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Intraday price action trend trading

  • #2,601
  • May 17, 2010 12:51am May 17, 2010 12:51am
Morning all been busy last week
eu short trendline break to r/n +15
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  • #2,602
  • May 17, 2010 12:52am May 17, 2010 12:52am
You are late ............for 1 week!!
  • #2,603
  • May 17, 2010 12:59am May 17, 2010 12:59am
Quoting Buildcity
You are late ............for 1 week!!
Yeah probably be in and out for a few days this week aswell
  • #2,604
  • May 17, 2010 1:02am May 17, 2010 1:02am
All, keep on fighting with the market. I'm off now with my end of lunch break. See you guys later.

Happy trading
Eric
  • #2,605
  • May 17, 2010 1:24am May 17, 2010 1:24am
eu short 61% retrace -6
2nd trade stop and reverse inside bar break double bottom +15
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  • #2,606
  • May 17, 2010 1:32am May 17, 2010 1:32am
Major pairs exceeded or at ADR already if there is and ADR atm but with such major downmoves one would expect retraces we shall see
  • #2,607
  • May 17, 2010 1:34am May 17, 2010 1:34am
Quoting francis2
eu short 61% retrace -6
2nd trade stop and reverse inside bar break double bottom +15
Yeah.. change our mind in second, no bias, just follow what the price tells you
  • #2,608
  • May 17, 2010 1:55am May 17, 2010 1:55am
nice one on gu I missed
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  • #2,609
  • May 17, 2010 1:59am May 17, 2010 1:59am
e/j +24
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  • #2,610
  • May 17, 2010 2:09am May 17, 2010 2:09am
aus +11 indecision bar long above close up to 50% retrace of bigger move
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  • #2,611
  • May 17, 2010 2:13am May 17, 2010 2:13am
Good Morning!

OU bar long break. SL was about 30pips, I'm not sure how to handle it?

What do you think?

Peter
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  • #2,612
  • May 17, 2010 2:22am May 17, 2010 2:22am
Quoting faithno
Good Morning!

OU bar long break. SL was about 30pips, I'm not sure how to handle it?

What do you think?

Peter
youre right on res level 61% retrace and my 60 sma risky I would say also large stop
  • #2,613
  • May 17, 2010 2:23am May 17, 2010 2:23am
Quoting francis2
youre right on res level 61% retrace and my 60 sma risky I would say also large stop
chart g/j
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  • #2,614
  • May 17, 2010 2:30am May 17, 2010 2:30am
Be aware of the current GU situation. It could go up or down but simply take note of the picture below.

The IB (not shown below but now formed) might guide us in the right direction.

Rob
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  • #2,615
  • May 17, 2010 2:34am May 17, 2010 2:34am
eu +3 tests of r/n then break of also inside bar out because price broken below low of indecision candle
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  • #2,616
  • May 17, 2010 2:49am May 17, 2010 2:49am
aus +24 bounce off r/n inside bar break short
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  • #2,617
  • May 17, 2010 2:53am May 17, 2010 2:53am
1.5 hours to retrace 10 mins to crash down
  • #2,618
  • May 17, 2010 2:59am May 17, 2010 2:59am
What a thief would do......quick in and out, got enough daily target, now is bonus

Edit: Like Sho said, when there are few waves after, our RR should not look for too big.
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  • #2,619
  • May 17, 2010 3:16am May 17, 2010 3:16am
I took that GU IB short for +40 but felt very uneasy about it. It should have had a 32 pip stop but I winged it with a 15 pipper. I see you guys regularly taking IB entries that I can't take because of the stops required. In fact I can hardly think of any IBs recently that required less than a 15 pip stop.

Are you using large stops or simply doing what I just did - using a stop within the signal bar that equals your max risk?

Cheers

Dave
  • #2,620
  • May 17, 2010 3:37am May 17, 2010 3:37am
Quoting Sutts
I took that GU IB short for +40 but felt very uneasy about it. It should have had a 32 pip stop but I winged it with a 15 pipper. I see you guys regularly taking IB entries that I can't take because of the stops required. In fact I can hardly think of any IBs recently that required less than a 15 pip stop.

Are you using large stops or simply doing what I just did - using a stop within the signal bar that equals your max risk?

Cheers

Dave
Hi Dave,

I believe we should only take the trades that we are comfortable with. We all have unique trading personalities and our own set of rules. It's the trader who sticks to their own rules who is consistently profitable. Just because one guy makes a nice trade, it doesn't mean everyone else should have taken it.

The only important thing to me as a trader is my upward sloping equity curve. Nothing else matters.

Rob

PS note that we (GU) are back at that "area of interest" shown in my previous post, with divergence.
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