Thanks FX n 786 for the input 
new week has come,
wish u all have a nice trading guys
new week has come,
wish u all have a nice trading guys
~ Patience is the Key ~
Intraday price action trend trading
- #5,342
- Edited 11:12pm Aug 29, 2010 11:01pm | Edited 11:12pm
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
A classic one, but bit chasing the market
- 2 momentum down bars, crossed the support zone and r/n, a little retarced but stalled again, and enter (the 2nd last red). Got 11 and quit as the price level was the previous stalled area (the lime green area), could be stayed on this level for a while, better quit.
- 2 momentum down bars, crossed the support zone and r/n, a little retarced but stalled again, and enter (the 2nd last red). Got 11 and quit as the price level was the previous stalled area (the lime green area), could be stayed on this level for a while, better quit.
- #5,343
- Aug 30, 2010 12:40am Aug 30, 2010 12:40am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
With Sho's setup, we have 2 good setup in last 2 hours. But since the bank holiday of UK, I didnt take these
- #5,345
- Edited 2:14am Aug 30, 2010 1:51am | Edited 2:14am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Its my observation, may be wrong
Be careful around 0700 London, (should be the closing of Sydney), always a sudden move. But what I think is the take you play was fine with Sho's setup.
Edit: See the pic below on what I meant (forget about the shown timing, its my time but not London)
No one can do a perfect exit, I meant it, but Sho's teaching is small SL, while you got few profit pips, better move your SL to BE if you are looking for more, depends on the personality we are, I would move SL to BE around +10 pips if I want to stay bit more with the trade.
For sharing
Cheers
Eric
Be careful around 0700 London, (should be the closing of Sydney), always a sudden move. But what I think is the take you play was fine with Sho's setup.
Edit: See the pic below on what I meant (forget about the shown timing, its my time but not London)
No one can do a perfect exit, I meant it, but Sho's teaching is small SL, while you got few profit pips, better move your SL to BE if you are looking for more, depends on the personality we are, I would move SL to BE around +10 pips if I want to stay bit more with the trade.
For sharing
Cheers
Eric
hi Eric,
i just take short for the second setup,
but it suddenly go up, any ideas?
should i stepped out after some pips? or i put the TP too far?
sometimes i still hard to find good point to take an exit,
please correct me
Vashe
- #5,346
- Aug 30, 2010 2:20am Aug 30, 2010 2:20am
Thanks Eric for the advise,
i think i should take a lot more practice about the exit,
moving SL to BE is very good strategy, like Sho always says "risk first"
Thanks again,
Have a great trading,
Vashe
i think i should take a lot more practice about the exit,
moving SL to BE is very good strategy, like Sho always says "risk first"
Thanks again,
Have a great trading,
Vashe
Its my observation, may be wrong
Be careful around 0700 London, (should be the closing of Sydney), always a sudden move. But what I think is the take you play was fine with Sho's setup.
No one can do a perfect exit, I meant it, but Sho's teaching is small SL, while you got few profit pips, better move your SL to BE if you are looking for more, depends on the personality we are, I would move SL to BE around +10 pips if I want to stay bit more with the trade.
For sharing
Cheers
Eric
~ Patience is the Key ~
- #5,348
- Aug 30, 2010 8:50am Aug 30, 2010 8:50am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Hi guys,
place short after pinbar, 50% fib retrace downtrend,
move the SL to BE+1
put TP above daily pivot,
please correct me,
Have a nice pips guys
Vashe
- #5,350
- Aug 31, 2010 12:16am Aug 31, 2010 12:16am
I usually do not trade on bank holidays, but yesterday there was a few good setups in London session and I got my 30 pips for the day.
Hope the rest of the week will also be blessed.
Trade safe.
Hope the rest of the week will also be blessed.
Trade safe.
- #5,351
- Aug 31, 2010 12:27am Aug 31, 2010 12:27am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
I usually do not trade on bank holidays, but yesterday there was a few good setups in London session and I got my 30 pips for the day.
Hope the rest of the week will also be blessed.
Trade safe.
What saw the next morning was a couple great set ups as well. Oh well I will still go to bed early on the next one.
Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #5,352
- Aug 31, 2010 3:31am Aug 31, 2010 3:31am
I stay away from bank holidays as well. Decided to take advantage of it and went to bed.
What saw the next morning was a couple great set ups as well. Oh well I will still go to bed early on the next one.
Rufus
I read your thread.
You are an inspiration.
Keep on your journey.
The pips will follow you.
- #5,355
- Aug 31, 2010 6:46am Aug 31, 2010 6:46am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Hi 786,
For me I would ignore the IB as it seems to be an indecision bar, the topest point should be the green pin, the next point is the bottom of momentum red bar.
Its my view
Eric
For me I would ignore the IB as it seems to be an indecision bar, the topest point should be the green pin, the next point is the bottom of momentum red bar.
Its my view
Eric
Hi Guys,
Later if some one can explain which one is correct implusive/corrective waves. It is E/J 15 min. chart. I am confused at the inside bar. I tried to draw it but I am not satisfy with it. Please comments on it and correct it.
Thanks.
Hi Guys,
Later if some one can explain which one is correct implusive/corrective waves. It is E/J 15 min. chart. I am confused at the inside bar. I tried to draw it but I am not satisfy with it. Please comments on it and correct it.
Thanks.
Keep it as simple as possible
Then again, im guilty on complicating things aswell hahaha
pip
- #5,357
- Aug 31, 2010 7:16am Aug 31, 2010 7:16am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
No play today but such a good materials on EJ M15, may I take this chance to show Sho's basic method for those new here.
Sho or others, please correct me if I'm wrong
For sharing
Eric
Sho or others, please correct me if I'm wrong
For sharing
Eric
No play today but such a good materials on EJ M15, may I take this chance to show Sho's basic method for those new here.
Sho or others, please correct me if I'm wrong
For sharing
Eric
hmm. the one that confuses me a bit is the very last one from 106.810 due to the momentum drop from previous highs.
But thats just me hehe
still learning!
pip
- #5,359
- Aug 31, 2010 7:39am Aug 31, 2010 7:39am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Hi Pip,
Ah yeah, this is an aggressive one. I would take this as the price tested again the s/r (seems minor one though) and raise again. You know I would probably take 10 or some more then quit, so this one is still valid for me. But again, this is rather risky one
. My view only. hehe
Nice to share
Eric
Ah yeah, this is an aggressive one. I would take this as the price tested again the s/r (seems minor one though) and raise again. You know I would probably take 10 or some more then quit, so this one is still valid for me. But again, this is rather risky one
. My view only. heheNice to share
Eric
Hi Eric
hmm. the one that confuses me a bit is the very last one from 106.810 due to the momentum drop from previous highs.
But thats just me hehe
still learning!
pip
- #5,360
- Aug 31, 2010 7:48am Aug 31, 2010 7:48am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts