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Price Action and Trading Discussion

  • #5,501
  • Sep 16, 2014 3:57am Sep 16, 2014 3:57am
jen, does that mean you consider that candle to be bearish engulf candle?
meaning it has to engulf the body, not the wick and tail (the shadows)?
  • #5,502
  • Sep 16, 2014 4:21am Sep 16, 2014 4:21am
Quoting csng69
jen, does that mean you consider that candle to be bearish engulf candle? meaning it has to engulf the body, not the wick and tail (the shadows)?
I take very little notice of candlestick patterns. I have found them mostly unreliable. The only one that I might consider is a pin bar, but only if that's on a higher TF and fits into my trade analysis.
  • #5,503
  • Sep 16, 2014 6:04am Sep 16, 2014 6:04am
Hi Guys,

Not too much going on for me again today. Still that AUDCAD short in play.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,504
  • Sep 16, 2014 6:09am Sep 16, 2014 6:09am
Quoting DarkWolF
Hi Guys, Not too much going on for me again today. Still that AUDCAD short in play.
I think that should get there .
  • #5,505
  • Sep 16, 2014 6:16am Sep 16, 2014 6:16am
Quoting csng69
what do you guys think about GU daily? the way i see it: (a) downtrend overall (b) strong S/R zone at 1.627 and near BRN 1.63 (c) NOT a strong engulfing bearish bar i would love to go short, however item (c) above just doesn't appeal to me. what do you guys think? i would love to hear opinions from experienced traders. {image}
Hi Csng69,

A few areas on the chart that come to my eye.

Yes definately the gapping area came into play at the level you mentioned.

Personally nothing too much for me to look at on this one for now. I would still have a longer term bearish sentiment, but there is still potential for it to pullback further also before a continuation.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,506
  • Sep 16, 2014 6:17am Sep 16, 2014 6:17am
Quoting jen101
{quote} I think that should get there .
Ya' I have been so close to pulling the trigger on it and locking in the pips and if I was at the PC when it had pushed down on the last bar I probably would have.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,507
  • Sep 16, 2014 6:18am Sep 16, 2014 6:18am
Quoting jen101
Thanks Dwolf. For the record, I didn't cancel the EURJPY order and the trade is active, though going nowhere for now. It has to be BOJ and Draghi battling it out to be bottom dog... This is what I have my eye on this morning: {image} {image}
Certainly good levels there Jen.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,508
  • Sep 16, 2014 6:22am Sep 16, 2014 6:22am
EURUSD 4 Hourly:

One that I am keeping an eye on, assuming I am around when anything does happen
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,509
  • Edited 7:16am Sep 16, 2014 6:45am | Edited 7:16am
Quoting jen101
{quote} It will probably go down a bit, but there is recent support at 1.6105, so you might want to get out before then. Looking at the bigger picture there is further support at around 1.5930. Good luck.
Now seems a good time to short GU if you're thinking about it. GBP was buoyed this morning by a favourable CPI; now it appears downward move has resumed.

Edit: Is this what's going to happen now?
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  • #5,510
  • Sep 16, 2014 8:07am Sep 16, 2014 8:07am
Quoting DarkWolF
AUDCAD 4 Hourly: Had a pending order in the market for this pair also. I was going to cancel it when AUDUSD got hit and this one didnt. However I didnt and left it there. Has now been trigered but sitting with a small drawdown at the moment. {image}
Target area achieved on AUDCAD 4 hourly short position.

Took some time but finally got there.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,511
  • Sep 16, 2014 8:13am Sep 16, 2014 8:13am
Quoting DarkWolF
{quote} Target area achieved on AUDCAD 4 hourly short position. Took some time but finally got there. {image} {image}
Told you
  • #5,512
  • Sep 16, 2014 8:15am Sep 16, 2014 8:15am
Quoting jen101
{quote} Told you
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,513
  • Sep 16, 2014 9:46am Sep 16, 2014 9:46am
if 6 hours later, when AN daily candle is closed as shown in image below, would you guys go long?

the way i see it:
(a) AN uptrend overall
(b) bullish candle formed (assuming 6 hours later candle is closed as shown in image below) at S/R zone 1.101 or BRN 1.1

comments and feedback are welcome.
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  • #5,514
  • Sep 16, 2014 9:53am Sep 16, 2014 9:53am
Quoting csng69
if 6 hours later, when AN daily candle is closed as shown in image below, would you guys go long? the way i see it: (a) AN uptrend overall (b) bullish candle formed (assuming 6 hours later candle is closed as shown in image below) at S/R zone 1.101 or BRN 1.1 comments and feedback are welcome. {image}
Look on the weekly and you have a bearish engulfing .
  • #5,515
  • Sep 16, 2014 10:01am Sep 16, 2014 10:01am
Quoting jen101
{quote} Look on the weekly and you have a bearish engulfing .
hmmm okay.. now that's tricky
  • #5,516
  • Sep 16, 2014 11:28am Sep 16, 2014 11:28am
Gosh look at GU! Lucky that was not part of my trading plan, so didn't trade it!
  • #5,517
  • Edited 7:13am Sep 17, 2014 6:52am | Edited 7:13am
DW.. as usual.. where to get out?? ur idea?
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  • #5,518
  • Sep 17, 2014 7:08am Sep 17, 2014 7:08am
1 win and 1 loss today, but the win was 1.7 times the loss . Eurjpy hit SL.
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  • #5,519
  • Sep 17, 2014 7:11am Sep 17, 2014 7:11am
Quoting Pradarp
DW.. as usual.. where to get out?? {image}
I would get out by 1.806 .
  • #5,520
  • Sep 17, 2014 9:02am Sep 17, 2014 9:02am
Just a little reminder to all the non-Brits here ; tomorrow is the Scottish independence vote, so GBP pairs could be absolutely crazy. I'm avoiding them all for now...
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