see how they would of went.

AUDJPY was trading more away from the RN with USDJPY having to break through it.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 4 Hourly.jpg Size: 194 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,408
  • Sep 4, 2014 7:12am Sep 4, 2014 7:12am
Two more lots of high impact data in the next 20 mins ish.

Pays to be cautious with your positions espcially over the next couple of days with the data coming out.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,409
  • Sep 4, 2014 7:15am Sep 4, 2014 7:15am
Quoting DarkWolF
USDJPY 4 Hourly: I was looking at this pair for a potential long trade also. I opted for the AUDJPY position rather than this one. I do like to keep an eye on the ones that I opt out of to see how they would of went. AUDJPY was trading more away from the RN with USDJPY having to break through it. {image}
Dark,
Post "in advance ones" more please, that way educational aspects of your works would be even better, cause we can follow the price action instead of looking back for it. Everyone is responsible for his own decisions.
Anyway, what's your idea on GBPNZD which in my view is in a triangle. How would you trade the breakout?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdh4.png Size: 46 KB
  • #5,410
  • Sep 4, 2014 7:23am Sep 4, 2014 7:23am
Quoting Kouroushi
{quote} Dark, Post "in advance ones" more please, that way educational aspects of your works would be even better, cause we can follow the price action instead of looking back for it. Everyone is responsible for his own decisions. Anyway, what's your idea on GBPNZD which in my view is in a triangle. How would you trade the breakout? {image}
For me when trading breakouts from this type of pattern I would simply trade the break of the bar that breaks the pattern or to be a little more conservative I would wait for a pullback and look for a potential continuation reason.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 230 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,411
  • Sep 4, 2014 7:25am Sep 4, 2014 7:25am
I do tend to look more for horizontal support and resitance areas.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,412
  • Sep 4, 2014 7:30am Sep 4, 2014 7:30am
A random chart picked and I drew some horizontal areas on there.

Your eyes should be drawn to these areas where price reacts.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 159 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,413
  • Sep 4, 2014 7:31am Sep 4, 2014 7:31am
Do not overthink it.... Keep it simple !!!
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,414
  • Sep 4, 2014 7:52am Sep 4, 2014 7:52am
Quoting DarkWolF
Do not overthink it.... Keep it simple !!!

Following you
  • #5,415
  • Sep 4, 2014 8:02am Sep 4, 2014 8:02am
Quoting Kouroushi
{quote} Following you
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,416
  • Sep 4, 2014 9:53am Sep 4, 2014 9:53am
hi everyone.. one of my trade.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR NZD ff.png Size: 83 KB
  • #5,417
  • Sep 4, 2014 9:49pm Sep 4, 2014 9:49pm
Looking at USDCAD right now, what do you think? Trendline to hold?

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-h1-international-capital-markets.png Size: 44 KB
  • #5,418
  • Sep 4, 2014 9:57pm Sep 4, 2014 9:57pm
Quoting DarkWolF
{quote} Hi Jhehe, Apologies for a late reply have been a little busy today really only getting a first look at all things charts etc now. For me I tend not to play straight breakout trades too often. I tend to wait for the break out to happen, then look for pullback continuation to take place. If and when this takes place then I am looking at bar sizes, bar types, chart patterns, overall market level and the overall biggger picture on higher time frames. I look for reasons as to why the support and resistance level has the potential to hold rather...
No problem! I'm just glad to see you keep this thread alive, it's already very informative. Yes, it does answer my question. I guess experience will tell.
  • #5,419
  • Sep 5, 2014 4:37am Sep 5, 2014 4:37am
Quoting Pradarp
hi everyone.. one of my trade. {image}
Nice work Pradarp
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,420
  • Sep 5, 2014 4:44am Sep 5, 2014 4:44am
Quoting jhehe
Looking at USDCAD right now, what do you think? Trendline to hold? {image}
Check out the daily chart that may give you a different overview.

Looking at it from a lower TF perspective however, I would like to see it break and hold above the 1.0900 level before having a longer term bullish bias.

However today is NFP day I would be cautious with and USD crosses.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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