Intraday price action trend trading

Morning folks!

Hope all is well in Pip Paradise lol

Here is a chart of Usd/Chf 15m

Would like to know how you guys would classify this? I think its A+ per Sho's methodology.

Also wondering if anyone here takes note of previous days high and low?

I believe its interesting how it repeatedly turns at or around these areas quite a lot.

Cheers!

Omar

Hi Sho ,
It is look we got divergenciu on G/U.

Hi guys,would you enter at the open or at the 50% retracement?

I would enter after the retrace of last blue, it probably be stop out, then re-enter after the pin, my play only.

GU is at an interesting level.
Let's see whether demand outstrips supply at this area for a second time - or not.

Rob

Please,leave EURJPY to me I am specialist...


I posted on my thread charts but i will post again >


Weekly and H4 >


Weekly show me JPY weakness and i also see big Sup...On H4 i see HIlo corection and i hope i will see TP



Cheers and take care

PS. Trade price you are my bro too

I really cant hold on any more, on one hand I am looking for long on GU, on the other hand I look for short on EJ. But it didnt work out this way. No trade for hrs!!

I'm going home now.

Trade well all

City

PS - Sho is really bore when the world cup is end.

That level didn't hold and the market moved down but with no real momentum,

Price meets another area of interest - perhaps more significant than shown in my earlier chart.

Let's see if this entry off a 15 min pin & IB out off a previous proven demand zone works out.

Rob

Hehe,

Same same x 2, hehe

update: Result: 1st closed with +9, 2nd +3 only when the price move down, manual cut.

hi rob,

As you know I am new to this supply & demand stuff, but anyways I have a question concerning your 3x supply level. I would like to discuss that in terms of orders sitting there.
Before that level was used as a supply level 3 times meaning there were a lot of sellers interested in that level, lots of short orders sitting at that level and made price shoot downward.
But when price breached the supply level, sellers were not anymore interested in that level and let the buyers turn the market to the upside.

Now, in terms of orders: can we really assume that there is now demand at this level only because it was supply before? I mean, are buyers equally interested in that level as the sellers were? Price just consolidated and moved slightly upward suggesting to me that either the level was not anymore significant to any of the market participants or we had a big fight between sellers and buyers. But it does not suggest that buyers heavily favor that level in the moment.

Or am I totally wrong with this?

And yes, I know that notion that resistance can turn into support and so on. Just wanted to discuss this stuff in terms of likelihood that this supply level indeed will now be used as a demand level.

cheers

Hi men,

excuse me for my stupid doubt,

Should I add the spread to the stop loss size and then calculate my % of money management, or only use the simple stop loss?

thanks

vur

In the most precise way you can, but it wont make great difference. My thought

Morning Custos,

I love good questions like this as they make me really think, which is great as I still have a lot to learn. Here's my view on this:

I felt that last night's area to go long had shown itself to be a probable launch pad, particularly as it had already proven itself to be a demand zone earlier on. And as Sam Seiden teaches, price often returns to a proven supply or demand zone at least once. So for me, this was "a potential 2nd visit to observe carefully".

You wrote; "Price just consolidated and moved slightly upward suggesting to me that either the level was not anymore significant to any of the market participants or we had a big fight between sellers and buyers. But it does not suggest that buyers heavily favor that level in the moment."

I think it does - at least enough to see direction. When we see consolidation, demand and supply are in equilibrium. When the market finally moves in either direction, we see whether there was an imbalance of supply or demand. The extent of the imbalance will always be different. Admittedly it was not one of those situations which stood out like a sore thumb, or where most people would say; "that's clearly an extreme level of support or resistance"; but an excess of demand was there. I've marked up last night's chart below with the area that I viewed as a previous demand zone and the consolidation that occurred for a while.

We are given to understand that markets spend much of their time in consolidation - or ranges. Which means they will travel between boundaries until they decide not to.

The fact that the same level had also proven itself as being a supply zone three times before it became demand, lends weight to the assumption that this zone might well be one of those boundaries that the market ranges between.

James16 calls these areas "pivot zones" and he once wrote; "pivot zones are not a defined single pip values but have a range of width based on time frame. Many times they are almost to the pip and easy to see and sometimes not."

As we know, price movement has no guarantees, but based on the above (and price action in that area), I felt I had an edge to trade with, and, with a risk of 15 pips, I felt comfortable in applying that edge in a trade. Lucky for me, my edge has my trade up 89 pips right now.

That's my view and it would be good to hear other peoples' comments on this too (in English Sho! )

Rob

I cant sleep with overnight trade

[quote=priceaction;

As we know, price movement has no guarantees, but based on the above (and price action in that area), I felt I had an edge to trade with, and, with a risk of 15 pips, I felt comfortable in applying that edge in a trade. Lucky for me, my edge has my trade up 89 pips right now.

Rob[/quote]

I know what you mean mate!
I used to have dreams about the trades back in the old days when I used super-sized stop losses.

But a 15 pip risk ...I can sleep with that

Rob

Have pinbars on H1 on interessting supplyzone at RN.

I shorted this, what do you think, any comment wellcome.

Close half position at +25, SL to BE ,rest will ride on.

Will it brake the M15-TL??? Or will the TL push the price back through the supplyzone???

sho trade after momentum to downside, retrace, then pinbar.. away from 1.30 rn
m30 pin too, thats why i kept my pending order after the first pin did not get broken the next bar
exit at daily pivot

Classic = pretty good pips

It seems that institutions love sellling at 113. Perhaps it's only a matter of time before the bulls get the message and this pair sells off significantly. Or not, as the case may be.

If the supply zone doesn't get approached again, I anticipate a target of 105.

Of course there would be numerous retraces and trouble spots en-route, but looking at the weekly chart, that's what I anticipate could be the destination.

I'm short at 112.75 with SL at BE and will let this play out as a longer term trade.

Rob