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Intraday price action trend trading

  • #281
  • Mar 3, 2010 7:46am Mar 3, 2010 7:46am
usd /chf
eur/usd
in the daily time frame they are changing directions.thats why market is bit nasty.most of the big players are now thinking opposite.i am not talking fandamentals. i am talking about what i can see on the charts
eur is holding its monthly 61% level.
  • #282
  • Mar 3, 2010 8:13am Mar 3, 2010 8:13am
Quoting Sutts
What kept you out of everything else please? Was it a lack of convincing impulse moves or something to do with ranging?

I'm trying to learn when to avoid trades like these.

Thanks
Hi Sutts

today is full of important news.
I can see that most pairs were ranging with no convincing move, only NZD/USD which I entered short after a definite trend has appeared.

I am now trading micro, not demo, so I suppose I am now more cautious.
  • #283
  • Mar 3, 2010 10:48am Mar 3, 2010 10:48am
Quick trade during lunch. Sutts I think this would qualify as an A+

UPDATE: out +25, dont have time to babysit this one have to get back to work.

Kurt
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-03-03_1145A+.png Size: 42 KB
  • #284
  • Mar 3, 2010 10:52am Mar 3, 2010 10:52am
Hey ukcool, did you get my PM?
  • #285
  • Mar 3, 2010 11:05am Mar 3, 2010 11:05am
Quoting the novice
Hi Sutts

today is full of important news.
I can see that most pairs were ranging with no convincing move, only NZD/USD which I entered short after a definite trend has appeared.

I am now trading micro, not demo, so I suppose I am now more cautious.
Thanks for that. I need to become more discerning like you. I got shot to pieces today.
  • #286
  • Mar 3, 2010 11:07am Mar 3, 2010 11:07am
Quoting TheRoper
Quick trade during lunch. Sutts I think this would qualify as an A+

UPDATE: out +25, dont have time to babysit this one have to get back to work.

Kurt
Very nice trade Kurt, keep it up!
  • #287
  • Mar 3, 2010 11:42am Mar 3, 2010 11:42am
Quoting TheRoper
Quick trade during lunch. Sutts I think this would qualify as an A+

UPDATE: out +25, dont have time to babysit this one have to get back to work.

Kurt
Im getting really confused here whast was the entry criteria for the trade?
  • #288
  • Mar 3, 2010 11:51am Mar 3, 2010 11:51am
Quoting francis2
Im getting really confused here whast was the entry criteria for the trade?
It is the pin bar before the large bearish bar.
  • #289
  • Mar 3, 2010 12:14pm Mar 3, 2010 12:14pm
Quoting the novice
It is the pin bar before the large bearish bar.
Depends on discretionary idea of a pin to me
  • #290
  • Mar 3, 2010 2:02pm Mar 3, 2010 2:02pm
Quoting francis2
Im getting really confused here whast was the entry criteria for the trade?
As I see it, you had a clear impulsive move down. The second retrace bar ( green) pierced the middle line of the keltner, ( around 50% retrace), couldn't hold and closed below it. This was your signal to go short.

Pardy
  • #291
  • Mar 3, 2010 2:21pm Mar 3, 2010 2:21pm
Quoting francis2
Im getting really confused here whast was the entry criteria for the trade?
Hi Francis,

I am a still learning here too but the attached chart shows my thinking when entering the trade.

Kurt
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-03-03_1145A+answer.png Size: 72 KB
  • #292
  • Mar 3, 2010 3:07pm Mar 3, 2010 3:07pm
Quoting TheRoper
Hi Francis,

I am a still learning here too but the attached chart shows my thinking when entering the trade.

Kurt
Thanks Kurt, yes Ive studied the chart in more detail and its now clearer
  • #293
  • Mar 3, 2010 7:33pm Mar 3, 2010 7:33pm
Quoting the novice
Hi lazy

do you have to be extra careful when trading asian since Sho said that the liquidity is not as great?
what time do you trade, after japan opens?
thanks.
Hi the novice,

Yes, I start watching the market around Tokyo market opening, maybe at GMT00:00 - 01:00. The price sometimes moves a lot within a few hours after it opened.

I think what I have to be extra careful about trading the asian session is suddenly dropping off into sleep due to lack of the liquidity.
Sho often says we should stay out of the asian market because the liquidity is low. I think it means even small orders could easily move the market either ways, so we have a high probability of being stopped out.
  • #294
  • Edited Mar 4, 2010 12:06am Mar 3, 2010 10:14pm | Edited Mar 4, 2010 12:06am
Morning

1st trade this mornig
It's probably a risky trade.

Edit: Short at the CLOSE of the bar, not open.

Edit 2: Out at 1.3683 for BE.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 40 KB
  • #295
  • Edited 12:43am Mar 4, 2010 12:24am | Edited 12:43am
2nd trade today

Short EURUSD again

Edit: This time worked out very well
Out for +20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 38 KB
  • #296
  • Mar 4, 2010 1:10am Mar 4, 2010 1:10am
Quoting lazyFX
2nd trade today

Short EURUSD again

Edit: This time worked out very well
Out for +20 pips
Great, you catch this A+ pb with 3rd strong down wave. I missed that one......... http://cdn.forexfactory.com/images/icons/icon8.gif
  • #297
  • Mar 4, 2010 1:29am Mar 4, 2010 1:29am
Quoting lazyFX
Morning

1st trade this mornig
It's probably a risky trade.

Edit: Short at the CLOSE of the bar, not open.

Edit 2: Out at 1.3683 for BE.
Good trade actually you could have got back in on next candle looking at my chart aswell
  • #298
  • Mar 4, 2010 2:05am Mar 4, 2010 2:05am
I was wondering if sho, would you take this trade. Would you go short at the beginning of the bar with the red arrow above it? I didnt take that trade, but im just curious if you would have taken it. Probably not. Not an A++ trade, thats for sure.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd15min.gif Size: 23 KB
  • #299
  • Mar 4, 2010 3:06am Mar 4, 2010 3:06am
short usdcad
red arrow: enormous bearish pinbar (previous bar also a pinbar), strong rejection from lower Kband
strong downward momentum before
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 20 KB
  • #300
  • Mar 4, 2010 3:25am Mar 4, 2010 3:25am
usdcad short: stopped out -15 pips
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