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Intraday price action trend trading

  • #4,401
  • Jul 23, 2010 4:05am Jul 23, 2010 4:05am
hey guys. i'm buy euro with sho system. on flag PATTERN for bullish continuation. buy from dip with pinbar signal. lets ride
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  • #4,402
  • Jul 23, 2010 4:06am Jul 23, 2010 4:06am
Quoting Buildcity
Hi mate,

Yes, the red star you pointed is a signal bar for ready (conservative play), the next green for entry. But also check around any major s/r levels. Trade safe mate

City
Yes thank you Buildcity, i saw the clear reaction off 1.2800 level and that was round number acting as s/r.

Yes i will play safe, today i take my time to read again and again sho's post and will be backtesting the strategy with a trade simulator during the weekend.

Hopefully will come back monday to participate in this outstanding thread.

@priceaction: thank u for your kind welcome.
1st step stop loss in the green 2nd step play with the free money
  • #4,403
  • Jul 23, 2010 4:15am Jul 23, 2010 4:15am
Quoting xeqter
Hi bro,

I don't know your trading routine and your experience with Sho's mehtod, but in the beginning I would strongly recommend to first stick to very few pairs like 2-3 max.
For the some of us this are E/U, E/J and G/U...
Sure, the method works on any pair and any timeframe, but it is very useful to first get the gist of the method and to get to know the behavior of the certain pairs..

nevertheless, the loss could have happend on any other pair,too. And if your prefered pair is E/A, then stick to it, my only intention is, that you should first...
Thank you for your input. You and the other people here are really helpful and I appreciate how you help people learn.

I watch a lot of pairs but in reality almost all my trades are on 3 or 4. I like to watch a lot to try and get a feel for recognizing the set ups and what happens when they occur. I have been trading for 9 months and am just trying to get as much chart time under my belt as possible because I believe that is what is need to learn to trade.

The news is what got me on that trade. I know better than to trade at news time but it was a lack of descipline that caused me to not check first. Paitance and descipline are things I need to work on.

I wish you many green pips.
  • #4,404
  • Jul 23, 2010 4:33am Jul 23, 2010 4:33am
Quoting trade price
its a momentum bar reversed.see its bigger than others,mean something is unusual for the down trend.
always trade with the momentum.
even if you enter wait for bar to break(conservative )
try to stick with the main pairs.specially when you are new to the methood.
you will get more than enough setups.
eur/aud those are the nasty pairs.even its hard for experiance people.
Thank you, I see what you are saying. You have the best thread I have seen on FF.
  • #4,405
  • Jul 23, 2010 5:49am Jul 23, 2010 5:49am
We've seen tremendous momentum on GBP & Euro pairs this morning due to all that good news out of major economies; Germany and UK.

Using the method Sho teaches, below are three opportunities to have jumped on the EURJPY momentum train, as it slowed down to pick up new passengers. All with just 10-15 pips of risk. A similar picture for other pairs too.

Safer to climb on board when the train slows down, than when it's traveling at 200kph.

Rob
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  • #4,406
  • Jul 23, 2010 6:08am Jul 23, 2010 6:08am
Quoting priceaction
We've seen tremendous momentum on GBP & Euro pairs this morning due to all that good news out of major economies; Germany and UK.

Using the method Sho teaches, below are three opportunities to have jumped on the EURJPY momentum train, as it slowed down to pick up new passengers. All with just 10-15 pips of risk. A similar picture for other pairs too.

Safer to climb on board when the train slows down, than when it's traveling at 200kph.

Rob
To help me learn, the first trade was right at the time news was coming out. Do you recomend entering a trade when there is a news event to be announced.
  • #4,407
  • Jul 23, 2010 6:19am Jul 23, 2010 6:19am
Quoting mdiz2
To help me learn, both those trades were right at the time news was coming out. Do you recomend entering a trade when there is a news event to be announced.
Often I don't enter trades when there is major news due out. In the situations shown on the chart, the risk was small by using tight stops, so I would have been happy to take them. Again this is a personal decision and we all need to trade according to 'our own' personalities.

I didn't take the 1st trade though as I hadn't started trading yet.

The chart is mainly an example of how entries appear amongst momentum bars.

Rob
  • #4,408
  • Jul 23, 2010 6:22am Jul 23, 2010 6:22am
Quoting priceaction
Often I don't enter trades when there is major news due out. In the situations shown on the chart, the risk was small by using tight stops, so I would have been happy to take them. Again this is a personal decision and we all need to trade according to 'our own' personalities.

I didn't take the 1st trade though as I hadn't started trading yet.

The chart is mainly an example of how entries appear amongst momentum bars.

Rob
thank you
  • #4,409
  • Jul 23, 2010 6:23am Jul 23, 2010 6:23am
Hi priceaction,

Can you please advise how big the candle that you consider that candle is momentum ? it is more than 15 pip ?

Thanks,

Quoting priceaction
We've seen tremendous momentum on GBP & Euro pairs this morning due to all that good news out of major economies; Germany and UK.

Using the method Sho teaches, below are three opportunities to have jumped on the EURJPY momentum train, as it slowed down to pick up new passengers. All with just 10-15 pips of risk. A similar picture for other pairs too.

Safer to climb on board when the train slows down, than when it's traveling at 200kph.

Rob
  • #4,410
  • Jul 23, 2010 6:26am Jul 23, 2010 6:26am
Quoting pipfirst
Hi priceaction,

Can you please advise how big the candle that you consider that candle is momentum ? it is more than 15 pip ?

Thanks,
I think Sho is the best person to give you the best answer on that
  • #4,411
  • Jul 23, 2010 6:36am Jul 23, 2010 6:36am
Took this trade based on pin bar. 2:1 risk to reward. Any opinions would be welcome, I'm trying to learn.
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  • #4,412
  • Jul 23, 2010 6:45am Jul 23, 2010 6:45am
Quoting priceaction
We've seen tremendous momentum on GBP & Euro pairs this morning due to all that good news out of major economies; Germany and UK.

Using the method Sho teaches, below are three opportunities to have jumped on the EURJPY momentum train, as it slowed down to pick up new passengers. All with just 10-15 pips of risk. A similar picture for other pairs too.

Safer to climb on board when the train slows down, than when it's traveling at 200kph.

Rob
To take a closer look at the last opportunity that I marked on the original chart.

There are numerous ways to have managed that.

1) Take a quick scalp and come out with anything up to 13 pips between A & B (shown below)
2) As numerous bars had completed with no real action, you could have taken a small win or at worse come out at BE
3) Get stopped out for about a 16 pip loss if you didn't tighten your SL after the trade was initiated.

It's all a matter of trading personality, and it's possible that other traders would see other options too.

It's good to review Sho's 29++ rules here (half way down the post)

Rob
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  • #4,413
  • Jul 23, 2010 6:58am Jul 23, 2010 6:58am
Quoting mdiz2
Took this trade based on pin bar. 2:1 risk to reward. Any opinions would be welcome, I'm trying to learn.
Trade went in profit on first bar so moved stop to BE, stopped out at BE.
  • #4,414
  • Jul 23, 2010 8:55am Jul 23, 2010 8:55am
Anybody short the 2 pairs? Just wondering if the previous bar was a signal bar?
  • #4,415
  • Edited Jul 24, 2010 3:41am Jul 23, 2010 10:18am | Edited Jul 24, 2010 3:41am
Have 2 possible entrys for short on EU/M15, there are 2 IBīs after impulsive move down.
The first i didnīt take because the price was near above a demandzone and a RN.
The second was an entry for me, because the price hase broken the demandzone and the RN, and on the H4 was formed a nice PB.
I think my TP was the demandzone at 1,2750, but the price stumble on Weekly Pivot.

Iīm out for +80 at Weekly Pivot.


Was it only lucky trade or am i on the right way to learn from sho, rob and the hole thread?
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Trade well and many pips to all. Martin
  • #4,416
  • Jul 23, 2010 11:46am Jul 23, 2010 11:46am
See what I missed!! Whole night went out for dinners with colleagues

Trade well all

City
  • #4,417
  • Jul 23, 2010 12:24pm Jul 23, 2010 12:24pm
That's why I like Sho's trading way

4 trades +50 total
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  • #4,418
  • Jul 23, 2010 12:50pm Jul 23, 2010 12:50pm
Quoting trade price
thanks to all of you for your nice words.

yes we will have a nice time.
from next week we will get a new friend.not new he is my old mate.he is a very good guy
he had a tough time recently.
he will join with us soon.
his name is kurt(the Roper)..
Check the 2nd thread 1st few pages, his trades were all amazing. Welcome home Kurt
  • #4,419
  • Jul 23, 2010 1:00pm Jul 23, 2010 1:00pm
Haha, Rob, leave my EJ alone,go back to your GU

I think I should down load paint.net this weekend and learn how to use it. Next week you can see what is "Rob in the city"

Happy weekend all.

City

Quoting priceaction
To take a closer look at the last opportunity that I marked on the original chart.

There are numerous ways to have managed that.

1) Take a quick scalp and come out with anything up to 13 pips between A & B (shown below)
2) As numerous bars had completed with no real action, you could have taken a small win or at worse come out at BE
3) Get stopped out for about a 16 pip loss if you didn't tighten your SL after the trade was initiated.

It's all a matter of trading personality, and it's possible that other traders would see other options too....
  • #4,420
  • Jul 23, 2010 2:54pm Jul 23, 2010 2:54pm
Hello guys, I come from another thread here (EU thread), i was reading ur posts and those are pretty explanatory or self-explanatory ( Trade Price always excellent).

I may suggest MOMENTUM divergence indicator as it is pretty reliable when trading intraday frames. Momentum and On Balance Volume divergences are the strongest of all divergences known. Trade ur setups with momentum and obv divergences and u will have a good cue where the price may be heading.

Cheers!

T
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