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intraday trend trading with price action

  • #1,161
  • Feb 26, 2010 11:22am Feb 26, 2010 11:22am
Quoting the novice
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...
no man where i entered corrective did not become impulsive.
corrective is corrective.
watch the same chart for about 20 mins and think
sho
  • #1,162
  • Feb 26, 2010 11:25am Feb 26, 2010 11:25am
Quoting trade price
no man where i entered corrective did not become impulsive.
corrective is corrective.
watch the same chart for about 20 mins and think
sho

Got it!
Thanks.
  • #1,163
  • Feb 26, 2010 11:27am Feb 26, 2010 11:27am
guys see you later.
i am off now.
bye!!!!!!!!!!!!!!!!!!!!!!!!!
sho
  • #1,164
  • Feb 26, 2010 11:28am Feb 26, 2010 11:28am
Quoting the novice
Got it!
Thanks.


sho
  • #1,165
  • Feb 26, 2010 11:30am Feb 26, 2010 11:30am
Quoting trade price


sho
Err...
You don't believe me?
It is actually a break of levels like you mentioned in the first few pages.
  • #1,166
  • Feb 26, 2010 12:14pm Feb 26, 2010 12:14pm
Hi All,

Impulsive move, moved stop to breakeven now. Thanks Sho for letting me see charts differently.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.02-17-10.gif Size: 14 KB
  • #1,167
  • Feb 26, 2010 1:04pm Feb 26, 2010 1:04pm
Late to the party again. Guess I'll go back and re-read everything.
  • #1,168
  • Feb 26, 2010 4:40pm Feb 26, 2010 4:40pm
WOW, missed the action today.

Sho, thanks for the charts today.

The new thread was a great idea.

I have lots of homework to catch up on over the weekend with the new books to read and charts to practice on.

See you guys next week, if my pesky day job does not get in the way.
  • #1,169
  • Feb 26, 2010 4:45pm Feb 26, 2010 4:45pm
See my analysis for yesterday i posted in this thread for Bank Shot and see results today
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Yesterday Analysis And see the results today.jpg Size: 154 KB
  • #1,170
  • Feb 26, 2010 5:05pm Feb 26, 2010 5:05pm
Amazing threath here, with very good people on it.
Trade Price, your lessons are fantastic, gone go thru the threath this weekend, to catch up and speak the same language you preach.
Good weekend all.

Cheers...
  • #1,171
  • Edited 7:19pm Feb 26, 2010 7:18pm | Edited 7:19pm
Quoting trade price
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

When I looked at the chart is was about 2 hours after what was shown here and I was practising my trade entries. This is what I saw in the second image.


In the first image is what I should have seen, namely that the up move had been in place for hours and was now on its final legs.
Attached Image (click to enlarge)
Click to Enlarge Name: ShoStudy3.png Size: 56 KB
Attached Image
  • #1,172
  • Feb 26, 2010 8:54pm Feb 26, 2010 8:54pm
Quoting patrick25
Hi All,

Impulsive move, moved stop to breakeven now. Thanks Sho for letting me see charts differently.
Hi patrick,
thank you for posting the chart
Do you know Sho opened a new thread for trade calls:

intraday trend trading with price action 2 active trading
i though i would not post any more thread but with request of others i am oppening another thread.
this thread is the second part of the main thread.here all the user can posts your live trades and help each other.
main thread is for annalyse the charts and teaching my methood
for the methhod read all the posts in main thread
main thread is -intraday trend trading with price action
if you have any question or anything post it in the main thread.
here mostly live calls.
  • #1,173
  • Feb 27, 2010 7:44am Feb 27, 2010 7:44am
hey guys
check the first page i just edited.
  • #1,174
  • Feb 27, 2010 1:33pm Feb 27, 2010 1:33pm
Just saw your post #1055. Wasn't a question. Your blue arrow was above a doji where I assume from a previous post you entered a short position. Adler had called a down move or rejection from resistance from a higher level and I had a position just exited from that move. Adler called another resistance point just below that doji earlier. Had I seen the doji I would have entered at the next bar on the break below the previous bars low or the resistance point. Total move was 30p+. Just a lament.
  • #1,175
  • Feb 27, 2010 1:35pm Feb 27, 2010 1:35pm
Thanks for the chart.
  • #1,176
  • Feb 27, 2010 3:59pm Feb 27, 2010 3:59pm
Quoting Bankshot
Just saw your post #1055. Wasn't a question. Your blue arrow was above a doji where I assume from a previous post you entered a short position. Adler had called a down move or rejection from resistance from a higher level and I had a position just exited from that move. Adler called another resistance point just below that doji earlier. Had I seen the doji I would have entered at the next bar on the break below the previous bars low or the resistance point. Total move was 30p+. Just a lament.
No problem my friend ...understood. Take care, Tex
  • #1,177
  • Feb 27, 2010 4:06pm Feb 27, 2010 4:06pm
Quoting adler
Hello Guys
Sorry in the previous post i forgot to attach the tool set

This is a template of FIBS I found in another thread in forex factory long time ago and which is BOBOKUS stuff...

I have been using this for my years of trading and I found it has the perfect tool to support this system.

Find attached is a template for MT4 with a FIB tool set

It has many different variety of fibs but I use H4 up move - support fib
H4 Down move resistence fib
and Intraday fib(green) and manual do them every morning before I start to look at charts.


Let...
Hi Adler,

Kinda lost with this. i addded your template to GU wkly chart, this is what I got. Sorry for being a dumbo, but what do i need to do next, how do i read this?

Thanks
Pardy
Attached Image (click to enlarge)
Click to Enlarge Name: gu wkly.gif Size: 22 KB
  • #1,178
  • Feb 27, 2010 4:28pm Feb 27, 2010 4:28pm
Hello Pardy
Load this template
Load the template and reduce the zoom and you should see 7 fibs,
Go to Mt4 Charts/Object list you should see 7 objects

Long term Fibs
Uptrend Fib - Daily Fib for uptrend
Downtrend Fib - Daily Fib for downtrend
Retracement Fib - Daily Fib for marking Retracement

Swing Fib - use it for current swing for analysis on the waves/retracements

Resistence Fib - 4hr - I use only this
Support Fib - 4hr - I use only this
Intraday Fib - 1Hr Previous day high low


It has many different variety of fibs but I use H4 up move - support fib
H4 Down move resistence fib and Intraday fib(green) and manual do them every morning before I start to look at charts.

Let me know if you guys need any help using them

Now what you have to do is load this tempate on a Weekly GBPUSD Chart
and if you want to draw a intraday fib you have to come to this tool set template chart (GBPUSD) and then select the FIB u want to use and the right click and select properties and FIB levels and then change the line size by doing this the default MT4 fib is changed to the select fib tool

Let me knwo pardy if you need any help
Attached File(s)
File Type: tpl fib tool set.tpl   6 KB | 382 downloads
  • #1,179
  • Feb 27, 2010 4:31pm Feb 27, 2010 4:31pm
Quoting CodeMeister
When I looked at the chart is was about 2 hours after what was shown here and I was practising my trade entries. This is what I saw in the second image.


In the first image is what I should have seen, namely that the up move had been in place for hours and was now on its final legs.
Hi Code ,What pair is this ? The reason i ask was just wondering if there could be a possible divergence coming down. I notice there is an inside bar right after your signal bar .

Tex
  • #1,180
  • Feb 27, 2010 4:58pm Feb 27, 2010 4:58pm
Hello Sho

Please help me with the waves, I am able to draw impulse and corrective waves. But one question? Do you trade only the 3rd wave , I mean always Impulse - Correction and then IB and 3rd wave starts and you enter you trade?

So I can assume you only trade 3rd wave?
Regards
Adler
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