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  • #5,781
  • Oct 28, 2010 8:40am Oct 28, 2010 8:40am
Quoting Fxfighter
Hi Storeball,
I love your post you must work really hard mate.First of all I am not senior so you or another guys,just take it easy when you read my post lol.

No1. Well momentum is down but that first revelsal bar is IPB which can be take for quick scalp(very agresive entry against momentum)If I will take?depend on biger picture,more conflunce...

No2.Momentum is still down.

No3.Again pin for quick scalp,well yes is easy said that now,but If I take short I will be aware of those two strong bullish bars.Can be just profit taken and created...
Thanks alot for you reply Fx! I think you have a better grasp on it all then i do!

That IPB through me for a loop though, never heard that term before. I thought at first you meant inside pinbar or something I know them as reversed hammer or hanging man

At nr 7 I actually missed that beob, thanks for pointing it out. Though thats where its not so clear cut for me, because im still viewing things with a bullish bias at that point. But that should serve as a bearish hello, and that its shorting time.

Thanks for thoughts again

Now I have to meditate on shos post
  • #5,782
  • Oct 28, 2010 8:59am Oct 28, 2010 8:59am
Quoting Storeball
Thanks alot for you reply Fx! I think you have a better grasp on it all then i do!

That IPB through me for a loop though, never heard that term before. I thought at first you meant inside pinbar or something I know them as reversed hammer or hanging man

At nr 7 I actually missed that beob, thanks for pointing it out. Though thats where its not so clear cut for me, because im still viewing things with a bullish bias at that point. But that should serve as a bearish hello, and that its shorting time.

Thanks for thoughts again

Now...
Hey Storeball,
I think u do very well mate.Don't take my post like teaching lesson but only my view that's all.This is good way learn bring here chart of the day any pair and anyone can say what he or she see on the chart.Be good need more practice b/c 15 min tf is really quick to analyze current situation and for that at least me a lot of chart practice.
IPB is iverted pin bar,yep people know him hangig man I think) doesn't matter name as is work for us.
Store I see your posts and u do bloody great job.You work hard and u will pay for that for sure!!!
FX
  • #5,783
  • Oct 28, 2010 9:38am Oct 28, 2010 9:38am
Quoting Storeball
As I didnt fully grasp the movement of gu yesterday
Thanks for posting this. I'm sure everybody can benefit from it. Not only you show that you want to learn but also you gladly share what you learn. I'm always grateful to traders here that took time with their charts (with explanation) before they post them since I'm a visual learner also being English is not my first language. I wonder how many hours Sho spent on his.

Thanx
  • #5,784
  • Oct 28, 2010 10:41am Oct 28, 2010 10:41am
Quoting trade price
hello store
you did very well my friend... i am proud of you ..... i am just telling couple of setups easy way,,not going too deeper.dont wanna complicate for you. rest of them you did welll...its just the learning process....
no1 was a aggresive short entry,(coz no other confluences,but thats fine its trading it doesnot have to be perfect,thats why we use stop loss...) we did get stoped out..with a loss..

no 2 was a solid bull bar..we did get stoped out in no 1 (market was telling us something..it was telling us bulls were taking control...)...
Sho, you know you're the man! Thanks for replying

Yea that divergence really blew right past me, I even checked for it again as I made that chart but didnt look past the last swing or two on stock or else I'd catch it..

You said that the importance when drawing impulsive and corrective should be placed on the most recent moves. After a lot of pondering I think I understand what you're saying but at the same time i dont, as i cant really verbalize it..lol if that makes sence.

But what im feeling looking at the two charts i posted, is that instead of going into analysis paralysis, you simply say, on your chart trade number two, ok we had a corrective move, went long on the ib, price didnt get very far and created a nice pin to go the other way, and the most recent action we as scalpers had was a move down which price at the current moment failed to take out. So now its impulsive turned corrective and a new entry short.

And the same thing could pretty much be said about nr 4 on my chart as well. Weak break on what we thought of as a new impulsive wave out of trade 3, next comes the hammer pin so we take a look at the most recent activity and see the bull move up and a bearish pin that did very little to push price south, so again we get an impulsive turned corrective here as well.

It comes down to playing the most recent strength in other words really.

As i read through what I just wrote, I dont think that is really your thought process. And as I said im struggling putting to words what I really mean, so I guess thats just a sign that im not fully getting it, but I just might be over analyzing it all.

It'll click sooner or later, or perhaps my head will click first

But again, thanks for taking the time to reply! Greatly appreciated!
  • #5,785
  • Oct 28, 2010 11:10am Oct 28, 2010 11:10am
Well done storeball,

Keep it up, I have not been posting lately but I have a lot of success . I am at the point where I am taking trades off of supply and demand levels and closing my trades in profit where I used to enter, still using the principles of Sho
  • #5,786
  • Oct 28, 2010 1:04pm Oct 28, 2010 1:04pm
we'll see if speed continues
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  • #5,787
  • Oct 28, 2010 1:15pm Oct 28, 2010 1:15pm
I'm watching this one too...
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  • #5,788
  • Oct 28, 2010 2:49pm Oct 28, 2010 2:49pm
Quoting anthoniex
I'm watching this one too...
saw the divergence it didn' t work out.
My GU got stopped out with no profit. Market is slowing down...
This is what I think, any comment?
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  • #5,789
  • Oct 28, 2010 3:04pm Oct 28, 2010 3:04pm
Quoting anthoniex
saw the divergence it didn' t work out.
My GU got stopped out with no profit. Market is slowing down...
This is what I think, any comment?
Its tougher to trade during these hours after london close, just compare the candle bars on your charts now compared to a few hours ago. Thats the big money, or whats the cause of momentum leaving the market. As for the gu set up we're sitting at some support, check the 4h and you'll see. On that note there is a nice 4h pin to take notice of as well, so perhaps we'll see an opportunity to go short a little later.
  • #5,790
  • Oct 28, 2010 8:01pm Oct 28, 2010 8:01pm
Quoting anthoniex
saw the divergence it didn' t work out.
My GU got stopped out with no profit. Market is slowing down...
This is what I think, any comment?
Hi Anthoniex,
Which div.didn't work out?Showen worked well and if u used div.for your entry that is wrong I am afraid.We don;t use div.for entry b/c div.is only signal speed slow down and soon can change happend that's all.Anyway that signal bar is look fine too me but see this prior bearish big bar with not very strong closed as signal exhausted and as Storeball said quiet time.Maybe in london open they will push price to RN.
Anyway just my view but it is look u are doing well.

Good luck.
FX
P.s. Check Sho main thread and his view how to use divergence.
  • #5,791
  • Oct 28, 2010 8:52pm Oct 28, 2010 8:52pm
Quoting Fxfighter
Hi Anthoniex,

Good luck.
FX
P.s. Check Sho main thread and his view how to use divergence.
Thanx FX

See if this becomes an A+ setup. Three pinbars forming and now we only need 1 pointing the other way
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  • #5,792
  • Oct 28, 2010 9:04pm Oct 28, 2010 9:04pm
Quoting Fxfighter
this prior bearish big bar with not very strong closed
What do you mean by this?
I wasn't planning to enter based on divergence. I was gonna enter but then realised there's a divergence so decided not to enter.
  • #5,793
  • Oct 28, 2010 9:17pm Oct 28, 2010 9:17pm
I'm not sure if this last pinbar supposed to be a bear/ red bar? I'll give this one a shot...
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  • #5,794
  • Oct 28, 2010 9:25pm Oct 28, 2010 9:25pm
maybe... what do you think?
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  • #5,795
  • Oct 28, 2010 9:27pm Oct 28, 2010 9:27pm
Quoting anthoniex
What do you mean by this?
I wasn't planning to enter based on divergence. I was gonna enter but then realised there's a divergence so decided not to enter.
Not very strong closed.I mean that bearish bar didn't closed @ his low or very close to his low bar itself.Thing is this is small TF so probably don;t have too pay att. to much on this thing but I often do.
Again u can find many this kind of bars and price is still going down),This is only my tool and Sho said big bar with long wick can mean current momentum is loosing strenght.
I just like to look each bar itself and try to understand what is saying to me and than put few bars together for biger picture.
Again it is very low TF so noise)
Anyway:Momentum,Location is the key @ least for me.
P.S.Don't too much think about my analyze I am newbie,keep reading and thinking about Sho and other seniors post,they are valid info and help you.

I hope u are in short right now in E/U

FX
  • #5,796
  • Oct 29, 2010 12:18am Oct 29, 2010 12:18am
Quoting anthoniex
I'm not sure if this last pinbar supposed to be a bear/ red bar? I'll give this one a shot...
so far so good
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  • #5,797
  • Oct 29, 2010 3:38am Oct 29, 2010 3:38am
Quoting jj7000
Well done storeball,

Keep it up, I have not been posting lately but I have a lot of success . I am at the point where I am taking trades off of supply and demand levels and closing my trades in profit where I used to enter, still using the principles of Sho
Brilliant mate.

You got the key.

I do it from resent support + resistance levels.

It took me a long time to figure out what Sho told us when he said: " When you are out, I am in ;and when you are in, I am out.".

The hardest part is to explain it to somebody.

That is why he also said: "You have to feel the market".

  • #5,798
  • Oct 29, 2010 5:09am Oct 29, 2010 5:09am
Hello there!
first of all i wanna thank Mr.Sho and all active traders here! everything you're discussing here is very helpfull.
i'm new guy here and i'm not native english speaker , so pls be patient while reading my posts )) it took 2 + months for me to read entire main Sho's thread ( as i've said already - i'm not native english speaker ) ..i'm rereading it now for the 2nd time just to clear something up..
i trade also on a micro live account..
i'm not succesfull with it yet )) and if u dont mind i will start to post my trades here in this topic..

Herman
  • #5,799
  • Oct 29, 2010 6:47am Oct 29, 2010 6:47am
here 2 trades ...
have moved the sl to BE on both trades.. r:r ratio is 2 to 1...
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  • #5,800
  • Oct 29, 2010 7:39am Oct 29, 2010 7:39am
aud hits the TP, cad closed bcos of the forming divergence and reversal bar b4 the set of imortant news release...
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