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Intraday price action trend trading

  • #4,201
  • Jul 16, 2010 2:31am Jul 16, 2010 2:31am
Second look
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Annoying Precision
  • #4,202
  • Jul 16, 2010 2:32am Jul 16, 2010 2:32am
Quoting priceaction
EURJPY just provided a good example of price reaching a previous demand zone and entering a trade off an OB with a small stop.

The move might even go further but 40+ pips was possible from that one big momentum bar - and many would be happy with that.

Rob
Hey Priceaction, I don't know if you are told how valuable you are, I just wanted to thank you for all your posts and charts. I always look forward to reading your posts..
  • #4,203
  • Edited 2:46am Jul 16, 2010 2:33am | Edited 2:46am
Quoting Iplus3
Hey Priceaction, I don't know if you are told how valuable you are, I just wanted to thank you for all your posts and charts. I always look forward to reading your posts..
Second

Oh, his name is Rob
  • #4,204
  • Jul 16, 2010 2:43am Jul 16, 2010 2:43am
00's
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Annoying Precision
  • #4,205
  • Jul 16, 2010 2:50am Jul 16, 2010 2:50am
Quoting Buildcity
Second

Oh, his name is Rob
Thank you, I looked in his profile for his name and did not see it.. Well Rob is a cool guy...
  • #4,206
  • Jul 16, 2010 2:54am Jul 16, 2010 2:54am
Quoting Fxfighter
Hi Xeqter,
If I can,that bar is not outside bar but inside bar because is betwen high and low priot bearish bar.If you want outside bur should be that bullish bar high and low engulfing(must be biger )than prior bearish bar and better if his open and close is over prior bar.
With regard
FX
thnks, but I know the difference between those bars.. my only question was, if Sho makes a difference between an outsidebar and just an engulfing bar.. the better example is the m15 0945 gmt e/u bar.. this is not an insidebar, not an outside bar, but just a bullish engulfing pattern...
  • #4,207
  • Jul 16, 2010 2:58am Jul 16, 2010 2:58am
Quoting Iplus3
Hey Priceaction, I don't know if you are told how valuable you are, I just wanted to thank you for all your posts and charts. I always look forward to reading your posts..
Iplus3 you're welcome.

We're all here to learn and Sho has created a thread where everyone respects each other and if we have something we feel is helpful to others, then it's shared here.

I study every chart that Sho, City, Red and others post and they help me learn more. I'm happy that my charts do the same.

When I post charts, it also helps me look closer at my own trades so it's of benefit to me too.

Rob
  • #4,208
  • Jul 16, 2010 3:00am Jul 16, 2010 3:00am
rarrrr
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Annoying Precision
  • #4,209
  • Jul 16, 2010 3:12am Jul 16, 2010 3:12am
Get long on EU and EJ because there are two upbars (effort to move up

from SmartMoney) with high volume and strng momentum.

On EU i close half position at +20 and SL to BE,it should touch the orange zone.

EJ i close full position at +10 because there is no power to brake RN 113.00.
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Trade well and many pips to all. Martin
  • #4,210
  • Jul 16, 2010 3:29am Jul 16, 2010 3:29am
Quoting priceaction
EURJPY just provided a good example of price reaching a previous demand zone and entering a trade off an OB with a small stop.

The move might even go further but 40+ pips was possible from that one big momentum bar - and many would be happy with that.

Rob

You did it much better then i , but i´ve also stolen a view pips.
Trade well and many pips to all. Martin
  • #4,211
  • Jul 16, 2010 4:07am Jul 16, 2010 4:07am
comments welcome..
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  • #4,212
  • Jul 16, 2010 4:07am Jul 16, 2010 4:07am
Quoting xeqter
thnks, but I know the difference between those bars.. my only question was, if Sho makes a difference between an outsidebar and just an engulfing bar.. the better example is the m15 0945 gmt e/u bar.. this is not an insidebar, not an outside bar, but just a bullish engulfing pattern...
Ok sorry I misseunderstood your question.
FX
  • #4,213
  • Jul 16, 2010 4:09am Jul 16, 2010 4:09am
EURJPY presented a good opportunity earlier this morning and another one now.

Whether this one turns into a longer run remains to be seen but it was good for 22 pips if you just wanted a quick scalp. It's all a matter of individual trading style.

I've now moved the stop to the foot of the last complete 15 min bar so the risk is now just 2.5 pips.

Let's see how it unfolds.

Rob
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  • #4,214
  • Jul 16, 2010 4:10am Jul 16, 2010 4:10am
Quoting Fxfighter
Ok sorry I misseunderstood your question.
FX

no problem buddy... i'm sure it helped some people
  • #4,215
  • Jul 16, 2010 4:24am Jul 16, 2010 4:24am
Quoting xeqter
ah ok i get it, thanks ... but let's assume it was not such a flag..you would take an enugulfing bar as it is ?
today in EU m15 0945 gmt we have a good example, too.. it is not an outsidebar, but an engulfing pattern ( m30 pin )...don't know if it can be labeled as a flag.. but I mean the two bar pattern only.. damn it's hard to explain with my english skills
my man
dont worry i do understand.

i never take a possition only based on one candle or only two candle.
but any one candle can become a signal with some other confluence's.

in my book that is a perfect flag pattern.

only those two or last bullish bar(you are talking) them self are not a signal to take any trade.at least its not a signal for me.

trade with only one or two candle is like,blind man (who trade only based on one or two candle)trying to walk with his stick on the motor way(market).
i have not meet a trader who does only trade with candle.
if you talk about steve nison.i have meet with him i know his style.he never tells anybody ,only trade based on one or two candle.
one or two candle can become very powerfull when you can use them with other confluence.

attached the same chart and setup for you.

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  • #4,216
  • Jul 16, 2010 4:26am Jul 16, 2010 4:26am
Quoting priceaction
EURJPY presented a good opportunity earlier this morning and another one now.

Whether this one turns into a longer run remains to be seen but it was good for 22 pips if you just wanted a quick scalp. It's all a matter of individual trading style.

I've now moved the stop to the foot of the last complete 15 min bar so the risk is now just 2.5 pips.

Let's see how it unfolds.

Rob
Stop loss now moved to the open of the last complete 15 min bar.

I normally place it at the foot, but I want to lock in at least something so this gives me a guaranteed 12 pips.

The last bar showed a lot of momentum, so I will use that fact as my edge that could possibly win me more pips, if momentum continues after this short break.

Note how the previous 3 bars engulfed the 5 bars that preceded them.

Rob
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  • #4,217
  • Jul 16, 2010 4:30am Jul 16, 2010 4:30am
Missed Rob's EJ one, then go for GU!!

Some kinds of range play, do it quick.
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  • #4,218
  • Jul 16, 2010 4:37am Jul 16, 2010 4:37am
Quoting priceaction
Stop loss now moved to the open of the last complete 15 min bar.

I normally place it at the foot, but I want to lock in at least something so this gives me a guaranteed 12 pips.

The last bar showed a lot of momentum, so I will use that fact as my edge that could possibly win me more pips, if momentum continues after this short break.

Note how the previous 3 bars engulfed the 5 bars that preceded them.

Rob
Stop loss now moved to the foot of the last complete bar, locking in 27 pips.

I'm getting close to being stopped out but so far so good.

Rob
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  • #4,219
  • Jul 16, 2010 4:47am Jul 16, 2010 4:47am
Quoting priceaction
Stop loss now moved to the foot of the last complete bar, locking in 27 pips.

I'm getting close to being stopped out but so far so good.

Rob
Stop loss remains in the same place.
Momentum picks up again.

I could close at +50 now, but on this occasion (because I got a few quick scalps early in the session, and +24 from the GU move just now) I will allow the trade to play out (also because we have seen some good momentum) by just moving up my stop loss.

Rob
  • #4,220
  • Jul 16, 2010 4:48am Jul 16, 2010 4:48am
We have a demand region and the 61.8 as the support.
My belief is that if that area gives way we may have trouble.

Any ways I am a learner here... but I am putting my 2 cents...

We also have probably 3 IBs forming on 1H TF... so lot of indescision..

crazy friday I beleave...

Any corrections will only improve me... thanks

EDIT:- 61.8 has been tested lets see...
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