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Intraday price action trend trading

  • #4,301
  • Jul 20, 2010 8:42am Jul 20, 2010 8:42am
Quoting Petar_Serbia
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
Ha ha ...yes Petar, let's keep Soros in our sights!

I bet when he was sailing across the Atlantic in 1956 to save up $500,000 on Wall Street he was saying the same about Jesse Livermore

Rob
  • #4,302
  • Jul 20, 2010 8:44am Jul 20, 2010 8:44am
I am watching the price on level which was previously as support now acting as resistance. I will go short with price action confirmation and would see if that level can be hold.
Please comments, I am learning and watching you guys every day.
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  • #4,303
  • Jul 20, 2010 9:15am Jul 20, 2010 9:15am
Quoting 786 trading
I am watching the price on level which was previously as support now acting as resistance. I will go short with price action confirmation and would see if that level can be hold.
Please comments, I am learning and watching you guys every day.

Couple of things that I have noticed with respect to Supply Demand & Sam Seiden's classes 786,

1. Look at the red candle on your immediate left. Drill down to a lower tf and look for short opportunity. Your SL should be above the red candle high + 2-5 pips depending on trade risk.

2. The retracement if you enter now would be a 2nd retracement and not the first retracement. I'd keep my risk low.

3. Look for quick TP1 and TP2 and let the trade run.

While Support sometimes becomes resistance. We know that retracements and supply zones work. Hope this helps.

Happy Trading!
  • #4,304
  • Edited 10:09am Jul 20, 2010 9:41am | Edited 10:09am
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
It was a good run down. I could have closed the trade when it hit the previous supply zone for over 120 pips but I made the decision to hold it and have just been stopped out at on a 15 min pin at a minor battle zone for +59 pips.

Let's see what happens if price reaches the previous supply zone again in the 113 area.

Rob

EDIT: I forgot to mention ...I'm now long EJ
  • #4,305
  • Jul 20, 2010 9:45am Jul 20, 2010 9:45am
Quoting 786 trading
I am watching the price on level which was previously as support now acting as resistance.....
Market seems to change its mind so I. Trying to dance with market.
One question if any body can comments:
As it is demand level, and it broke, market retested and get rejected.
But it was fake and it is still demand level.

Can we avoid this market trick?
  • #4,306
  • Jul 20, 2010 10:00am Jul 20, 2010 10:00am
Hi mate,

Haha, Rob has provided good explanation that I have no more to add. What I want to say is I am still a "baby" in the eyes of Sho, I did many silly trades that no need to follow. Yes I'm still a student here, just a bit earlier than you to join the school.

City




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
  • #4,307
  • Jul 20, 2010 10:11am Jul 20, 2010 10:11am
Anyone caught this IB out break? Shit still in up move!!
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  • #4,308
  • Jul 20, 2010 10:13am Jul 20, 2010 10:13am
Quoting priceaction
It was a good run down. I could have closed the trade when it hit the previous supply zone for over 120 pips but I made the decision to hold it and have just been stopped out at on a 15 min pin at a minor battle zone for +59 pips.

Let's see what happens if price reaches the previous supply zone again in the 113 area.

Rob

EDIT: I forgot to mention ...I'm now long EJ
Hi Rob,

You have got yourself another good trade! GREAT!!
Thanks for the highlight on that level.
  • #4,309
  • Jul 20, 2010 10:13am Jul 20, 2010 10:13am
Quoting 786 trading
I am watching the price on level which was previously as support now acting as resistance. I will go short with price action confirmation and would see if that level can be hold.
Please comments, I am learning and watching you guys every day.
Hi 786 trading,

Look first i must say that tehnique you use is good for larger frame like H1,H4,Daily,Weekly becouse on larger frame we see cleaner Swings and than we can feel the market better.For smaller frames use SHO or whatewer you want from FF...Also in your situation usually after second of retrace we see broke,you will see on your picture price go up and then retrace than you can take some pips second time i dont play.


CHeers
"Buy on fear, sell on greed !!!
  • #4,310
  • Jul 20, 2010 10:32am Jul 20, 2010 10:32am
Quoting Buildcity
Anyone caught this IB out break? Shit still in up move!!
Missed it. Actually stop-loss was 17 pips more then I can afford. So was waiting for replacement but market did not give the second chance.......
  • #4,311
  • Jul 20, 2010 10:35am Jul 20, 2010 10:35am
Quoting 786 trading
Missed it. Actually stop-loss was 17 pips more then I can afford. So was waiting for replacement but market did not give the second chance.......
Plenty of Sho's setups today. So just be patience, cheer up
  • #4,312
  • Jul 20, 2010 10:52am Jul 20, 2010 10:52am
Quoting Buildcity
Anyone caught this IB out break? Shit still in up move!!
I'm happy with another 11 after the retracement
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  • #4,313
  • Jul 20, 2010 10:56am Jul 20, 2010 10:56am
Hey Rob,

Are you still in hedging your EJ?

Quoting priceaction
EDIT: I forgot to mention ...I'm now long EJ
  • #4,314
  • Jul 20, 2010 11:15am Jul 20, 2010 11:15am
Classic
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  • #4,315
  • Jul 20, 2010 11:22am Jul 20, 2010 11:22am
Quoting Buildcity
I'm happy with another 11 after the retracement
Hi Eric,
You stick to your R:R 1:2 (Rules to exit) ?
Or you have also other factor that provide you with the exit reason?

From your post, I assume that you are a discipline trader who stick to your exit rule. Am I right?

Thanks
  • #4,316
  • Jul 20, 2010 11:23am Jul 20, 2010 11:23am
Quoting Buildcity
Hey Rob,

Are you still in hedging your EJ?
Hi mate,
I got stopped out for +59 on the short and have just closed the long for +34.

Rob
  • #4,317
  • Edited 11:58am Jul 20, 2010 11:34am | Edited 11:58am
Quoting Veritos
Hi Eric,
You stick to your R:R 1:2 (Rules to exit) ?
Or you have also other factor that provide you with the exit reason?

From your post, I assume that you are a discipline trader who stick to your exit rule. Am I right?

Thanks
You pointed my weakness, haha.

R:R for me is to set my hard SL & TP simply for the job of auto EA. But I will close my trade whenever I spot anything wrong, no matter it is positive or negative.

I don't think I'm a discipline / patient trader like Rob by the way, but I do happy with my small trades.

Hope this clear.

City
  • #4,318
  • Jul 20, 2010 11:47am Jul 20, 2010 11:47am
Quoting priceaction
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; [color=Navy]"Price just consolidated and moved slightly...
thanks for your answer, makes sense!

cheers
  • #4,319
  • Jul 20, 2010 8:12pm Jul 20, 2010 8:12pm
Quoting Buildcity
Classic
hi，Buildcity，can you share your template ，it looks nice。。。
  • #4,320
  • Jul 21, 2010 1:11am Jul 21, 2010 1:11am
Quoting lucas101
hi，Buildcity，can you share your template ，it looks nice。。。
Check this link
http://www.forexfactory.com/showpost...&postcount=436
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