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intraday trend trading with price action

  • #1,141
  • Feb 26, 2010 10:20am Feb 26, 2010 10:20am
Quoting MJurban
i think thats absolute correct, but in times the corrective wave becomes an impulse wave and that changes the direction.
You cannot know this and cannot prdict this all you need is a good stoploss
yes we do know.
  • #1,142
  • Feb 26, 2010 10:21am Feb 26, 2010 10:21am
Quoting the novice
Hi Sho

Thanks for the reply.

I have indicated on the chart short yellow lines. The first showed a up line, second showed a short corretive wave.
I thought that the third line should be a resumption of the impulsive wave, which means the trade should go long.

BTW what is the difference between impulsive wave and trend?
I thought that impulsive wave is the short term trend, and we have to trade with the trend, and not against it?

Appreciate your help.
you drew the impulsive moves wrongly.
  • #1,143
  • Edited 10:30am Feb 26, 2010 10:23am | Edited 10:30am
Quoting trade price
yes we do know.

very interisting, that would help me a lot

Edit: looking at the chart , i think i got it, when the corrective wave breaks the low of the impulse wave, then it a new impulsewave to the downside
  • #1,144
  • Feb 26, 2010 10:25am Feb 26, 2010 10:25am
dave can you draw the impulsive moves for me .
it will be good practice .
if its wrong i will correct you
  • #1,145
  • Feb 26, 2010 10:27am Feb 26, 2010 10:27am
Quoting the novice
Hi Sho

BTW what is the difference between impulsive wave and trend?
I thought that impulsive wave is the short term trend, and we have to trade with the trend, and not against it?

Appreciate your help.
Hi the novice

I think an impulsive wave is part of a trend. I mean a series of impulsive and corrective movements make a trend in either upward or downward direction.
  • #1,146
  • Feb 26, 2010 10:32am Feb 26, 2010 10:32am
Quoting trade price
dave can you draw the impulsive moves for me .
it will be good practice .
if its wrong i will correct you

Give me a minute, I'll give it a try Sho.....
  • #1,147
  • Feb 26, 2010 10:32am Feb 26, 2010 10:32am
Quoting lazyFX
Hi the novice

I think an impulsive wave is part of a trend. I mean a series of impulsive and corrective movements make a trend in either upward or downward direction.
absolutely right.
but in the smaller time frame impulsive move is a trend.
thats why we use only one time frame.we would not get distructed with other time frame.
  • #1,148
  • Feb 26, 2010 10:34am Feb 26, 2010 10:34am
hey novice i do see lots of elliot moves on the chart
  • #1,149
  • Feb 26, 2010 10:42am Feb 26, 2010 10:42am
Quoting trade price
dave can you draw the impulsive moves for me .
it will be good practice .
if its wrong i will correct you
OK, this is my take on it Sho.....

Thanks for asking!

Edit: I think the confusion is arising from the area labelled A. It looks like a pull back to me but a higher low (new fractal) is not actually created so some people aren't counting this as a corrective move. Is there a solid definition of a corrective move Sho that will help us avoid this problem in furture?
Attached Image (click to enlarge)
Click to Enlarge Name: ImpCorr.GIF Size: 23 KB
  • #1,150
  • Feb 26, 2010 10:46am Feb 26, 2010 10:46am
Quoting MJurban
very interisting, that would help me a lot

Edit: looking at the chart , i think i got it, when the corrective wave breaks the low of the impulse wave, then it a new impulsewave to the downside

I see it now, just had to step back a little and look at the previous moves. Hey this might be one of those key postings that we need to preserve.
  • #1,151
  • Edited Feb 27, 2010 7:31am Feb 26, 2010 10:53am | Edited Feb 27, 2010 7:31am
see the chart now
Attached Image (click to enlarge)
Click to Enlarge Name: ImpCorr.GIF Size: 28 KB
  • #1,152
  • Feb 26, 2010 10:55am Feb 26, 2010 10:55am
Quoting CodeMeister
I see it now, just had to step back a little and look at the previous moves. Hey this might be one of those key postings that we need to preserve.
hey code can you draw few trend line on the chart for me
then it will help you and other to understand impulsive and trend defination
  • #1,153
  • Feb 26, 2010 11:09am Feb 26, 2010 11:09am
Quoting trade price
see the chart now
Hey Sho, fantastic lesson - thanks. I'm beginning to see why reading the waves is so important. It gets you looking for the PA signs at the correct time and you start to anticipate.
  • #1,154
  • Feb 26, 2010 11:10am Feb 26, 2010 11:10am
Quoting Sutts
OK, this is my take on it Sho.....

Thanks for asking!

Edit: I think the confusion is arising from the area labelled A. It looks like a pull back to me but a higher low (new fractal) is not actually created so some people aren't counting this as a corrective move. Is there a solid definition of a corrective move Sho that will help us avoid this problem in furture?
we dont use fractal .we use our eyes .
its not fractal otherwise every one will make money.
see the move then we see a inside bar thats why we will count it as a coorective.
in the lower time frame its a fractal
  • #1,155
  • Feb 26, 2010 11:11am Feb 26, 2010 11:11am
Quoting Sutts
Hey Sho, fantastic lesson - thanks. I'm beginning to see why reading the waves is so important. It gets you looking for the PA signs at the correct time and you start to anticipate.
yes my friend.
thats why impulsive is the key
  • #1,156
  • Feb 26, 2010 11:11am Feb 26, 2010 11:11am
hi sho,
i tried this but at the end im lost to many changes ??

red is correctiv and green = corrective becomes impulse
Attached Image
  • #1,157
  • Feb 26, 2010 11:18am Feb 26, 2010 11:18am
Quoting trade price
see the chart now

Hi Sho

you mentioned on your chart that 'now we know the corrective is ending when we see the break of inside bar...'.
That was my point.
So it is true that we know the corrective has become impulsive only when the IB is broken, and not before.

You see, my problem is on thinking that in a similar situation in future, if I see an IB at the same location, because the retracement is about 50%, I thought that this could still be a corrective wave and the IB should long.

Of course once the IB is broken short, the chances of a corrective turned implusive increases greatly.

My question is if there is any way to trade this or should we bracket trade it?
  • #1,158
  • Feb 26, 2010 11:18am Feb 26, 2010 11:18am
Quoting MJurban
hi sho,
i tried this but at the end im lost to many changes ??

red is correctiv and green = corrective becomes impulse
your chart
Attached Image
  • #1,159
  • Feb 26, 2010 11:21am Feb 26, 2010 11:21am
Quoting trade price
we dont use fractal .we use our eyes .
its not fractal otherwise every one will make money.
see the move then we see a inside bar thats why we will count it as a coorective.
in the lower time frame its a fractal

This is great...I think we need to frame this one and hang it on the wall - something really clicked with me today.

Thanks Sho and have a relaxing weekend.

Dave
  • #1,160
  • Feb 26, 2010 11:21am Feb 26, 2010 11:21am
Quoting trade price
your chart
thank you, great post, very helpfull
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