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Intraday price action trend trading

  • #721
  • Mar 24, 2010 9:41am Mar 24, 2010 9:41am
I think I'll be taking those GU and EU pin bars in 4 mins....are you?
  • #722
  • Mar 24, 2010 9:44am Mar 24, 2010 9:44am
Quoting Sutts
I think I'll be taking those GU and EU pin bars in 4 mins....are you?
confusing because of inverted hammer and opposing hammer could go either way gbp looking bearish eu a bit better Sho heeeeeeelp which way
  • #723
  • Mar 24, 2010 9:46am Mar 24, 2010 9:46am
I gone long. small stop
  • #724
  • Mar 24, 2010 9:53am Mar 24, 2010 9:53am
Went long on both. Only EU survives!
  • #725
  • Mar 24, 2010 9:56am Mar 24, 2010 9:56am
Quoting Sutts
Went long on both. Only EU survives!
lol, to jump or not now!
  • #726
  • Mar 24, 2010 9:57am Mar 24, 2010 9:57am
Quoting Sutts
Went long on both. Only EU survives!
maybe another hammer situation, I know Sho doesnt use them but I use 5 and 21 sma if im about to buy into a sloping 21 I dont and if 5sma is flat =no trade aswell
  • #727
  • Mar 24, 2010 9:59am Mar 24, 2010 9:59am
Did either of you have matching lowes on the 930/ 945 bars, hour and a half ago on the GU at .4876? I went long at the close of the second bar.
  • #728
  • Mar 24, 2010 9:59am Mar 24, 2010 9:59am
Quoting francis2
maybe another hammer situation, I know Sho doesnt use them but I use 5 and 21 sma if im about to buy into a sloping 21 I dont and if 5sma is flat =no trade aswell
Thanks for the tip Francis. Going long GU again.
  • #729
  • Mar 24, 2010 10:02am Mar 24, 2010 10:02am
Quoting Bankshot
Did either of you have matching lowes on the 930/ 945 bars, hour and a half ago on the GU at .4876? I went long at the close of the second bar.
trading that as break of inside bar then?
  • #730
  • Mar 24, 2010 10:03am Mar 24, 2010 10:03am
Quoting Sutts
Thanks for the tip Francis. Going long GU again.
what price are you long
  • #731
  • Mar 24, 2010 10:05am Mar 24, 2010 10:05am
Loks like C is rapidly turning into I
  • #732
  • Mar 24, 2010 10:07am Mar 24, 2010 10:07am
Quoting Bankshot
Did either of you have matching lowes on the 930/ 945 bars, hour and a half ago on the GU at .4876? I went long at the close of the second bar.
Yes Bankshot, within a pip. Is that in the rule set?
  • #733
  • Mar 24, 2010 10:08am Mar 24, 2010 10:08am
Quoting francis2
trading that as break of inside bar then?
No, not really. The matching bottom on the 15m or longer time frames is a powerful signal for me. If the bars are long enough, these were. I got busy expounding on the other thread and forgot I had it until I switched to here and saw the discussion. Cost me a little.
  • #734
  • Mar 24, 2010 10:10am Mar 24, 2010 10:10am
Quoting francis2
what price are you long

Long from 1.4897 francis. Doesn't look good though.

The sharks made a real nice meal out of me on these trades.
  • #735
  • Mar 24, 2010 10:10am Mar 24, 2010 10:10am
Quoting Sutts
Yes Bankshot, within a pip. Is that in the rule set?
Don't think so, but it produces consistantly enough that I won't miss the opportinity if I see it. Old habbits I guess.
  • #736
  • Mar 24, 2010 10:13am Mar 24, 2010 10:13am
Quoting Sutts
Long from 1.4897 francis. Doesn't look good though.

The sharks made a real nice meal out of me on these trades.
This is where I get unsure so according to Sho that red bar is ok to go long on then, cos to me how do you know its not going south
what is the price confirmation associated with that bar , thanks
  • #737
  • Mar 24, 2010 10:15am Mar 24, 2010 10:15am
To go long would be against the trend/ momentum.
  • #738
  • Mar 24, 2010 10:15am Mar 24, 2010 10:15am
Quoting Bankshot
Don't think so, but it produces consistantly enough that I won't miss the opportinity if I see it. Old habbits I guess.

Nice trade anyway Bankshot.
  • #739
  • Mar 24, 2010 10:18am Mar 24, 2010 10:18am
Quoting Bankshot
To go long would be against the trend/ momentum.
I think this is where interpretation of impulse and corrective comes in, at some point here on eu and gbp I think corrective has changed overall trend is down yes but at some point a retrace is due maybe not just yet
  • #740
  • Mar 24, 2010 10:19am Mar 24, 2010 10:19am
OK, I'll put my hands up. I don't know what the hell I'm doing.

On both EU and GU I thought we were in the correction phase of a new bullish impulse move. The big green momentum bars and the fact that the previous swing highs were taken out was the evidence I used.

I think I need to post these charts to the main thread and ask Sho to comment cos I got it wrong big time on these trades.
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