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Intraday price action trend trading

  • #681
  • Mar 24, 2010 7:19am Mar 24, 2010 7:19am
Great learning today.

Thanks Sho.

  • #682
  • Mar 24, 2010 7:21am Mar 24, 2010 7:21am
Quoting francis2
thanks,how did you get on with that I didnt take it was it b/e in the end or did you get some before it reversed
Francis,

The signal bar fell too far for an immediate entry so I placed a limit order expecting at least a 38% retrace of the signal bar but it never made it.

Sho was right about it being higher risk due to the daily TL. It didn't get that far to the downside but I could have made a few pips maybe.
  • #683
  • Mar 24, 2010 7:21am Mar 24, 2010 7:21am
Hey Sho,

Sometimes before the news you see some big bars in the direction of the where the market eventually goes.

Do you think this is because some the the big traders know what the news is before it is released?

Kurt
  • #684
  • Mar 24, 2010 7:22am Mar 24, 2010 7:22am
Quoting sruthihari
Sho,

i have a question ,

Whenever a news releases in the favor of EURO why does people run towards the $$$$ , i dont understand the logic behind that , especially today's news on EURO.
pro doesnot trade news.its time to go opposite or side line for pro.thats why spikes comes.all the pro moves their orders from order quotes at the news time.only for that reason spread is too high at that time.
amature trade news.
did u ever heard a pro traders to trade news?
  • #685
  • Mar 24, 2010 7:24am Mar 24, 2010 7:24am
short gbp 1.4946 break and close below 50 level inverted hammer / inside bar
  • #686
  • Mar 24, 2010 7:25am Mar 24, 2010 7:25am
Quoting francis2
short gbp 1.4946 break and close below 50 level inverted hammer / inside bar
closed +12 forgot about news
  • #687
  • Mar 24, 2010 7:25am Mar 24, 2010 7:25am
Quoting TheRoper
Hey Sho,

Sometimes before the news you see some big bars in the direction of the where the market eventually goes.

Do you think this is because some the the big traders know what the news is before it is released?

Kurt
oh yes .but they will never tell any body or publish without official realease.
its an offence.
  • #688
  • Mar 24, 2010 7:26am Mar 24, 2010 7:26am
Quoting trade price
big and sudden moves.
they use bigger stops or some times they doesnot.mannually watch the stop without puting a proper stop but they doesn't have time to close the possition when move comes.
our advantage is small stop.if it comes nothing to worry we can hold into the new times as well.sometimes i do if its a runner
Thanks Sho, wonder why the market behaves like that? I can understand why Fridays might swing around as no one wants to pursue a move into the weekend but Wednesdays? Perhaps the big institutions load up on a Wednesday and the large orders coming in at key levels make the price bolt.
  • #689
  • Mar 24, 2010 7:29am Mar 24, 2010 7:29am
Quoting trade price
oh yes .but they will never tell any body or publish without official realease.
its an offence.

I see.
  • #690
  • Mar 24, 2010 7:32am Mar 24, 2010 7:32am
Quoting francis2
short gbp 1.4946 break and close below 50 level inverted hammer / inside bar
You certainly can pick 'em Francis. But your stops must be pretty large. I couldn't take that one - even with the small retrace.
  • #691
  • Mar 24, 2010 7:33am Mar 24, 2010 7:33am
EU keeps pushing south.

Same goes for GU.

  • #692
  • Mar 24, 2010 7:35am Mar 24, 2010 7:35am
Quoting Sutts
You certainly can pick 'em Francis. But your stops must be pretty large. I couldn't take that one - even with the small retrace.
17 pip stop, thats where i turn to M1 to monitor price better
Its picking the right setups on bad days thats the difficulty!
  • #693
  • Mar 24, 2010 7:41am Mar 24, 2010 7:41am
I hate these big bars on GU.

They don't allow you to enter.

PATIENCE
  • #694
  • Mar 24, 2010 7:45am Mar 24, 2010 7:45am
with every bar our dicision can change we are traders we are not investors.
  • #695
  • Mar 24, 2010 7:46am Mar 24, 2010 7:46am
Quoting francis2
17 pip stop, thats where i turn to M1 to monitor price better
Its picking the right setups on bad days thats the difficulty!
Thanks for confirming Francis.

On my charts the high of the signal bar is at 1.49635. That would have given me a stop of high + spread (3) + margin (1) = 1.49675

If I'd entered on the close (1.49468) my stop would have been 20.7

If I'd entered on the max retrace (1.49502) my stop would have been 17.3. I guess that's what you did.

Just trying to figure out how I can join in the fun. I've missed so many moves today.
  • #696
  • Mar 24, 2010 7:54am Mar 24, 2010 7:54am
Sho, is your swing trading entries based on the same criteria as explained in this thread ?

  • #697
  • Mar 24, 2010 8:02am Mar 24, 2010 8:02am
Quoting matlobien
Sho, is your swing trading entries based on the same criteria as explained in this thread ?

for the answer see the thread 1.
just posted
  • #698
  • Mar 24, 2010 8:03am Mar 24, 2010 8:03am
Pin bar on EJ.
  • #699
  • Mar 24, 2010 8:12am Mar 24, 2010 8:12am
Quoting matlobien
Pin bar on EJ.
Ive got a hammer
Sho, I presume the e/j trade is a no go with it being a major level and such a rapid move am I right
  • #700
  • Mar 24, 2010 8:16am Mar 24, 2010 8:16am
Quoting francis2
Ive got a hammer
Sho, I presume the e/j trade is a no go with it being a major level and such a rapid move am I right
yes wait for a retrace
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