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intraday trend trading with price action

  • #501
  • Feb 17, 2010 10:27am Feb 17, 2010 10:27am
Quoting iak
Check this out from today
low risk trades
Attached Image (click to enlarge)
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  • #502
  • Feb 17, 2010 10:30am Feb 17, 2010 10:30am
Quoting trade price
check out the chart
Sho,

Can you pls give us some pointers to be able to recognise when a corrective wave becomes an impulsive wave, as you have shown. Particularly when you are trading, how do you recognise a corrective wave. If you enter on a corrective wave, that only in hindsight you can say became a impulsive wave. Are you looking at lower highs/ higher lows to make that determination?

Thanks
  • #503
  • Feb 17, 2010 10:33am Feb 17, 2010 10:33am
Good lessons learnt today. See you tomo for London session.
  • #504
  • Feb 17, 2010 10:37am Feb 17, 2010 10:37am
Quoting Pardy
Sho,

Can you pls give us some pointers to be able to recognise when a corrective wave becomes an impulsive wave, as you have shown. Particularly when you are trading, how do you recognise a corrective wave. If you enter on a corrective wave, that only in hindsight you can say became a impulsive wave. Are you looking at lower highs/ higher lows to make that determination?

Thanks
yes you have to use previous swing high and swing low to count impulsive moves and corrective moves.
while you you are trading see where price is reversing.
is it above or below the previous high or low.
sho
  • #505
  • Feb 17, 2010 2:55pm Feb 17, 2010 2:55pm
Sho,

Thanks for your teaching and time. I will appreciate if you explain in one of your chart, why are you considering a bar as signal bar (e.g it's pin bar, inside or outside bar, closed below the lower line of keltner channel etc.). Otherwise, I try to analyze the reason and very often I found that my analysis is wrong. I want to understand your analysis. You may take the example of the chart in post # 501.

Thanks,

-FX_California
Quoting trade price
low risk trades
  • #506
  • Feb 17, 2010 7:29pm Feb 17, 2010 7:29pm
Quoting FX_California
Sho,

Thanks for your teaching and time. I will appreciate if you explain in one of your chart, why are you considering a bar as signal bar (e.g it's pin bar, inside or outside bar, closed below the lower line of keltner channel etc.). Otherwise, I try to analyze the reason and very often I found that my analysis is wrong. I want to understand your analysis. You may take the example of the chart in post # 501.

Thanks,

-FX_California
i take pin bar or any other bar with trend, fib,support ,resistant, elliot or 123 formation.
you gonna lose the money if you dont know how to use them.

i combine them with everything .thats why move is so strong.
in 15 min time frame one bar but in smaller time frame its a swing high or swing low.
only this reason i dont need any other time frame i can see everything on one time frame.
when we see a swing high or swing low in 15 min time frame,it is one or two bar in the bigger picture.
chart is for you.
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  • #507
  • Feb 17, 2010 10:14pm Feb 17, 2010 10:14pm
sho:

Thanks a lot for your nice explanation. It makes so sense. This thread will be my regular place. There are few other good threads here but you are one of the very few people in FF who explains to every one, without any reservation. Thanks for your selfless work.

-FX_California


Quoting trade price
i take pin bar or any other bar with trend, fib,support ,resistant, elliot or 123 formation.
you gonna lose the money if you dont know how to use them.

i combine them with everything .thats why move is so strong.
in 15 min time frame one bar but in smaller time frame its a swing high or swing low.
only this reason i dont need any other time frame i can see everything on one time frame.
when we see a swing high or swing low in 15 min time frame,it is one or two bar in the bigger picture.
chart is for you....
  • #508
  • Feb 18, 2010 12:49am Feb 18, 2010 12:49am
hi SHO
just based on mementum

Good luck
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  • #509
  • Feb 18, 2010 3:50am Feb 18, 2010 3:50am
Quoting trade price
i dont trade asian sesion.i only trade 9:30 am to 17:00 london time .(dont trade 13:00 to14:00)
good morning Sho and all,
You start 9:30 , i think its GMT so that would be 10:30 and Frankfurt is already open 2:30 hours.
You shurely have a reason starting that late. Is it based on expirience?
Thanks for sharing and explanig.
The chart with the impulse and correction moves, wher correction becomes impulse and so on, has realy impressed me.

What i need a lot more, is practise the M15 chart.
I do not look at m5 s anymore until i realy feel comfortable with the m15.
  • #510
  • Feb 18, 2010 4:19am Feb 18, 2010 4:19am
hi guys
another setup
AUDUSD
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  • #511
  • Edited 5:04am Feb 18, 2010 4:53am | Edited 5:04am
I have gone long on eur/usd

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............Stopped out.
  • #512
  • Feb 18, 2010 7:51am Feb 18, 2010 7:51am
Thanks for making the effort to help us out Sho, this could really help me.
I've just picked up on your thread and tried a couple of trades which I post below. Were these OK trades? I took 20 pips on the first and I'm trailing the second for now.

The first trade was a rejection of the upper line, the second was a rejection of the middle line.

Is it the middle line or the outer lines that determine if the action is sideways? I've seen some setups where the middle line is just starting to turn into the direction of the potential trade but I've been unsure whether to take them or not.

Thanks again for your insights.
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  • #513
  • Feb 18, 2010 8:00am Feb 18, 2010 8:00am
Hello everyone,
Just popped in to check up. Looks like everybody is doing well. I'll be back in a coupple of hours to do my homework. Good hunting.
  • #514
  • Feb 18, 2010 8:31am Feb 18, 2010 8:31am
Quoting Victory83
hi SHO
just based on mementum

Good luck
nice trade vic
  • #515
  • Feb 18, 2010 8:47am Feb 18, 2010 8:47am
Quoting trade price
i take pin bar or any other bar with trend, fib,support ,resistant, elliot or 123 formation.
you gonna lose the money if you dont know how to use them....
another great post thank you very much sho.
now i do understand why one or two bar is signal bar.
  • #516
  • Feb 18, 2010 9:00am Feb 18, 2010 9:00am
Quoting Victory83
hi SHO
just based on mementum

Good luck
nice to see you again on the thread.you are helping others as well(IMHO)
victory you are taking all the money.please left some for me as well.
its my bread and butter.
where is codemeister he is a good trader.we can learn from him as well.
he deserve a vouch.
  • #517
  • Feb 18, 2010 9:07am Feb 18, 2010 9:07am
Quoting Sutts
Thanks for making the effort to help us out Sho, this could really help me....
good trades. as long as you do see clear price direction trade.otherwise dont. trust your eyes

sho
  • #518
  • Feb 18, 2010 9:09am Feb 18, 2010 9:09am
Quoting iak
I have gone long on eur/usd

Attachment

............Stopped out.
no price confarmation bar.
dont forget to use price confirmation.
  • #519
  • Feb 18, 2010 9:11am Feb 18, 2010 9:11am
Quoting Victory83
hi guys
another setup
AUDUSD
that was nice double bottom counter trend play.
keep going.
  • #520
  • Edited 9:50am Feb 18, 2010 9:14am | Edited 9:50am
Quoting trade price
nice to see you again on the thread.you are helping others as well(IMHO)
victory you are taking all the money.please left some for me as well.
its my bread and butter.
where is codemeister he is a good trader.we can learn from him as well.
he deserve a vouch.

I have been following and practising. I should be asking more questions especially about targets and exit points but I need to get my thoughts more organized. For a while I was getting lost with all the references to Fibo levels and Elliot wave stuff but those are just names for stuff I was noticing before. Its amazing what you can see if you don't put any indicators on. I'm not going to get caught up in figuring out the names and I suggest that some others do the same. What is important is to recognize what patterns are familar and avoid those that aren't.

Thanks for your kind comments and if anybody has any software or computer related questions, I can probably answer them. Please don't put them on this thread unless they are related to Sho's teachings.

Edit - the main thing I learned in the last 2 weeks - avoid those big candles. They are just an indication of too much strength and uncertainty and will cause grief. Sometimes they also are a sign of exhaustion which is also bad news unless you can identify it properly.
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