I save this in my file; somewhere in the middle of this thread.
, I learnt alot from him too.
Intraday price action trend trading
- #6,061
- Dec 2, 2010 3:31am Dec 2, 2010 3:31am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
, I learnt alot from him too.
- #6,062
- Dec 2, 2010 3:52am Dec 2, 2010 3:52am
My understanding is Inside Bar is a pause of the current trend or it could be reversed.
If in trade, hold the trade until Inside Bar/PinBar/Big Bar/divergence spotted.
For current trend continuation, buy if break Inside Bar or sell if break Inside Bar
While doing revision about the chart, I am not sure if the play of Inside Bar is correct.
orange:short
blue:long
green:outside bar retrace and entry
===================================
Can you confirm my understanding
Thank you for your time.
If in trade, hold the trade until Inside Bar/PinBar/Big Bar/divergence spotted.
For current trend continuation, buy if break Inside Bar or sell if break Inside Bar
While doing revision about the chart, I am not sure if the play of Inside Bar is correct.
orange:short
blue:long
green:outside bar retrace and entry
===================================
Can you confirm my understanding
Thank you for your time.
Shake it off!Lick the Wound,Prey Again!
- #6,063
- Edited 5:47am Dec 2, 2010 5:26am | Edited 5:47am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Mate,
Some sharing here,
1. a round bottom here;
2. yes, it is an OB, OB tells us that the bullish is in-charge at the moment;
3. try to imagine a KC is here, it probable up from lower band and break the centre line (SMA10),
4. for the case of KC, it probable in the up trend too;
5. look at the swing, it could be swing higher at the moment;
6. the next bar open upper than the OB, the up force is still here;
So I think you should know there is still room for upward play; go for long.
For our general rules on OB wait for retrace, it usually applies to really big bar then we wait for retrace, in this case we still have room to play then straight to long.
My view.
Eric
Additional info:
I still remember that Sho did told us pin / OB / IB is all good signal but please follow the trend (and the momentum of course), so dont play those in opposite direction. Familiar with this rules 1st before consider any counter trend trade.
Some sharing here,
1. a round bottom here;
2. yes, it is an OB, OB tells us that the bullish is in-charge at the moment;
3. try to imagine a KC is here, it probable up from lower band and break the centre line (SMA10),
4. for the case of KC, it probable in the up trend too;
5. look at the swing, it could be swing higher at the moment;
6. the next bar open upper than the OB, the up force is still here;
So I think you should know there is still room for upward play; go for long.
For our general rules on OB wait for retrace, it usually applies to really big bar then we wait for retrace, in this case we still have room to play then straight to long.
My view.
Eric
Additional info:
I still remember that Sho did told us pin / OB / IB is all good signal but please follow the trend (and the momentum of course), so dont play those in opposite direction. Familiar with this rules 1st before consider any counter trend trade.
My understanding is Inside Bar is a pause of the current trend or it could be reversed.
If in trade, hold the trade until Inside Bar/PinBar/Big Bar/divergence spotted.
For current trend continuation, buy if break Inside Bar or sell if break Inside Bar
While doing revision about the chart, I am not sure if the play of Inside Bar is correct.
orange:short
blue:long
green:outside bar retrace and entry
===================================
Can you confirm my understanding
Thank you for your time.
- #6,064
- Dec 2, 2010 6:19am Dec 2, 2010 6:19am
Hi Megara!!
your analysis is pretty good! thanks! i really appreciate it..
well.. i want to talk about the divergence here...
Sho alwais told that it's for exit only... but i have noticed he mentioned couple of times that it's important to spot divergence before the entry as well.. so i'm a bit confused
so i desided to consider the divergence when it spotted and do not trade as it occured while the price is above/under the solid support/resistance or round number and/or unusual big candles occured...
so if you look at my eurgbp chart with the divergence spotted there was the biiig candle resistance was broken... so i entered(but it was a looser) ... when you look at the ej chart , there was the diver but nor biig candles neither solid levels abouve... it was a winner..
just my thoughts..
your analysis is pretty good! thanks! i really appreciate it..
well.. i want to talk about the divergence here...
Sho alwais told that it's for exit only... but i have noticed he mentioned couple of times that it's important to spot divergence before the entry as well.. so i'm a bit confused
so i desided to consider the divergence when it spotted and do not trade as it occured while the price is above/under the solid support/resistance or round number and/or unusual big candles occured...
so if you look at my eurgbp chart with the divergence spotted there was the biiig candle resistance was broken... so i entered(but it was a looser) ... when you look at the ej chart , there was the diver but nor biig candles neither solid levels abouve... it was a winner..
just my thoughts..
- #6,070
- Edited 9:26pm Dec 2, 2010 8:53pm | Edited 9:26pm
Just took this trade on the EUR/USD as it appeared to be a break to the down side after three pin bars failed to close above middle line.
Please give me your thoughts abbout this.
Also took a short on EUR/JPY as it appears to break through the bottom of a short term duble bottom.
EUR/USD moved stop to break even taken 40% profit at +8.
45 minutes latter and both aer stoped out. EUR/USD break even, EUR/JPY -10pips.
Please give me your thoughts abbout this.
Also took a short on EUR/JPY as it appears to break through the bottom of a short term duble bottom.
EUR/USD moved stop to break even taken 40% profit at +8.
45 minutes latter and both aer stoped out. EUR/USD break even, EUR/JPY -10pips.
Mr pips your coming with me
- #6,072
- Dec 3, 2010 1:02am Dec 3, 2010 1:02am
Hi Megara!!
your analysis is pretty good! thanks! i really appreciate it..
well.. i want to talk about the divergence here...
Sho alwais told that it's for exit only... but i have noticed he mentioned couple of times that it's important to spot divergence before the entry as well.. so i'm a bit confused http://cdn.forexfactory.com/images/s.../yim/happy.gif
so i desided to consider the divergence when it spotted and do not trade as it occured while the price is above/under the solid support/resistance or round number and/or unusual big candles occured...
These rule will stack odd to my favour
-------------------------
so if you look at my eurgbp chart with the divergence spotted there was the biiig candle resistance was broken... so i entered(but it was a looser) ...
Momentum+corrective+no divergencce= Action
---------------------------
when you look at the ej chart , there was the diver but nor biig candles neither solid levels abouve... it was a winner..
Me too don't know when big player wanted to overturn their trump card, that's why I pass the trade if I see the div. else I may pass away
just my thoughts.. http://cdn.forexfactory.com/images/s.../yim/happy.gif
That's my experience for being stupidity
==============
Though Sho said it used for exit but I got burnt for ignoring its existence in front of my chart.
"Divergence means slow down for current trend,watch out folks!"
Someone said to me. I need to dig the file and posted here if I found it
So my own hard rules are:
MOMENTUM;CORRECTIVE; NO DIVERGENCE;ACTION
You trade 15min TF, there are many buses for you
======================
A check at Eric's journal:
Entry rules
....
....
....
4. Check the M15 stoch, no divergence 1st, even it is in the oversold / overbought area, no hesitation to go. Cos major move always spot on the "over" area. For conservative approach, then we need to wait for the same trend of stoch & price trend, there could be plenty of good trade being missed but safe.
====================
your analysis is pretty good! thanks! i really appreciate it..
well.. i want to talk about the divergence here...
Sho alwais told that it's for exit only... but i have noticed he mentioned couple of times that it's important to spot divergence before the entry as well.. so i'm a bit confused http://cdn.forexfactory.com/images/s.../yim/happy.gif
so i desided to consider the divergence when it spotted and do not trade as it occured while the price is above/under the solid support/resistance or round number and/or unusual big candles occured...
These rule will stack odd to my favour
-------------------------
so if you look at my eurgbp chart with the divergence spotted there was the biiig candle resistance was broken... so i entered(but it was a looser) ...
Momentum+corrective+no divergencce= Action
---------------------------
when you look at the ej chart , there was the diver but nor biig candles neither solid levels abouve... it was a winner..
Me too don't know when big player wanted to overturn their trump card, that's why I pass the trade if I see the div. else I may pass away
just my thoughts.. http://cdn.forexfactory.com/images/s.../yim/happy.gif
That's my experience for being stupidity
==============
Though Sho said it used for exit but I got burnt for ignoring its existence in front of my chart.
"Divergence means slow down for current trend,watch out folks!"
Someone said to me. I need to dig the file and posted here if I found it
So my own hard rules are:
MOMENTUM;CORRECTIVE; NO DIVERGENCE;ACTION
You trade 15min TF, there are many buses for you
======================
A check at Eric's journal:
Entry rules
....
....
....
4. Check the M15 stoch, no divergence 1st, even it is in the oversold / overbought area, no hesitation to go. Cos major move always spot on the "over" area. For conservative approach, then we need to wait for the same trend of stoch & price trend, there could be plenty of good trade being missed but safe.
====================
Shake it off!Lick the Wound,Prey Again!
- #6,073
- Dec 3, 2010 1:14am Dec 3, 2010 1:14am
If you refer to the chart above, there are many fake divergence,
until the last one.
I avoided this pair to save myself from being their meal
until the last one.
I avoided this pair to save myself
from being their meal
Shake it off!Lick the Wound,Prey Again!
- #6,074
- Dec 3, 2010 1:25am Dec 3, 2010 1:25am
Mate,
Some sharing here,
1. a round bottom here;
2. yes, it is an OB, OB tells us that the bullish is in-charge at the moment;
3. try to imagine a KC is here, it probable up from lower band and break the centre line (SMA10),
4. for the case of KC, it probable in the up trend too;
5. look at the swing, it could be swing higher at the moment;
6. the next bar open upper than the OB, the up force is still here;
So I think you should know there is still room for upward play; go for long.
For our general rules on OB wait for retrace, it usually applies...
You really a pro to me. I forgot to imagine KC
in progressI will work hard again. Really admire you
Shake it off!Lick the Wound,Prey Again!
