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Intraday price action trend trading

  • #5,441
  • Sep 6, 2010 9:03am Sep 6, 2010 9:03am
Thanks again Eric. Well, I have quite a few questions - i think too much :-)

I have read all of the posts from the first thread and am making my way through the existing thread. These are the things I'm still unclear on:

1. How do you determine the support/resistance levels? I was taught to use Market Profile levels and don't really know any other method

2. How does Sho play wedges and calculate the wedge target?

3.What is the 'source of the force'?

Thank you all in advance

Regards

Mark
Holy Grail = J16 + F12 x infinity
  • #5,442
  • Sep 6, 2010 10:16am Sep 6, 2010 10:16am
USDCHF, Monthly, 2010 September 06

Long Term Trade

Market price seems for me a good possibility for several enter longs at:

1.01170 / 0.9920 / 0.9670

May be one or two levels could be triggered.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF, Monthly, 2010 September 06.jpg Size: 248 KB
  • #5,443
  • Sep 6, 2010 11:04am Sep 6, 2010 11:04am
Quoting alifari
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.


Alifari
Quoting Buildcity
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
Thanks Alifari and Eric. These are helpful for me. I will re-organize myself today.
  • #5,444
  • Sep 6, 2010 2:23pm Sep 6, 2010 2:23pm
Thank you very much for the reply Sho

I'm looking forward to following your trading in the future.

Kind regards

Night all

Mark
Holy Grail = J16 + F12 x infinity
  • #5,445
  • Sep 6, 2010 4:43pm Sep 6, 2010 4:43pm
I think I am not drawing the impulsive/corrective waves correcty. I thought that was impulsive wave which you mentioned as corrective. I was not taking counter trade. I am in begining stage so trying to move with impulsive wave only.
Please see that two images.. one is just clear for ref. and other I draw the imp/corr wave. Please any comments on it if they are correct?
Sho can you also please look it if it is correct?

Quoting alifari
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...
Attached Image(s) (click to enlarge)
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  • #5,446
  • Sep 6, 2010 7:37pm Sep 6, 2010 7:37pm
Another nice setup out at +15
Attached Image (click to enlarge)
Click to Enlarge Name: another trade 13.jpg Size: 182 KB
  • #5,447
  • Sep 6, 2010 7:51pm Sep 6, 2010 7:51pm


Quoting jj7000
Another nice setup out at +15
~ Patience is the Key ~
  • #5,448
  • Edited 10:45pm Sep 6, 2010 8:52pm | Edited 10:45pm
took short after pinbar, rejecting middle KC, 50 fib,
hope this is a correct one,

Have a Nice trading all
Vashe

Update : stop at +15
Attached Image (click to enlarge)
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~ Patience is the Key ~
  • #5,449
  • Sep 6, 2010 11:45pm Sep 6, 2010 11:45pm
Quoting jj7000
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
Don't worry.

Another one will come soon.

  • #5,450
  • Sep 7, 2010 1:30am Sep 7, 2010 1:30am
Quoting matlobien
Don't worry.

Another one will come soon.

And there you go.

  • #5,451
  • Sep 7, 2010 3:30am Sep 7, 2010 3:30am
Quoting vashe
took short after pinbar, rejecting middle KC, 50 fib,
hope this is a correct one,

Have a Nice trading all
Vashe

Update : stop at +15
Hey Vashe,

your trade was a bit flat and looked like a bottom up 123 formation. Glad you still got 15 from this

Keep going man
Eric
  • #5,452
  • Sep 7, 2010 4:43am Sep 7, 2010 4:43am
another nice setup out +8
Attached Image (click to enlarge)
Click to Enlarge Name: another trade 14.jpg Size: 182 KB
  • #5,453
  • Sep 7, 2010 5:23am Sep 7, 2010 5:23am
Quoting jj7000
another nice setup out +8
You have a lot of patience.

Well done.

  • #5,454
  • Sep 7, 2010 5:38am Sep 7, 2010 5:38am
Thank u Eric,

i think u're right, after i put short it moved to the other side -7,
i was lucky it turned back,
i think i should do more practice screening on the chart to see the right momentum,
Thanks for the advise, i also following ur journal, i really learn a lot

Have a Nice trading
Vashe

Quoting Buildcity
Hey Vashe,

your trade was a bit flat and looked like a bottom up 123 formation. Glad you still got 15 from this

Keep going man
Eric
~ Patience is the Key ~
  • #5,455
  • Edited 6:47am Sep 7, 2010 5:51am | Edited 6:47am
EURUSD Long

UPDATE: Closed +20
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-09-07_0851_Long_EURUSD.png Size: 83 KB
  • #5,456
  • Sep 7, 2010 6:14am Sep 7, 2010 6:14am
Quoting TheRoper
EURUSD Long
Hey kurt
Keep my pips too
Still in mmeting.
Type this in mobile
Eric
  • #5,457
  • Sep 7, 2010 6:16am Sep 7, 2010 6:16am
sneak off to the bathroom and make some trades on your mobile
Quoting Buildcity
Hey kurt
Keep my pips too
Still in mmeting.
Type this in mobile
Eric
  • #5,458
  • Sep 7, 2010 6:23am Sep 7, 2010 6:23am
Quoting jj7000
another nice setup out +8
Sweet setup there...


Thats my focus...

Momentum, trend, s/r, signal bar (pb, ob, ib).

Trade *WITH* the trend...trade *WITH* the momentum.

Focus on ONE setup and master it.

Then add to it

Specialize

Thats what im doing until i take trades with no emotion whatsoever.

Only then, will i add to it i.e. CT, ....

My 2 pips lol

pip
  • #5,459
  • Sep 7, 2010 6:27am Sep 7, 2010 6:27am
Hi Kurt,
it is nice counter trading move
i was wondering, based on what you put a long move there?
is it because of double bottom and the stoch?
need a wise advise here..

Have a Nice pips (of course u already got them... )
Vashe

Quoting TheRoper
EURUSD Long
Attached Image
~ Patience is the Key ~
  • #5,460
  • Sep 7, 2010 6:37am Sep 7, 2010 6:37am
Very Nice Vashe you are learning

Quoting vashe
Hi Kurt,
it is nice counter trading move
i was wondering, based on what you put a long move there?
is it because of double bottom and the stoch?
need a wise advise here..

Have a Nice pips (of course u already got them... )
Vashe
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-09-07_0851_Long_EURUSD_Vashe_Answer.png Size: 108 KB
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