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Intraday price action trend trading

  • #301
  • Mar 4, 2010 3:27am Mar 4, 2010 3:27am
Quoting Buildcity
Great, you catch this A+ pb with 3rd strong down wave. I missed that one......... http://cdn.forexfactory.com/images/icons/icon8.gif
Sorry you missed it, but next time, hope you can get the bus on time.
  • #302
  • Mar 4, 2010 3:28am Mar 4, 2010 3:28am
Quoting francis2
Good trade actually you could have got back in on next candle looking at my chart aswell
Thank you, francis2
  • #303
  • Mar 4, 2010 3:30am Mar 4, 2010 3:30am
Quoting Milton
usdcad short: stopped out -15 pips
Hi Milton,

Your keltner channel doesn't looke like mine.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 49 KB
  • #304
  • Edited 3:57am Mar 4, 2010 3:35am | Edited 3:57am
Milton, thank u for the tip,
i short usdcad after the retracement, hope this works out better at least the SL is very small
Attached Image
  • #305
  • Mar 4, 2010 3:47am Mar 4, 2010 3:47am
Quoting lazyFX
Hi Milton,

Your keltner channel doesn't looke like mine.
YOu are also selling straight into a round number bouncy bouncy prices dont always touch
  • #306
  • Mar 4, 2010 3:48am Mar 4, 2010 3:48am
eurusd failed to make a new high i think impulsive now down, 10 min to news
  • #307
  • Mar 4, 2010 4:02am Mar 4, 2010 4:02am
Quoting lazyFX
Hi Milton,

Your keltner channel doesn't looke like mine.
Hi lazyFX
I have MT4 platform. Which platform do you use, because my Keltner Channel is set at 10 period like Sho said. I am chasing the price: do you mean, that there has been already too much downward candles?
  • #308
  • Mar 4, 2010 4:05am Mar 4, 2010 4:05am
Quoting francis2
YOu are also selling straight into a round number bouncy bouncy prices dont always touch
Yes francis2, you are right. I must admit, that until now I am losing with my forex trading. And I think it is, because I don't see all details.
  • #309
  • Mar 4, 2010 4:08am Mar 4, 2010 4:08am
Quoting Milton
Yes francis2, you are right. I must admit, that until now I am losing with my forex trading. And I think it is, because I don't see all details.
If I was you I,d put a round number indicator on your chart it is so easy to miss the levels even when youve got them on if your not concentrating 100%, you ll find several here on FF
  • #310
  • Mar 4, 2010 4:08am Mar 4, 2010 4:08am
Quoting MJurban
Milton, thank u for the tip,
i short usdcad after the retracement, hope this works out better at least the SL is very small
Hello MJurban. Why did you enter at this point? I have seen, that you have been successful. Congrats
  • #311
  • Mar 4, 2010 4:12am Mar 4, 2010 4:12am
Hi All,
Daily trade, moved to even now.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy-03-4-10.gif Size: 16 KB
  • #312
  • Mar 4, 2010 4:13am Mar 4, 2010 4:13am
Quoting Milton
Hello MJurban. Why did you enter at this point? I have seen, that you have been successful. Congrats
Hi Milton, thats how i understand Sho s methode.
After a retracement and if the sl is very small. The red line in my chart is the stoploss i placed in the order but thats not where i would have bailed out, I would manuelly close the trade as soon as it breaks the top of the Signalbar
  • #313
  • Mar 4, 2010 4:20am Mar 4, 2010 4:20am
I have seen, that my platform cheated me. I had my stoploss for the usdcad at 1.0322 (red arrow) and it has been "hit" at the blue bar with the red cross, but the high of this bar was only 1.0321.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 73 KB
  • #314
  • Mar 4, 2010 4:21am Mar 4, 2010 4:21am
Quoting Milton
Hello MJurban. Why did you enter at this point? I have seen, that you have been successful. Congrats
Another analogy that helped me milton is buy low sell high and vice versa thats the bit that takes a bit of getting your head round If you buy something for yourself you want it as cheap as poss dont you, well its the same here in a falling market buy on retraces trying to get in right at the top as it turns
Buy wholesale sell retail!
  • #315
  • Mar 4, 2010 4:42am Mar 4, 2010 4:42am
Quoting Milton
I have seen, that my platform cheated me. I had my stoploss for the usdcad at 1.0322 (red arrow) and it has been "hit" at the blue bar with the red cross, but the high of this bar was only 1.0321.
you have 4 pips spread with youre broker, so 1.0321 is 1.0325 ask
  • #316
  • Mar 4, 2010 4:42am Mar 4, 2010 4:42am
Quoting francis2
Another analogy that helped me milton is buy low sell high and vice versa thats the bit that takes a bit of getting your head round If you buy something for yourself you want it as cheap as poss dont you, well its the same here in a falling market buy on retraces trying to get in right at the top as it turns
Buy wholesale sell retail!
Thank you for the help. I have found a round number indicator.
  • #317
  • Mar 4, 2010 4:45am Mar 4, 2010 4:45am
Quoting MJurban
you have 4 pips spread with youre broker, so 1.0321 is 1.0325 ask
Sorry. I'm learning.
  • #318
  • Mar 4, 2010 5:30am Mar 4, 2010 5:30am
Quoting rtiger29
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.
not a nice entry but i will give it a try.
very small stop and its just under the previous support now resistant.
  • #319
  • Mar 4, 2010 5:32am Mar 4, 2010 5:32am
Quoting Milton
short usdcad
red arrow: enormous bearish pinbar (previous bar also a pinbar), strong rejection from lower Kband
strong downward momentum before
where you entered is too late.
dont chace the market it blow your account.
  • #320
  • Mar 4, 2010 5:43am Mar 4, 2010 5:43am
Quoting Milton
Hi lazyFX
I have MT4 platform. Which platform do you use, because my Keltner Channel is set at 10 period like Sho said. I am chasing the price: do you mean, that there has been already too much downward candles?
My platforms are FXDD and ODL.

I mean you entered short right in the middle of the market selling off. That's why I thought you were chasing the market.
No one knows, but the sell-off may be almost done when you go short. If you see the market having already moved a certain distance in one direction, I think you are too late to enter the market. It's always safe to wait for retracement, and only enter the market after confirming the price has resumed the previous trend.
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