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Price Action and Trading Discussion

  • #5,581
  • Oct 21, 2014 7:56am Oct 21, 2014 7:56am
Quoting Kouroushi
{quote} Welcome back to your thread!!!
Thanks Kouroushi.

Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,582
  • Oct 21, 2014 2:49pm Oct 21, 2014 2:49pm
Attached Image (click to enlarge)
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This looks like a support turned resistance case and looking to go short.
  • #5,583
  • Oct 22, 2014 5:40am Oct 22, 2014 5:40am
Quoting jhehe
{image} This looks like a support turned resistance case and looking to go short.
Potentially.

Definately worth keeping an eye on that area.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,584
  • Oct 22, 2014 5:40am Oct 22, 2014 5:40am
Nothing so far for me for today's session.

Could simply be another day of no trades.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,585
  • Oct 22, 2014 7:56am Oct 22, 2014 7:56am
Surely EUR/USD is due a swing?
  • #5,586
  • Oct 22, 2014 8:15am Oct 22, 2014 8:15am
Attached Image (click to enlarge)
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Good move hopefully? Only I haven't been too sure of where my close target should've been and ended up trailing stop it.
  • #5,587
  • Oct 23, 2014 8:07am Oct 23, 2014 8:07am
Quoting jhehe
{image} Good move hopefully? Only I haven't been too sure of where my close target should've been and ended up trailing stop it.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,588
  • Oct 23, 2014 8:08am Oct 23, 2014 8:08am
Third session in a row now with simply nothing going on for me. Have been a bystander on the charts all week so far.

But that is the way it goes with trading at times.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,589
  • Oct 23, 2014 8:29am Oct 23, 2014 8:29am
Quoting DarkWolF
Third session in a row now with simply nothing going on for me. Have been a bystander on the charts all week so far. But that is the way it goes with trading at times.
Dark,
You used to take lots of successful trades during low volitality market of previous months in which so many people only lost.
Now with this moving one you don't find any???
  • #5,590
  • Oct 23, 2014 10:23pm Oct 23, 2014 10:23pm
AUDUSD short potential. I think wait to see how current bar closes and how next bar opens.

Attached Image (click to enlarge)
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  • #5,591
  • Oct 23, 2014 10:43pm Oct 23, 2014 10:43pm
EURCHF four hours chart
Attached Image
Jesus said: "Your faith has saved you."
  • #5,592
  • Oct 24, 2014 9:01pm Oct 24, 2014 9:01pm
Quoting Kouroushi
{quote} Dark, You used to take lots of successful trades during low volitality market of previous months in which so many people only lost. Now with this moving one you don't find any???
I have learnt over the years to be quite picky and patient Kouroushi. There is no need to be in the market all the time. It is not about how many trades you take but about how many profitable ones you take.

I have a strict set of trading rules and criteria that I trade by which have done me well over the last few years so that is what I stick by. This may mean that there will be periods of time (when trading 4 hourly and above) that there will simply be not trades to take. This is where the discipline to sit on your hands kicks in, and yes this can be hard. It pays to not sit at the charts for hours and hours looking at them as this is where many traders may "talk" themselves into taking positions that maybe doesnt quite fit their rules. Scan your charts and if no set ups move onto something different that may take up your time.

But in my opinion I am failing to see any recent movement, mostly what I see across my watchlists is congestion and market ranging. If you are a range trader then you will love this.

I havent really had the time lately to be getting up random charts to show what I am looking at the last month has been quite hectic for me, I am kinda getting to look at my watchlists at the times I need to for the bar closes and then move on. I am hopefull that over the next couple of weeks things will quiet down a bit for me with everything that I have going on and I can get some charts up.
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  • #5,593
  • Oct 24, 2014 9:04pm Oct 24, 2014 9:04pm
Quoting lulu6665051
EURCHF four hours chart{image}
Hi Lulu,

Potentially it may break, but it is certainly at a significant support area. For me I would wait for a break and retest for confirmation of support becoming resistance.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,594
  • Oct 24, 2014 9:09pm Oct 24, 2014 9:09pm
Quoting jhehe
AUDUSD short potential. I think wait to see how current bar closes and how next bar opens. {image}
Hi Jhehe,

The longer term certainly has been short. And I do believe it will continue to go short unless the RBA starts to increase interest rates here in Australia then we may see a different situation. .

However .8700 area is proving to be a strong support level previously tested in January. Price currently stuck in a range between the .8800 and .8700 area.

Again for me personally you could either trade from the top of the range down or wait for a break of the range and confirmation of retest.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,595
  • Oct 24, 2014 10:43pm Oct 24, 2014 10:43pm
Quoting DarkWolF
{quote} Hi Jhehe, The longer term certainly has been short. And I do believe it will continue to go short unless the RBA starts to increase interest rates here in Australia then we may see a different situation. . However .8700 area is proving to be a strong support level previously tested in January. Price currently stuck in a range between the .8800 and .8700 area. Again for me personally you could either trade from the top of the range down or wait for a break of the range and confirmation of retest.
True, I wasn't quite sure how the next few candles were going to play out. Didn't end up taking the trade. I was wondering if you can post a chart on GBPUSD? I think there's a 4 hour down trend, but I'm not sure.
  • #5,596
  • Edited Oct 25, 2014 12:19am Oct 24, 2014 11:35pm | Edited Oct 25, 2014 12:19am
Looking at GBPUSD H4, the price seems to be moving up to test the top line, I am not sure the resistant line i place is correct or not pls advise. and currently GBPUSD is still in clear down trend in daily and H4 right?

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  • #5,597
  • Oct 26, 2014 2:23am Oct 26, 2014 2:23am
Quoting jhehe
{quote} True, I wasn't quite sure how the next few candles were going to play out. Didn't end up taking the trade. I was wondering if you can post a chart on GBPUSD? I think there's a 4 hour down trend, but I'm not sure.
Hi Jhehe,

I hope you are having a great weekend.

Here are some of my thoughts for this pair.

The pair is most certainly in an overall downtrend but you can see price has stalled at the current support area and is simply going sideways. There is a few key areas on the chart that I would be keeping an eye on for short positions from providing the rules from your trading plan are met.

You can see from the daily chart why the current area has caused price to stall. It is a significant support area and from this you can clearly see the strength of the RN areas.

You can also see from the daily that price is simply congested within a small trading range.
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Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #5,598
  • Oct 26, 2014 9:59pm Oct 26, 2014 9:59pm
Thanks DarkWolF! Wasn't quite sure how to set up that chart.

Anyways, I think I may have spotted another ranging pair that would be good to trade the breakout.

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  • #5,599
  • Oct 27, 2014 5:57am Oct 27, 2014 5:57am
EURUSD 4 Hourly:

Pending short order on EURUSD has now been triggered.

Now to see how it plays out.
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  • #5,600
  • Oct 27, 2014 9:26am Oct 27, 2014 9:26am
Looks like USDJPY is a sell now

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