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Intraday price action trend trading

  • #3,941
  • Jul 9, 2010 2:58am Jul 9, 2010 2:58am
My guess too, great short moment, keep an eye on this
  • #3,942
  • Jul 9, 2010 3:45am Jul 9, 2010 3:45am
I think it is forming a risinge wedge (bearish pattern) on the daily. Major trends are bearish and price is getting also overbought on the daily. Waiting to short it.

Best Regards

MarketInvestor
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  • #3,943
  • Jul 9, 2010 4:06am Jul 9, 2010 4:06am
hi guys, are these correct entries? were there any ones i missed?

thanks
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  • #3,944
  • Jul 9, 2010 4:26am Jul 9, 2010 4:26am
too bad I did not take this one, because I had sho's words in my mind to be aware of strong candles before our entry candle.. here we see 2 strong green candles, so i skipped this trade.. would have worked out nicely for +30...
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  • #3,945
  • Jul 9, 2010 4:31am Jul 9, 2010 4:31am
Quoting xeqter
too bad I did not take this one, because I had sho's words in my mind to be aware of strong candles before our entry candle.. here we see 2 strong green candles, so i skipped this trade.. would have worked out nicely for +30...
ditto, i was
i wonder if the thief took the chance, he was watching it also,
Stop killing our Oceans, Stop using single use plastics.
  • #3,946
  • Jul 9, 2010 4:33am Jul 9, 2010 4:33am
Quoting rogerdoger
hi guys, are these correct entries? were there any ones i missed?

thanks
roger, classic longs, and the second short, quite brave for first short, just my opinion.
cheers ant
Stop killing our Oceans, Stop using single use plastics.
  • #3,947
  • Jul 9, 2010 4:48am Jul 9, 2010 4:48am
In my view, we've seen a fake-break of GU (up to 1.52) prior to a sell off - crafty buggers aren't they!

A selection of rejections from the 1.52 zone; with none of the attempts to break above looking very genuine. Even though the last 1hr bar closed 'sort of solid', I believe it consisted of a gang of 5 min whipsaws, all sent out from the square mile in London to pull the wool over our eyes.

Below is what I see perhaps unfolding in the bigger picture for GU today.

I'm short at 1.5195 with a stop at 1.5210. Let's see how this unfolds. Right or wrong, I feel it's a small price to pay for a 'potentially' highly profitable trade.

I'm also looking for UJ & the Aussie to get set for descent.

But then I could be completely wrong

Any comments guys?

Good luck out there!

Rob
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  • #3,948
  • Jul 9, 2010 4:51am Jul 9, 2010 4:51am
Quoting Buildcity
My guess too, great short moment, keep an eye on this
hi city i'm watch EJ and EU to. i have got sho setup. nice entry sell

eu +30 ej +20 i'm done for this week

thank you sho, city and all my friend. now i'm trading more better and better

happy pips to all
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  • #3,949
  • Jul 9, 2010 5:06am Jul 9, 2010 5:06am
Quoting trade price
as long as your first target (was previous resistant and support)does not break dont take any long term short.that is one of the biggest demand level.
but you can go for intraday quick shorts and long inside the box
Sho, thanks for that.

From reading and listening to Sam Seiden, I note that every time a demand (or supply) zone is revisited, there are less and less buyers (or sellers) remaining.

With this in mind, I'm seeing that GU has visited the demand level marked "1st target" several times. And upon the last visit, price didn't move very far north (although it could if price goes up instead of down).

With this in mind, I would draw the conclusion that "if" price moves down from where it is right now; breaking below the 1st target will not be as difficult as it proved to be on previous visits.

What are your thoughts on this?

Thanks,
Rob
  • #3,950
  • Jul 9, 2010 5:14am Jul 9, 2010 5:14am
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Red
  • #3,951
  • Jul 9, 2010 5:24am Jul 9, 2010 5:24am
Previous candle is a ST off the TL and a probably a pennant.
PA is close to long term channel top and is taking a decision for the new direction.
Another test to the low of the smaller channel is possible.

Weekly TF direction is still UP


Go with the momentum...
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  • #3,952
  • Jul 9, 2010 5:32am Jul 9, 2010 5:32am
long loony, scalping
  • #3,953
  • Jul 9, 2010 5:36am Jul 9, 2010 5:36am
Quoting trade price
nothing will save you from the market(i mean methood,trend line,ea ,indi,best book,best platform).but stop loss and understanding of supply and demand can.
Well said Master

Just came back from long long business meeting, now can join the party.

City
  • #3,954
  • Jul 9, 2010 5:38am Jul 9, 2010 5:38am
Quoting trade price
one more thing.acording to order book.at any level supply can absorve demand and can become resistant.same with opposite.demand can absorve supply.specially when price revisit that level again.
Ok understood - thanks Sho
  • #3,955
  • Jul 9, 2010 5:59am Jul 9, 2010 5:59am
Just caught this downward move, 2 trades
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  • #3,956
  • Jul 9, 2010 6:05am Jul 9, 2010 6:05am
eh stopped, cad news
  • #3,957
  • Jul 9, 2010 6:12am Jul 9, 2010 6:12am
Another 8 from last bar, really quick, forget to take pic during trade
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  • #3,958
  • Jul 9, 2010 6:16am Jul 9, 2010 6:16am
all most stopped out here, good CAD news, sudden YEN selling
  • #3,959
  • Jul 9, 2010 6:48am Jul 9, 2010 6:48am
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Cad news at 1415 will likely take prices to this supply, also loony at a support too, might turn as cadjpy tests this supply



Red
  • #3,960
  • Jul 9, 2010 6:49am Jul 9, 2010 6:49am
Quoting rfc
hi city i'm watch EJ and EU to. i have got sho setup. nice entry sell

eu +30 ej +20 i'm done for this week

thank you sho, city and all my friend. now i'm trading more better and better

happy pips to all
Sorry, got time to read the posts before now as the market is slow down.

Tks for the nice word, all credits go to Sho who told us what is A++ setup, which applies to all TF, any pair.

Happy trading
City
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