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intraday trend trading with price action

  • #101
  • Jan 29, 2010 9:39am Jan 29, 2010 9:39am
Cool, got to take Mom to get her hair fixed. Be back later.
  • #102
  • Jan 29, 2010 9:39am Jan 29, 2010 9:39am
how many pips you need in a week?
  • #103
  • Jan 29, 2010 9:41am Jan 29, 2010 9:41am
Quoting Bankshot
Cool, got to take Mom to get her hair fixed. Be back later.
mom is important than money.
you are a good men
  • #104
  • Jan 29, 2010 9:55am Jan 29, 2010 9:55am
guys see my post #65
what i told you yestarday.
about gbp/usd daily chart.

this is the same chart with todays data
Attached Image (click to enlarge)
Click to Enlarge Name: 30.gif Size: 19 KB
  • #105
  • Jan 29, 2010 12:30pm Jan 29, 2010 12:30pm
You are so right my friend, mother is important.
  • #106
  • Jan 29, 2010 7:06pm Jan 29, 2010 7:06pm
This is the AUDUSD for the last 24 hours or so. A number of good looking trades, if I understand the setup properly. But maybe some of you have a different idea and I would like your feedback. The chevrons or triangular marks are the Fractal indicator which I find helpful to spot setups.
Attached Image (click to enlarge)
Click to Enlarge Name: Keltner2.png Size: 59 KB
  • #107
  • Jan 29, 2010 8:01pm Jan 29, 2010 8:01pm
Quoting CodeMeister
This is the AUDUSD for the last 24 hours or so. A number of good looking trades, if I understand the setup properly. But maybe some of you have a different idea and I would like your feedback. The chevrons or triangular marks are the Fractal indicator which I find helpful to spot setups.
my opinion
Attached Image (click to enlarge)
Click to Enlarge Name: Keltner2.png Size: 50 KB
  • #108
  • Edited 8:17pm Jan 29, 2010 8:12pm | Edited 8:17pm
Quoting trade price
my opinion

I have more confidence now. So big candles are a danger sign - good to know. The last 2 trades you pointed out were good setups, but I considered them to be too close to end of Friday trading. I don't understand why you like the setup at about 0630 - I don't see a pullback, just a continuation. A few bars earlier would have made some sense, but the down trend was a little long in the tooth.
  • #109
  • Jan 30, 2010 4:00am Jan 30, 2010 4:00am
Interesting.

I will pop in and follow along.

Thanks for sharing.

  • #110
  • Jan 30, 2010 9:02am Jan 30, 2010 9:02am
Quoting CodeMeister
I have more confidence now. So big candles are a danger sign - good to know. The last 2 trades you pointed out were good setups, but I considered them to be too close to end of Friday trading. I don't understand why you like the setup at about 0630 - I don't see a pullback, just a continuation. A few bars earlier would have made some sense, but the down trend was a little long in the tooth.
i know i wouldnt take those as well.
i just showed you whats in the chart.
when you see a unusual bar its a warning sign. trend can change or profit taking becuse people scare to lose the profit.
thats why most of the time trend reverse.
thats what i call momentum.
to be a profitable trader you must trade with THE momentum.
this is the SECRET of trading.


read my comment properly on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Keltner2.png Size: 44 KB
  • #111
  • Jan 30, 2010 9:18am Jan 30, 2010 9:18am
Hi TP,
You working the weekend?
  • #112
  • Jan 30, 2010 9:33am Jan 30, 2010 9:33am
Quoting Bankshot
Hi TP,
You working the weekend?
not realy.thought post something for you guys.
thread is doing very well.
i am glad people is finding helpfull.
it will save lots of peoples money.
people doesnot know what is trading about .
they alwasy look for a system,
thats why so many people loss the money.
i strugled so many years .
thats why i am sharing this with people .it wouldnt cost me anything .i love to share with people . if i can help a single people to become a better trader.
they will remember me as long as they trade the market.
good luck my friend.
  • #113
  • Jan 30, 2010 12:11pm Jan 30, 2010 12:11pm
Tradeprice:

I just stumbled on your thread. Little surprised to see it at the Rookie Discussion section. I am sure very soon, it will be moved to its right place. It looks great and really appreciate your time and selfless intention to help others. I will be now visiting regularly to gain knowledge from your experience. I am still struggling to find a way in trading.

Thanks,

FX_California
Quoting trade price
not realy.thought post something for you guys.
thread is doing very well.
i am glad people is finding helpfull.
it will save lots of peoples money.
people doesnot know what is trading about .
they alwasy look for a system,
thats why so many people loss the money.
i strugled so many years .
thats why i am sharing this with people .it wouldnt cost me anything .i love to share with people . if i can help a single people to become a better trader.
they will remember me as long as they trade the market.
good luck my friend.
  • #114
  • Jan 30, 2010 12:56pm Jan 30, 2010 12:56pm
Quoting CodeMeister
This is the AUDUSD for the last 24 hours or so. A number of good looking trades, if I understand the setup properly. But maybe some of you have a different idea and I would like your feedback. The chevrons or triangular marks are the Fractal indicator which I find helpful to spot setups.
I guess im more of an 4 hour/hour bar trader but every tick is important including the 15 min bars. The best trade i saw IMO is the failure of this whole counter trend movement.

I wasn't actively watching the AUD/USD but this is my take on it

The daily was and is defiantly in a down trend

Attached Image


Major failure of the support and a lot of ranging bars showed a lot of trapped traders who bought wishing on a reversal.

NEVER TRADE COUNTER TREND TILL A CLEAR TREND LINE IS BROKEN AND TESTED

Attached Image


There was a lot of buying once a support was recognized (Support A). Most longer term traders would not have gone long on this movement mainly because it was against the longer term trend and the best trades are with trend. Support B is another bull trap gaining strength before it reached the old A Support. Support C was where the trap was sprung. Support C was violated and bulls that had not taken profit all exited in mass. the failure of Support C was the best trade and if i would have been watching the hour bars i would have sold at this point this nice little juicy outside bar

Attached Image

This out side bar tell us a lot about what happened deeper in the price action we know that price moved upwards and many bought at the old highs thinking this was a long movement and then the bar closed near its low. So we have not only the people who went long at the failed highs but all the bulls who neglected to take profit or exit seeing a failed counter trend movement. Which on a fifteen min bar was support C!!!


This was a nice setup really im kinda mad i wasn't watching the market there were a lot of good trades Friday i was a little distracted. This is just my take on Friday. It would have been a very profitable trade too its at about 75 pips so far, but i would not have held it over the weekend.
  • #115
  • Jan 30, 2010 4:39pm Jan 30, 2010 4:39pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Mainly, I do not trade under a timeframe less then 1H because there is just to much 'noise' in the market on those short timeframes, making me nervous, emotional so to speak.

Longer timeframes is what works best for me, so I have added Keltner to my trading template and see it as a great add-on confirming tool.

I have attached cables trade of last Friday.

Signal (technically) confirmed by:
- Keltner, price rejected (no follow trough)
- 60MA, price rejected (no follow trough)
- Daily Pivot Line, price rejected (no follow trough)
- Signal in the direction of the 4H and daily (down)trend
- RSI -50
- Sidus-Bago (EMA crossing strategie)
- RVI crossing
- Sniper

Then later CCi, stoch crossing, ADX and break of lower Keltner confirmed that we are in for a longer ride. S1 and S2 of the day got broken. Reasons to stay "in" the trade.

Fundamental picture: before on the day, rating downgrade of the UK, later on the day, strong fundamentals for the USD=> GDP.

S&P and Dow Futures, oil and gold where all pointing lower as well, confirming demand for safe haven.

Result: friday close, + 180 pips (and still going)

Technical (1H timerframe, that is what works for me) and fundamental where picture all lined up.

Thanks for sharing your Keltner system with us Mr. "tradeprice", this is the real addded value that I am searching FF for.

"Price Action" is "King", technical indicators are there to read/confirm it.
Attached Image (click to enlarge)
Click to Enlarge Name: cable_keltnher.gif Size: 48 KB
Being right is one, taking it from the table is two.
  • #116
  • Jan 30, 2010 4:49pm Jan 30, 2010 4:49pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting FX_California
Tradeprice:

I just stumbled on your thread. Little surprised to see it at the Rookie Discussion section. I am sure very soon, it will be moved to its right place. It looks great and really appreciate your time and selfless intention to help others. I will be now visiting regularly to gain knowledge from your experience. I am still struggling to find a way in trading.

Thanks,

FX_California
...to-Rookie or not-to-Rookie...
Being right is one, taking it from the table is two.
  • #117
  • Jan 30, 2010 5:05pm Jan 30, 2010 5:05pm
Quoting Now
...to-Rookie or not-to-Rookie...
Post #115 doesn't belong in the Rookie section thats for sure.
  • #118
  • Edited 6:26pm Jan 30, 2010 6:14pm | Edited 6:26pm
Quoting trade price
i know i wouldnt take those as well.
i just showed you whats in the chart.
when you see a unusual bar its a warning sign. trend can change or profit taking becuse people scare to lose the profit.
thats why most of the time trend reverse.
thats what i call momentum.
to be a profitable trader you must trade with THE momentum.
this is the SECRET of trading.


read my comment properly on the chart.
I understand what you mean. The trade I questioned was the most difficult of all and I don't have enough confidence to take it. I am sure that with your experience, this seems easy and almost intuitive but some of us will question your reasons.

I would like to make a special request. Could you consolidate all of your important points in one posting. I have been following from the start and sometimes it is hard to remember about some of the details and now there are so many posts that I can't find what I want quickly. I am sure that it will be a great help to the thread's new comers. If you like, I can help with the English grammar and spelling - just PM me.
  • #119
  • Jan 31, 2010 8:48am Jan 31, 2010 8:48am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting CodeMeister
Post #115 doesn't belong in the Rookie section thats for sure.
Well, someone has to drop in the right posting for the thread to be moved to the right section... hmmm.
And finally does it matter, this thread is all about price action, what fx is about.
Actually, what is a Rookie ? hehe
Being right is one, taking it from the table is two.
  • #120
  • Jan 31, 2010 12:41pm Jan 31, 2010 12:41pm
Quoting Now
Mainly, I do not trade under a timeframe less then 1H because there is just to much 'noise' in the market on those short timeframes, making me nervous, emotional so to speak.

Longer timeframes is what works best for me, so I have added Keltner to my trading template and see it as a great add-on confirming tool.

I have attached cables trade of last Friday.

Signal (technically) confirmed by:
- Keltner, price rejected (no follow trough)
- 60MA, price rejected (no follow trough)
- Daily Pivot Line, price rejected (no follow trough)
- Signal in...
if it works for you, go for it.time frame is personal choice.
with price action u can trade any time frame, higher better.
my advise is dont forget the price action
i am glad you have found the value.
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