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Intraday price action trend trading

  • #5,181
  • Aug 19, 2010 11:36pm Aug 19, 2010 11:36pm
Quoting TheRoper
Hey 786,

Tell me what you see in this chart
I'd call it a tweezer formation..in this case barish
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,182
  • Aug 19, 2010 11:42pm Aug 19, 2010 11:42pm
I am with you, lets help the new guys.

Sho must be having a great time.

Quoting Buildcity
Glad you are back, Kurt

Lets work together till our master finished his looooooooooooooooooooong vacation.

Cheers
Eric
  • #5,183
  • Aug 19, 2010 11:47pm Aug 19, 2010 11:47pm
Yes tweezer top, Pin Bar, divergence on the Sto (however sho teaches us to use divergence for exit only).

This being a counter trend trade, I hope I can find a clasic sho method chart to post a little later.

Quoting Rufus
I'd call it a tweezer formation..in this case barish
  • #5,184
  • Aug 19, 2010 11:53pm Aug 19, 2010 11:53pm
Quoting TheRoper
Yes tweezer top, Pin Bar, divergence on the Sto (however sho teaches us to use divergence for exit only).

This being a counter trend trade, I hope I can find a clasic sho method chart to post a little later.

I am really looking forward to what I will learn from you all. It will be great information to add to my repertoire.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,185
  • Aug 19, 2010 11:58pm Aug 19, 2010 11:58pm
With your method of trading you will fit right in here with us.

We learned from Sho, check out the first few pages here.

http://www.forexfactory.com/showthread.php?t=217281

Going to catch a little sleep it is 1am my time. See you guys a little later

Kurt


Quoting Rufus
I am really looking forward to what I will learn from you all. It will be great information to add to my repertoire.
  • #5,186
  • Aug 20, 2010 12:48am Aug 20, 2010 12:48am
Quoting TheRoper
Hey 786,

Tell me what you see in this chart

UPDATE: closed, price stalling +26
I want to learn and many many thanks all of you for helping me. I see two reason to sell this point:
1) There was supply zone and market rejected from there
2) Momentum nice bearish bar is telling momentum is with you.

but I would hesitating to take short here because I am not sure at this point the currently forming impulsive move can become corrective wave... is it correct?
I am sure I would learn many things from your reply and guidance. Thanks again boss.
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  • #5,187
  • Aug 20, 2010 12:56am Aug 20, 2010 12:56am
Quoting Buildcity
Hi 786,

May be a little help.

1. Per other players said here, identify the major D&S zones from higher TF 1st, then concentrate on M15;

2. Only trade with trend according to the Keltner Channel (i.e. dont go for counter trend trade);

3. Do some little draws on the impulsive / corrective waves, dont think it is silly but just train up yourself to trade with the impulsive move only;

4. Read every single bar / candle formation and compare it to several bars previously, it will tell you something, sort of whether the bar is momentum bar, a pin...
Thanks Eric, This is great learning... and I would practice and try to read in this way now.



Quoting TheRoper
I am with you, lets help the new guys.

Sho must be having a great time.
Thanks all of you. I am your first student...thinks sit in my head slowly but I had decided never to quit.
  • #5,188
  • Aug 20, 2010 1:04am Aug 20, 2010 1:04am
Quoting 786 trading
Thanks Eric, This is great learning... and I would practice and try to read in this way now.
Dont say that, I am learning from here too, and I just shared what I did when I have the bad times.

Keep it up mate
Eric
  • #5,189
  • Aug 20, 2010 1:12am Aug 20, 2010 1:12am
I am seeing GU chart like this. Please correct me .. I know I am missing many things and long way to go...but I am lucky I found friends, you guys...
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  • #5,190
  • Aug 20, 2010 1:23am Aug 20, 2010 1:23am
It was an interesting part to read about some hidden forces that drive the market. Here is the quote directly from the author of 'The Wave of Nature Theory'!

Quote
We often fail to appreciate the simple fact that all living things, including the financial markets, vibrate in cycles determined by wave of nature. Going against the “tides” often proves to be disastrous. Again, I am not referring to technical analysis that tracks and analyses historical performances (another effect), but rather the underlying forces (the cause) that influence each and every event on Earth. That is why I call this study and theory the “Wave of Nature”, which is the foundation of my financial predictions.

The above quote is from Mahendra Sharma, Financial Astrologer!
  • #5,191
  • Aug 20, 2010 1:24am Aug 20, 2010 1:24am
My another view of EJ current chart. Please correct me.
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  • #5,192
  • Aug 20, 2010 1:36am Aug 20, 2010 1:36am
I am short here. I should wait for retrace to minimize the risk. My stoploss is 16 pips.. .too big.. I should wait 50% retracement.. but other than is it right entry.. ???

Edit: While I was posting.. my SL hit ... was it a wrong play?
Was I not with impulsive move
Was I not with momentum..
Price rejected from KC line...

The above points made me to take short... Please correct me. Thanks
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  • #5,193
  • Aug 20, 2010 1:40am Aug 20, 2010 1:40am
I'd like to share four and a half minutes of feel-good factor with you good people here this Friday.

Enjoy

Rob

Inserted Video
  • #5,194
  • Aug 20, 2010 1:58am Aug 20, 2010 1:58am
Quoting 786 trading
I am short here. I should wait for retrace to minimize the risk. My stoploss is 16 pips.. .too big.. I should wait 50% retracement.. but other than is it right entry.. ???

Edit: While I was posting.. my SL hit ... was it a wrong play?
Was I not with impulsive move
Was I not with momentum..
Price rejected from KC line...

The above points made me to take short... Please correct me. Thanks

786

I am new to the thread and untill the others get back this is what I see.

There is a big Demand zone at the lower blue line. A short here would not give you much room till you hit it. I am waiting for a move closer to that demand area then go long with some sort of confirmation.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,195
  • Aug 20, 2010 2:11am Aug 20, 2010 2:11am
Quoting Rufus
786

I am new to the thread and untill the others get back this is what I see.

There is a big Demand zone at the lower blue line. A short here would not give you much room till you hit it. I am waiting for a move closer to that demand area then go long with some sort of confirmation.

Rufus
Rufus,

Be very careful - consider price action on the daily & weekly charts (because we are at a critical area)
And remember that market makers will try to fool us.

Rob
  • #5,196
  • Aug 20, 2010 2:25am Aug 20, 2010 2:25am
Quoting priceaction
I'd like to share four and a half minutes of feel-good factor with you good people here this Friday.

Enjoy

Rob

http://www.youtube.com/watch?v=zlfKdbWwruY
CHEERS ROB, I NEDED SOMETHING LIKE THAT
Stop killing our Oceans, Stop using single use plastics.
  • #5,197
  • Aug 20, 2010 2:27am Aug 20, 2010 2:27am
Quoting priceaction
Rufus,

Be very careful - consider price action on the daily & weekly charts (because we are at a critical area)
And remember that market makers will try to fool us.

Rob
I agree....Seems like every chart I look at is at a critical area.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,198
  • Aug 20, 2010 3:06am Aug 20, 2010 3:06am
So this is what we've seen with GBPUSD just about all week. It's been trading in a range, bouncing up and down between those major supply & demand zones.

But this won't go on forever and it's important that we consider the daily and weekly charts which I've posted a few times this week.

Based on price action on those higher TF charts, I'm of a bearish sentiment, and my short at 1.56485 is sailing along in safe water now. But reality won't become clear to any of us until price does its business. And as we know, price doesn't care about anyone. Thinking about it, as FX traders we probably have the most aggressive, ignorant, uncaring, unsympathetic customer in the world. But he pays well when we listen to him

Good luck today guys and be safe.

Rob
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  • #5,199
  • Edited 6:19am Aug 20, 2010 4:35am | Edited 6:19am
All, the GU is, again, rejected from the demand zone, still range play, hehe

Edit, wooooooooooo, horrible, after stalling then straight down

Quoting priceaction
So this is what we've seen with GBPUSD just about all week. It's been trading in a range, bouncing up and down between those major supply & demand zones.

But this won't go on forever and it's important that we consider the daily and weekly charts which I've posted a few times this week.

Based on price action on those higher TF charts, I'm of a bearish sentiment, and my short at 1.56485 is sailing along in safe water now. But reality won't become clear to any of us until price does its business. And as we know, price doesn't care about anyone....
  • #5,200
  • Aug 20, 2010 6:03am Aug 20, 2010 6:03am
BE out with +6 only.

1st momentum big red drive the price break through the demand zone, then 50% retrace, entry at last red, but move the BE too closed after +10 in profit.
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