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Intraday price action trend trading

  • #4,481
  • Jul 27, 2010 6:16am Jul 27, 2010 6:16am
Quoting TheRoper
Short EA
Edit: Out +20
i donnot know why you trade a short？？？isnot the trend is up？？
  • #4,482
  • Jul 27, 2010 6:17am Jul 27, 2010 6:17am
Hi Rob and Kurt,

How many pairs under your monitoring in real time? Trying few days to observe GJ together with EJ & GU did mix me up. So may be I should switch off the extra but focus on my lovely EJ & GU, hehe.

See you guys then.
Happying trading to all
City
  • #4,483
  • Jul 27, 2010 6:17am Jul 27, 2010 6:17am
Quoting arjuncora
Oh okay Rob! Scalping is still growing on me

Btw, how do you determine which of ur trades are 1:1 Risk : Reward or higher?
Today is so volatile that I'm happy to take 15 - 25 pips here and there so my R:R is approx between 1:1 or 2:1.

When we have better trending markets, I look for higher R:R and trail the 15 min bars.

Rob
  • #4,484
  • Jul 27, 2010 6:20am Jul 27, 2010 6:20am
Quoting Buildcity
Hi Rob and Kurt,

How many pairs under your monitoring in real time? Trying few days to observe GJ together with EJ & GU did mix me up. So may be I should switch off the extra but focus on my lovely EJ & GU, hehe.

See you guys then.
Happying trading to all
City
Hi Mate,
I'm looking at GU, EU, EJ.
Sometimes I look at more but it gets a bit much. This is plenty to make money.

Do you know Jacko? - he only trades EU. I'm sure there are many other examples too.

Rob
  • #4,485
  • Jul 27, 2010 6:27am Jul 27, 2010 6:27am
Quoting priceaction
Today is so volatile that I'm happy to take 15 - 25 pips here and there so my R:R is approx between 1:1 or 2:1.

When we have better trending markets, I look for higher R:R and trail the 15 min bars.

Rob
Oh okay. thanks Rob! Classic entry on the EU congrats!
  • #4,486
  • Jul 27, 2010 6:45am Jul 27, 2010 6:45am
Hey City,

I have 12 pairs (EJ,UCHF,EU,GU,EG,AU,UJ,UCAD,AJ,EA,CHFJ,ECHF) up that I scroll through. Since I don't have a lot of time to trade during the Euro session I do a quick scan to look for obvious Sho setups and take the few that jump out at me. I am in the New York Time Zone which is not optimal. I do like the Yen pairs lately.

Kurt



Quoting Buildcity
Hi Rob and Kurt,

How many pairs under your monitoring in real time? Trying few days to observe GJ together with EJ & GU did mix me up. So may be I should switch off the extra but focus on my lovely EJ & GU, hehe.

See you guys then.
Happying trading to all
City
  • #4,487
  • Jul 27, 2010 7:05am Jul 27, 2010 7:05am
HI Lucas,

This was an advanced counter trend play. You are correct the short term trend was up, Keltner was up. I saw price being rejected at the big round number following an inside bar and took a short ride down below the middle keltner line.

If you are new to the method stick with the trend plays where kelter is pointing in the direction of your trade and you will do fine.

Kurt

Quoting lucas101
i donnot know why you trade a short？？？isnot the trend is up？？
  • #4,488
  • Jul 27, 2010 8:22am Jul 27, 2010 8:22am
Whole night no play. Take the chance of Euro closing and the EJ retouch the daily top (Double Top too), go for counter trend trades. 3 shorts on this one after one, as pretty smooth down move, took profit right above the next s/r. All done.
Attached Image
  • #4,489
  • Jul 27, 2010 9:02am Jul 27, 2010 9:02am
Way to bag the pips City!

Quoting Buildcity
Whole night no play. Take the chance of Euro closing and the EJ retouch the daily top (Double Top too), go for counter trend trades. 3 shorts on this one after one, as pretty smooth down move, took profit right above the next s/r. All done.
  • #4,490
  • Jul 27, 2010 9:03am Jul 27, 2010 9:03am
Quoting Buildcity
Whole night no play. Take the chance of Euro closing and the EJ retouch the daily top (Double Top too), go for counter trend trades. 3 shorts on this one after one, as pretty smooth down move, took profit right above the next s/r. All done.
Hey City,

How many hours a day do you scalp? Very impressive for someone who scalps part time I must say.. What time zone do you setup ur trades?

Cheers

A
  • #4,491
  • Jul 27, 2010 9:12am Jul 27, 2010 9:12am
Quoting arjuncora
Hey City,

How many hours a day do you scalp? Very impressive for someone who scalps part time I must say.. What time zone do you setup ur trades?

Cheers

A
Hi Arj,

GMT +8, I usually took the trading in 3 sections. 1st starting with 1 or 2 trades before my real work (Asia session). My lunch break will do another fews if nice setup is spotted (before London opening), real trading on second half of Euro / London till now. Then times to sleep. So usually you find my trades will not be long as I have to do it quick

Cheers
City
  • #4,492
  • Jul 27, 2010 9:15am Jul 27, 2010 9:15am
Quoting Buildcity
Hi Arj,

GMT +8, I usually took the trading in 3 sections. 1st starting with 1 or 2 trades before my real work (Asia session). My lunch break will do another fews if nice setup is spotted (before London opening), real trading on second half of Euro / London till now. Then times to sleep. So usually you find my trades will not be long as I have to do it quick

Cheers
City
Cool City! Congrats on all the sweet trading. So i'm guess 1:1 Risk rewards?
  • #4,493
  • Jul 27, 2010 9:24am Jul 27, 2010 9:24am
Quoting arjuncora
Cool City! Congrats on all the sweet trading. So i'm guess 1:1 Risk rewards?
Haha, I still have no patience enough to play some long trades, so even I set my hard RR at 1:2, it would not be happen all the times, if I spot anything wrong after an open trade, I will cut it no matter positive or negative. Cant help, I still weak on the exit.
  • #4,494
  • Jul 27, 2010 9:31am Jul 27, 2010 9:31am
Quoting Buildcity
Haha, I still have no patience enough to play some long trades, so even I set my hard RR at 1:2, it would not be happen all the times, if I spot anything wrong after an open trade, I will cut it no matter positive or negative. Cant help, I still weak on the exit.
Hi Eric,

I don't see that as weak on exit.
If you are weak in exit, you will be like me. Haahaa.... can't trigger the exit even I knew something is not right. I should learn from you to deal with my exit. To me, you are not weak in exit. Infact, you are GOOD!
  • #4,495
  • Edited 9:52am Jul 27, 2010 9:38am | Edited 9:52am
Low risk lunch time trade for me.

Pull back to lower Keltner with pin bar off 600, 50% fib retrace, demand zone

UPDATE Out +9 (looking too weak)
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  • #4,496
  • Jul 27, 2010 9:41am Jul 27, 2010 9:41am
Quoting TheRoper
Low risk lunch time trade for me.

Pull back to lower Keltner with pin bar off 600, 50% fib retrace, demand zone
Hey Roper,

But isnt that close to a long term supply zone ?
  • #4,497
  • Jul 27, 2010 9:54am Jul 27, 2010 9:54am
Explains why it is looking so weak, closed for +9

Quoting arjuncora
Hey Roper,

But isnt that close to a long term supply zone ?
  • #4,498
  • Jul 27, 2010 9:58am Jul 27, 2010 9:58am
Quoting TheRoper
Explains why it is looking so weak, closed for +9
Oh okay!
  • #4,499
  • Jul 27, 2010 11:48am Jul 27, 2010 11:48am
Hi Rob,
First I want to thank you for all your effort. We are learning a lot from you guys. It is a daily EJ chart, Did I spot the demand/supply level correctly?
As price is rejecting on that now so should we consider it as supply level now? Please explain it if I am wrong. I am trying to understand demand/supply level.
Thanks.
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  • #4,500
  • Jul 27, 2010 11:56am Jul 27, 2010 11:56am
Quoting 786 trading
Hi Rob,
First I want to thank you for all your effort. We are learning a lot from you guys. It is a daily EJ chart, Did I spot the demand/supply level correctly?
As price is rejecting on that now so should we consider it as supply level now? Please explain it if I am wrong. I am trying to understand demand/supply level.
Thanks.

Hey 786,

Here are my 2 cents based on Sam seiden's Supply demand

Notice the red circle I've drawn. Note the following :

1. Strong drop from level.
2. Larger time frame short.
3. Time spent at level is very short

These make it a swing trade / long term day trade opportunity supply level.

Sam says, dont cut through candles.

Then again, its my 2 cents. Hope this helps.
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