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Intraday price action trend trading

  • #5,121
  • Aug 18, 2010 9:02am Aug 18, 2010 9:02am
As I almost read the thread 1 almost again and now trying to start practice on it.
Can someone comments if I spotted the right impulsive/corrective wave for e/u?
Thanks.
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  • #5,122
  • Aug 18, 2010 9:03am Aug 18, 2010 9:03am
Quoting priceaction
Plenty of buying after Bank of England MPC meeting minutes were released.

I'm awaiting price action but the chart below describes one possibility.
The other possibility is UP

Rob
This morning I was looking at a previous supply zone for price action and a potential sell-off (chart on LEFT). However this didn't happen until a supply zone situated at higher prices (chart on RIGHT).

The zone where price REALLY reacted was the most significant and noticeable on the 4hr timeframe. I believe that this is the one that Sho might have had on his chart, as opposed to the one lower down.

We had a pin at 1.5669 (to enter off) in the upper supply zone, just off the trendline.

The unknown is "how far will it fall"?

The major demand zone is a long way down, but there could be lots of action en-route.

Rob
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  • #5,123
  • Aug 18, 2010 9:05am Aug 18, 2010 9:05am
Kurt

Off topic here

Header or healer?..... The Roper
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,124
  • Aug 18, 2010 9:11am Aug 18, 2010 9:11am
Hi 786,

Answered in the chart

Kurt

quote=786 trading;3957327]Hi Kurt,

Can you please explain why you go long on this. I can see that you were with impulsive wave, but what was the price action, to confirm that long.
Is that was the level break (resistance break) which made you to take the shot?
Thanks I am trying to learn this method.[/quote]
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  • #5,125
  • Aug 18, 2010 9:13am Aug 18, 2010 9:13am
Hey Rufus,

Great to see you here. I read about you Tokyo High method in your journal last night. It looks fantastic.

Quoting Rufus
Nice trading Kurt.

Now that I have found where you hang out. I like your style. I will be watching this thread as well. It looks to me like what I will learn here will fit in great with how I trade.

I didn't trade it last nlght I was to tired. But with my ttading style I called it a bounce off Tokyo high. The green box is Tokyo's range.

I am looking forward to what I can learn here.

Rufus
  • #5,126
  • Aug 18, 2010 9:14am Aug 18, 2010 9:14am
#6 Header, I usually hit weekend jackpots and USTRC ropings.

Quoting Rufus
Kurt

Off topic here

Header or healer?..... The Roper
  • #5,127
  • Aug 18, 2010 9:20am Aug 18, 2010 9:20am
Hey 786,

Here is another one in the making. We had a breakout, then a retest and you can see the bars are having a hard time making it back to the old support line. The stop is kind of high in the picture but I usually move it down to around 10pips

Kurt

UPDATE: closed +5 oil news coming in a few
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  • #5,128
  • Aug 18, 2010 9:29am Aug 18, 2010 9:29am
  •  Xpsb
  • | Joined Mar 2010 | Status: That's a Gate ahead not a Wall | 36 Posts
Quoting priceaction
This morning I was looking at a previous supply zone for price action and a potential sell-off (chart on LEFT). However this didn't happen until a supply zone situated at higher prices (chart on RIGHT).

The zone where price REALLY reacted was the most significant and noticeable on the 4hr timeframe. I believe that this is the one that Sho might have had on his chart, as opposed to the one lower down.

We had a pin at 1.5669 (to enter off) in the upper supply zone, just off the trendline.

The unknown is "how far will it fall"?

The major...
Sho also mentioned using divergence to give an additional clue for entering a CT trade. Unfortunately I missed it boooo.
Attached Image (click to enlarge)
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  • #5,129
  • Aug 18, 2010 9:30am Aug 18, 2010 9:30am
Quoting TheRoper
Hey 786,

Here is another one in the making. We had a breakout, then a retest and you can see the bars are having a hard time making it back to the old support line. The stop is kind of high in the picture but I usually move it down to around 10pips

Kurt

UPDATE: closed +5 oil news coming in a few
Thanks.. that is easy to understand but the above one is not still clear to me. But I will think and read more on that to understand. Thanks again.
  • #5,130
  • Aug 18, 2010 9:34am Aug 18, 2010 9:34am
I have few questions from main thread.
I read the thread one and get more and more confidence. I will read it again it had lot of things to learn.
I am lucky I got this and also a lit. bit bad luck that I found late.
If you are watching I can post few basic question about some posts in thread one.
  • #5,131
  • Aug 18, 2010 9:36am Aug 18, 2010 9:36am
sorry for the delay but my PS2 is running as slow as Eric when he is scalping
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Stop killing our Oceans, Stop using single use plastics.
  • #5,132
  • Aug 18, 2010 9:41am Aug 18, 2010 9:41am
Quoting jakdan
sorry for the delay but my PS2 is running as slow as Eric when he is scalping
Attachment
I'm using iphone now...............
  • #5,133
  • Aug 18, 2010 9:44am Aug 18, 2010 9:44am
Quoting Buildcity
I'm using iphone now...............
thats my next purchase when i learn how to thieve
cheers ant,

(no more pictures till i get one, my computer must have been made in china)
Stop killing our Oceans, Stop using single use plastics.
  • #5,134
  • Aug 18, 2010 9:49am Aug 18, 2010 9:49am
Quoting jakdan
sorry for the delay but my PS2 is running as slow as Eric when he is scalping
Attachment
back in round 2. 55850
Stop killing our Oceans, Stop using single use plastics.
  • #5,135
  • Edited 11:18am Aug 18, 2010 9:52am | Edited 11:18am
Quoting jakdan
back in round 2. 55850
Hehe, caught 2 shorts from r/n down, total +21p, have a nice ride

http://www.forexfactory.com/showpost...&postcount=731
  • #5,136
  • Aug 18, 2010 9:56am Aug 18, 2010 9:56am
Quoting Buildcity
Hehe, caught 2 shorts from r/n down, total +21p, have a nice ride
cheers Eric took 22, out now, bit nervous of late not taking pips when i should have, i thought it was the PS 2 but its ME
Stop killing our Oceans, Stop using single use plastics.
  • #5,137
  • Aug 18, 2010 9:59am Aug 18, 2010 9:59am
EJ sitting nice and tight
Stop killing our Oceans, Stop using single use plastics.
  • #5,138
  • Aug 18, 2010 10:10am Aug 18, 2010 10:10am
explanation in picture
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  • #5,139
  • Aug 18, 2010 10:14am Aug 18, 2010 10:14am
Quoting xeqter
explanation in picture

thanks for that X that was also my second entry and exit almost exact,
cheers ant
Stop killing our Oceans, Stop using single use plastics.
  • #5,140
  • Aug 18, 2010 10:21am Aug 18, 2010 10:21am
Quoting jakdan
thanks for that X that was also my second entry and exit almost exact,
cheers ant
cheers mate!

i'm currently trying to improve my entry on this setup.. at the moment i am using a 2 pip buffer.. it can keep you out of some fakeouts but on the other hand you miss same valuable pips...playing the insidebars with a break is the right way imho but should we use an additional buffer? would be interesting to hear some opinions on that from you guys!
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