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Effective 5M intraday trading

  • #301
  • Jun 16, 2010 7:20am Jun 16, 2010 7:20am
Here's a picture of long setup on EU. Everything according to the rules descrbed in post 1.

I didn't enter because of hesitation.
Now I would like to see a pullback with stoch going below 50, this will provide me with additional entry to the upside.

Regards,
snu.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4.gif Size: 29 KB
  • #302
  • Jun 16, 2010 8:11am Jun 16, 2010 8:11am
EP 1.2322
SL 1.2300
TP 1.2450

Entered on the break of upper TL (I drew it when 15M macd turned to upside)

Snu.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4.gif Size: 27 KB
  • #303
  • Jun 16, 2010 8:18am Jun 16, 2010 8:18am
a litle risky for me
litle div on macd?

you could be right or it can be a 2t?

fingers crossed;d
  • #304
  • Jun 16, 2010 8:26am Jun 16, 2010 8:26am
Hi Snu! I entered by your strategy))
EP 1.2322
SL 1.2300
TP 1.2450
Attached Image (click to enlarge)
Click to Enlarge Name: 12.gif Size: 27 KB
  • #305
  • Jun 16, 2010 8:30am Jun 16, 2010 8:30am
Quoting bbolss
a litle risky for me
litle div on macd?

you could be right or it can be a 2t?

fingers crossed;d
Thx bbolss.

Check out post #292 and #294, it is identical situation. i was looking at the divergence on MACD and missed my entry to the upside.

I talked to serguey and he explained that divergence should be looked for only when price reaches one of the important lvls according to the model you're playing.

snu.
  • #306
  • Jun 16, 2010 8:37am Jun 16, 2010 8:37am
yes you are right
but what hapend with buy low sell high?;d
  • #307
  • Jun 16, 2010 8:55am Jun 16, 2010 8:55am
Quoting bbolss
yes you are right
but what hapend with buy low sell high?;d
I wish I could answer that xD
  • #308
  • Jun 16, 2010 10:02am Jun 16, 2010 10:02am
Quoting snusnufreak
EP 1.2322
SL 1.2300
TP 1.2450

Entered on the break of upper TL (I drew it when 15M macd turned to upside)

Snu.
SL hit -22 pips
  • #309
  • Jun 16, 2010 10:21am Jun 16, 2010 10:21am
i told you
it could be taken from the start dont you think?
im playing with some scapls now so i didnt take it but i saw it
Attached Image (click to enlarge)
Click to Enlarge Name: alf8.jpg Size: 136 KB
  • #310
  • Jun 16, 2010 9:23pm Jun 16, 2010 9:23pm
Good morning traders!

I'm not gonna be trading today, since I have my graduation exams!

I wish everybody good luck and a nice trading day!

Regards,
snu
  • #311
  • Jun 16, 2010 11:20pm Jun 16, 2010 11:20pm
Here is 1H and 5M charts.
1H: 50% fibo retrace with doublebottom formation and TL bounce.
5M: TL is broken. Waiting for retrace to the TL to enter long.

Any thoughts, folks?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5M.JPG Size: 82 KB
Click to Enlarge Name: 1H.JPG Size: 148 KB
  • #312
  • Jun 17, 2010 12:37am Jun 17, 2010 12:37am
2B pattern formed. Picture shows EP and SL lvls.
I entered a bit earlier after IB.
Attached Image (click to enlarge)
Click to Enlarge Name: 123.JPG Size: 106 KB
  • #313
  • Jun 17, 2010 1:44am Jun 17, 2010 1:44am
Quoting Eat_My_Short
2B pattern formed. Picture shows EP and SL lvls.
I entered a bit earlier after IB.
Closed half manually at +60. Sl at BE. Looking forward for more profit
  • #314
  • Edited 3:45am Jun 17, 2010 3:04am | Edited 3:45am
Closed the other half at +132.

Cause price riched the first target - 138.2% fibo extention from the correction move.

Now I expect correction retracement after such a great move with valid setup created to enter long again.

Good luck, fellows!
Attached Image (click to enlarge)
Click to Enlarge Name: 21.JPG Size: 63 KB
  • #315
  • Jun 17, 2010 10:20pm Jun 17, 2010 10:20pm
Eu pic shows that target is reached. Both ABCD models worked out their lvls.

The formation looks like double top. I'll be looking for shorts as soon as I spot a setup to the downside.

Regards,
snu
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 33 KB
  • #316
  • Jun 17, 2010 11:41pm Jun 17, 2010 11:41pm
Morning.
Can we consider this as a TL to enter short? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 111.JPG Size: 137 KB
  • #317
  • Jun 18, 2010 1:02am Jun 18, 2010 1:02am
Quoting Eat_My_Short
Morning.
Can we consider this as a TL to enter short? Thanks.
Plz read how we use and drow TL's
I don't see any local divergence first of all.

Regards,
snu.
  • #318
  • Jun 18, 2010 1:25am Jun 18, 2010 1:25am
There is div on 30M chart(1st pic). If we consider marked area as an upside move, why cant we draw TL like this?

Also on 5M chart (2nd pic) div is formed.
I entered short according to 2B-pattern rules at 1.2403.

What is ur view?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 21.JPG Size: 94 KB
Click to Enlarge Name: 12.JPG Size: 54 KB
  • #319
  • Jun 18, 2010 3:04am Jun 18, 2010 3:04am
Quoting Eat_My_Short
There is div on 30M chart(1st pic). If we consider marked area as an upside move, why cant we draw TL like this?

Also on 5M chart (2nd pic) div is formed.
I entered short according to 2B-pattern rules at 1.2403.

What is ur view?
Your 2B pattern is wrong:

1. The bar didn't close above previous high.
2. We only consider 2B pattern on Right shoulder.

Your entry is correct, i guess.

We had TLB + retrace and fakeout to the upside. If you saw that then your EP is justified.

Regards,
snu.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 32 KB
  • #320
  • Jun 18, 2010 8:34am Jun 18, 2010 8:34am
Quoting snusnufreak
Good morning traders!

I'm not gonna be trading today, since I have my graduation exams!

I wish everybody good luck and a nice trading day!

Regards,
snu
Good luck with your exams -I hope they went well!

Andy
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