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Intraday price action trend trading

  • #6,261
  • Jan 20, 2011 4:04am Jan 20, 2011 4:04am
Quoting Headless
Hey all, I'm new to Sho's method.

Just wondering what you think of this setup I took this morning. Looked like a decent setup to me - nice pin off previous resistance, with trend and also off mid Keltner.

I don't ecpect every trade to profit but this got stopped out quickly.

Would like feedback please - especially Sho if he's around!

Cheers!

PS - great thread, many thanks for starting
Hi!!
i didnt take the trade after that signal bar(big pin) as i was cautioned of resistance area just above(Daily and H4 TF's)... but i took another signal bar and entered as price could not get lower with another nice pin (see the picture) with small 10 pip risk... but it was a looser...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cad1.gif Size: 28 KB
Click to Enlarge Name: cad1_1.gif Size: 30 KB
  • #6,262
  • Jan 20, 2011 5:10am Jan 20, 2011 5:10am
Thanks Gravi for the feedback.

Another trade here and stopped out again.

Price broke resistance and found support at the retest. I bought the break (up) of the inside bar but was stopped out minutes later.

Am I on the right track with Sho's method? Is it just a choppy day?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 15min.png Size: 128 KB
  • #6,263
  • Jan 20, 2011 5:55am Jan 20, 2011 5:55am
This was a quick nip in & out before the lunchtime lull.

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 15 Min 20 Jan 2011.jpg Size: 231 KB
  • #6,264
  • Jan 20, 2011 6:16am Jan 20, 2011 6:16am
Quoting Buildcity
You man!!

You traded them all??
Well if I didn't take the pips, you would take them instead!
  • #6,265
  • Jan 20, 2011 6:43am Jan 20, 2011 6:43am
The market is pretty sideway. Better wait after the release of unemployment news......

Take a break
  • #6,266
  • Jan 20, 2011 6:52am Jan 20, 2011 6:52am
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-20_2050.png Size: 30 KB
  • #6,267
  • Jan 20, 2011 8:13am Jan 20, 2011 8:13am
...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 28 KB
Click to Enlarge Name: eurgbp1.gif Size: 30 KB
Click to Enlarge Name: gu1.gif Size: 28 KB
  • #6,268
  • Jan 20, 2011 8:14am Jan 20, 2011 8:14am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Did you steal some,City
Attached Image (click to enlarge)
Click to Enlarge Name: USD.png Size: 39 KB
Shake it off!Lick the Wound,Prey Again!
  • #6,269
  • Jan 20, 2011 8:16am Jan 20, 2011 8:16am
Here's one I took an hour before US unemployment claims. My entry signal was the bearish outside bar/pinbar six candles back....

http://i1133.photobucket.com/albums/...g?t=1295532385
  • #6,270
  • Jan 20, 2011 8:21am Jan 20, 2011 8:21am
Quoting Headless
Thanks Gravi for the feedback.

Another trade here and stopped out again.

Price broke resistance and found support at the retest. I bought the break (up) of the inside bar but was stopped out minutes later.

Am I on the right track with Sho's method? Is it just a choppy day?
i think you did it right way... you went with momentum but stopped out..
your play was breakout play... but if you played more agressive and went long just after the IB closed the worst scenario for you would be the breakeven ...(with proper trade management )
  • #6,271
  • Jan 20, 2011 8:23am Jan 20, 2011 8:23am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Au
Attached Image (click to enlarge)
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Shake it off!Lick the Wound,Prey Again!
  • #6,272
  • Edited 8:49am Jan 20, 2011 8:34am | Edited 8:49am
Quoting Megara
Did you steal some,City
No la, hesitate to jump in after this important news, and another one is coming....
  • #6,273
  • Jan 20, 2011 8:37am Jan 20, 2011 8:37am
Quoting Megara
Au
I dont think it is late!! good trade

What time frame it was?? I cant find in my chart.
  • #6,274
  • Jan 20, 2011 8:42am Jan 20, 2011 8:42am
GU, even I caught some from the pointing red bar, I felt guity!! I was quit at r/n, but this was a nice 50 run!!
Attached Image (click to enlarge)
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  • #6,275
  • Jan 20, 2011 8:48am Jan 20, 2011 8:48am
Euro and pound are in different direction......

I really sit tight on my hands
  • #6,276
  • Jan 20, 2011 9:20am Jan 20, 2011 9:20am
A quick 15 pips on GJ. It made me a bit nervous because of the strong downward momentum. All on demo so far as I get used to the method.

http://i1133.photobucket.com/albums/...g?t=1295536696
  • #6,277
  • Edited 6:16am Jan 21, 2011 5:28am | Edited 6:16am
i had 2 A+ trades ( uj and eu) today.. both were loosers
i have another A+ (A++) trade open atm ( cad).. will see what will happened ..

upd.. closed manually - the price stalled at the level... indesision bars occured..
Attached Image(s) (click to enlarge)
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  • #6,278
  • Jan 21, 2011 7:50am Jan 21, 2011 7:50am
I just missed this one. I was waiting for the bar to form and meanwhile, looking at other charts. By the time I saw it, the price had already moved 3 or 4 pips in my direction. Without me....

Oh well, more around the corner.


http://i1133.photobucket.com/albums/...g?t=1295617634
  • #6,279
  • Edited 9:53am Jan 21, 2011 8:50am | Edited 9:53am
My last trade of the week. A loser. I'll survive....

Entered based on the outside bar. The red candle with the arrow pointing at it.

http://i1133.photobucket.com/albums/...urgbp12111.png

http://i1133.photobucket.com/albums/...p12111loss.png
  • #6,280
  • Jan 24, 2011 8:59am Jan 24, 2011 8:59am
Its Monday so the market is pretty slow??

Sometime its really rare that all EJ / EU / GU and AU are in move, but GY just studd with UJ
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