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Intraday price action trend trading

  • #741
  • Mar 24, 2010 8:20am Mar 24, 2010 8:20am
Would have been nicer if I had remembered I was in the trade 20p before I got out. Probably would have rode it down any way.
  • #742
  • Mar 24, 2010 8:23am Mar 24, 2010 8:23am
What am I missing? I went short on a retest of the center channel a minute ago at .48988. The corrective move appears over on my chart.
  • #743
  • Mar 24, 2010 8:24am Mar 24, 2010 8:24am
Quoting Sutts
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.
I wouldnt say that sutts Id like to know if that 2nd bar on gbp/usd was a valid entry bar though, it was a corrective move BUT that inverted hammer at the top obviously had precedence for shorting I think this is where expoerience comes into play
market goes vertical .........diagonal......... horizontal this could be consolidation phase
  • #744
  • Mar 24, 2010 8:26am Mar 24, 2010 8:26am
brb
  • #745
  • Mar 24, 2010 8:28am Mar 24, 2010 8:28am
Quoting Bankshot
What am I missing? I went short on a retest of the center channel a minute ago at .48988. The corrective move appears over on my chart.
did that correspond with bar close or not
  • #746
  • Mar 24, 2010 8:31am Mar 24, 2010 8:31am
Quoting Sutts
brb
ive just put keltner on charts to see eu was flat and gbp down I presume that would have invalidated longs??
  • #747
  • Mar 24, 2010 8:31am Mar 24, 2010 8:31am
No it was bout 2/3 was thru the bars time after a retrace from .49084 on the way down.
  • #748
  • Mar 24, 2010 8:33am Mar 24, 2010 8:33am
I think thats right Francis. My long was against the rules, I just couldn't help my self.
  • #749
  • Mar 24, 2010 8:35am Mar 24, 2010 8:35am
Quoting Bankshot
I think thats right Francis. My long was against the rules, I just couldn't help my self.
well no it was price action tweezers is it called,same as short off inverted hammer 1.49152 its also price action just not Sho,s method!!!!!
  • #750
  • Mar 24, 2010 8:35am Mar 24, 2010 8:35am
Speaking of rules, 18p wasn't enough. Now I have followed my short back to BE.
  • #751
  • Mar 24, 2010 8:39am Mar 24, 2010 8:39am
Quoting francis2
ive just put keltner on charts to see eu was flat and gbp down I presume that would have invalidated longs??
I remember Sho saying that the keltner channel angle didn't matter if you read the impulse moves correctly. I thought I had but obviously I got it wrong.

I think I'll stick to trades with the keltner in future though.
  • #752
  • Mar 24, 2010 8:40am Mar 24, 2010 8:40am
Quoting Sutts
I remember Sho saying that the keltner channel angle didn't matter if you read the impulse moves correctly. I thought I had but obviously I got it wrong.

I think I'll stick to trades with the keltner in future though.
As the pub landlord says what do we do with rules
  • #753
  • Mar 24, 2010 8:44am Mar 24, 2010 8:44am
Just stopped out, on my short -8. Didn't move SL to BE. Dumb move.
  • #754
  • Mar 24, 2010 8:57am Mar 24, 2010 8:57am
I'm not totally useless, I can always be used as a bad example.
Had two trades today, one went 35 p in my direction the other 18p.
I wound up +2. Do you think money management could improve this situation.
  • #755
  • Mar 24, 2010 9:03am Mar 24, 2010 9:03am
Quoting Bankshot
I'm not totally useless, I can always be used as a bad example.
Had two trades today, one went 35 p in my direction the other 18p.
I wound up +2. Do you think money management could improve this situation.
OH Why Oh Why dont we stop when were up
  • #756
  • Mar 24, 2010 9:55am Mar 24, 2010 9:55am
Missed the big party today!! just back home now but this thread has been moved several pages for an hr. You guys' pocket is full but mine is +7p for 5 trades on GU. What a hurrible day for me!!
http://cdn.forexfactory.com/images/icons/icon8.gif
  • #757
  • Mar 24, 2010 10:01am Mar 24, 2010 10:01am
Quoting Buildcity
Missed the big party today!! just back home now but this thread has been moved several pages for an hr. You guys' pocket is full but mine is +7p for 5 trades on GU. What a hurrible day for me!!
http://cdn.forexfactory.com/images/icons/icon8.gif

I'd be happy with 7 pips Buildcity. I'm down 32 due to stupidity, lack of common sense and understanding. What a crappy day.
  • #758
  • Mar 24, 2010 10:09am Mar 24, 2010 10:09am
Quoting Bankshot
I'm not totally useless, I can always be used as a bad example.
Had two trades today, one went 35 p in my direction the other 18p.
I wound up +2. Do you think money management could improve this situation.
yes phill
you need money management.and most important trade management.
what sort of stop and target u use tell me .may be i can help u to building ur plan.
all is hepening for trade management.
  • #759
  • Mar 24, 2010 10:11am Mar 24, 2010 10:11am
Quoting Sutts
I'd be happy with 7 pips Buildcity. I'm down 32 due to stupidity, lack of common sense and understanding. What a crappy day.
oh man dont worry dont trade today any more.
i told you newyork session will be bit flat( ups and down.)
never mind it was good day for u .u have learned something today from market.
  • #760
  • Mar 24, 2010 10:19am Mar 24, 2010 10:19am
Yes, almost 5 hrs within the same small range on GU, so close my a/c now otherwise it will cost my only 7P. http://cdn.forexfactory.com/images/icons/icon11.gif

Quoting trade price
oh man dont worry dont trade today any more.
i told you newyork session will be bit flat( ups and down.)
never mind it was good day for u .u have learned something today from market.
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