intraday trend trading with price action

dont know if its already been postet here, but if you like marc douglas you should watch this

http://www.4shared.com/file/96740657...er_Market.html

edit: ha lol, if someone could delete this post^^

Snap: #1937

This chart is first look of the zone attack series.posting this to get feel for this session.and i need some old timers(my buddy list) to go thrugh this phase.have a look at that chart and tell me what do you think?will explain when i have some time in the folowing week .have a nice weekend all.

trader sho is someone who deserves more than just vouches...if i see him in london town i will undoubtedly buy him a drink, possibly at a ministry of sound or fabric rave

but i can only drink milk.nothing else.i dont drink alchohol.dont smoke either,thats why dont offer me any fag as well.

hahaha u sound like me except replace 'milk' with water

Sho, I've been out for a while but your chart reminds me of the inpulse/corrective-corrective/reversal scenario(or something spelled that way). Are you going for a sequel, like Mission Impossible 2 ?

I cant drink milk so I am stuck with beer, and its hard to drink a beer without a smoke.

Also, what would the fox do if the grapes were under a boulder?

Dirrrty habit! I used to drink as a teen for years nd not touched one ciggy or smoked anything in my life.... it's al in the miiind.. like all my friends who smoke say it's became such a habit they have to do it .. sorta like part of their routine

I see you are using stoch. 5/3/3. I've been using 8/3/3 for bout 6 weeks and it has become like a third eye. How do you use it?

Hi All

OK, I'll have a bit of a guess at this zone attack phase.

I'm just wondering if the "zone" that is being attacked are the points on the trendlines that Price approaches and then bounces off.

If we use the completion of each corrective move to plot our trendlines from forward on our charts, then we will have created points that we can anticipate Price visiting for us to "attack" or rather enter a trade at.

Probably wrong, any thoughts?

Alan

Hi Bankshot,

Sharing section, please correct me if I'm wrong.

I noticed that some other players use 8/3/3 too. But my view is that 5/3/3 (the only difference is the fast line), give me a bit quicker signal on divergence formation especially for a scalper who is looking for 10p ~ 20p per each quick trade, and quit whatever abnormal suspected. Take last night GU M15 as example below, you can see what I mean.

I trust it is something about our own balance on risk:reward, but not about which setting is better.

I'll have a try even it is probably wrong.

What I think is that the technique to trade within 2 major s/r levels. Instead of KC we usually use, we now base on rather short-term trend lines to play the A+ setup and break out trend trading, especially when the price arrives major s/r zone and being exhausted.

The second major point, we are going to trade really aggressive that we pick up each pullback and trade with the trend. It probably a kind of scalper trade too (in & out within each impulsive move). So we cant trade too many pairs at the same time but to focus on max 2 pairs only. We need high concentration.

Really exciting to wait for Sho's detail explanation next week.

City

Edit: Do similar analysis on yesterday EJ M15, see whether it is Sho's talking about

Sho, Here's my stab at the method behind Zone Attack.

1) Price has to be moving from one support or resistance zone to another (the blue zones in the chart)
2) Look for indecision candles such as dojis after strong momentum
3) Buy/Sell in the direction of previous momentum upon a close of the doji
4) Perhaps you also use the trend lines drawn on the chart. i.e. only trade off the doji in the direction of momentum if the trend line is unbroken

Perhaps the name of the method is such because the market is attacking the extreme levels at the support & resistance zones and of course we want to be in on that attack too.

Looking forward to the detail Sho, and thanks in advance for sharing more.

Rob

Thanks City,
I was just curious if there is any deminished accuracy at higher speed (or shorter period average). Sensitivity is greatly prised so long as you don't get the jerks. I've been doing some 1&5m scalping and have grown quite fond of the over 80 under 20 crutch.

I try to explain what I understood:

We draw support/resistance zone (may be from 4 hours chart or may be 15 min. history but we dont go very far and take the most current one)

Now we will see bounce of these levels and will confirm with momentum and impulsiv wave. Now will wait for the pull back on trend line and will
confirm with price action (where price get rejected.) And will pull the triger.
Now we will wait for the next rejection level, if that level is in our favour we will add another entry and if it is our against we will close the entry.

And we will look the other way to reverse our position.


Our great Sho would explain better.

Thanks Sho.

hello Sho,
i follow your methode but as i am a very very old man i try to let your methode work for me on the H1 chart. Less stress for me. It worked quite good so far. But still i am interessed in your zone atack teaching. Maybe i can use it also on bigger TFs.

what i see on the chart, for me it looks like EURUSD around the 27 of may

1. the first 2 extrem levels came from the last extrem levels the day before
2. i understand the first 5 entrys and the first stoped out
3. i am not shure about the 2. stoped out and the yellow stopped out and reversed, or is it just one event: the magneta stopped out leads to the yellow reversed?
4. i dont know when we know the 3. and the 4. extrem level. For my understanding it is only to be seen in hindside, so what help do we get from this?
5. i do understand the short entries 6 - 9 but not the last one, the 10. I am missing a retrace candle there , price aktion is dobble low, breaking the former candles high and making a higher high , so that i bullish. The next candle retrace to the breakout line , OK thats clear but where do we put the Stoploss if we enter here?


i hope i not teasing you with my questions, maybe further teaching will answer all this and throw clear light on me

thank you for your teaching us, c you next week

Mike I am past 50 so what are you calling very, very old?

For trading you dont have to be young or old.old is better.looks like i am the youngest one.dont ask me how old i am .
yes you can trade any time frame,do whatever that suits you.time frame is personal choice.i trade swing trades from 15 min time frame and participate in daily time frame trading.its all depend on your self.you dont need to trade smaller time frame to make.money is in all time frame.do what you feel comfortable.

yes it is 27th of may.it does not matter what day is.chart is a chart.

Well i have not explained anything yet.that was only a shot from poor sho.
are you ready for the rest?

i love it when someone teas me.specialy when my wife does.
i am not sure if i can teach you something.because i am not a teacher,just a trader.will share how i do. rest will depend on you guys.if you can get anything from me thats fine.if you dont i cant do anything.and please dont blame me.

like if you show someone how to drive a car, does it mean? the person will learn it straight away easily without any effort.
take everything slowly(dont say i am old).
-------------------------------------------------------

TO ALL===
its not 100% guranteed methood.why i am sharing this?because i enjoy sharing.
first of all i want to tell everyone few things before i start to go through this phase.i wanna tell you what this methood is and what involved in this part of the methood.i am not a teacher or any lecturer and of course i am not an english man(but live in london).so excuse my tounge or my fingur .if any of my words hurts any body i apologise in advance for that.

i wanna build a solid foundation for you guys.its like a building.the more stonger the the foundation the better and stronger the building will be.
it will sound like you know everything and i am sure some of you allready know that,thats fine.
i would love to know something more from you.there is allways some space in my head to learn something new and discover new things.so feel free to share something that is valuable in trading.
if you find anything helpfull,if you want you can leave a comment on my profile.and you dont have to do that as well .
if anything is not helpfull in this thread ,look for for the next bus.and i am sorry that if i have wasted your time.

if anyone wants to use this bit in your trading you can,but if you dont like it dont use that . simple as that.

i dont wanna make this thread big,so dont ask me any stupid basic question here.for the basic info go to first page and you will find a link for basic info from babypips and a link for understanding of candle formation posted by BUILCITY.
but all the basic stuff you can discuss in my- second thread in -interactive -section.here is the link or you can see at the bottom of this thread,similer type of name as this thread without the poll.go there and discuss with each other.if you read the thread you will find some great ebook links.i would not tell you where but its your duty to find.
for any question basic or whatever you can pm me.i will try to answer my best.any time you get stuck shot me a pm.i dont mind anything to share with people.(only my wife is not allowed to share ,hah hah).
i belive whoever is here reading this thread so far you allready know all type of orders and diffrent type of brokers .

what this methood is-
this methood would not babysit anybody.

its not ABC methood.what i mean is it would not tell you to buy here sell there.

it can wipe out your account very quickly.need lots of extra concentration.you cant be like avarage people who gets distructed while trading.

this methood is to feel the market pulse nothing else.and again its not 100% right methood.we will get stoped out many times.its not under capitalised person.you need enough capital to keep miving.

we will trade two type of trading in the zone attack.

one will be bite size profit and another one will be bigger profit. sometime we will run for two to three days.

we would not use fix amount of pip as stop loss.allways we will use what market will tell us to do.if its big we will pass the trade.
maximum stop loss is 35 pips.that is maximum i use.

i have developed this methood from my stock trading.but i trade stock bit diffrenly with other tools.so dont think its the same animal.(to wake you up)

we will trade trend and counter trend trades.
---------------
----------------
what you need to understand before jumping to this phase---{if you want i can go through this bit for a while.(lets see what you guys think)}

good understanding of ----
support and resistant levels(not same as supply and demand levels)its sound tricky but its not.

trading pshychology.

money management

supply and demand levels

trend lines

all the candle formation.

all the patterns like flag,wedge,HS,double bottom. if you wounder why, i will show you why.

FIB zones.you have to be good at fib as well.

and of course you need to know the momentum bit.

remember trend reverses once and continuation happens again and again.allways more odds with the trend.allways try to walk first then run.if you are off by this list ,then this methood is not for you.

what we would not trade?
we would not trade all the above but we will trade price action .we will watch what price is telling us to do at those levels at that particuler time.


for day trading i would advise you to get a ECN broker.because we have to be in and out very quickly.we need fast execution.i advise you to trade only london session first and last few hours.dont go for dead market.your setup will fail again and again if you trade quite market.there is not enough orders in your direction to follow through your setup.
be active when all the big banks are active.sometimes all other session is good as well but it happens sometimes not all the time .so allways stack more odds in your favour while you are trading.
you can trade any time frame.higher time frame is better.if you trade above 15 min time frame you can use normal broker account.

FOR further---
what i want to see is some charts from you guys here with support resistant zone.
some patterns and fib levels.then i will go through the methood.


if i hearted anybody i apologise again.if it did not make any sence shot me a pm i will stop mumbling.
thats it for now.
good trading to all of you.
regards
sho
edit:added the chart again

It looks like everything is coming together now.

Very exited to learn more.

Sho,

Its still hard for me so far, I spent hours to read and re-read your messages but still cant get a clear idea. Anyway I tried per below pic.