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Intraday price action trend trading

  • #5,221
  • Aug 22, 2010 4:59pm Aug 22, 2010 4:59pm
For 786

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
Attached Image
  • #5,222
  • Aug 22, 2010 5:13pm Aug 22, 2010 5:13pm
Hey Rufus, this was a fantastic entry. Low risk stop and plenty of room to fall

Quoting Rufus
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...
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  • #5,223
  • Aug 22, 2010 9:40pm Aug 22, 2010 9:40pm
hi guys,

i'm a new comer in this thread, i've just read sho's secret weapon technique,
and i think i found the golden egg from his thread, thank u very much sho, for ur kindness to share with us,
and thank u for all u guys for giving advices about this system,
i've following this thread for some times, it's very good, n thanks a lot for experts who have share this system
i really new in this system, so need a lot of guidance from masters here ^^

thank u guys ^^
~ Patience is the Key ~
  • #5,224
  • Aug 22, 2010 11:28pm Aug 22, 2010 11:28pm
Quoting TheRoper
For 786
I need to pay more attention and watch very carefully what is happening now. How bars are closing and where they are closing. As Eric said watch previous bars. Also I was not considering S/R.
Now I would pay attention on bars where they are closing and how they are moving and also s/r and demand supply levels.
Will post my charts now and will trade this week with new guide line.
Also I would only trade E/U and G/U.
Thanks all and have a good trade.
I am watching GU moving down but it is on support level too which was previously a resistance. I will watch PA there then will go with market.

Thanks all of you for helping me.
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  • #5,225
  • Aug 22, 2010 11:46pm Aug 22, 2010 11:46pm
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

If you read most of the threads (like this) on FF and also read Sho's own instructions, they all say

- not to trade when markets are flat

- not to trade in August and second half of December (and 1-2 first weeks of Jan sometimes).


Guess this should answer you.
  • #5,226
  • Aug 23, 2010 12:07am Aug 23, 2010 12:07am
Quoting TheRoper
For 786
I am also learning this whole Sho's technique.

Do you think I could correctly comment on the picture if I added that I'd have stayed off shorting because the two green bars have almost same bottom plus the second includes the first, ie bullish signal?
  • #5,227
  • Edited 9:03am Aug 23, 2010 8:47am | Edited 9:03am
Anyone in? 30m/15m bullflag broken with strong momentum.

Aiming for 2:1.

What do you guys think?

cheers

Entrance above the 15m pin within the range.

Update: out with 11.5 pips. aprox. 1,75% return
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  • #5,228
  • Aug 23, 2010 7:09pm Aug 23, 2010 7:09pm
Quoting Pipalicious
Anyone in? 30m/15m bullflag broken with strong momentum.

Aiming for 2:1.

What do you guys think?

cheers

Entrance above the 15m pin within the range.

Update: out with 11.5 pips. aprox. 1,75% return
great trade Pip,you had lot of conflunce.

fx
  • #5,229
  • Aug 24, 2010 5:06am Aug 24, 2010 5:06am
Hi my 2 trades today so far.Any comment welcome.

FX.
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  • #5,230
  • Aug 24, 2010 7:42am Aug 24, 2010 7:42am
Hi folks,

Anyone catch any of these beauties?

Totally missed them! haha

Pip
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  • #5,231
  • Aug 24, 2010 8:44am Aug 24, 2010 8:44am
Nice ones PIP, been busy at work the last couple of days and have not been able to trade

Kurt

Quoting Pipalicious
Hi folks,

Anyone catch any of these beauties?

Totally missed them! haha

Pip
  • #5,232
  • Aug 24, 2010 8:45am Aug 24, 2010 8:45am
Perfect set ups Fxfighter

Quoting Fxfighter
Hi my 2 trades today so far.Any comment welcome.

FX.
  • #5,233
  • Aug 24, 2010 8:46am Aug 24, 2010 8:46am
Yes, another caution sign

Quoting dfumagalli
I am also learning this whole Sho's technique.

Do you think I could correctly comment on the picture if I added that I'd have stayed off shorting because the two green bars have almost same bottom plus the second includes the first, ie bullish signal?
  • #5,234
  • Aug 24, 2010 8:50am Aug 24, 2010 8:50am
Quoting TheRoper
Yes, another caution sign
caution signs indeed.
  • #5,235
  • Aug 24, 2010 9:03am Aug 24, 2010 9:03am
I am trying to spot and practice on S/R with PA.
I am long above the resistance which is acting as support now. Is it correct? please guide.
Edit: GU +16, EU +14
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  • #5,236
  • Aug 24, 2010 9:05am Aug 24, 2010 9:05am
WOW, home sales really shaking up the dollar
  • #5,237
  • Aug 24, 2010 9:10am Aug 24, 2010 9:10am
Quoting TheRoper
Perfect set ups Fxfighter
Thanks Kurt, I have been almost in trade U/Ch short but I went with U/C for only 10 pips before news,hehe that will be trade short U))) home sales are red and U dollar is bloody down.
  • #5,238
  • Aug 24, 2010 9:14am Aug 24, 2010 9:14am
two classic sho setups
1st pic is UJ
2nd is EJ

http://www.forexfactory.com/showpost...5&postcount=80
Attached Images
  • #5,239
  • Aug 24, 2010 9:25am Aug 24, 2010 9:25am
Quoting 786 trading
I am trying to spot and practice on S/R with PA.
I am long above the resistance which is acting as support now. Is it correct? please guide.
Edit: GU +16, EU +14
Hey 786,excellent hehe you've trading news?))
good trade,you see pratice and you are there.
FX
  • #5,240
  • Aug 24, 2010 9:31am Aug 24, 2010 9:31am
hehe dollar droped like rock,hm it's just shame that U/Ch as I had open that chart,hm sexi pin bar @4hr and sexi entry @15 min with small SL .Hm well next one.
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