Attachments: Effective 5M intraday trading

Effective 5M intraday trading

#361
Jun 23, 2010 7:41am Jun 23, 2010 7:41am

bbolss
| Joined Mar 2010 | Status: Trader | 355 Posts

it is impossible ;p
this larger bar after break of neckline it was about 5secs - i was carefoul wathing;p

and to the last moment we couldnt known if it will be a break or not it could failed like it failet at point where we had our entry...
we couldny known if it will break or retrace
good that thr retrace was small - it was just 3pips from my sl;p

#362
Jun 23, 2010 7:48am Jun 23, 2010 7:48am

___
| Additional Username | Joined Jun 2010 | 2 Posts

Hit SL ((

Quoting ___

Disliked

Hello guys!
My re-entry:
EP - 1.2269
SL - 1.2280
TP - 1.2245

Any comments?

Ignored

#363
Jun 23, 2010 8:01am Jun 23, 2010 8:01am

bbolss
| Joined Mar 2010 | Status: Trader | 355 Posts

this tl was to strong you should wait till break if you wanna enter there;p em i right?
bdw what have just happend? ;|

#364
Jun 23, 2010 8:16am Jun 23, 2010 8:16am

snusnufreak
| Joined Jun 2009 | Status: Trader | 550 Posts

Quoting bbolss

Disliked

it is impossible ;p
this larger bar after break of neckline it was about 5secs - i was carefoul wathing;p

and to the last moment we couldnt known if it will be a break or not it could failed like it failet at point where we had our entry...
we couldny known if it will break or retrace
good that thr retrace was small - it was just 3pips from my sl;p

Ignored

Well, you never know anything for sure on forex, however its up to you to either follow some strict and predefined set of rules or enter market using some other stuff including one's own prejudices.

In my previous post I tried to explain how its done by professionals who write books on technical analysis: Don't enter on the break of anything, allways wait for retest! Its up to you if you accept this approach or not.

Regards,
snu

#365
Edited 2:33am Jun 24, 2010 1:09am | Edited 2:33am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Good morning, guys.
EU watch:
Look at 1H chart. Price reached very strong S/R lvl 1.2351, Price bounced from this lvl for several times. So I expect move down.
5M : H&SHS model is forming, nice div on MACD. After Londons open will search for a setup to go short.

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#366
Jun 24, 2010 2:09am Jun 24, 2010 2:09am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

I entered into smaller H&SHS model after breaking and retesting TL after IB at 1.2335 with 20 pips SL.
Main Goal according to ABCD model is near 1.2110.
Now price's retesting the neckline. May be there will be formed re-entry setup for those of us, who missed early entry. Regards

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#367
Jun 24, 2010 2:24am Jun 24, 2010 2:24am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Quoting Eat_My_Short

Disliked

I entered into smaller H&SHS model after breaking and retesting TL after IB at 1.2335 with 20 pips SL.
Main Goal according to ABCD model is near 1.2110.
Now price's retesting the neckline. May be there will be formed re-entry setup for those of us, who missed early entry. Regards

Ignored

SL moved at BE, cause price may be pumped further up before the final run down

#368
Jun 24, 2010 4:01am Jun 24, 2010 4:01am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Priced was stopped for several bars at 61.8% fiboretrace lvl.
But I am still in, cause there is no MACD divergence to be worried about.
I will stay short until divergence is formed.
As pro's says, "Stay in a trade from the divergence until next divergence" ;-)
So I expect only tiny pullback to the one of the EMA's.

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#369
Jun 24, 2010 4:06am Jun 24, 2010 4:06am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Forgot to mention.
Very nice hidden Div is forming on Stoch, wich prove my suggestion about trend continuation. So, we are all gonna look for a trend cont. setup to entry, but i'll skip it, I suppose, cause leading different orders on the same pair is to difficult for me.

#370
Jun 24, 2010 5:12am Jun 24, 2010 5:12am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

This is pretty confusing. Looks like possible H&SHS are forming to provide much deeper pullback. I will close short after the break of the neckline to temporary buy for about 20 pips and then re-enter short. Let as usual the market to decide=)

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#371
Jun 24, 2010 5:29am Jun 24, 2010 5:29am

serguey777
| Additional Username | Joined May 2010 | 38 Posts

between LSH and Head -have to ( = MUST ) be - Divergence - on 1.Volume 2. MACD 3.MFI and etc. .... no divergence now - use MACD (5.13.1)....

#372
Jun 24, 2010 5:45am Jun 24, 2010 5:45am

serguey777
| Additional Username | Joined May 2010 | 38 Posts

1. Double Divergence = between LSH and Head - if You want to play here - use caculation correct cluster level - entry 2B Pattern... this entry means Right Side of Neck.... 2. Triple (Quadriple) Divergence = between LSH and RSH ( or 2-nd RSH) in this case You play standart Head&Shoulder Pattern - here You can use two kind of entries -a. according to the strict RULES - Break of Neck Line - Re-Test..... b. using abcd formation inside RSH = a little bit earlier....

#373
Jun 24, 2010 6:13am Jun 24, 2010 6:13am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Closed short for +50 pips.
Local hidden div on stoch proves my long entry is correct.
I boght at 1.2288 after breaking and retesting TL and neckline.
TP is tiny at 1.2315

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#374
Edited 7:23am Jun 24, 2010 6:49am | Edited 7:23am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Quoting Eat_My_Short

Disliked

Closed short for +50 pips.
Local hidden div on stoch proves my long entry is correct.
I boght at 1.2288 after breaking and retesting TL and neckline.
TP is tiny at 1.2315

Ignored

15 pips SL hit. I huriied. S/R KG lvl wasn't actually broken. Now we have 2B pattern for sure in the right shoulder provides entry at 1.2280. Price also may form doble bottom before upside move. Of course, there also may not be any upside move, who knows=)

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#375
Jun 24, 2010 8:32am Jun 24, 2010 8:32am

Eat_My_Short
| Additional Username | Joined Jan 2010 | 50 Posts

Quoting Eat_My_Short

Disliked

15 pips SL hit. I huriied. S/R KG lvl wasn't actually broken. Now we have 2B pattern for sure in the right shoulder provides entry at 1.2280. Price also may form doble bottom before upside move. Of course, there also may not be any upside move, who knows=)

Ignored

I got filled at 1.2280 and 35 pips TP was hited. Now it's about 70 pips for todays's trading day. Next step - short setup on euro on US session.

#376
Jun 24, 2010 8:35am Jun 24, 2010 8:35am

serguey777
| Additional Username | Joined May 2010 | 38 Posts

in the begining of American Session we Have Double Bottom formation and have to follow according to the RULES of this Pattern ....( one name of this Pattern - High Probability - 93% - prove opposite )...Double Bottom means - 5-th Wave - Failed -- to-day's High - X - .... Low (5-th wave ) -A- now is forming AB ..... UPSIDE...

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