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Intraday price action trend trading

  • #3,381
  • Jun 5, 2010 11:43pm Jun 5, 2010 11:43pm
Quoting newbie_fx
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....
Hi newbie welcome in to the world of Forex, you seem to have the good state of mind to learn, which is crucial to be successful in forex. my best advice is start by learning naked chart, don't start by trying to learn indicator, look a live chart as many hour you can, and understand the market behavior learn where market react on demand and supply , so many newbie try to understand indicator and don't understand market movement, where it will bounce etc.. learn dynamic support and resistance, and you will become and excellent trader. and another suggestion change your id name for something else then newbie unless you want to trade like a newbie all the time, remember every thing in life is a state of mind game, if you picture yourself as a newbie you will trade as a newbie.

welcome again newbie hope you will see the value in this
  • #3,382
  • Jun 6, 2010 2:05am Jun 6, 2010 2:05am
Quoting Lejumeau
Hi newbie welcome in to the world of Forex, you seem to have the good state of mind to learn, which is crucial to be successful in forex. my best advice is start by learning naked chart, don't start by trying to learn indicator, look a live chart as many hour you can, and understand the market behavior learn where market react on demand and supply , so many newbie try to understand indicator and don't understand market movement, where it will bounce etc.. learn dynamic support and resistance, and you will become and excellent trader. and another...
You're welcome.

I have been demoing for long time and I know that indicators tell you about the past and price action with S/R tells you what to look for in near future.
I do not rely upon any indicator other than RSI for divergence only and that too not to make a trade but to close a trade. The chart has the indicators to get the feel of PA.
Technically my live account started from this month (from 01/06) with a humble size of 1 mini lot. I know its all about mindset but newbie will change when I make real gains first. I cant start with boasting that I can trade like trade price, with all due respect to him.

Let me achieve something, literally and then I will be a Pro_fx. How about that? catch ya later mate. peace.
  • #3,383
  • Jun 6, 2010 2:51am Jun 6, 2010 2:51am
I am also very new.

What I see on the shorter TF's is a possibility for a US retracement on Monday, maybe in asia session. I have looked at several important pairs in squashed 5 min charts and think it is possible. Have a look. If I see a confirmed trend change in the 5 min charts I will consider going long against US on a few pairs but only very short term.

So I think there is a possible long GBP/USD trade but only a small/short duration one. What might happen is that when the US powers up again against the rest of the pairs it will stall / reverse GBP progress. I see the daily as up on GBP/USD but still has to face the weekly which I see as down.

open to other opinions.
  • #3,384
  • Edited 3:02am Jun 6, 2010 2:58am | Edited 3:02am
Weekly revision on the EJ
Nice pin is formed in H4 chart, and pretty good sits on support zone of 109.5~7.

See whether there is opp to have a long trade, 1st target on 111 (100p run)

H4 overview, H4 close view and M15 trigger
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  • #3,385
  • Jun 6, 2010 3:07am Jun 6, 2010 3:07am
Quoting Buildcity
Weekly revision on the EJ
Nice pin is formed in H4 chart, and pretty good sits on support zone of 109.5~7.

See whether there is opp to have a long trade,

yeah this ties in with what i see at a glance with several pairs, I question myself though because it seems obvious, so maybe the big boys will force the oposite ??
  • #3,386
  • Edited 4:52am Jun 6, 2010 4:00am | Edited 4:52am
Quoting adamnz
yeah this ties in with what i see at a glance with several pairs, I question myself though because it seems obvious, so maybe the big boys will force the oposite ??
Tks mate, I'm no expert but trying to learn more to read the market from higher time frame down to M15. Hope this is right and welcome all to comment.

For the GU, I still find it is struggling within a short range. No any longer view on this. So let the coming price tell me. Or may be Rob (Priceaction) can inspire us somehow

come to this active trade room during week days, we will learn more from those experts.

Cheers
City
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  • #3,387
  • Jun 6, 2010 10:24am Jun 6, 2010 10:24am
Cable made a strong move down on Friday and the week closed with a perfect weekly pin in the direction of the trend.

Will it continue down or reverse at the current level of support?

Good luck on Monday guys.

Rob
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  • #3,388
  • Jun 6, 2010 11:31am Jun 6, 2010 11:31am
Quoting priceaction
Cable made a strong move down on Friday and the week closed with a perfect weekly pin in the direction of the trend.

Will it continue down or reverse at the current level of support?

Good luck on Monday guys.

Rob
I had been looking at that and was considering waiting until I saw what was happening when the market opens, but may have to wait for the London open, and then probably going long since this area may be good for a decent bounce.

I am also thinking that EU is very possibly also due for a bounce.

The USD has reached a fairly strong support which will also help and many people may be starting to wonder about the last NFP which was not good and would have been dismal if it had not included all those temporary census workers hired.
  • #3,389
  • Jun 6, 2010 12:05pm Jun 6, 2010 12:05pm
Quoting moonchild
I had been looking at that and was considering waiting until I saw what was happening when the market opens, but may have to wait for the London open, and then probably going long since this area may be good for a decent bounce.

I am also thinking that EU is very possibly also due for a bounce.

The USD has reached a fairly strong support which will also help and many people may be starting to wonder about the last NFP which was not good and would have been dismal if it had not included all those temporary census workers hired.
Yes, I'll wait until morning CET and watch price action.

If it does retrace from this current level of support (Friday's target), a retracement to the 1.46 region should not surprise us. Then again a direct fall from where we are now should not surprise us either

Rob
  • #3,390
  • Jun 6, 2010 1:36pm Jun 6, 2010 1:36pm
Quoting priceaction
Cable made a strong move down on Friday and the week closed with a perfect weekly pin in the direction of the trend.

Will it continue down or reverse at the current level of support?

Good luck on Monday guys.

Rob

From my chart, it says cable has some way to go, come Monday... and am betting a lotsize on this
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From the tips to the dips, it's all about the pips
  • #3,391
  • Jun 6, 2010 7:10pm Jun 6, 2010 7:10pm
Quoting newbie_fx
You're welcome.

I have been demoing for long time and I know that indicators tell you about the past and price action with S/R tells you what to look for in near future.
I do not rely upon any indicator other than RSI for divergence only and that too not to make a trade but to close a trade. The chart has the indicators to get the feel of PA.
Technically my live account started from this month (from 01/06) with a humble size of 1 mini lot. I know its all about mindset but newbie will change when I make real gains first. I cant start with boasting...
keep the good work
  • #3,392
  • Jun 6, 2010 11:36pm Jun 6, 2010 11:36pm
Morning all, really hard to catch this 16p

1st pic in, 2nd pic out
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  • #3,393
  • Jun 7, 2010 12:01am Jun 7, 2010 12:01am
Steady rasie up, catch +13 from the last blue
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  • #3,394
  • Jun 7, 2010 12:59am Jun 7, 2010 12:59am
good morning gents, just back from a lovely break with the family in spain,
back to work

eric are you not a millionaire yet
Stop killing our Oceans, Stop using single use plastics.
  • #3,395
  • Jun 7, 2010 1:00am Jun 7, 2010 1:00am
Trade with the trend, bu didn't look good, so sharp cut

1st & 3rd pic: entry
2nd pic: exit

Edit - still don't know how to manage the sequence of attachment
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  • #3,396
  • Jun 7, 2010 1:02am Jun 7, 2010 1:02am
Quoting jakdan
good morning gents, just back from a lovely break with the family in spain,
back to work

eric are you not a millionaire yet
Haha, not yet, give me 10 more years....... to try......hopefully
  • #3,397
  • Jun 7, 2010 1:06am Jun 7, 2010 1:06am
Hey, Ant, Alan, Hova, your turn now. Keep this trading room active.

See you later on today.

Bye

Have good pips all
  • #3,398
  • Jun 7, 2010 4:37am Jun 7, 2010 4:37am
Very lonely here this morning.

Got 20 pips so far.

  • #3,399
  • Jun 7, 2010 5:04am Jun 7, 2010 5:04am
Quoting Buildcity
Hey, Ant, Alan, Hova, your turn now. Keep this trading room active.

See you later on today.

Bye

Have good pips all
It is really good to see that people are starting to vouch for you.

I really learn a lot from you by studding your trades.

Keep going, you are an inspiration.

  • #3,400
  • Jun 7, 2010 5:27am Jun 7, 2010 5:27am
Quoting matlobien
It is really good to see that people are starting to vouch for you.

I really learn a lot from you by studding your trades.

Keep going, you are an inspiration.

Matlobien,

Thanks for the nice words, I'm just doing what I can do for the thread.
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