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Intraday price action trend trading

  • #4,281
  • Jul 20, 2010 5:44am Jul 20, 2010 5:44am
Hi Rob,

Which color you want?

Quoting priceaction
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
Attached Image (click to enlarge)
Click to Enlarge Name: shorts.jpg Size: 75 KB
  • #4,282
  • Jul 20, 2010 5:46am Jul 20, 2010 5:46am
Quoting priceaction
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
I must say!! Fancy photoshop Rob!

I concur with you totally. But like Seiden says, "I dont knw if the level will stop working. I'm willing to keep shorting as long as my R:R and odds enhancers are right!"
  • #4,283
  • Jul 20, 2010 5:48am Jul 20, 2010 5:48am
Quoting Buildcity
Hi Rob,

Which color you want?
- HotDog 5 pls mate!
  • #4,284
  • Jul 20, 2010 5:51am Jul 20, 2010 5:51am
Quoting arjuncora
I must say!! Fancy photoshop Rob!

I concur with you totally. But like Seiden says, "I dont knw if the level will stop working. I'm willing to keep shorting as long as my R:R and odds enhancers are right!"
I could be right and could be wrong. The market will decide ...not me
This is now a free trade for me and I'm happy to let it play out.

By the way, it's Paint.net - Free at www.getpaint.net

Rob
  • #4,285
  • Jul 20, 2010 6:38am Jul 20, 2010 6:38am
Trying to learn this method of trading. Took this short because of hidden bearish divergence and the price retraced to the 61.8 level of last move down.
Attached Image
  • #4,286
  • Jul 20, 2010 6:43am Jul 20, 2010 6:43am
Quoting mdiz2
Trying to learn this method of trading. Took this short because of hidden bearish divergence and the price retraced to the 61.8 level of last move down.
Nice entry. good luck with this

Remember there is news out of the US in 45 mins.

Rob
  • #4,287
  • Jul 20, 2010 6:46am Jul 20, 2010 6:46am
Quoting mdiz2
Trying to learn this method of trading. Took this short because of hidden bearish divergence and the price retraced to the 61.8 level of last move down.
S/L set to break even after close of bar in profit.
  • #4,288
  • Jul 20, 2010 6:47am Jul 20, 2010 6:47am
Quoting priceaction
Nice entry. good luck with this

Remember there is news out of the US in 45 mins.

Rob
Thank you for reminding me. I got burned earlier by not paying attention to the news.
  • #4,289
  • Jul 20, 2010 6:53am Jul 20, 2010 6:53am
Quoting mdiz2
Thank you for reminding me. I got burned earlier by not paying attention to the news.
Not listed on FF is the fact that Goldman Sachs plans to announce its second quarter 2010 financial results today in 7 mins time.

Whether it moves the market is another thing but just take care.

Rob
  • #4,290
  • Jul 20, 2010 6:59am Jul 20, 2010 6:59am
Quoting mdiz2
S/L set to break even after close of bar in profit.
you have a nice h4 pin in your direction...maybe it's worth to let it run for a while.. but manage it carefully!
  • #4,291
  • Jul 20, 2010 7:05am Jul 20, 2010 7:05am
Trade safe + trade well guys



See you all
Attached Image
  • #4,292
  • Jul 20, 2010 7:29am Jul 20, 2010 7:29am
Quoting mdiz2
Thank you for reminding me. I got burned earlier by not paying attention to the news.
Closed the trade for 33 pips. Don't want to hold it into the news. Set a pending lower incase it goes that way.
  • #4,293
  • Jul 20, 2010 7:31am Jul 20, 2010 7:31am
Below are 10 opportunities to have successfully shorted GBPUSD so far today using Sho's method.

The first few were a bit gutsy, but the rest were all downhill.

Rob

EDIT: I can see more but 10 is enough
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 15 Min.jpg Size: 127 KB
  • #4,294
  • Jul 20, 2010 7:38am Jul 20, 2010 7:38am
Quoting priceaction
Below are 10 opportunities to have successfully shorted GBPUSD so far today using Sho's method.

The first few were a bit gutsy, but the rest were all downhill.

Rob

EDIT: I can see more but 10 is enough
Hi Rob. Hope all well buddy.

See, this is what "confuses" me even though im reading the pdf's and other learning thread.

I see many trades (including Buildcity ) that arent taken at swing highs and lows. They seem more like "continuation entries" if that makes sense...

Am i right in assuming this or not?

Dont want to distract the thread but it is something i just dont seem to get. Need to get this into me thick skull somehow lol.

Cheers
  • #4,295
  • Jul 20, 2010 7:47am Jul 20, 2010 7:47am
Quoting priceaction
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
Look how well price reacts when it reaches certain zones which "have a history".

For my EJ short, this will likely be a defining moment.

Let's see what the market decides to do.

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 1hr.jpg Size: 202 KB
  • #4,296
  • Jul 20, 2010 7:50am Jul 20, 2010 7:50am
Quoting priceaction
Look how well price reacts when it reaches certain zones which "have a history".

For my EJ short, this will likely be a defining moment.

Let's see what the market decides to do.

Rob
EURJPY is clear for me just is question when we will see 115 or 117...

This is my charts i posted 2 days ago...


http://www.forexfactory.com/showpost...postcount=3592 and
http://www.forexfactory.com/showpost...postcount=3606


Cheers and happy trading
"Buy on fear, sell on greed !!!
  • #4,297
  • Jul 20, 2010 7:53am Jul 20, 2010 7:53am
Quoting Pipalicious
Hi Rob. Hope all well buddy.

See, this is what "confuses" me even though im reading the pdf's and other learning thread.

I see many trades (including Buildcity ) that arent taken at swing highs and lows. They seem more like "continuation entries" if that makes sense...

Am i right in assuming this or not?

Dont want to distract the thread but it is something i just dont seem to get. Need to get this into me thick skull somehow lol.

Cheers
I know what you mean.

Trades 1, 2, 3 & 4 were reversals which of course are more risky.

The others were simply pullbacks in a trend. i.e. identify the trend (use Keltners to help you) then wait for pullbacks and opportunities such as IBs, OBs and pins to enter.

I hope this helps. Perhaps City or Sho can add more.

Rob
  • #4,298
  • Jul 20, 2010 8:11am Jul 20, 2010 8:11am
Quoting Petar_Serbia
EURJPY is clear for me just is question when we will see 115 or 117...

This is my charts i posted 2 days ago...


http://www.forexfactory.com/showpost...postcount=3592 and
http://www.forexfactory.com/showpost...postcount=3606


Cheers and happy trading
Hi Petar.

I saw your chart yesterday earlier in the thread. Great to see your analysis.

That's what makes a healthy market ...different opinions and we are all sometimes right and sometimes wrong. If we were otherwise we would be wealthier than Soros

Price has just hit a minor supply zone and formed a 15 min pin in the downward direction. Let's see if it wants a 2nd attempt at breaking that support. Or not

If the 15 min pin is broken to the upside, I shall close my trade with about a 60 pip profit. So a great trade whatever happens.

Rob
  • #4,299
  • Jul 20, 2010 8:26am Jul 20, 2010 8:26am
Quoting priceaction
Hi Petar.

I saw your chart yesterday earlier in the thread. Great to see your analysis.

That's what makes a healthy market ...different opinions and we are all sometimes right and sometimes wrong. If we were otherwise we would be wealthier than Soros

Price has just hit a minor supply zone and formed a 15 min pin in the downward direction. Let's see if it wants a 2nd attempt at breaking that support. Or not

If the 15 min pin is broken to the upside, I shall close my trade with about a 60 pip profit. So a great trade whatever happens.

Rob...
Yea thanks Rob,

YOu also doing great Job and just keep that in future...Soros will be litle fish for us for about 3,4 years
"Buy on fear, sell on greed !!!
  • #4,300
  • Jul 20, 2010 8:27am Jul 20, 2010 8:27am
Quoting trade price
you did great Rob..
We will have a lesson on,supply,Demand and institutional order flow with chart. Will post that in the main thread whenever i can if guys are interest.
To all_
you guys r doing ok.
Any question about my methood,through me,i have it.will answer whenever i can.
Best regards
sho
Hi Sho!

That would be great if you could thank you. Im sure all here will think the same

With regards to your method and the question I just asked Rob... when we trade with the trend, we wait for impulsive move, then correction, and enter with pa formation.

Now, just to clear my head up a bit more (thanks aswell Rob).

1) When we enter on the pullback, can entries be a simple one bar pullback within the trend?

2) Do entries (conservative) always happen at previous swing highs/lows that are broken with speed? Reason I ask is because reading your other thread I understood that if we trade previous swing highs/lows we are trading fractals. And here we trade with momentum...¿?

Sorry to ask this but i really am a bit confused with this.

Thanks again for your support and the team here aswell!

Cheers

Omar
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