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intraday trend trading with price action

  • #961
  • Feb 25, 2010 2:45am Feb 25, 2010 2:45am
Money loosing time guys market struggling as it has done good move during asian session and reached targets for most of the currencies and resistences/supports all over the place. If currencies move another 20 pips then they will have a direction

Now Bias USD - Short
EUR,AUD,GBP - Long

Lets see
  • #962
  • Feb 25, 2010 3:24am Feb 25, 2010 3:24am
Quoting matlobien
GU divergence ?
And the Master is right again.

Divergence does not help anything for entry.

  • #963
  • Feb 25, 2010 3:26am Feb 25, 2010 3:26am
Potential short on USD/CHF

Inside bar 3 bars back broke to upside though - could be risky?
  • #964
  • Feb 25, 2010 3:49am Feb 25, 2010 3:49am
Got stopped out at BE on EU after moving my stop loss when I had 10 pips profit.

Maybe to soon or is that the safe way ?

  • #965
  • Feb 25, 2010 3:51am Feb 25, 2010 3:51am
that looked like the start of the retrace Sutts
  • #966
  • Feb 25, 2010 4:22am Feb 25, 2010 4:22am
Short the USDCAD.
  • #967
  • Feb 25, 2010 4:37am Feb 25, 2010 4:37am
Well, I missed out on 30 pips on EU by moving SL maybe to early.

Waiting for next pb.

  • #968
  • Feb 25, 2010 4:41am Feb 25, 2010 4:41am
Quoting matlobien
Well, I missed out on 30 pips on EU by moving SL maybe to early.

Waiting for next pb.

That's just the way it is I'm afraid. Always control your risk first as Sho says. If you were risking 10 and you moved your stop to B/E at +10 then you did the right thing.
  • #969
  • Feb 25, 2010 4:42am Feb 25, 2010 4:42am
Quoting francis2
that looked like the start of the retrace Sutts
Francis, here's that trade I took on USDCHF. Did it look wrong to you?

Thanks

Dave
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF_1.GIF Size: 21 KB
  • #970
  • Feb 25, 2010 4:49am Feb 25, 2010 4:49am
Stopped out with -16 pips (live account) USDCAD. I already have reduced my 5600$ Live Account to 2165.71 $ since 23th of february 2009. Hope this method will put me on the road to winning. Like Sho I try to like to lose.
  • #971
  • Feb 25, 2010 4:53am Feb 25, 2010 4:53am
Quoting Sutts
Francis, here's that trade I took on USDCHF. Did it look wrong to you?

Thanks

Dave
Wonderful Sutts. I think I must train my eyes to see more opportunities.
  • #972
  • Feb 25, 2010 4:54am Feb 25, 2010 4:54am
Quoting Milton
Stopped out with -16 pips (live account) USDCAD. I already have reduced my 5600$ Live Account to 2165.71 $ since 23th of february 2009. Hope this method will put me on the road to winning. Like Sho I try to like to lose.
Sorry to hear that Milton. Which bar did you enter on, what was your stop and how far did it run in your favour first?

Dave
  • #973
  • Feb 25, 2010 4:56am Feb 25, 2010 4:56am
Quoting Sutts
That's just the way it is I'm afraid. Always control your risk first as Sho says. If you were risking 10 and you moved your stop to B/E at +10 then you did the right thing.
Thanks.

Good to hear I am thinking right.

  • #974
  • Feb 25, 2010 5:03am Feb 25, 2010 5:03am
Quoting Sutts
Sorry to hear that Milton. Which bar did you enter on, what was your stop and how far did it run in your favour first?

Dave
I entered at the yellow arrow a little bit late at 1.0540, with 6 pips spread it never come positive and stopped out at 1.0556. I put the stoploss 2 pips above the high of previous pinbar and thought I have to add 6 pips spread.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 23 KB
  • #975
  • Feb 25, 2010 5:30am Feb 25, 2010 5:30am
Guys up 15 pips right now, with GBPUSD

First target 1.5275

Second Target 1.5258
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD -Short.png Size: 128 KB
  • #976
  • Feb 25, 2010 5:38am Feb 25, 2010 5:38am
Quoting Milton
I entered at the yellow arrow a little bit late at 1.0540, with 6 pips spread it never come positive and stopped out at 1.0556. I put the stoploss 2 pips above the high of previous pinbar and thought I have to add 6 pips spread.
I think the bar to the left of the yellow arrow was a valid signal bar Milton. I guess you went short on the open of the bar with the arrow?

I usually like to wait for a pullback before entering but I've seen plenty of trades posted with those reverse pin bar thrusts into S/R at the lower channel line so I think you were just unlucky. Maybe wait next time to see if you can get an entry with less risk on the follow through of the next bar?
  • #977
  • Feb 25, 2010 5:50am Feb 25, 2010 5:50am
Quoting Milton
I entered at the yellow arrow a little bit late at 1.0540, with 6 pips spread it never come positive and stopped out at 1.0556. I put the stoploss 2 pips above the high of previous pinbar and thought I have to add 6 pips spread.
This is just what I thought about the trade you took, so plz forgive me if I am wrong.
Attached Image
  • #978
  • Feb 25, 2010 5:55am Feb 25, 2010 5:55am
Quoting lazyFX
This is just what I thought about the trade you took, so plz forgive me if I am wrong.
Good reading of pa behind the chart, I think.

Regards
Pardy
  • #979
  • Feb 25, 2010 5:58am Feb 25, 2010 5:58am
Sorry Sutts good trade I thought you were worried about the previous ib!
  • #980
  • Feb 25, 2010 6:02am Feb 25, 2010 6:02am
Quoting Pardy
Good reading of pa behind the chart, I think.

Regards
Pardy
Thank you. I hope my PA reading doesn't miss the point.
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