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Intraday price action trend trading

  • #5,201
  • Edited 6:14am Aug 20, 2010 6:11am | Edited 6:14am
Quoting Buildcity
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.

Hi City , took the same trade but only +3 pip . I saw a pin opposite direction of trade on 5m so I got out. If I didn't exit i would be down -12 pips . It would have been -15 pip loss so I am happy I got out.
  • #5,202
  • Aug 20, 2010 6:13am Aug 20, 2010 6:13am
Not a solid demand level, but worth to keep an eye on this formation
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  • #5,203
  • Aug 20, 2010 6:14am Aug 20, 2010 6:14am
Quoting jj7000
Hi City , took the same trade but only +3 pip . I saw a pin opposite direction of trade on 5m so I got out. If I didn't exit i would be down -12 pips
JJ, good escape, see whats happening now.
  • #5,204
  • Aug 20, 2010 7:24am Aug 20, 2010 7:24am
Quoting Buildcity
Not a solid demand level, but worth to keep an eye on this formation
Caught a bit from this, remember:
momentum exceed everything, SHO's golden rule
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  • #5,205
  • Aug 20, 2010 7:35am Aug 20, 2010 7:35am
Quoting Buildcity
Caught a bit from this, remember:
momentum exceed everything, SHO's golden rule

Very nice trade City
  • #5,206
  • Aug 20, 2010 7:40am Aug 20, 2010 7:40am
Hi guys!

Hope all well in thy battle field

Wondering if any of you have noticed any differences trading this method through the summer time as opposed to before?

I see setups everyday but i dont seem to see them develop as good...¿?

Maybe its just me and my lack of experience... :/

Just a quick thought i had.

Cheers
  • #5,207
  • Edited 8:58am Aug 20, 2010 8:17am | Edited 8:58am
Hey pip, here is one starting now

UPDATE: Stopped out -10

Quoting Pipalicious
Hi guys!

Hope all well in thy battle field

Wondering if any of you have noticed any differences trading this method through the summer time as opposed to before?

I see setups everyday but i dont seem to see them develop as good...¿?

Maybe its just me and my lack of experience... :/

Just a quick thought i had.

Cheers
Attached Image (click to enlarge)
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  • #5,208
  • Aug 20, 2010 8:27am Aug 20, 2010 8:27am
Quoting TheRoper
Hey pip, here is one starting now
Hi Roper,

Thanks for your reply.

I see the trade

However what i meant was if anyones noticed if volume has gone down and if trades tend to fakeout more than "usuall".

Sorry if i dont make myself clear. Basically from the thought that during august volume goes down, and since the method is based on momentum if this had lowered, hence producing more "fakeouts" than usuall. thats all .

Either way im still learning loads so i have a good way to go still .

cheers
  • #5,209
  • Aug 20, 2010 9:00am Aug 20, 2010 9:00am
I have not noticed any big difference. There are still some fakeouts that catch us.

Kurt

Quoting Pipalicious
Hi Roper,

Thanks for your reply.

I see the trade

However what i meant was if anyones noticed if volume has gone down and if trades tend to fakeout more than "usuall".

Sorry if i dont make myself clear. Basically from the thought that during august volume goes down, and since the method is based on momentum if this had lowered, hence producing more "fakeouts" than usuall. thats all .

Either way im still learning loads so i have a good way to go still .

cheers
  • #5,210
  • Aug 20, 2010 9:39am Aug 20, 2010 9:39am
A+ missed trade
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  • #5,211
  • Aug 20, 2010 10:19am Aug 20, 2010 10:19am
Quoting TheRoper
A+ missed trade
Hi Kurt,

loads of opportunity, especially you watch multi pairs

Just off from meeting. I missed many trades too

Hey guys, remember this is Fri NY, so dont expect too much.

Trade safe all

Eric
  • #5,212
  • Aug 20, 2010 12:37pm Aug 20, 2010 12:37pm
You are spot on. Eric and I will take some of these counter trend trades for a quick 10 pips or so. I would not recomend these until you are comfortable with the A+ Sho setups.

These two charts posted by Eric and Rob are the best setups IMHO.

Kurt
Quoting 786 trading
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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  • #5,213
  • Aug 20, 2010 12:50pm Aug 20, 2010 12:50pm
Howdy all.

I am working my way through the thread's pdf and getting a grip on how you do things here. Roper is right, this will play right into what I do. I believe with the added understanding from the information in this thread and the help from you all. I think I will get more opportunities for positions and possibly in them a little sooner, which will also equate to an even smaller stop loss.

So I am looking forward to the added benifit from what I will be learning here.

To start me on my "sho" understanding. I have posted my position last night and will list out as much of my thinking as possible.

Now your part.. Whoever has the time..
What other details did I overlook or things I need to consider etc.

1. The trend line that price broke was one drawn on a 15m chart. I took the 5m candle that broke and closed below it.

2. Stochastics were overbought and turning down. I don't car about it crossing. Also one of the few times I use Stoch..is when we are in a range bound situation.

3. The range was around 60 pips. This is the minimum for me to consider an entry. 1:3 ratio 20pip max SL. So 60 minimum range.

4. I did not take the pivot move into the DP. as this would have made my stop to big. I wanted over the previous swing high. It would hav been close to 30. I wound up with 15 for my SL

5. Candles started getting rejected at the upper end of the range (Long wicks)

6. The swing high was lower than the one that happened durring mid Tokyo sessioon

The position latter moved far beyond the lower end of the range. If I wasn't so tired at this poin, I probably would have thought about letting the last piece run

Thanks for any imput

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,214
  • Aug 20, 2010 12:54pm Aug 20, 2010 12:54pm
WHOAQAAAA!!!!!!
I hit the blame submit button before I was done...Going back to add to it.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,215
  • Aug 20, 2010 1:01pm Aug 20, 2010 1:01pm
See charts

Quoting 786 trading
Is EU buy is valid entry. The arrow one is signal bar and long at the opening of next bar.

Also E/Aud .. there I bought too which is stopped but after I realize that was wrong play. Impulsive move was down, up was corrective move. Am I correct?

Edit: EU also stopped out.
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  • #5,216
  • Aug 21, 2010 8:45am Aug 21, 2010 8:45am
Out of last 12 trades . 10 wins 2 loss. I don't want people to think I never lose.
I wish I could trade during London Session or around 9:00 eastern time. I have to go to work at 8:30 eastern.
  • #5,217
  • Aug 21, 2010 10:20am Aug 21, 2010 10:20am
Quoting jj7000
Out of last 12 trades . 10 wins 2 loss. I don't want people to think I never lose.
I wish I could trade during London Session or around 9:00 eastern time. I have to go to work at 8:30 eastern.



What sessions do you trade?

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,218
  • Aug 21, 2010 11:55am Aug 21, 2010 11:55am
Quoting Rufus


What sessions do you trade?

Rufus

Hi,

I trade from 6:00a.m- 7:30a.m U.S session central time and I try to trade the asian session if there is good action.

I hope you have a good weekend!
  • #5,219
  • Aug 22, 2010 4:19am Aug 22, 2010 4:19am
Quoting TheRoper
See charts
For sharing,

The second chart of EU M15 trade, as its been several impulsive / corrective waves, dont expect to gain more but focus on 1:1 of RR then quit.

Eric
  • #5,220
  • Aug 22, 2010 4:41pm Aug 22, 2010 4:41pm
Very good point Eric

Quoting Buildcity
For sharing,

The second chart of EU M15 trade, as its been several impulsive / corrective waves, dont expect to gain more but focus on 1:1 of RR then quit.

Eric
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