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intraday trend trading with price action

  • #2,021
  • May 31, 2010 7:13pm May 31, 2010 7:13pm
Quoting trade price
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.
I try to explain what I know about these things:
Fib levels:
Fib is just a tool to read the market sentiment.
The most confusing part in fib is to identify the swing high and low. Once you find the swing high and low you draw the fib. Now 38, 50 and 68 are not just lines but they are actually levels means they are not exact prices. Now you have to watch the price action on these levels, With confirmation of price action you take shots and set the target. See the picture below:
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  • #2,022
  • May 31, 2010 7:21pm May 31, 2010 7:21pm
Support and resistance are just levels where price has reacted before, this time they may hold or not you never know. So see the price action here, market has to proof if that level is holding or if they are broken then become opposite for example if support is broken it would become resistance and mark would proof it by retesting it and get rejected. Nothing is guaranteed or always true, marked do what it wants to do but we are talking what happens mostly.

Trend Line:
We draw a line by lower lows and if trend is upward market get back to trend line and bounce back. Here again price action would confirm if pull back is finished or up trend is finsished now.
As Great Sho mentioned if we read price action, we can use any thing. Thats are just my own ideas dont know correct or wrong.
Attached Image(s) (click to enlarge)
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  • #2,023
  • Jun 1, 2010 6:46am Jun 1, 2010 6:46am
Hi Sho

I just noticed that you define supply/demand levels as being different from support and resistance, I always thought they were the same. May I ask what is the difference?

If I remember according to Sam S, the supply/demand is the areas where institutions are looking to fill there orders. I just kinda thought that this was another way of defining major support and resistance but now I'm thinking otherwise after your comments.

Cheers
Ross
Want what the market wants
  • #2,024
  • Jun 3, 2010 4:33am Jun 3, 2010 4:33am
Hi, not working today so having some time to study, and here is what i see on Euro 4h chart.

Attached Image (click to enlarge)
Click to Enlarge Name: EU36.jpg Size: 151 KB
  • #2,025
  • Jun 9, 2010 3:21am Jun 9, 2010 3:21am
here you go some recent charts in the zip.no magic pill.just from my few days.may be you guys can get something out of them.
good trading to all and play wisely.
Attached File(s)
File Type: zip some charts.zip   347 KB | 1,240 downloads
  • #2,026
  • Jun 9, 2010 3:32am Jun 9, 2010 3:32am
Quoting trade price
here you go some recent charts in the zip.no magic pill.just from my few days.may be you guys can get something out of them.
good trading to all and play wisely.
Thanks Sho - zip file safely downloaded.
  • #2,027
  • Jun 10, 2010 4:17am Jun 10, 2010 4:17am
hello, sho


sho thanks, for having to share a very important knowledge. this is very very good thread. I've read them all. now I know the most important that you call is "Momentum"

thank you very much

RFC
  • #2,028
  • Jun 10, 2010 8:13am Jun 10, 2010 8:13am
sho,
thanks for more homework
cheers ant
Stop killing our Oceans, Stop using single use plastics.
  • #2,029
  • Jun 10, 2010 9:08am Jun 10, 2010 9:08am
Hi Sho,

Should we start the lesson of zone attack now, or we are still at the stage of baby trading?

Thanks for the teaching so far, really appreciated.

City
  • #2,030
  • Jun 13, 2010 10:32am Jun 13, 2010 10:32am
Paula has worked with Mark Douglas for many years, and once his primary focus went back to his own trading and books, Paula began providing performance counseling services to traders.

Here's a 68 minute talk that Paula did for Woodie (Ken Wood).

Incidentally, she is running a "Trading Prosperity Zone" workshop on June 26, 2010 in Scottsdale Arizona with Mark Douglas as a special guest.

Rob
  • #2,031
  • Jun 15, 2010 6:57am Jun 15, 2010 6:57am
ok here is few charts.its hard to explain everything because i am not good at english and in writing.i did it quick and simple way.showed just the basic entry and exit of zone attack.(not all)
i used The new's(have you told me your name if you did i am sorry i have forgoten) chart.to show some entry and exits .
whenever i come to the FF it does not matter which thread.i allways see more counter trades than with the trends.specially when people start trading they allways see reversal in a strong trend.why do you have to guess?
stay with the trend as long as you see its moving.why do you think it has done enough?
when it has done,it will tell you its going to the other direction.(use your eys.dont guess).

Remember.eventhough we call price retest the trend line(i call it as well)
but it does not.(i know you are thinking thats new and i am not right)
you bet i will prove it doesnot retest the trend line.dont worrry i will explain soon.you will heard lots of thing from me that is hard to belive.

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Quoting DangerBoy
Hi Sho

I just noticed that you define supply/demand levels as being different from support and resistance, I always thought they were the same. May I ask what is the difference?

If I remember according to Sam S, the supply/demand is the areas where institutions are looking to fill there orders. I just kinda thought that this was another way of defining major support and resistance but now I'm thinking otherwise after your comments.

Cheers
Ross
its bit tricky but i will explain more when i can.its depend on the time frame that we trade.actully its similer but i call them diffrent way.but it will be clear when i will explain with the chart.i have not covered in this post but dont worry i will do in the future.

Quoting Buildcity
Hi Sho,

Should we start the lesson of zone attack now, or we are still at the stage of baby trading?

Thanks for the teaching so far, really appreciated.

City
we did started allready.when i mentioned that.everyone was thinking about the setups.doing bit drawing.
its a combo style.when we combine everything together.we attack every week point of the move to capitalise.see all the charts.

Quoting xeqter
thanks for your reply, sho!
but actually i meant only the setup itself... not considering the trend or s/r right now, i mean if you see a momentum bar and the an "insidebar-pin" or a normal pin directly after the momentum bar... no pin in other direction, no retracement after momentum and so on..
would you take it, if every other condition is met i.e. with trend, not into s/r line and so on?
thanks,
cheers!
yes i do.see all the charts you will get more idea..

Quoting Thenew
Thanks Sho,
And another question , would you have passed on the PB short trade because of the prior IB could provide some support? Thanks in advance for your kindness...

Attachment


hope all the charts answerd your question.i think some others traded the same setups yestarday.

Good trading to all of you
Regards
sho
  • #2,032
  • Jun 15, 2010 9:33am Jun 15, 2010 9:33am
Quoting trade price
ok here is few charts ...
Sho, this is great and I really appreciate you taking the time to help us all by marking up the charts.

Please can you explain the "Source" for me as this is something I'm not clear about.

Thanks again!
Rob
  • #2,033
  • Jun 15, 2010 1:07pm Jun 15, 2010 1:07pm
Thank you Sho,

I have several years trading experiences (2 in FX), took some costly courses, brought stupid robots, and my a/cs were still blow again and again.

Your teaching here is free, but it is invaluable for me.

I just love the zone attack, it perfectly for my personality. Surely it takes time to practice but I would definitely spend all my times to learn from it.

Hope that I can remove all the rocks in front of me, one day.

There is no word can describe how I appreciated from your efforts to the community

City


Quoting trade price
ok here is few charts.its hard to explain everything because i am not good at english and in writing.i did it quick and simple way.showed just the basic entry and exit of zone attack.(not all)
i used The new's(have you told me your name if you did i am sorry i have forgoten) chart.to show some entry and exits .
whenever i come to the FF it does not matter which thread.i allways see more counter trades than with the trends.specially when people start trading they allways see reversal in a strong trend.why do you have to guess?
stay...
  • #2,034
  • Jun 15, 2010 3:52pm Jun 15, 2010 3:52pm
Quote
hope all the charts answerd your question

Thanks a lot Sho, very nice explanation as always.

Btw my name is Luis...
  • #2,035
  • Jun 15, 2010 4:14pm Jun 15, 2010 4:14pm
i wish i had read the blue paragraph 2 hours ago (check out dow trade) muppet
http://cdn.forexfactory.com/attachme...1&d=1276602395
Stop killing our Oceans, Stop using single use plastics.
  • #2,036
  • Jun 16, 2010 2:10am Jun 16, 2010 2:10am
Quoting Buildcity
Thank you Sho,

I have several years trading experiences (2 in FX), took some costly courses, brought stupid robots, and my a/cs were still blow again and again.

Your teaching here is free, but it is invaluable for me.

I just love the zone attack, it perfectly for my personality. Surely it takes time to practice but I would definitely spend all my times to learn from it.

Hope that I can remove all the rocks in front of me, one day.

There is no word can describe how I appreciated from your efforts to the community

City
Almost the same story here, you might find simular stories all over the FORUMS:


I can only follow City and I realy thank you Sho for your efforts to all of us

MJ
  • #2,037
  • Jun 16, 2010 3:58am Jun 16, 2010 3:58am
GOT to close my platform (working)but this could be interesting, what do you thing for me it seems weakness at an interesting point on eurjpy 4 hours

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Click to Enlarge Name: ej16.png Size: 43 KB
  • #2,038
  • Jun 16, 2010 8:07am Jun 16, 2010 8:07am
thx sho for your explanation i'm still learning.
  • #2,039
  • Jun 16, 2010 1:38pm Jun 16, 2010 1:38pm
Sorry Sho, my post 2037 should have been posted on live trading threath, you can delete this one if you wish, my fault...

Cheers...
  • #2,040
  • Edited Jun 18, 2010 8:39am Jun 17, 2010 12:32pm | Edited Jun 18, 2010 8:39am
Brett Steenbarger has perhaps the largest free collection of trading psychology articles on the net, and are available for downloading at http://www.brettsteenbarger.com/articles.htm
There are some interesting titles there.

A number of his articles are also published throughout ForexFactory by Editor.

Here is an audio presentation which Brett did.

Rob
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