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Intraday price action trend trading

  • #3,361
  • Jun 3, 2010 7:06am Jun 3, 2010 7:06am
Quoting Buildcity
You are really lucky, even high risk like me, I was out with little little

BTW, you are playing on M1
Not playing on m1 just showing the speed of the moves I was n same m15 trade as u the one u got out of quick
  • #3,362
  • Jun 3, 2010 7:24am Jun 3, 2010 7:24am
Quoting Sim
Not playing on m1 just showing the speed of the moves I was n same m15 trade as u the one u got out of quick
Seems we always have the same way of thinking
  • #3,363
  • Jun 3, 2010 8:23am Jun 3, 2010 8:23am
Classic
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  • #3,364
  • Jun 3, 2010 8:55am Jun 3, 2010 8:55am
Last trade today, caught 7 before the closing of London. Must stop now, overtrading already
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  • #3,365
  • Jun 3, 2010 9:42am Jun 3, 2010 9:42am
Quoting trade price
this is GU 4 hour
Sho,

You are very good at marking zones on the 4hr charts. Price travels from one to the other. GU was one perfect example today. 150 pips from one to the other.

I can look at 4hr charts and mark up zones but I tend to have more levels than what you have on your charts. So of course my question is; "how do you decide the important levels?" - which turn out to be very accurate.

Would you be able to explain a little more the way in which you define these areas?

Something else which you understand and I don't, is the difference between supply and demand levels and support and resistance levels.

Cheers,
Rob
  • #3,366
  • Jun 3, 2010 10:10am Jun 3, 2010 10:10am
Quoting priceaction
Sho,

You are very good at marking zones on the 4hr charts. Price travels from one to the other. GU was one perfect example today. 150 pips from one to the other.

I can look at 4hr charts and mark up zones but I tend to have more levels than what you have on your charts. So of course my question is; "how do you decide the important levels?" - which turn out to be very accurate.

Would you be able to explain a little more the way in which you define these areas?

[color=red]Something else which you understand and I don't, is the difference...
Tks Rob,

I don't know the difference too (S&R and supply & demand levels), may Sho explain it further pls?

Tks in advance
City
  • #3,367
  • Jun 4, 2010 2:03am Jun 4, 2010 2:03am
i wonder if this screenshot is a valid place and time to enter a long trade?
why i ask? The actuell bar is not closed jet. 7 minutes to go
I often have this situation: retrace to a good stoploss risk size like 10 pips or less but not the close of the bar. If then the bar close comes the stoploss is gowen much bigger
so do u all wait until the close of the signal bar or do you just jump in like a cowboy pulling his gun in a gun fight?
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  • #3,368
  • Jun 4, 2010 3:36am Jun 4, 2010 3:36am
1st trade today, classic one (short)
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  • #3,369
  • Edited 3:51am Jun 4, 2010 3:47am | Edited 3:51am
Quoting trade price
its just the practice.and yes there is difrence between Demand/supply with the support /resistant.
nothing special its a trick.
here you go EU 4 hour
OK Sho ...

So are the dojis (building up below the amber support line) an area of distribution (Supply) where the smart money is distributing their supply to meet the buying that is entering market?

Thanks,
Rob
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  • #3,370
  • Jun 4, 2010 3:47am Jun 4, 2010 3:47am
MJ,

Are you referring me?

Yes, I will

Quoting MJurban
i wonder if this screenshot is a valid place and time to enter a long trade?
why i ask? The actuell bar is not closed jet. 7 minutes to go
I often have this situation: retrace to a good stoploss risk size like 10 pips or less but not the close of the bar. If then the bar close comes the stoploss is gowen much bigger
so do u all wait until the close of the signal bar or do you just jump in like a cowboy pulling his gun in a gun fight?
  • #3,371
  • Jun 4, 2010 4:18am Jun 4, 2010 4:18am
Aggressive one, could be much much more fruitful if my boss didn't call me

Edit: shit, a 90p run
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  • #3,372
  • Jun 4, 2010 4:34am Jun 4, 2010 4:34am
Quoting trade price
Depends.
candles are just a tool to get the better picture.line charts can tell you even better.
dont worry we will get to that phase soon.but what i must tell you that you are the smart one.i like your learning style.and i am sure i can learn lots from you as well
specialy trading pshychology!!!!!!
OK, instead of candle talk, perhaps I could describe the situation as 'high volume with price going no where'. But still I see the market makers as supplying the buyers. Then as we just saw it ...the MMs sell.

I look forward to hearing more Sho.

The day I don't have to work on psychology or ask questions about S&D etc, is the day I can call myself smart.

Rob
  • #3,373
  • Jun 4, 2010 5:54am Jun 4, 2010 5:54am
1.4542 previous swing's high
price is retracing from there.
4H TF
  • #3,374
  • Jun 4, 2010 5:56am Jun 4, 2010 5:56am
double red lines are rejecting the price for a while
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  • #3,375
  • Jun 4, 2010 6:02am Jun 4, 2010 6:02am
i love your work i love to participate here but i'm off for now, don't want to be a pig heheheh.

be good and be safe.

regards,
dongsky
Success consists of going from failure to failure without loss of enthusiam
  • #3,376
  • Jun 4, 2010 6:21am Jun 4, 2010 6:21am
Can this be taken. Glad to get a review.
thanks in advance.
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  • #3,377
  • Jun 4, 2010 6:32am Jun 4, 2010 6:32am
Quoting newbie_fx
Can this be taken. Glad to get a review.
thanks in advance.
My view, if you really want to play long, do it a bit later if the price get through the 1.458 level.

For sharing
City
  • #3,378
  • Jun 4, 2010 11:51pm Jun 4, 2010 11:51pm
Quoting trade price
this is GU 4 hour
Sho, these levels work extremely well.

The oldest chart below is yours from yesterday afternoon.

The latest chart below shows where price ended the week.
Price missed my TP by 1.2 pips as I was out when the market closed

The lowest blue zone on both charts are at the same levels.

Your charts really help me identify these zones better. Not to copy, but to learn to identify. Thanks Sho.

Have a great weekend everyone. I'm off to the countryside where there are no bar charts, mobile phones or laptops

Rob
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  • #3,379
  • Jun 5, 2010 7:59pm Jun 5, 2010 7:59pm
Hope you dont mind if I post images... I am starting out so my analysis may be guess work to you. But guidance can lead me to perfection. I appreciate your hard work done on this thread. I am just another newbie who thinks of making money trading. Thank you.http://cdn.forexfactory.com/images/icons/icon7.gif
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  • #3,380
  • Jun 5, 2010 9:18pm Jun 5, 2010 9:18pm
On the daily chart here. This big move could also be a big rejection of the monthly pivot as it came lot earlier than NFP and it will be active for rest of the month. Moreover the TL is also acting as a strong resistance there.
As the previous up-move may have been resumed by the rejection of the weekly S1 as it seems.
Monday's new weekly pivot and the price above or below can give the direction for the rest of the week. I guess as long as the TL is steady the trend will continue downwards as the price has also slipped in the lower bollinger band. So the middle band will also be a good resistance point.
What worries me is previous to previous red candle close and low which could become support for the price.
Thank you.

Newbie_fx
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