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Intraday price action trend trading

  • #2,361
  • May 7, 2010 7:21am May 7, 2010 7:21am
dont forget NFP 10 mins
  • #2,362
  • May 7, 2010 7:22am May 7, 2010 7:22am
Quoting francis2
dont forget NFP 10 mins
Of course, I always put my NEWS on. Time to home now, see you guys later.

Cheers all
City
  • #2,363
  • May 7, 2010 9:07am May 7, 2010 9:07am
+66 UK100 gap filler 50% retrace entered as price dropped below close of green candle bounce off sma5
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  • #2,364
  • May 7, 2010 9:20am May 7, 2010 9:20am
Quoting francis2
+66 UK100 gap filler 50% retrace entered as price dropped below close of green candle bounce off sma5
Great trade Francis!
  • #2,365
  • May 7, 2010 9:40am May 7, 2010 9:40am
Quoting priceaction
Great trade Francis!
Thanks I was feeling left out after your gbp trade this morning not bad for a scalper
  • #2,366
  • May 7, 2010 9:43am May 7, 2010 9:43am
eu H4 any more in the tank????????
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  • #2,367
  • Edited 11:08am May 7, 2010 11:07am | Edited 11:08am
Entry after the formed star, BE out
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  • #2,368
  • May 7, 2010 11:22am May 7, 2010 11:22am
Quoting Buildcity
Entry after the formed star, BE out
Hey BC up to your old tricks again I see
  • #2,369
  • Edited 11:35am May 7, 2010 11:33am | Edited 11:35am
Quoting francis2
Hey BC up to your old tricks again I see
Actually, what I think is the end of corrective move after last implusive down wave, so I entered after star.

Pls correct me if I have counted the wrong trend. That's the way I am testing.

See the chart now
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  • #2,370
  • May 7, 2010 11:39am May 7, 2010 11:39am
Quoting Buildcity
Actually, what I think is the end of corrective move after last implusive down wave, so I entered after star.

Pls correct me if I have counted the wrong trend. That's the way I am testing.

See the chart now
Yes I see what you mean if you look at my chart though with the stoch you will see at the point you thought could be the top the stoch was still well upwards pointing but look 2 candles later at the actual top stoch showed oversold hooked over
thats what sho maybe meant trying to pick tops price has to confirm it to me that was just an indecision bar

EDIT also once hook has formed on stoch you get divergence which you dont get after doji
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  • #2,371
  • May 7, 2010 11:46am May 7, 2010 11:46am
Quoting francis2
Yes I see what you mean if you look at my chart though with the stoch you will see at the point you thought could be the top the stoch was still well upwards pointing but look 2 candles later at the actual top stoch showed oversold hooked over
thats what sho maybe meant trying to pick tops price has to confirm it to me that was just an indecision bar
Tks Francis, one thing I'm still confused with the Stoch that I used to hide the Stoch when the moment I entry, so sometime I suddenly found (after entry then open the Stoch for exit purpose) I was in the wrong direction with the Stoch.

Still need to figure out, whether to put the Stoch always on.

Cheers
City
  • #2,372
  • May 7, 2010 11:59am May 7, 2010 11:59am
Quoting Buildcity
Tks Francis, one thing I'm still confused with the Stoch that I used to hide the Stoch when the moment I entry, so sometime I suddenly found (after entry then open the Stoch for exit purpose) I was in the wrong direction with the Stoch.

Still need to figure out, whether to put the Stoch always on.

Cheers
City
Yes stoch gives you a rough guide Im no expert but with stoch at 8.3.3 basically there are 8 x 15 min candles in 2 hours which is a rough cycle for swings thats why in a strong trend stoch stays oversold because the cycle is wrong ie there are a lot more than 8 candles in the swing


For my scalping in M1 I use stoch at 21.3.3 because there are 15x 1 minute candles in an M15 candle and the bit extra gives you a candle or two at the top bottom of the swing so the stoch is in harmony with the swings if you get the drift
2 charts M1 and M15 see how stochs corrrespond with price bars when harmonically swinging
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  • #2,373
  • May 7, 2010 12:05pm May 7, 2010 12:05pm
Really appreciated. Let me have a moment to think through.

Cheers mate, btw, I dont think your are no expert


Quoting francis2
Yes stoch gives you a rough guide Im no expert but with stoch at 8.3.3 basically there are 8 x 15 min candles in 2 hours which is a rough cycle for swings thats why in a strong trend stoch stays oversold because the cycle is wrong ie there are a lot more than 8 candles in the swing


For my scalping in M1 I use stoch at 21.3.3 because there are 15x 1 minute candles in an M15 candle and the bit extra gives you a candle or two at the top bottom of the swing so the stoch is in harmony with the swings if you get the drift
2 charts M1 and M15 see...
  • #2,374
  • May 7, 2010 1:21pm May 7, 2010 1:21pm
eu +11
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  • #2,375
  • May 7, 2010 1:24pm May 7, 2010 1:24pm
gu -3 too slow
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  • #2,376
  • May 7, 2010 7:25pm May 7, 2010 7:25pm
Quoting francis2
Yes stoch gives you a rough guide Im no expert but with stoch at 8.3.3 basically there are 8 x 15 min candles in 2 hours which is a rough cycle for swings thats why in a strong trend stoch stays oversold because the cycle is wrong ie there are a lot more than 8 candles in the swing


For my scalping in M1 I use stoch at 21.3.3 because there are 15x 1 minute candles in an M15 candle and the bit extra gives you a candle or two at the top bottom of the swing so the stoch is in harmony with the swings if you get the drift
2 charts M1 and M15 see...
hi francis,
very nice post
i think, if trend is not to strong or even im range, stoch gives u a god feeling how price acts
  • #2,377
  • May 8, 2010 12:10am May 8, 2010 12:10am
Quoting Buildcity
Tks Francis, one thing I'm still confused with the Stoch that I used to hide the Stoch when the moment I entry, so sometime I suddenly found (after entry then open the Stoch for exit purpose) I was in the wrong direction with the Stoch.

Still need to figure out, whether to put the Stoch always on.

Cheers
City
same here, i also dont use stoch for entry , Sho showed us to use the stoch only for divergenze on exits.
But searching for a nice trending chart its easy in hindsight for me, i am not so sure if this is a good looking chart in the heat of the fight.
So i think maybe when watching the price , the highs and lows and compare it with the stoch for divergence and overbought/sells some might get a better timing. Looks to me as Francis timing is almost perfect.
I use to jump in a bit to early , so on the weeckend i will scroll back thru the charts watching the stoch, comparing with highs and lows of the price.
not for entry signals but to build up more patience and confidence.

c u next week
  • #2,378
  • May 8, 2010 12:31am May 8, 2010 12:31am
Cheers mate, always nice to chat with you n Francis (our master Sho is always watching us).

Weekend to me is family day + revision. Francis did give me a clue on Stoch stuff so that there is going to lot of homework.

C u guys next week.


Quoting MJurban
same here, i also dont use stoch for entry , Sho showed us to use the stoch only for divergenze on exits.
But searching for a nice trending chart its easy in hindsight for me, i am not so sure if this is a good looking chart in the heat of the fight.
So i think maybe when watching the price , the highs and lows and compare it with the stoch for divergence and overbought/sells some might get a better timing. Looks to me as Francis timing is almost perfect.
I use to jump in a bit to early , so on the weeckend i will scroll back thru the charts watching...
  • #2,379
  • Edited 1:35am May 10, 2010 12:37am | Edited 1:35am
(Edit: Sorry Sho for the messy chart, I still need to draw trend lines, fib on chart to make decision before I mess around)

Still with aggressive approach (but after analysis ~ anyway a kind of probability game)

The uptrend momentum seems ended with the top red pin at 1.49 r/n. Then a downward move original corrective move changed to implusive move. The last blue bar up moved 50% then form a pin.

Mamual cut as the 38.2 Fib is almost arrived.

See slide show
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  • #2,380
  • May 10, 2010 12:56am May 10, 2010 12:56am
Just a record of this morning 1st trade

Suppose no good to play in Asia session, but good form of pattern (A+), jump in have a try.

- good kc uptrend;
- seems ending of corrective move;
- good form of pin, to be end above ma10;
- Momentum is in uptrend
- Actually (forgot) without reference to Stoch, which is in downward movement at the moment;

(2nd chart 1st - upload problem)
Result: haha, at +20p didn't take, leave it to retrace then BE out, of course the SL is moved to above BE a bit after around 15p gained.


(1st chart)
Edit: the bar after the last red pin is blue and pump up to +33p eventually, seems my sl to BE is a bit fast; see 2nd chart, the blue is in good form and eventually brought the stoch hook up (original still in down trend). Still need to figure out whether to take reference from Stoch before take entry.
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