Forex price action trading

[momoNY]

mostly eurusd, but i do some trader other pair, but not much as eurusd. mostly gbpusd, eurjpy, audusd, usdjpy. mostly major, because now i consider price spread are vital. back then i trade as reversal type, so there's no need to executed many orders, just wait the right time to put single trade and rally the profit.
fx trade this day, high volatility, short daily range, forced me to change strategies to breakout one, and with this strategies any difference with spread are counted, because i have more order executed, means more spreads costed each trade. tight spread brokerage company it a must requirement nowadays, a fast execution also important. it's very different when i was a reversal positioning trader, any delay, even requotes i can deal with that, still gain profit. but now, change should made.

Good luck to you. What are your positions now?
Added a position short at 1.276, stop at 1.2842. Cross fingers! See chart daily EURUSD

 

[lubba]

had a sell stop at 1.2720m not yet executed for over 2 hours, and now the market seem put another undeniable pattern for sell order. i'll wait couple minutes for another re-test, another failure, would confirm short order execution.

 

[momoNY]

Closed one position at 1.2767, profit 93 pips, I shouldn't have! I will keep one position short until a clear turn arround is seen. I will short bounces with a n additional position going forward.

4 trades, Pofits: 130 pips, losses 76 pips P/L: 64 pips
2 winners, 2 losers.
Still one position on.

 

[lubba]

works like a charm.. just like you planned. well done.
as current price at a crucial level by now. awaiting stable movement below .26150 to confirm another bearish trend. as for now, i would stay away for a while for eurusd, sit and relax. planning on made some cash out from my trading account. last nite position are well gained, and that's would be enough for this month target. thanks to you.
other member should take part on this thread.

 

[momoNY]

Not so fast! It could be luck! I was planning to close the positions at 1.255 then reshort after a bounce, I did not do it! Now I am adding another position short at 1.2624 target 1.2524. The pull back should go up to retest the trend line. I will leave my core position until I see a strong reversal on the 4 hours, I'll see if it is a good move by the end of the day. It needs to break the lows this week if it wants go lower, if not then we could get a sideways market.

 

[momoNY]

Closed the added position at 1.2704 for 20 pips profit. The pullback looks a little strong for what I expected, I think we can have a small push up to 1.2760, I'll short again at 1.275 if it gets there. Still have one position on from 1.273

4 trades, Profits: 150 pips, losses 76 pips P/L: 84 pips
3 winners, 2 losers.
Still one position on.

 

[momoNY]

closed my good position at 1.26, 130pips profit but grrrrr! I will reenter on a pullback if there will be one!
5 trades, Profit: 280 pips losses 76pips P/L: +214 pips.
4 winners, 2 losers.

 

[lubba]

seems a good week to trade for eurusd. a movement at this ranging level seems trigger market volatility. move bit faster than usual day.

 

[momoNY]

Shorted half position at 1.2577 closed it at 1.2509 profit 68 pips consider it as half trade for a profit of 34pips
6 trades, profit 314 pips losses 76 pips, P/L 238 pips.
I failed miserably to stick to my plan due to fatigue! I shouldn't have closed my core position, I will reshort again on a nice pull back around 1.278.
The market did just as predicted, the low is taken before the end of the week, which suggests more downside to come, I think we will go below 1.22 by the end of the year!

 

[momoNY]

seems a good week to trade for eurusd. a movement at this ranging level seems trigger market volatility. move bit faster than usual day.

I was expecting volatility to come back at these lows, it seems like it is here. Now just short bounces until the trend turns around.