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intraday trend trading with price action

  • #1,681
  • Mar 23, 2010 12:18pm Mar 23, 2010 12:18pm
Quoting the novice
Hi MJ
yes it seems that city agrees with you.
Which means that both of you are entering while the red bar is developing, with price going lower than the indecision bar.
My problem with this approach is if the bar decides to close in the opposite direction....
oh no man.!!!!!!!!!
ok
both of the entry was right ..
explain soon with mju chart
  • #1,682
  • Mar 23, 2010 12:31pm Mar 23, 2010 12:31pm
guys check out my todays post in aud/usd thread.
when everyone was long i was short.when everyone was short i was long.
guess what they were wrong.
  • #1,683
  • Mar 23, 2010 12:33pm Mar 23, 2010 12:33pm
Quoting 786 trading
I always have problem in exit.. when to take profit. I move the stop loss to break even and then lock the profit. But these candles I cannt read properly. I think chart is telling me something. Please guide me Sho.
Where should I exit? Or should I still hold the long entry.
I want to run my profit. Is it proper way to trade as pro. ?
according to the rules we should close via TP wich is 2 or 3 times the SL size.
but i agree with you, if an hurdle like in your chart is broken, maybee its not a bad idee to trail the sl form B/E to the new support line to bank some more pips
  • #1,684
  • Mar 23, 2010 12:45pm Mar 23, 2010 12:45pm
Quoting trade price
guys check out my todays post in aud/usd thread.
when everyone was long i was short.when everyone was short i was long.
guess what they were wrong.
very nice,
i should add aud/usd to my favorites
i am afraid of gbpusd cause i lost some money with this pair scalping m5 chart
but aud/usd looks simular to eurusd, maybee even more nice trends
  • #1,685
  • Mar 23, 2010 7:29pm Mar 23, 2010 7:29pm
Mjurban, Novice, Iak, Buildcity, 786, Sho

I Love this kind of discussion. There is always something to learn from it.


Kurt
  • #1,686
  • Mar 23, 2010 11:51pm Mar 23, 2010 11:51pm
does it increase the success rate if the reversal candle closes in the direction of the momentum?
  • #1,687
  • Mar 24, 2010 1:27am Mar 24, 2010 1:27am
Quoting trade price
guys check out my todays post in aud/usd thread.
when everyone was long i was short.when everyone was short i was long.
guess what they were wrong.
So for the aud/usd did you use the 15 m trend line for direction or to take trades bouncing off it in the direction of the momentum ?

  • #1,688
  • Mar 24, 2010 5:53am Mar 24, 2010 5:53am
Quoting rogerdoger
does it increase the success rate if the reversal candle closes in the direction of the momentum?
yes mate.thats what we look for when pairs reverse.
  • #1,689
  • Mar 24, 2010 5:55am Mar 24, 2010 5:55am
Quoting matlobien
So for the aud/usd did you use the 15 m trend line for direction or to take trades bouncing off it in the direction of the momentum ?

i draw for people to see.i can see them with my eyes .
we are technical traders.we use all sort of thing on the chart.
  • #1,690
  • Mar 24, 2010 6:18am Mar 24, 2010 6:18am
ok guy get ready for one more important lesson.
mju its ur chart.786 similer type of thing u asked i will explain more later.

see the chart first and then
see the big number 2, the bearish bar where i pointed.

our entry was great(green bar).we did get stoped out(red bar). now i wanna see is it real bull or it was just stop hunt.close of this bar now i know it was stop hunt big boys are comeing.for this kind of setup you would not get retracement most of the time.to many orders in the market that moves the market very quickly.

that stop hunt was good information for us to know the direction and where order flow is. . now we know big institutions are joinning with us.
do u think they doesn't know where all the stop is?
they did bid and pushed the price up to take down all the stop and fill their short orders.
they knew where all the stop was.they need someone to take the opposite site .they got filled all their orders.and you know what now all the amature traders are afraid to take the short. all the amature is long and all the pro on the downside.now they are after the downside stop.when all the amature see price is moving down they are closing their long position and panic started and market moved more quickly because more peoples are in the trap.

we did had lots of clue.impulsive move,fib,stop hunt,resistant,price action.

now u are wondering how to play that?i will post later.

with the same chart i will show u lot more thing.stay tune
first i would like to know does it make sense?if so tell me what u have understand so far.
if no i would like to know as well or any question so far ask me?
or if u know something about level playing i wanna know as well.
sho
Attached Image (click to enlarge)
Click to Enlarge Name: mju.GIF Size: 55 KB
  • #1,691
  • Mar 24, 2010 6:32am Mar 24, 2010 6:32am
Quoting trade price
ok guy get ready for one more important lesson.
mju its ur chart.786 similer type of thing u asked i will explain more later.

see the chart first and then
see the big number 2,...
thanks Sho nice explanation looking forward to next>>>>>>>>>>>>>
  • #1,692
  • Mar 24, 2010 6:35am Mar 24, 2010 6:35am
Quoting trade price
ok guy get ready for one more important lesson.
mju its ur chart.786 similer type of thing u asked i will explain more later.

see the chart first and then
see the big number 2, the bearish bar where i pointed.

our entry was great(green bar).we did get stoped out(red bar). now i wanna see is it real bull or it was just stop hunt.close of this bar now i know it was stop hunt big boys are comeing.for this kind of setup you would not get retracement most of the time.to many orders in the market that moves the market very quickly....

hi sho

great example of the big boys faking long position trades
they make it so hard for beginners
but like they say,there has to be wood ducks,or no one will make any money

john
  • #1,693
  • Mar 24, 2010 6:56am Mar 24, 2010 6:56am
Quoting desperate
hi sho

great example of the big boys faking long position trades
they make it so hard for beginners
but like they say,there has to be wood ducks,or no one will make any money

john
its their bread and butter.could be urs as well.
  • #1,694
  • Mar 24, 2010 7:07am Mar 24, 2010 7:07am
Quoting trade price
ok guy get ready for one more important lesson.
mju its ur chart.786 similer type of thing u asked i will explain more later.

see the chart first and then
see the big number 2,...

Thanks for that valuable lesson Sho, much appreciated.

So....if the pros are looking to go short around a level they either take advantage of or actually engineer a decent looking move up past that level so they can sell into the flurry of inexperienced longs.

We correctly identified a good shorting zone but were stopped out in the subsequent stop hunt. However, as compensation we received important information that the big guys want to go down and this backs up our original short decision.

So...we take the first opportunity to join them in the run down. My guess is that the break of the previous pin bar would be the first opportunity.

Am I on the right lines?
  • #1,695
  • Mar 24, 2010 7:20am Mar 24, 2010 7:20am
Hi Sho
Thanks for the great explanation.
My question is why the entry was based on the green indecisive bar which is not a recognisable price action bar. It was also not a rejection of the previous support turned resistant since it remained green.

I must be missing something.
Thanks.
  • #1,696
  • Mar 24, 2010 7:23am Mar 24, 2010 7:23am
Long UJ at arrow shown.
Got out when divergence was forming.
But trade went up further after that.
With that, the divergence signal was off.

Was the exit correct, Sho?
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 15 KB
  • #1,697
  • Mar 24, 2010 7:32am Mar 24, 2010 7:32am
Quoting the novice
Hi Sho
Thanks for the great explanation.
My question is why the entry was based on the green indecisive bar which is not a recognisable price action bar. It was also not a rejection of the previous support turned resistant since it remained green.

I must be missing something.
Thanks.
did u see the chart?
eventhough its a indicision bar but
its a small stop.after an impulsive it represents the selling presure and its a fib level.
fib is a great tool(its not methood) for traders.
  • #1,698
  • Mar 24, 2010 7:37am Mar 24, 2010 7:37am
Quoting the novice
Long UJ at arrow shown.
Got out when divergence was forming.
But trade went up further after that.
With that, the divergence signal was off.

Was the exit correct, Sho?
divergence is still valid until the down move comes.
after the divergence it may go up or down.divergence represents momentum is slowing.not trend reversing.most people misuse the stocastic or any momentum indicators.they allways blame methood or indicator but they doesnot understand how to use them.
  • #1,699
  • Mar 24, 2010 7:46am Mar 24, 2010 7:46am
with every bar our dicision can change we are traders we are not investors.
like is i say i am bullish,close of this bar i will say bearish depend on the price action.
but most of the people doesnot like to change their mind.thats where success comes.
learn to change ur mind in a second.
pro will put a big order in the quote window but after few seconds he will remove all the orders.thats how the market works.u have to change with the market all the time.
if u know anything about market makers u should know what i mean
  • #1,700
  • Mar 24, 2010 7:54am Mar 24, 2010 7:54am
i dont how many of u trade how many methood or sytem at one time.
but i am telling u a truth.it doesnot matter which methood u follow.could be the best one in the world.if u are agree with me or not it doesnot matter.

 u will fail if you trade and think two methood at the same time.
that is the truth for me.

trade a methood and time frame that suits u.follow ur plan.dont let someone else to change ur plan.u will have lots of ups and down thats for sure.stick with ur plan.dont change the methood unless u know what u r doing.
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