Forex Price Action

[rcreddyvanga]

GBP/CHF Sell Trade, forming BEEB at Key level 1.4800.

http://www.mql5.com/en/charts/1076281/gbpchf-d1-multibank-fx-international

[dudest]

Trades update:

a) EURUSD D1 BEEB: entry was 10pips below KHL 1.3400, not triggered. Seems the BEEB may be invalidated soon

b) NZDJPY D1 BEEB: trade triggered. Glad the NZDJPY is not following the way of the other JPYs (up)

c) GBPNZD D1 BUEB: has bobbed around quite abit but finally TP1 and TP2 hit yesterday. Moving towards TP3

Anyone still in the earlier AUD trades?

AUDUSD CT D1 BEEB

AUDSGD CT D1 BEEB

AUDCHF Range D1 BEEB

AUDCAD W1 BEEB

Should be making a killing now!, plummeting like rocks.

Cheers!

.

[dudest]

Update on that EURNZDH8-Trade

My first TP-Area got reached and I moved the SL of the remaining position to BE. This remaining Position got stopped out lately after. Price then went off in the estimated direction and reached my second planed TP; sadly without me on board…

My plan was to hold a small portion and look for a breakout out of the second TP-Area and this seems to be a good idea…but again, without me on board for these pips :49:

So, to recap this. I hold to my plan which is good. Now I am struggeling with the move of the SL to BE which cost me a lot of pips. But in the end, when price reversed and touched my SL there was no way of knowing whether it will go south heavily or not, so it is good that I have not touched my SL!

Cheers

Hallo 555shoe,

Some nice trading there! Solid area, A+ setup and you followed your plan, kudos!

@Moving SL to BE: it’s a fine line, eh? Though overall, better a multitude of breakeven trades than solid losses. Without chips we can’t play.

A practical help though (with helping to improve knowing when to move to BE and when to wait) can be found by going through past setups ( there have been quite a few of late ), and seeing how they played out, and working out how you would have handled the SL. You will start seeing insights that you can apply immediately to your trade management.

Hope that is of help,

Cheers!

[tonyro44]

Good luck with the trade and everyone have a great week-nd.

[Kasravi]

GBP/CHF Sell Trade, forming BEEB at Key level 1.4800.

Chart GBPCHF, D1, 2013.11.22 14:34 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

Hi,

That was a great intra day catch and such a smooth mover. Well done.

Cheers

[Kasravi]

Trades update:

a) EURUSD D1 BEEB: entry was 10pips below KHL 1.3400, not triggered. Seems the BEEB may be invalidated soon

b) NZDJPY D1 BEEB: trade triggered. Glad the NZDJPY is not following the way of the other JPYs (up)

c) GBPNZD D1 BUEB: has bobbed around quite abit but finally TP1 and TP2 hit yesterday. Moving towards TP3

Anyone still in the earlier AUD trades?

AUDUSD CT D1 BEEB

AUDSGD CT D1 BEEB

AUDCHF Range D1 BEEB

AUDCAD W1 BEEB

Should be making a killing now!, plummeting like rocks.

Cheers!

.

Hi dudest,

You are just squeezing it in mate!
I closed my Aussie trade around 92ish,duh.

Well done with that GBP/nzd I totally missed out on that.

Cheers

[darthfrancis]

nice looking trades for monday.

usdsgd d1

gbpchf d1

aususd h4

thoughts?

Darth

[Kasravi]

@darthfrancis

nice looking trades for monday.

usdsgd d1

gbpchf d1

aususd h4

thoughts?

Darth

You nailed it, all great looking setups. I was looking at them myself, seeing some potential for the coming Week.

Cheers

[rcreddyvanga]

Thank you Kasravi

[jeffdsouza21]

Thanks for the start new conversion about the price action. nice topic to discuss.

damp proffing

[Will_Easton]

Hi everyone.

I have a question regarding support and resistance lines. In this thread I know we only use horizontal S&R lines, but in a trending market such as the CHFJPY, how would you mark horizontal lines? Is it acceptable to use trend lines in situations like this?

Thanks
Will

[Kasravi]

@Will_Easton

Hi everyone.

I have a question regarding support and resistance lines. In this thread I know we only use horizontal S&R lines, but in a trending market such as the CHFJPY, how would you mark horizontal lines? Is it acceptable to use trend lines in situations like this?

Thanks
Will

Hi will,

Good question, short answer is no. Simply because if there are any important levels you’ll pick them up
through classic S/R lines.

You see significance lies in cause which is simplicity that translates into transparency in a none linear market.

Hope that helps.

Cheers

[brettosm8]

Have really enjoyed reading this thread.

Does anyone have experience trading this approach from Australia where the time zone is like 16 hours ahead? In order to not stay up half the night do you only play off the daily TF or rather use alerts on the 4hrly? Response appreciated.

Thanks,
Brett

[bhops]

Have really enjoyed reading this thread.

Does anyone have experience trading this approach from Australia where the time zone is like 16 hours ahead? In order to not stay up half the night do you only play off the daily TF or rather use alerts on the 4hrly? Response appreciated.

Thanks,
Brett

I’m in NZ Brett so play mostly the Daily and usually get a crack at the H4 London open but also with some charts I can play the 12 and 8 hour which suits pretty well. Yes you will need alerts and have to get up occasionally but I find it relatively easy and don’t spend too much time in front of my charts.

[Faw_Rex]

@darthfrancis

nice looking trades for monday.

usaususd h4

thoughts?

Darth

I’m liking the AUDUSDH4, actually.

That strong move down has hit a hard wall at the 0.914 level which has acted as good support in the past, but the bar isn’t very commanding which is making me think twice…

I’m seeing the FTA around 0.922 for TP1 and the second around 0.928 for TP2.

If the reversal can take off it’s looking like a decent 100 pip move to the second take profit level, but I think it may struggle to hit TP2.

I don’t have much confidence in the strength of the Aussie at the moment

[sivricmarijan]

Trades update:

a) EURUSD D1 BEEB: entry was 10pips below KHL 1.3400, not triggered. Seems the BEEB may be invalidated soon

b) NZDJPY D1 BEEB: trade triggered. Glad the NZDJPY is not following the way of the other JPYs (up)

c) GBPNZD D1 BUEB: has bobbed around quite abit but finally TP1 and TP2 hit yesterday. Moving towards TP3

Anyone still in the earlier AUD trades?

AUDUSD CT D1 BEEB

AUDSGD CT D1 BEEB

AUDCHF Range D1 BEEB

AUDCAD W1 BEEB

Should be making a killing now!, plummeting like rocks.

Cheers!

.

I also took the NZDJPY trade but I’m currently losing money. I hope the price will continue to move down!

[sivricmarijan]

@darthfrancis

nice looking trades for monday.

usdsgd d1

gbpchf d1

aususd h4

thoughts?

Darth

Great trades…can’t wait for trading week to begin!

[anfearmor]

@Faw_Rex

I’m liking the AUDUSDH4, actually.

That strong move down has hit a hard wall at the 0.914 level which has acted as good support in the past, but the bar isn’t very commanding which is making me think twice…

I’m seeing the FTA around 0.922 for TP1 and the second around 0.928 for TP2.

If the reversal can take off it’s looking like a decent 100 pip move to the second take profit level, but I think it may struggle to hit TP2.

I don’t have much confidence in the strength of the Aussie at the moment

Good morning,

I hope it is ok to add my opinion on this one.

For me, this looks very bearish on the HTF daily and weekly with a S/R (.935) level already broken.

I am looking for a re test of the low at .885 (which is a previous reaction level) with a possible bounce or break:

I hope you all have a great Sunday,

Padraic

[darthfrancis]

Great trades…can’t wait for trading week to begin!

Thanks, I’m actually going to give the aususd a miss as I don’t think its commanding enough to compete with that down momentum the other too I think i will go for though. wish me luck.

Darth

[darthfrancis]

@Faw_Rex

I’m liking the AUDUSDH4, actually.

That strong move down has hit a hard wall at the 0.914 level which has acted as good support in the past, but the bar isn’t very commanding which is making me think twice…

I’m seeing the FTA around 0.922 for TP1 and the second around 0.928 for TP2.

If the reversal can take off it’s looking like a decent 100 pip move to the second take profit level, but I think it may struggle to hit TP2.

I don’t have much confidence in the strength of the Aussie at the moment

Totally agree dude giving it a miss myself. good luck though if you decide its for you.

Darth