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intraday trend trading with price action

  • #1,721
  • Mar 25, 2010 4:40am Mar 25, 2010 4:40am
Quoting Buildcity
Hi Francis,

Could you share your big number indicator? I always miss to take this into consideration before jump in, it could be a good help.

Tks
City
Yes it is PrimeLevels v1 (white) for white screen its here on FF put into search bar if you cant find tell me how to copy and paste or whatever
  • #1,722
  • Mar 25, 2010 5:54am Mar 25, 2010 5:54am
Thanks both Francis & Miltonhttp://cdn.forexfactory.com/images/icons/icon14.gif


Quoting francis2
Yes it is PrimeLevels v1 (white) for white screen its here on FF put into search bar if you cant find tell me how to copy and paste or whatever
  • #1,723
  • Mar 25, 2010 7:28am Mar 25, 2010 7:28am
Quoting 786 trading
Sorry brother as I am not sharp and things sink in my had late.
I did not understand that fully.

I thought we make impulsive waves from swing high and swing low. And once market fails to make new high we consider that change of wave direction, i mean corrective waves become impulsive wave etc.

And I thought price action would tell the end of impulsive wave and I can take shot. But I think I am totaly wrong. Sorry brother can you explain one more time that how we take price action to decide impulsive wave.
And in the chart grey area, does the third...
u are not wrong.its next phase.u did very well.

speed and momentum is the same thing
when we combine the speed(momentum)with swing high and swing low that is impulsive move.
with the overall trend normally we use swing high or low and candle formation to count impulsive moves .

when move is against the overall trend we use candle formation, speed and swing high /swing low to count impulsive move.


when move is against the trend ,if it breaks swing high or swing low if there is no speed(compare with other bars)we wouldnot call it an impulsive move.
it must contain some speed(comparing with the other bars)then we will call it an impulsive move.
when u compare allways compare with the recent opposite move.how long it is takeing.
it is sound hard but its not .just keep praticing and watch live market.u will get the idea.

( down speed was greater then up speed which is rythem and momentum)that is the key.
when u enter into a trade if u see speed(momentum)is on the other side just get out.u can allways get back in later.

sho
  • #1,724
  • Mar 25, 2010 11:57am Mar 25, 2010 11:57am
This is very useful information Sho, thanks for posting. Helps a lot.
  • #1,725
  • Mar 25, 2010 1:17pm Mar 25, 2010 1:17pm
Interesting way to look at it. Something to think about.
  • #1,726
  • Mar 25, 2010 6:10pm Mar 25, 2010 6:10pm
do these candles count as valid entries?

which of them are A+ setups?
thanks!
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  • #1,727
  • Mar 25, 2010 9:08pm Mar 25, 2010 9:08pm
Quoting rogerdoger
do these candles count as valid entries?

which of them are A+ setups?
thanks!
see them now mate.
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  • #1,728
  • Mar 26, 2010 10:23am Mar 26, 2010 10:23am
Quoting trade price

when move is against the trend ,if it breaks swing high or swing low if there is no speed(compare with other bars)we wouldnot call it an impulsive move.
it must contain some speed(comparing with the other bars)then we will call it an impulsive move.
when u compare allways compare with the recent opposite move.how long it is takeing.
it is sound hard but its not .just keep praticing and watch live market.u will get the idea.

sho

I'm so sorry Sho. Sometimes you must feel like you are beating a dead horse here trying to get us to understand this Impulse/Corrective thing.

But what you wrote above may be one of the most amazing things I have ever read, because it goes against what most people say about higher highs and lower lows and the breaking of prior swings.

So if you could help those of us out who are still trying to figure out these lines by explaining what you see on the attached EURUSD 15M chart.

I saw it (the first purple line down) as a corrective becoming impulsive. It also broke two swing lows. But as you said just because a swing high or swing low is broken doesn't mean that the trend has changed.

I think that the time that it took for the price to go down was faster than the time it took to travel the same distance up, so would that not be greater speed/momentum?

Or am I right and this is just one of those moments where the forex market does what it wants to! LOL!

Yes, I'm still a fan of pivot points and you can see it clearly bounce off the R1 line.

Lastly, as I was uncertain as to what was going on I took no trades in this area.

Thanks!


http://i656.photobucket.com/albums/u...009/ImpCor.jpg
  • #1,729
  • Mar 26, 2010 5:35pm Mar 26, 2010 5:35pm
these are all the possible entries too correct?

thanks!
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  • #1,730
  • Mar 26, 2010 6:27pm Mar 26, 2010 6:27pm
Sho can you tell us more how hard i even try i dont get it to work i go minus the winners dont make up for the loosers.


best regards
  • #1,731
  • Mar 27, 2010 4:24am Mar 27, 2010 4:24am
Quoting Skeebo
I'm so sorry Sho....
Very interesting.

  • #1,732
  • Mar 27, 2010 11:54am Mar 27, 2010 11:54am
Quoting Skeebo
I'm so sorry Sho. Sometimes you must feel like you are beating a dead horse here trying to get us to understand this Impulse/Corrective thing.

But what you wrote above may be one of the most amazing things I have ever read, because it goes against what most people say about higher highs and lower lows and the breaking of prior swings.

So if you could help those of us out who are still trying to figure out these lines by explaining what you see on the attached EURUSD 15M chart. So its a...

maybe its not so complicated,
after 140 pips upswing there was time for a retrace. so the purple line was short impulsive , then corrective and then? :: big news at 13:30 GMT broght everything back to the longside.

a news evet can always and at any time mess up the best PA moves

just my 2 cents about it
  • #1,733
  • Mar 27, 2010 12:10pm Mar 27, 2010 12:10pm
Quoting Skeebo
I'm so sorry Sho....
ok mate i will explain more soon
sho
  • #1,734
  • Mar 27, 2010 12:19pm Mar 27, 2010 12:19pm
Quoting Skeebo
But what you wrote above may be one of the most amazing things I have ever read, because it goes against what most people say about higher highs and lower lows and the breaking of prior swings.



http://i656.photobucket.com/albums/u...009/ImpCor.jpg

excuse me please if i put another thougt into the discussion:

in a bull flag you see lower lows but the trend is still long.
look at the charts the blue lines could be bull flags
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  • #1,735
  • Mar 27, 2010 5:34pm Mar 27, 2010 5:34pm
Quoting rogerdoger
these are all the possible entries too correct?

thanks!
Hey RogerDoger,

Sho teaches us to trade when the angle of Keltner is Good. The chart you posted looks like the angle is flat.

Check out the difference in the two charts in this post. http://www.forexfactory.com/showpost...25&postcount=6

Welcome to the Thread.

Kurt
  • #1,736
  • Mar 27, 2010 6:01pm Mar 27, 2010 6:01pm
Quoting Skeebo
I'm so sorry Sho. Sometimes you must feel like you are beating a dead horse here trying to get us to understand this Impulse/Corrective thing.

But what you wrote above may be one of the most amazing things I have ever read, because it goes against what most people say about higher highs and lower lows and the breaking of prior swings.

So if you could help those of us out who are still trying to figure out these lines by explaining what you see on the attached EURUSD 15M chart.

I saw it (the first purple line down) as a corrective becoming...

Hey Skeebo,

IMHO your impulsive / corrective analysis is correct. I think this is the E/U chart from friday. If it is I actually tried to short the correction after the impulse purple line you drew but got stopped out for -15. The middle turned out to be a correction the bigger impulsive wave.

Kurt
  • #1,737
  • Mar 28, 2010 2:17am Mar 28, 2010 2:17am
Quoting TheRoper
Hey RogerDoger,

Sho teaches us to trade when the angle of Keltner is Good. The chart you posted looks like the angle is flat.

Check out the difference in the two charts in this post. http://www.forexfactory.com/showpost...25&postcount=6

Welcome to the Thread.

Kurt
thanks for the reply.

could you say the highest probability candle entry would be the ones where it closes as a hammer or as a bar that closes with no body with the correct wick orientation?
  • #1,738
  • Edited 4:12am Mar 28, 2010 3:52am | Edited 4:12am
Quoting TheRoper
Hey Skeebo,

IMHO your impulsive / corrective analysis is correct. I think this is the E/U chart from friday. If it is I actually tried to short the correction after the impulse purple line you drew but got stopped out for -15. The middle turned out to be a correction the bigger impulsive wave.

Kurt
hi Kurt, and Skeebo

yes, the impulsive / corrective analysis is correct and it is the friday chart
IMHO.
looking the situation in hindsight is always different than the actual trading.
But still i do not understand why you took an SL on this?
The short impiulsuve was strong enought so a shorte trade at the first retracement candle at 12:30 GMTwas valid .
SL 10 pips was never in reach and a tp 20 could be managed.

At least, if you was going for a tp 3:1 = 30 pips a B/E was the result of this trade
2. Chart Pic
hope you dont mind if i jump into your discussion ,we all are here to learn



EDIT:
i played the simulator to the 12:45 situation to have a better look.
Is it still long after the long upmove or is a short pullbak more possible?
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Attached Image
  • #1,739
  • Mar 28, 2010 8:59am Mar 28, 2010 8:59am
Quoting MJurban
hi Kurt, and Skeebo...

hope you dont mind if i jump into your discussion ,we all are here to learn
I don't mind you jumping in at all. Open discussion is how we learn.

I really like your analysis of the trade. I agree that looking back in hindsight we all have a 100% success rate in trading LOL!

I have noticed that over the last few weeks (since I found this thread) I have been more successful in finding these excellent low loss entries. I just have to get the gumption on and start taking some of them. I think that I still have a psychological hang up about taking a SL because I am used to that being 50 pips, not 8-10 pips.

With a few of you and your analysis agreeing that the trade was heading down like it was supposed. Well at least until Trichet opened his mouth and changed the direction of the currency.

I am starting to feel better that I am seeing more of these opportunities as they appear. Like Sho has always said it took him years of screen time to develop his ability to see these formations and patterns. I have only been looking at charts with this new perspective for a couple of weeks so I'm not expecting miracles.

With thanks to all and their contributions!
Keep up the great work!
  • #1,740
  • Mar 28, 2010 10:06am Mar 28, 2010 10:06am
Quoting rogerdoger
these are all the possible entries too correct?

thanks!
if u see something like this save ur butt . too sideway.
trust ur eyes.they are created by god.it is the best trading tool.there is nothing better than ur eyes.its better than our brain.
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