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intraday trend trading with price action

  • #321
  • Feb 11, 2010 8:46pm Feb 11, 2010 8:46pm
Hi trade price, thanks for sharing your methodology with us. It looks very interesting and I'm going to be practicing it in demo first, but I already have so much faith in it. Not sure I understand the Kelthner Channel, so I'll be reading up on it and analyzing charts to try to understand it.

Thanks again!
  • #322
  • Feb 11, 2010 9:33pm Feb 11, 2010 9:33pm
Hello Sho,
i saved all your charts in a seperate folder and still studing all of them.
Thank you for the great work its pure gold nuggets.

let see if i got it?
the actuel EU made 2 impulse shortmoves , (the blue rectangel,), but the second move could not make a new lower low.
That turned the keltner channel a bit upward and thats why EU is in a range now.
No trade at the moment
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  • #323
  • Feb 12, 2010 1:19am Feb 12, 2010 1:19am
i tried a little demotrade this night
1. short stopped with 6 pips loss
2. long closed with 15 pips win. This trade was closed before News and Frankfurt open at 7:00 GMT

the long was taken to late i guess, 2 bars before looks like a god open , what do think?
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  • #324
  • Feb 12, 2010 1:35am Feb 12, 2010 1:35am
Quoting trade price
kelthner is good it will save you a lot.
when market is flat it will guide you .
stop loss is just above the signal bar.
move the stop loss at break even after 1 st bar move and closed in my direction.for me risk first than profit.
normaly my target is double the size of stop loss. i am always ready to close the trade any time if some unusual price activity comes.
exit is depend on situation.if trend is strong i keep half until i do get stoped out.

check out the chart you asked for
i used the numbers so read them one after another you...
Thanks for the reply.

1) Your initial stop loss is "just above" the signal bar. Can you quantify "just above"? Is this % or number of pips above?

2) What is the "signal bar"? The pin bar or a price bar after the initial pin bar?

3) How do you determine setting the price target at double stop loss or elsewhere? Could you provide some scenarios?

4) Thanks for sharing the previous image. Can I ask why you entered this trade? It looks like the price was trending sideways? I say this as the Kelthner in the far left looks flat?
  • #325
  • Feb 12, 2010 1:53am Feb 12, 2010 1:53am
hi guys
USDCHF
EURUSD
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  • #326
  • Edited 2:40am Feb 12, 2010 2:29am | Edited 2:40am
short eu m5 chart, after retest the breakout
SL at B/E after 10 pips in profit

edit, 2. chart, closed at 22 pips win. maybe to early but not to bad for an friday mornig start
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  • #327
  • Feb 12, 2010 3:38am Feb 12, 2010 3:38am
again EURUSD
my favorite pair
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  • #328
  • Feb 12, 2010 4:17am Feb 12, 2010 4:17am
and.....
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  • #329
  • Feb 12, 2010 4:36am Feb 12, 2010 4:36am
Quoting pj.waterloo
I hope Sho & Traders do not mind if I can assist other newbies that may or may not relevant to this thread. I think being newbies before, I was hoping to have some good Seniors to guide. I am not saying I am one but thought just to help.

I got this ebook in FF somewhere long time ago. Hope this help all. (The credit should go to Lincoln).
Thanks guys,

I spent all the times with candle chart from the very beginning of my trading (stock and future previously, now the FX seems to be the most fit of my family / working life); but never touch pin bars for before. I read the pdf from waterloo about the pin bars which is very helpful for newbies. Especially when I prepared to learn more from this thread.

These few days, I removed all the indicators from charts, stick to M15 chart only, then played (actually real a/c, of course the min amount for trial) with candle (I am too old to switch to pin bars, haha), K Channel and Stoch only, seems the result is fine.

Thanks for the teaching from all seniors here.

A question comes up after read through the thread up to this moment:

1. The K. Channel seems to be a MA10 plus +/- 10 level as channel, I will invest more on this indi to see the different; (To PA18 - I will try the google too, tks for the remind)


PS - Lastly, english is not my mother language so forgive me if not understand my message

Buildcity
  • #330
  • Feb 12, 2010 4:37am Feb 12, 2010 4:37am
Quoting dmuk
Thanks for the reply.

1) Your initial stop loss is "just above" the signal bar. Can you quantify "just above"? Is this % or number of pips above?

2) What is the "signal bar"? The pin bar or a price bar after the initial pin bar?

3) How do you determine setting the price target at double stop loss or elsewhere? Could you provide some scenarios?

4) Thanks for sharing the previous image. Can I ask why you entered this trade? It looks like the price was trending sideways? I say this as the Kelthner in the far left looks flat?
for the signal bar read all the thread.study the charts.
did you study the chart i posted?on the chart i told you why i entered.
where i entered it was not sideway .did you see the impulsive moves than retrace.
i think you did not understand the chart.read one number after another on the chart.in no 1 i told you why i entered.than i gave you explanation step by step.
read the chart few time.you will be glad

happy trading
sho
  • #331
  • Feb 12, 2010 4:47am Feb 12, 2010 4:47am
guys Mjurban and Victory is takeing to much money from fx market..
keep some money for me as well guys.
  • #332
  • Feb 12, 2010 4:57am Feb 12, 2010 4:57am
Quoting Victory83
and.....
WOW, I am going to have to start getting up earlier or else you guys are going to take all the money
  • #333
  • Feb 12, 2010 5:10am Feb 12, 2010 5:10am
Hi Trade price, I like the thread I trade the same myself but using the 1 min charts I just find the pullbacks easier to follow that way drawing trendlines under the pullback areas then waiting for break pullback then continuation
A question for you if I may, When looking for major support resistance areas do you use 1 hour or 4 hour timeframes then price low point or the closing price, for example now Ive got 1.3534 and 1.3523 and 1.3492 as the next areas for eur/usd
Also what criteria do you use for entry say now on eur/usd with it at the 1.3535 level if you were looking for a short bearing in mind the proximity of the levels I mentioned above
thanks, Francis
  • #334
  • Feb 12, 2010 5:50am Feb 12, 2010 5:50am
Quoting trade price
guys Mjurban and Victory is takeing to much money from fx market..
keep some money for me as well guys.
hi sho
and thanks again for your great thread. i follow it every hour and look for your new commnets.

Quoting TheRoper
WOW, I am going to have to start getting up earlier or else you guys are going to take all the money
there were lots of other suitable setups which i could not catch them cause i was busy.
i think there are more opportunity in the beginning of the UK market.
As sho mentioned momentum is the most important factor and we should consider it all time.
Good luck
  • #335
  • Feb 12, 2010 6:42am Feb 12, 2010 6:42am
there were lots of other suitable setups which i could not catch them cause i was busy.
i think there are more opportunity in the beginning of the UK market.
As sho mentioned momentum is the most important factor and we should consider it all time.
Good luck[/quote]

I agree it does appear the best setups occur during the London time. I am in the EST zone, London open is 3am for me . I have been getting up at 5am in time to catch a few.

Keep posting you trades they help all of us, good or bad.
  • #336
  • Feb 12, 2010 7:48am Feb 12, 2010 7:48am
hi
EURUSD

just for 20 pips (because its against the trend)
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  • #337
  • Feb 12, 2010 8:21am Feb 12, 2010 8:21am
Quoting Victory83
hi
EURUSD

just for 20 pips (because its against the trend)
hi sho and Victory83,

Isn't the bar you entered at a little late?

I guess you should have entered at one bar before you entered.
If I am wrong, plz correct me, cause I am now confused.

Thanks
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  • #338
  • Feb 12, 2010 9:20am Feb 12, 2010 9:20am
Quoting lazyFX
hi sho and Victory83,

Isn't the bar you entered at a little late?

I guess you should have entered at one bar before you entered.
If I am wrong, plz correct me, cause I am now confused.

Thanks
you are right lazyfx.other wise trade will reverse some time at the resistent and stop is too large for me.you are doing great lazy.
victory will be a good trader i can tell you that
check out the chart now.
by the way have you been busy?
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  • #339
  • Feb 12, 2010 9:30am Feb 12, 2010 9:30am
Quoting lazyFX
hi sho and Victory83,

Isn't the bar you entered at a little late?

I guess you should have entered at one bar before you entered.
If I am wrong, plz correct me, cause I am now confused.

Thanks
hi lazyfx
i think it is better we wait for sho's opinion and thank you for your attention.
but i entered after price confirmation.
Good Luck
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  • #340
  • Feb 12, 2010 9:30am Feb 12, 2010 9:30am
Quoting Victory83
hi
EURUSD

just for 20 pips (because its against the trend)
if you enter at the right time you will have smaller stop loss and bigger profit.
you can move the stop to break even after one bar profit.
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