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intraday trend trading with price action

  • #861
  • Feb 24, 2010 5:31am Feb 24, 2010 5:31am
Is any one in USDJPY Short?
  • #862
  • Feb 24, 2010 5:32am Feb 24, 2010 5:32am
Quoting adler
Is any one in USDJPY Short?
I am.
  • #863
  • Feb 24, 2010 5:36am Feb 24, 2010 5:36am
Looks like a good entry:
Values to look out for:
89.92 double bottom can bounce!
89.97 Previous bounce point.
if Breaks downside : then Target1: 89.40
if Breaks downside : then Target2: 89.00
  • #864
  • Feb 24, 2010 6:47am Feb 24, 2010 6:47am
Just got 23 out of this one:
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_1.GIF Size: 19 KB
  • #865
  • Feb 24, 2010 7:06am Feb 24, 2010 7:06am
That looks like a good one Sutts.
  • #866
  • Feb 24, 2010 7:10am Feb 24, 2010 7:10am
Quoting ukcool
That looks like a good one Sutts.
Thanks UK. I was pleased with it because it was the first time I've taken a trade with a stop under 10 pips (6 actually).
  • #867
  • Feb 24, 2010 7:12am Feb 24, 2010 7:12am
Quoting the novice
Hi Sho

anything wrong with short at the arrow which did not work out?
Thanks.
of course you took the wrong A++++ setup. never ever play like that.

even anyone new oneday in trading they wouldnot play that as short.

have you seen the big exhaustion bars
see post #790 for exhaustion bar
in page 54 what did i told you guys yesterday. both charts reversed after the exhaustion.
  • #868
  • Feb 24, 2010 7:14am Feb 24, 2010 7:14am
Quoting Sutts
Just got 23 out of this one:
very good,

looks like it pays watching other pairs to.
  • #869
  • Feb 24, 2010 7:15am Feb 24, 2010 7:15am
Quoting Sutts
Just got 23 out of this one:
with small risk.great
did you take the before pinbar where impulsive become corrective?
  • #870
  • Feb 24, 2010 7:18am Feb 24, 2010 7:18am
Quoting jgadefelth
Thanks sutts yes it makes seens but it is mutch to consider and mutch to learn and things that is true sometimes nullifies other times because of other things to consider. I have a hard time with this because im stupid my work makes me stupid so .

Good thing You and sho and the other helpfull traders are here. It is mutch to learn but i believein this method.


best regards
make a set of rules guys.and trade acordingly to the rules.if you see anything else dont bother.follow your rules .trade like a machine(dont take it wrong way no overtrading)
  • #871
  • Feb 24, 2010 7:22am Feb 24, 2010 7:22am
Quoting Sutts
Just got 23 out of this one:
ok dave .with your picture i will show you how to take inside bar with small risk.even if you are wrong you will lose very small .not now later.
  • #872
  • Feb 24, 2010 7:22am Feb 24, 2010 7:22am
Sutts to be honest with you. This is also the first for me using small stoplosses.. In the past I have never had it smaller then 30pip.
  • #873
  • Feb 24, 2010 7:23am Feb 24, 2010 7:23am
we already reached 25000 views in rooki section
thanks guys
  • #874
  • Feb 24, 2010 7:31am Feb 24, 2010 7:31am
Quoting the novice
On the same GJ setup, I have added a blue dotted line to show the level of support which became resistance, off which the huge bullish bar rejected.
After I entered short, it seemed that the setup was valid as the next bar, which is an IB, too rejected the level.

Another setup occurred right after that.
It is the A+ setup which Sho mentioned, unless I am wrong again.

It is indicated by the pinbar marked by the green arrow, which rejected the middle line of the channel and went short. This setup was of course invalidated by the next bar which...
eventhough it occured after the inside bar breakout to upside it is an A+ setup only reason is clear price action.but it did not workout wait for the next one.
i belive you lost about 10 pips.but you saved your butt part of the trading
when you see exhaustion bars be vary carefull if you do take any trades use very small stop loss.
and get out when you see any reversal.

sho
  • #875
  • Feb 24, 2010 7:33am Feb 24, 2010 7:33am
Quoting FX_California
Sho:
Because of my time zone (PST) and full time day job, I don't get enough screen time while market is active (other than asian session). So, I think I should concentrate mainly on daily time frame. I know in the past, you have given few examples of daily chart. I will appreciate, if you please give few more trade example for the daily time frame with explanation.

Thanks in advance...

FX_California
hi california
post your charts with your question.i will try my best.
and yes i will post some higher time frame charts
  • #876
  • Feb 24, 2010 7:37am Feb 24, 2010 7:37am
Quoting pj.waterloo
Hi FxCalifornia

In fact I have the similar situation as yours. Hope to see more Daily trades from this thread.

Hi Sho

I am re-thinking of trading M15 due to the popularity in this thread thou the timing is not that favoring me.

For M15, pls. advise the risk:reward and SL:TP for each entry.

Thank you for your time.
hi pj
normaly target is double the size of stop loss or more than that.
maximum stop loss is about 15(its not hard rule)
  • #877
  • Feb 24, 2010 7:43am Feb 24, 2010 7:43am
where is victory.(he is making too much money)?
  • #878
  • Feb 24, 2010 7:47am Feb 24, 2010 7:47am
Hello Sho
Would you have taken the EURUSD short now after the three rejection bars or is the slope of the channel not strong enough to the downside?
  • #879
  • Feb 24, 2010 7:51am Feb 24, 2010 7:51am
normally i dont use stocastic for entry but when i see double bottom or double top then i confirm the top or bottom with stocastic.
stocstic is not for everything.there is a reson for any indicator you have to know which one and where to use it .
imho its only for div/con .not any other reason


sho
  • #880
  • Feb 24, 2010 7:51am Feb 24, 2010 7:51am
Quoting trade price
hi pj
normaly target is double the size of stop loss or more than that.
maximum stop loss is about 15(its not hard rule)
thanks, sho.
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