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Intraday price action trend trading

  • #4,421
  • Jul 23, 2010 5:50pm Jul 23, 2010 5:50pm
Quoting pipmax
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 IB.
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?
you did very well my man.!!



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,
it is very easy.it does not depend on pips.
i will explain with the charts.
  • #4,422
  • Jul 23, 2010 5:56pm Jul 23, 2010 5:56pm
Quoting mdiz2
Took this trade based on pin bar. 2:1 risk to reward. Any opinions would be welcome, I'm trying to learn.
try to go for the majors.
specially when you day trade,we need solid pairs.
like -EJ,UC,EU,GB,GJ,AU,
YOU WILL GET BETTER HIT RATE.
  • #4,423
  • Edited Jul 24, 2010 3:15am Jul 23, 2010 7:12pm | Edited Jul 24, 2010 3:15am

Brett N. Steenbarger, Ph.D.


Suppose you see the S&P 500 Index (ES) futures rise a full point in a short period of time on solid volume. Seeing the market rally, you jump aboard, only to have the entire move retrace.
What happened?
In a nutshell, that move you saw on the screen wasn't real.
Yes, the index rose on buying, but what you didn't see on the screen was that the very same buyers of the index were selling the S&P 500 Index ETF (SPY). Once the futures moved a full point higher, exceeding fair value, they then sold the futures against a basket of stocks in the index to bring the futures and cash back into line. The moves were real, in the sense that they genuinely cost traders money. They're not real, in the sense that buying or selling did not reveal bullish or bearish tendencies on the parts of large market participants.
According to H. L. Camp, about 45% of all NYSE volume is now attributable to program trading. What that means is that the buying or selling you see on the screen may or may not reflect genuine demand or supply in the marketplace.
Forex too have a futures exchange and spot market.

This must be happening in forex too, How would that happen if I can get some knowledge on this, please sho?
  • #4,424
  • Jul 23, 2010 8:12pm Jul 23, 2010 8:12pm
Hi Sho,

ok, waiting for your charts.

Thanks a lot ...



Quoting trade price
you did very well my man.!!




it is very easy.it does not depend on pips.
i will explain with the charts.
  • #4,425
  • Jul 24, 2010 4:43am Jul 24, 2010 4:43am
Quoting T@rantula
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
Hi T

Can you please attach the indicators and explain how to use them

Kind regards

  • #4,426
  • Jul 25, 2010 4:07am Jul 25, 2010 4:07am
Quoting newbie_fx

Brett N. Steenbarger, Ph.D.


Suppose you see the S&P 500 Index (ES) futures rise a full point in a short period of time on solid volume....
I think you're over complicating it - who says what is 'fair value?'.....
the only answer to that question is The Majority (of money).

If The Majority agree, the price will go somewhere, forming a trend.

If opinions are opposed and therefore no clear majority exists, a price move will not be sustained - in the short term this can be seen as a spike, in the longer term it will form consolidation.

I don't think it matters whether moves are attributed to program trading or not - the trade parameters will have been set based upon the opinions of those making the decision as to what they consider 'fair value'.

The market is now completely different to that we knew pre Autumn 2007 - opinions are not as firm or as clear, and change an awful lot quicker.

The bottom line is that your stop loss will tell you if the move is 'real' or not - to know beforehand is regarded as the holy grail. If you're not happy with this simple, logical answer - head over to the holy grail hunter threads - you can start with a search for VSA.
I've got my pips - go get yours!
  • #4,427
  • Jul 26, 2010 4:15am Jul 26, 2010 4:15am
Guys, most likely a Double top with lower low is forming!! (M15)
  • #4,428
  • Jul 26, 2010 4:40am Jul 26, 2010 4:40am
Haha, didnt work this time. Sorry

Quoting Buildcity
Guys, most likely a Double top with lower low is forming!! (M15)
  • #4,429
  • Jul 26, 2010 4:52am Jul 26, 2010 4:52am
GBPUSD is at a significant previous area where supply exceeded demand. We might just see the market having some fun and games with everyone before heading off in the direction of its choice.

The pair is very over-bought on the daily and at a previous supply level. I'm anticipating a sell-off, but we won't know for sure until the market decides what to do.

Rob
  • #4,430
  • Jul 26, 2010 4:59am Jul 26, 2010 4:59am
Quoting priceaction
GBPUSD is at a significant previous area where supply exceeded demand. We might just see the market having some fun and games with everyone before heading off in the direction of its choice.

The pair is very over-bought on the daily and at a previous supply level. I'm anticipating a sell-off, but we won't know for sure until the market decides what to do.

Rob
Same thought, awaiting to PA confirmation
  • #4,431
  • Jul 26, 2010 5:19am Jul 26, 2010 5:19am
Quoting priceaction
GBPUSD is at a significant previous area where supply exceeded demand. We might just see the market having some fun and games with everyone before heading off in the direction of its choice.

The pair is very over-bought on the daily and at a previous supply level. I'm anticipating a sell-off, but we won't know for sure until the market decides what to do.

Rob
I think the same, but when i look at the Weekly Chart see an Inside PB last Week it could also brake through 1.55 and fly like a rocket.
Wait for PA,the market will tell us.
Trade well and many pips to all. Martin
  • #4,432
  • Jul 26, 2010 5:34am Jul 26, 2010 5:34am
Quoting priceaction
GBPUSD is at a significant previous area where supply exceeded demand. We might just see the market having some fun and games with everyone before heading off in the direction of its choice.

The pair is very over-bought on the daily and at a previous supply level. I'm anticipating a sell-off, but we won't know for sure until the market decides what to do.

Rob
Hi Rob,
Could you decribe over-bought on daily please?.I can not check chart right now as I am @ work,I just gues is some bearish pattern.
Thanks in advance Sir.
  • #4,433
  • Jul 26, 2010 5:38am Jul 26, 2010 5:38am
Quoting Fxfighter
Hi Rob,
Could you decribe over-bought on daily please?.I can not check chart right now as I am @ work,I just gues is some bearish pattern.
Thanks in advance Sir.
Hi FX,

Daily chart right now for you

PS- I'm trapped right now too, few negative now, see whether the r/n can save me
Attached Image
  • #4,434
  • Jul 26, 2010 5:47am Jul 26, 2010 5:47am
Quoting Buildcity
Hi FX,

Daily chart right now for you

PS- I'm trapped right now too, few negative now, see whether the r/n can save me
Thank You Eric,
I hope you'll get out from that trade with some pips,you always can to stell some.

FX
  • #4,435
  • Jul 26, 2010 6:27am Jul 26, 2010 6:27am
Quoting Fxfighter
Thank You Eric,
I hope you'll get out from that trade with some pips,you always can to stell some.

FX
Tks mate,

Wait too long on this, so cut with +5 only
  • #4,436
  • Jul 26, 2010 6:46am Jul 26, 2010 6:46am
Giving EU a try long.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-26_0743_EU.png Size: 48 KB
  • #4,437
  • Jul 26, 2010 6:48am Jul 26, 2010 6:48am
Quoting TheRoper
Giving EU a try long.
Bailed at +20
  • #4,438
  • Jul 26, 2010 6:58am Jul 26, 2010 6:58am
2 short trades
Attached Image
  • #4,439
  • Jul 26, 2010 7:01am Jul 26, 2010 7:01am
Quoting Buildcity
2 short trades
Nice one City!
  • #4,440
  • Jul 26, 2010 7:02am Jul 26, 2010 7:02am
Quoting TheRoper
Bailed at +20
Well come home Kurt, and nice exit
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