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Intraday price action trend trading

  • #441
  • Mar 11, 2010 8:57am Mar 11, 2010 8:57am
Long EUrJPY at 123.74; target around 124.00. Not an A grade setup but looks OK.
  • #442
  • Mar 11, 2010 9:07am Mar 11, 2010 9:07am
Quoting CodeMeister
Long EUrJPY at 123.74; target around 124.00. Not an A grade setup but looks OK.

It hit the overhead resistance around 123.85; took my exit at 123.86 for 12 pips. +7 for today, best so far this week.
  • #443
  • Mar 11, 2010 9:46am Mar 11, 2010 9:46am
Missing the Party Today, Have been on a plane all day, getting on another connection now.

Good Luck to you all, wishing I could trade.

Kurt
  • #444
  • Mar 11, 2010 12:30pm Mar 11, 2010 12:30pm
Quoting CodeMeister
It hit the overhead resistance around 123.85; took my exit at 123.86 for 12 pips. +7 for today, best so far this week.
that was not bad.
possitive day thats what we all want.
  • #445
  • Mar 11, 2010 12:32pm Mar 11, 2010 12:32pm
Quoting Buildcity
Today 4 trades so far, 3+ & 1-, total +22pips, keep watching, waiting a short chance nowhttp://cdn.forexfactory.com/images/icons/icon8.gif
very good result
  • #446
  • Mar 11, 2010 4:07pm Mar 11, 2010 4:07pm
Quoting trade price
that was not bad.
possitive day thats what we all want.

Well I haven't had any losing days for several weeks, but 2 and 5 pip days feels like losing, especially when it takes as much effort to make 2 as to make 20.
  • #447
  • Mar 11, 2010 9:42pm Mar 11, 2010 9:42pm
Shorted G/J at arrow shown.
Stopped out at orange line for +24.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 16 KB
  • #448
  • Mar 11, 2010 9:59pm Mar 11, 2010 9:59pm
Quoting CodeMeister
Well I haven't had any losing days for several weeks, but 2 and 5 pip days feels like losing, especially when it takes as much effort to make 2 as to make 20.

i know what you feel, its the same here.
last week only little profit and this week also looks poor by now but its not over yet.
last week i missed a lot and i dit some bad mistakes otherwise the profit would have been better.
this week i am much better but the market is slow, specially eurusd my favorite pair causs less then 1 pip spread.
hope euro will show more movement next week
  • #449
  • Mar 11, 2010 10:02pm Mar 11, 2010 10:02pm
Quoting MJurban
i know what you feel, its the same here.
last week only little profit and this week also looks poor by now but its not over yet.
last week i missed a lot and i dit some bad mistakes otherwise the profit would have been better.
this week i am much better but the market is slow, specially eurusd my favorite pair causs less then 1 pip spread.
hope euro will show more movement next week
I think Sho mentioned that E/U is ranging without direction.
Could be better next week as it looks like it is waking up slowly.
  • #450
  • Mar 11, 2010 10:09pm Mar 11, 2010 10:09pm
Quoting the novice
Shorted G/J at arrow shown.
Stopped out at orange line for +24.
Nice result, but I would hesitate to short as the K. Channel was still in up trend.

But GY is not in my watch list so you may get better feel on its pattern.

Cheers
Cityhttp://cdn.forexfactory.com/images/icons/icon7.gif
  • #451
  • Mar 11, 2010 10:31pm Mar 11, 2010 10:31pm
Quoting the novice
Shorted G/J at arrow shown.
Stopped out at orange line for +24.
nice trade,

i shortet usdchf this morning
1. trade -7 pips , was another false entry. i was so shure this goes down and ..... (trade what yuo see not what you think = most important rule)
---- this was my last false entry ------

2. trade i close at the pivot line +10 pips -- false exit, should have set SL to B/E ---
Attached Image
  • #452
  • Mar 11, 2010 10:40pm Mar 11, 2010 10:40pm
Long E/J at red arrow, but stopped out one bar before it went my direction a few bars later.
Entered at that bar which is actually not as good as the pinbar 2 bars before.
Decided to enter anyway because the previous bar closed above.
Did not get out even had chance to breakeven because subsequent 2 bars were both pinbars, and so showed that there was buying pressure.

Is the interpretation correct?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 16 KB
  • #453
  • Edited 11:07pm Mar 11, 2010 10:42pm | Edited 11:07pm
short in 6 min?

if this bar close green i try another short
but thats 6 minutes wait


edit: price could not break the low of the IB i closed the trade with 2 pips
Attached Images
  • #454
  • Mar 11, 2010 10:48pm Mar 11, 2010 10:48pm
Quoting MJurban
short in 6 min?

if this bar close green i try another short
but thats 6 minutes wait
it closed green.
did you short?
I think it may be better to wait for the break of bar because it is an inside bar.

What do you think?
  • #455
  • Mar 11, 2010 10:50pm Mar 11, 2010 10:50pm
Quoting Buildcity
Nice result, but I would hesitate to short as the K. Channel was still in up trend.

But GY is not in my watch list so you may get better feel on its pattern.

Cheers
Cityhttp://cdn.forexfactory.com/images/icons/icon7.gif
Hi City

I did that trade because it was with the trend.
I find that KC is lagging and can only serve as a guide.
  • #456
  • Mar 11, 2010 11:13pm Mar 11, 2010 11:13pm
Quoting the novice
it closed green.
did you short?
I think it may be better to wait for the break of bar because it is an inside bar.

What do you think?
youre right , thats why i watched very close if price breaks the high of the IB. i wwould have bailed out with 4 pips risk.
and that is also the reason that i have closed the trade on the way back after 5 pips in gain but could not break the low of the IB .
see edit from my last post
  • #457
  • Mar 11, 2010 11:16pm Mar 11, 2010 11:16pm
Quoting the novice
Hi City

I did that trade because it was with the trend.
I find that KC is lagging and can only serve as a guide.

yes, in a situation like this, the KC is lagging and i think an entry is legal to the rules cause the momentum shows strength
  • #458
  • Mar 11, 2010 11:18pm Mar 11, 2010 11:18pm
Quoting MJurban
youre right , thats why i watched very close if price breaks the high of the IB. i wwould have bailed out with 4 pips risk.
and that is also the reason that i have closed the trade on the way back after 5 pips in gain but could not break the low of the IB .
see edit from my last post
you are fast with your decision.
So you don't usually wait for a break of the IB?
  • #459
  • Mar 12, 2010 12:20am Mar 12, 2010 12:20am
Quoting the novice
you are fast with your decision.
So you don't usually wait for a break of the IB?

normaly the stoploss on an IB is to big for me, so i wait til i see somthing like: smal risk and chance of profit
  • #460
  • Mar 12, 2010 12:23am Mar 12, 2010 12:23am
i played this morning with usdchf cause a had a long on M30 chart with bigger SL for EURUSD. its 19 pips in profit now and the SL is at B/E
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