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DanUK's Intraday Experiment

  • #41
  • Jul 5, 2010 5:29am Jul 5, 2010 5:29am
there is an obvious pinbar off s2, which if peeps took should already be 1:1. i didnt take it since i thought the down move is too strong.

nothing else happening for me
  • #42
  • Jul 5, 2010 8:39am Jul 5, 2010 8:39am
If the current bar closes as a pin of s2 i might take it!
Quoting coolshades
there is an obvious pinbar off s2, which if peeps took should already be 1:1. i didnt take it since i thought the down move is too strong.

nothing else happening for me
  • #43
  • Jul 5, 2010 9:25am Jul 5, 2010 9:25am
Hi folks!

Nice to see this thread.

Just curious as to the intraday strategy.

Is it basically intraday "swing" trading going on here or am I confusing something?

Cheers again!

Pip

PS: Where can i get hold of a pivot indicator? And what time (OHLC) is the pivot indicator used here based on?
  • #44
  • Jul 5, 2010 10:34am Jul 5, 2010 10:34am
i am going to stop looking for set ups now. its a low volume day due to US holiday
  • #45
  • Jul 5, 2010 10:36am Jul 5, 2010 10:36am
Today is a US bank holiday so I probably shouldn't have bothered trading however before I actually realised this I took this little one this morning...

EUR/USD buying climax into the daily pivot and 1.2550 psych level followed by a move back down. Took the break below the bar shown at 1.25466 and closed at 1.25234 for a 4% gain.

No other trades taken today.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 050710.gif Size: 27 KB
  • #46
  • Jul 5, 2010 10:53am Jul 5, 2010 10:53am
Quoting DanUK
Today is a US bank holiday so I probably shouldn't have bothered trading however before I actually realised this I took this little one this morning...

EUR/USD buying climax into the daily pivot and 1.2550 psych level followed by a move back down. Took the break below the bar shown at 1.25466 and closed at 1.25234 for a 4% gain.

No other trades taken today.
Hey Dan, what's your connection with price pivots and vsa?
  • #47
  • Jul 5, 2010 11:05am Jul 5, 2010 11:05am
you didnt take similar on cable? that would have run and run and run.

for some reason these two failed to jump out at me. anyway, tomorrow is another day.

Quoting DanUK
Today is a US bank holiday so I probably shouldn't have bothered trading however before I actually realised this I took this little one this morning...

EUR/USD buying climax into the daily pivot and 1.2550 psych level followed by a move back down. Took the break below the bar shown at 1.25466 and closed at 1.25234 for a 4% gain.

No other trades taken today.
  • #48
  • Jul 5, 2010 1:02pm Jul 5, 2010 1:02pm
Quoting Pipalicious
Hi folks!

Nice to see this thread.

Just curious as to the intraday strategy.

Is it basically intraday "swing" trading going on here or am I confusing something?

Cheers again!

Pip

PS: Where can i get hold of a pivot indicator? And what time (OHLC) is the pivot indicator used here based on?
Hi Pip,

It's quite a basic system really... I am looking for price action (pin bars, engulfing bars etc) and/or VSA type setups at intraday levels (pivots, round numbers etc).

I use "FXI Pivots" indicator which you should be able to download from Forex Factory if you do a search for it. Mine is set to my broker hours which seems to work well for me (GMT+1). I think there is a debate about what to use for your pivot hours - I have always found that something around GMT works. That's just in my personal experience though - I haven't done extensive research into it.

Regards,

Dan
  • #49
  • Jul 5, 2010 1:07pm Jul 5, 2010 1:07pm
Quoting forexben
Hey Dan, what's your connection with price pivots and vsa?
Hi,

Well it's an addition really. When I started to do this type of trading it was based on Acumen's Pivots/Trendlines etc thread - I was looking at trading candlestick patterns off of pivot levels, round numbers, intraday trendlines and fib retracements (learned from Eyevoltage on Acumen's thread).

I stopped trading that way because I wanted to do something longer term... which I did ( http://www.forexfactory.com/showthread.php?t=187619 ) but recently became interested in intraday trading again (in addition to my long term stuff).

It just happened to be that I was also reading about VSA when I started intraday again and I noticed that there were often setups using VSA either on its own or in combination with other candlestick patterns.

Regards,

Dan
  • #50
  • Jul 5, 2010 1:08pm Jul 5, 2010 1:08pm
Quoting bez3000
If the current bar closes as a pin of s2 i might take it!
Hi bez,

Did you take the trade? If so, did it work out for you?

On my feed S2 is 1.51099 so there was no trade for me.

Regards,

Dan
  • #51
  • Jul 5, 2010 1:09pm Jul 5, 2010 1:09pm
Quoting coolshades
you didnt take similar on cable? that would have run and run and run.

for some reason these two failed to jump out at me. anyway, tomorrow is another day.
Hi Coolshades,

No I didn't. Reason being that it was before London open. Good trade if anyone took it though!

Regards,

Dan
  • #52
  • Jul 5, 2010 3:00pm Jul 5, 2010 3:00pm
No didnt close as a pin so no trade today.

Quoting DanUK
Hi bez,

Did you take the trade? If so, did it work out for you?

On my feed S2 is 1.51099 so there was no trade for me.

Regards,

Dan
  • #53
  • Jul 6, 2010 7:19am Jul 6, 2010 7:19am
I noticed a couple of pin bars today in quite good areas, just wondered if anyone placed a trade with them. Unfortunately they did not work out:

The eurusd was just short of the R2 and if order placed below would not have been triggered. But the eurjpy broke the R1 and almost touched the 500 RN and any pending short below would have been triggered. Am i missing a reason not to tack this trade or is it just one of those things that happens in trading?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 145 KB
Click to Enlarge Name: eurusd.jpg Size: 143 KB
  • #54
  • Jul 6, 2010 7:27am Jul 6, 2010 7:27am
1st chart, that pin: preceeding that pin was a counter pin, and hence ignored by me.

2nd chart - that pin closed on r1 and hence no no for me.

there was a good trade on cable today. can you spot it?

i myself took one very bad trade today and managed to escape with+ 1%.


my job is not a desk based job and that is posing serious challenges (it always did) to intraday.

Quoting bez3000
I noticed a couple of pin bars today in quite good areas, just wondered if anyone placed a trade with them. Unfortunately they did not work out:

The eurusd was just short of the R2 and if order placed below would not have been triggered. But the eurjpy broke the R1 and almost touched the 500 RN and any pending short below would have been triggered. Am i missing a reason not to tack this trade or is it just one of those things that happens in trading?
  • #55
  • Jul 6, 2010 7:33am Jul 6, 2010 7:33am
Thanks coolshades, is it the BEOB about 6 bars back of the R1 and 2000 RN? If not you got me!
  • #56
  • Jul 6, 2010 7:46am Jul 6, 2010 7:46am
pin off r1 2-3 hours back.

Quoting bez3000
Thanks coolshades, is it the BEOB about 6 bars back of the R1 and 2000 RN? If not you got me!
  • #57
  • Jul 6, 2010 8:03am Jul 6, 2010 8:03am
Quoting coolshades
pin off r1 2-3 hours back.
I noticed the pin its at the bar before the BEOB but the close is just above the R1 on my feed so didn't know if you guys would count it or not?
  • #58
  • Jul 6, 2010 8:32am Jul 6, 2010 8:32am
are we talking of same?

Quoting bez3000
I noticed the pin its at the bar before the BEOB but the close is just above the R1 on my feed so didn't know if you guys would count it or not?
Attached Image (click to enlarge)
Click to Enlarge Name: cable_15m_july2010.png Size: 38 KB
  • #59
  • Jul 6, 2010 8:54am Jul 6, 2010 8:54am
Yes same pin bar slightly different feeds i think, i use Alpari UK MT4. What are you using and have you changed any settings on the pivot indicator?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 139 KB
  • #60
  • Jul 6, 2010 2:59pm Jul 6, 2010 2:59pm
Hi guys,

No trades for me today.

I did see this one setup that I considered... EU selling climax followed by a move back up... could have been a buy for a very nice profit but I didn't take it because it didn't actually push down into R1 which I would have liked but mainly because it would have been trading straight into R2 and 1.2600 before having a chance to get the trade to BE on a 1:1.

It could have been traded if you moved your stop to BE quicker than normal but I passed anyway! Shame cus it was a cracker when it took off lol!

Regards,

Dan
Attached Image (click to enlarge)
Click to Enlarge Name: EU_2010-07-06_(No_Trade).png Size: 39 KB
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