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Intraday price action trend trading

  • #5,421
  • Sep 6, 2010 6:25am Sep 6, 2010 6:25am
Quoting 786 trading
I also stopped out. The only reason I see now, in history by zoom out the chart that it was a supply area.

I dont know how important is to see that, and had following questions/confusions always:

do we need to zoom out every time and see if that is the demand/supply areas?
Should we not take long on supply and short at demand even there are A/A+ setups?
Hi,

-And now you can draw the same area (M15 Support).
-What i miss (lost connection for 1 hour) nice setup with Dragon bearish momentum, break the DP and retest it (usually i short on the retest of the DP more safe) and a nice drop.
Now looking for a retrace and maybe a short later if we have the same momentum.
Green pips to all
Attached Image (click to enlarge)
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Trade with the momentum
  • #5,422
  • Sep 6, 2010 6:26am Sep 6, 2010 6:26am
Quoting 786 trading
EJ Long Enter at retracement.
Edit: SL hit again.... not good day for me... I am out for today.
Hi 786,

The trade you took was corrective move, not impulsive. Also Keltner Channel was down. Also did you notice that last two Bullish Bar did not closed authoratively, I mean look at the wick on top of those bars, these indicate sellers are absorbing buyers, before the next down move.

In order to take counter trend (corrective move) you should look for either of these:

1) Double Bottom or Double Top.

2) Pinbar / Bullish Outside Bar / Bearish Outside Bar at Previous Support/Resistance or Round Number such as 1.3500 etc.

3) Bullish or Bearish Engulfing Bar at Previous Support/Resistance or Round Number

I hope this helps

Thanks,

Alifari
The purpose of knowledge is action, not knowledge
  • #5,423
  • Edited 7:28am Sep 6, 2010 7:17am | Edited 7:28am
short EU
Edit: exit BE
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  • #5,424
  • Edited 9:01am Sep 6, 2010 8:35am | Edited 9:01am
LONG EU

Stoped out -6pip
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  • #5,425
  • Sep 6, 2010 8:38am Sep 6, 2010 8:38am
Quoting ngu
Hello everyone

I just wanted to introduce myself and also ask a couple of questions.

Firstly, thank you very much to Sho and everybody who makes this an EXCELLENT thread and resource for learning.

This is my first post but I wasn't sure where to put this. Is the first thread still active (seems like Sho doesn't post there anymore)?

I have several questions but want to post them in the correct place.

Thank you

Mark
Welcome mate,

Sho's first thread is blocked but if you are the buddy list of him, or you got 10V, then you can post. PS - I trust Sho's intention is to limit the posts at 1st thread so that all valuable posts can be maintained and much easier for new comers. Hope you understand.

But feel free to post in 2nd thread (this one), if it is worth as a record, Sho would probably move it to the 1st.

Enjoy.
Eric
  • #5,426
  • Sep 6, 2010 9:04am Sep 6, 2010 9:04am
Hi 786,

i think u're correct, we should draw the supply/demand area from the historical zoom out,
but what i don't understand,
how long is the historical supply/demand area valid to the realtime bar,
is it enough that we just zoom out the M15, or we should move to higher timer frame for bigger picture to the past?
any advise guys...

Have a Nice pips,
Vashe

Quoting 786 trading
I also stopped out. The only reason I see now, in history by zoom out the chart that it was a supply area.

I dont know how important is to see that, and had following questions/confusions always:

do we need to zoom out every time and see if that is the demand/supply areas?
Should we not take long on supply and short at demand even there are A/A+ setups?
~ Patience is the Key ~
  • #5,427
  • Sep 6, 2010 9:05am Sep 6, 2010 9:05am
Hello to all!

Hope everyone doing well trading.

just have a quick question that maybe some of you have also asked yourselfs...

When trading on the 15m timeframe, do you look to take trades in direction of the higher TF's aswell or ONLY what the current 15m tf provides?

Say for example.

1) Take trades when 15m + 30m are in same direction (even 1hr...).

2) take trades ONLY with the 15m tf and nothing else.

I think its interesting but im not sure if anyone here has asked this before.¿?

Anyways thanks for your time!

take care,

pip

PS: went live today wooo!!! lost first trade hahaha
  • #5,428
  • Sep 6, 2010 9:15am Sep 6, 2010 9:15am
Hi 786,

1. Remember Sho did guide us momentum exceeds everything;
2. those demand and supply zones and r/n are areas / levels to takecare too;
3. Your entry seems right but a bit chasing the market;
4. We enter with A+, but play attention of where it is developed and whether it is after several impulsive / corrective move.

For safe trade, pass this trade as you have highlighted the area was a supply zone, for aggressive play, if we noticed the price is stalled within the s/r area, escape no matter you are + or -.

So always do pre-trade works first, particular those noticable s/r areas.

Hope this helps. and correct me if I'm wrong.

Cheers
Eric

Quoting 786 trading
I also stopped out. The only reason I see now, in history by zoom out the chart that it was a supply area.

I dont know how important is to see that, and had following questions/confusions always:

do we need to zoom out every time and see if that is the demand/supply areas?
Should we not take long on supply and short at demand even there are A/A+ setups?
  • #5,429
  • Sep 6, 2010 9:19am Sep 6, 2010 9:19am
Quoting Pipalicious
Hello to all!

Hope everyone doing well trading.

just have a quick question that maybe some of you have also asked yourselfs...

When trading on the 15m timeframe, do you look to take trades in direction of the higher TF's aswell or ONLY what the current 15m tf provides?

Say for example.

1) Take trades when 15m + 30m are in same direction (even 1hr...).

2) take trades ONLY with the 15m tf and nothing else.

I think its interesting but im not sure if anyone here has asked this before.¿?

Anyways thanks for your time!

take care,...

With intraday trading I trade only in direction of 1h trend. BUT I made the mistake last night of trading into resistance.....a bonehead mistake....Need to be aware of what is ahead of you. If I start to trade against the 1h trend I trade very cautiously (Tighter stops, quicker targets) until a new trend is established.


Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,430
  • Sep 6, 2010 9:21am Sep 6, 2010 9:21am
Quoting Buildcity
Hi 786,

1. Remember Sho did guide us momentum exceeds everything;
2. those demand and supply zones and r/n are areas / levels to takecare too;
3. Your entry seems right but a bit chasing the market;
4. We enter with A+, but play attention of where it is developed and whether it is after several impulsive / corrective move.

For safe trade, pass this trade as you have highlighted the area was a supply zone, for aggressive play, if we noticed the price is stalled within the s/r area, escape no matter you are + or -.

So always do pre-trade works...
AMEN BC.......I was to aggressive and inflexable last night. Cost me a few pips.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,431
  • Sep 6, 2010 9:23am Sep 6, 2010 9:23am
Hi Pip,

For share, I dont play much attention on the overall trend of higher TF. But I would have a look on the immediate bar / candle formation on H1 / H4. Of course pay attection on those S/R zones I've drawn before trade.

Its my play.
Eric


Quoting Pipalicious
Hello to all!

Hope everyone doing well trading.

just have a quick question that maybe some of you have also asked yourselfs...

When trading on the 15m timeframe, do you look to take trades in direction of the higher TF's aswell or ONLY what the current 15m tf provides?

Say for example.

1) Take trades when 15m + 30m are in same direction (even 1hr...).

2) take trades ONLY with the 15m tf and nothing else.

I think its interesting but im not sure if anyone here has asked this before.¿?

Anyways thanks for your time!

take care,...
  • #5,432
  • Sep 6, 2010 9:25am Sep 6, 2010 9:25am
Quoting Rufus
AMEN BC.......I was to aggressive and inflexable last night. Cost me a few pips.

Rufus

From "Trading in The Zone"

"Be rigid in our rules but flexible in our expectations"

Last night I was rigid but not flexible. Every day we need to be learning, that is what makes life fun.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,433
  • Sep 6, 2010 9:27am Sep 6, 2010 9:27am
Quoting Rufus
AMEN BC.......I was to aggressive and inflexable last night. Cost me a few pips.

Rufus
Hey Rufus,

I'm no good in longer term trade but you are. So please leave a little room for me please

Happy trading Rufus
Eric
  • #5,434
  • Sep 6, 2010 9:33am Sep 6, 2010 9:33am
Quoting Buildcity
Hey Rufus,

I'm no good in longer term trade but you are. So please leave a little room for me please

Happy trading Rufus
Eric
.
Last night I should have been thinking like a scalper, or little thief. It goes to show how important it is to uderstand various aspects of trading. When it comes to scalping, I am trying to learn what I can from you guys.

Rufus
Attached Image
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,435
  • Sep 6, 2010 9:38am Sep 6, 2010 9:38am
Thanks for the reply Eric - does Sho still come here and answer questions?

Mark
Holy Grail = J16 + F12 x infinity
  • #5,436
  • Edited 10:56am Sep 6, 2010 10:28am | Edited 10:56am
Quoting ngu
Thanks for the reply Eric - does Sho still come here and answer questions?

Mark
Voice out what you want to clarify, he will come when we need him
  • #5,437
  • Sep 6, 2010 10:31am Sep 6, 2010 10:31am
Quoting matlobien
WOW

What a great ride down on GU from 1.5470 rejectiom zone.

Hey matlobien, when I saw that setup it was a bit too late, I knew it was time for me to go to bed after that. LOL
  • #5,438
  • Sep 6, 2010 10:33am Sep 6, 2010 10:33am
Good job teaching City, Listen to him he definitely is a pro.
  • #5,439
  • Sep 6, 2010 10:44am Sep 6, 2010 10:44am
Hello everyone.
I will post my analysis here, I hope they will useable.
http://yfrog.com/n673cg the first one would be EUR/USD.
That was a long signal as the price retests the trendline.
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  • #5,440
  • Sep 6, 2010 10:46am Sep 6, 2010 10:46am
Quoting jj7000
Good job teaching City, Listen to him he definitely is a pro.
Hey JJ, I just repeated the words from Sho, and hanged around here a bit longer than you guys.

Keep learning from Sho
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