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Intraday price action trend trading

  • #5,081
  • Aug 17, 2010 1:44am Aug 17, 2010 1:44am
It can be tricky getting demand & supply (D&S) zones right. I use Bollinger Bands (as taught by Sam Seiden and others) to filter potential failed D&S zones along with good old price action. Price remains within BBs around 95% of the time. So if we identify the 5% when it's not within the BBs, we are 'possibly' identifiying an extreme (or an over/undersold condition) which could be a turning point.

Together with price action, as shown below, we can get a higher probability (never guaranteed) idea of where price might go.

By the time I've created the chart below, written this and sent the family off for the day, GU has given us even more confirmation by breaking the trend line.

Let's see 'how well' this goes.

I Twittered this potential set up as the 2nd 15 min pin completed. It's a very quick & convenient way of sharing views!

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 15 min - 17 August 2010.jpg Size: 214 KB
  • #5,082
  • Aug 17, 2010 1:56am Aug 17, 2010 1:56am
Rob

By following Rob's analysis, herewith the updated M15 chart for sharing, so far a 30+ down move is ran, but beware the recent D&S zone around 1.5640

Eric



Quoting priceaction
It can be tricky getting demand & supply (D&S) zones right. I use Bollinger Bands (as taught by Sam Seiden and others) to filter potential failed D&S zones along with good old price action. Price remains within BBs around 95% of the time. So if we identify the 5% when it's not within the BBs, we are 'possibly' identifiying an extreme (or an over/undersold condition) which could be a turning point.

Together with price action, as shown below, we can get a higher probability (never guaranteed) idea of where price might go.

By the time I've created...
Attached Image (click to enlarge)
Click to Enlarge Name: 20100817-1453.jpg Size: 46 KB
  • #5,083
  • Aug 17, 2010 2:00am Aug 17, 2010 2:00am
Quoting priceaction
It can be tricky getting demand & supply (D&S) zones right. I use Bollinger Bands (as taught by Sam Seiden and others) to filter potential failed D&S zones along with good old price action. Price remains within BBs around 95% of the time. So if we identify the 5% when it's not within the BBs, we are 'possibly' identifiying an extreme (or an over/undersold condition) which could be a turning point.

Together with price action, as shown below, we can get a higher probability (never guaranteed) idea of where price might go.

By the time I've created...
good points rob,
dont know if you do indices? but there is a very tight build up on the DOW, its into its 4th day now, and stops can be pretty tight, hope to catch a few, as been quite unlucky for a couple of weeks,
twitter working well?
cheers ant,
Stop killing our Oceans, Stop using single use plastics.
  • #5,084
  • Aug 17, 2010 2:14am Aug 17, 2010 2:14am
Quoting jakdan
good points rob,
dont know if you do indices? but there is a very tight build up on the DOW, its into its 4th day now, and stops can be pretty tight, hope to catch a few, as been quite unlucky for a couple of weeks,
twitter working well?
cheers ant,
Hi Ant,

I know nothing about indices.
I'll put it on my 'to learn list' :-)

I like Twitter as it lets me share my thoughts easily. I don't always have time to draw charts and write forum posts. I've used it for a long time for other reasons but this is the first time I'm using it with trading.

Rob
  • #5,085
  • Aug 17, 2010 2:54am Aug 17, 2010 2:54am
sell GU 56574, sorry no chart but good set up??
Stop killing our Oceans, Stop using single use plastics.
  • #5,086
  • Aug 17, 2010 3:03am Aug 17, 2010 3:03am
Quoting jakdan
sell GU 56574, sorry no chart but good set up??
stalling at support again, going to move SL to BE, fancy it to break down though
Stop killing our Oceans, Stop using single use plastics.
  • #5,087
  • Aug 17, 2010 3:21am Aug 17, 2010 3:21am
Quoting jakdan
stalling at support again, going to move SL to BE, fancy it to break down though
stopped out again, aaaaaagggghhhhhhhhhh,
i need some divine intervention, having a bloody nightmare at the minute, account is dwindling,
am i getting greedy?
stupid?
who did i upset?
Stop killing our Oceans, Stop using single use plastics.
  • #5,088
  • Aug 17, 2010 3:53am Aug 17, 2010 3:53am
EU is now at a previous (and prominent) supply zone.

The 15 min Bollinger Band is pierced and so is the 1 hr, suggesting the pair is overbought and at an extreme and rare 5% level which coincides with a previous supply zone.

Now I want price action to confirm; because we still don't know whether this previous level of supply will act as supply again - YET.

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 15 Min 17 August 2010.jpg Size: 245 KB
  • #5,089
  • Aug 17, 2010 4:14am Aug 17, 2010 4:14am
Quoting priceaction
EU is now at a previous (and prominent) supply zone.

The 15 min Bollinger Band is pierced and so is the 1 hr, suggesting the pair is overbought and at an extreme and rare 5% level which coincides with a previous supply zone.

Now I want price action to confirm; because we still don't know whether this previous level of supply will act as supply again - YET.

Rob
A sell stop bellow the range of 15 min bars took me into a trade at 1.2883.
Very nasty price action afterwards though.
I came out with 3 pips profit.

I hadn't realised that there was news out at 11am.
Tut tut tut.

Let's still watch the level.

Rob
  • #5,090
  • Aug 17, 2010 6:08am Aug 17, 2010 6:08am
short GU 56343 on break of support?
not sho,s methood but you can watch and enter on the retrace?
heres hoping
cheers ant
Stop killing our Oceans, Stop using single use plastics.
  • #5,091
  • Aug 17, 2010 6:21am Aug 17, 2010 6:21am
Quoting jakdan
short GU 56343 on break of support?
not sho,s methood but you can watch and enter on the retrace?
heres hoping
cheers ant
just closed +20 yes 20, first good trade in a week
Stop killing our Oceans, Stop using single use plastics.
  • #5,092
  • Aug 17, 2010 6:24am Aug 17, 2010 6:24am
Quoting jakdan
just closed +20 yes 20, first good trade in a week
No worry, there are lots of coming....

Just trade safe
  • #5,093
  • Aug 17, 2010 6:58am Aug 17, 2010 6:58am
re entry (sho's methood) 1.5619??
EDIT, not shows methood, its me chasing market (muppet) still in however with a 20 pip SL, hoping for a rebound of prior support??
DONT TRY THIS AT HOME
Stop killing our Oceans, Stop using single use plastics.
  • #5,094
  • Aug 17, 2010 7:03am Aug 17, 2010 7:03am
Quoting jakdan
re entry (sho's methood) 1.5619??
For me seems no good, quite a good support level around 1.561 / 62, and the market is slow down at 1300 London, my view

PS - US news is coming within 30 mins
  • #5,095
  • Aug 17, 2010 7:05am Aug 17, 2010 7:05am
Quoting Buildcity
For me seems no good, quite a good support level around 1.561 / 62, and the market is slow down at 1300 London, my view
you read my mind eric, i am chasing,
thanks ant
Stop killing our Oceans, Stop using single use plastics.
  • #5,096
  • Aug 17, 2010 7:06am Aug 17, 2010 7:06am
Hi guys,

Closed the trade manually because it started to struggle.

roughly RR 2:1

Also nice pb on 30 m chart.

pip
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy15m.png Size: 52 KB
  • #5,097
  • Aug 17, 2010 9:29am Aug 17, 2010 9:29am
Quoting Buildcity
For me seems no good, quite a good support level around 1.561 / 62, and the market is slow down at 1300 London, my view

PS - US news is coming within 30 mins
2 hours to early ah well
Stop killing our Oceans, Stop using single use plastics.
  • #5,098
  • Aug 17, 2010 10:32am Aug 17, 2010 10:32am
Quoting priceaction
EU is now at a previous (and prominent) supply zone.

The 15 min Bollinger Band is pierced and so is the 1 hr, suggesting the pair is overbought and at an extreme and rare 5% level which coincides with a previous supply zone.

Now I want price action to confirm; because we still don't know whether this previous level of supply will act as supply again - YET.

Rob
Lots of news today but the area shown in the chart I posted 6 hrs ago (below) showed a Supply zone that gave us shorting opportunities on several occasions today when price returned to it time after time.

It's just been back there again.

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 15 Min 17 August 2010.jpg Size: 245 KB
  • #5,099
  • Aug 17, 2010 8:14pm Aug 17, 2010 8:14pm
In trade 1 hour . so exited +5 pip during slow session
Attached Image (click to enlarge)
Click to Enlarge Name: another trade 10.gif Size: 22 KB
  • #5,100
  • Aug 17, 2010 8:17pm Aug 17, 2010 8:17pm
I have to trade now really early from 6-7:30 U.S central time because I am no longer on my vacation.
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