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Intraday price action trend trading

  • #6,681
  • May 31, 2011 6:32am May 31, 2011 6:32am
What a pity
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I hear and I forget. I see and I remember. I do and I understand.
  • #6,682
  • May 31, 2011 7:07am May 31, 2011 7:07am
My aud/chf short has triggered, and I reduce my risk 20%
on 1hr chart it looks like breakout confirmation with a pin,

Peter
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Jesus Christ is my only Lord !
  • #6,683
  • May 31, 2011 7:42am May 31, 2011 7:42am
Hello sho, i'm very happy to talk with you.


I watch your thread since severals month, and i like very much the way you trade, even if i find difficult to master your method of trading.


Here his my comments about your last chart.


I would add that the first top is an PB(the green one) wich failed, and the 3 last top are IB break up first, then break down by a beautiful A+ PB.


Then 4 arguments to go short:

-Green PB failed

- 3 IB made a triple (4 with the green PB) top

- Those 3 IB was up broken then down broken

-The bar wich had broken these IB is a A+ PB

The only problem for me is that the momentum seems up, isn't it?


I hope i'm right
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I hear and I forget. I see and I remember. I do and I understand.
  • #6,684
  • May 31, 2011 8:05am May 31, 2011 8:05am
A second entry, always on the sho's chart
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  • #6,685
  • May 31, 2011 10:27am May 31, 2011 10:27am
Two Pinbars. The first i was stopped out.

The second i closed position at TP.
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I hear and I forget. I see and I remember. I do and I understand.
  • #6,686
  • May 31, 2011 11:06am May 31, 2011 11:06am
I was stopped out. Would you take this trade, was it a good setup?

The PB/IB was up broken, but unfortunately failed and made another PB in the other direction.

Maybe i would have to go out of the trade at the close of this bearish PB,
rather than to wait until my stop was touched?

what do you think ? thanks
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I hear and I forget. I see and I remember. I do and I understand.
  • #6,687
  • Jun 1, 2011 3:07am Jun 1, 2011 3:07am
I watch gbp/chf for a short, will post a chart in a moment - have problems with connection, yesterday aud/chf closed for -0,8R

Peter
Jesus Christ is my only Lord !
  • #6,688
  • Jun 1, 2011 3:23am Jun 1, 2011 3:23am
and here they are...
gbp/chf is still in a strong downtrend, we had a reaction off a round nr and the price has formed a strong barier here several lows in a row,
the reaction has finished with a pin and on the close 4hr bar 20 min ago it formed an outside bar,


Peter
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Jesus Christ is my only Lord !
  • #6,689
  • Jun 1, 2011 3:35am Jun 1, 2011 3:35am
gbp/chfhas broken strng so I move sl by 50%

Peter
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  • #6,690
  • Jun 1, 2011 3:45am Jun 1, 2011 3:45am
EU supply and demand levels on 15 mins...
if you trade eu now be extra carefull ..its playing ping pong ....
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  • #6,691
  • Jun 1, 2011 3:49am Jun 1, 2011 3:49am
Hipcio, ok for your analysis for GBPCHF, but there was a new twenty minutes ago (GBP manufacturing PMI) which had moved the price fastly.

Are you not afraid to trade when news appear?
I hear and I forget. I see and I remember. I do and I understand.
  • #6,692
  • Jun 1, 2011 3:55am Jun 1, 2011 3:55am
Quoting boubafx
Hipcio, ok for your analysis for GBPCHF, but there was a news twenty minutes ago (GBP manufacturing PMI) which had moved the price fastly.

Are you not afraid to trade when news is happen?
GBP
Manufacturing PMI

30 GBP
Manufacturing PMI

30 GBP
Manufacturing PMI
To tell the truth I am afraid of everything, but I try to manage it
this sell stop order has been placed yesterday and it waited for some hrs
I placed it just on the base of strong trend down and the moutibar lows in a row,
Would I put it just before the news if it was not there ealer ?
I think yes because the story looked quite obvious to me I mean the retrace - the pin and reaction up and the ootside bar in a trend.

The only news that I really stop trading is NFPL,

Peter
Jesus Christ is my only Lord !
  • #6,693
  • Jun 1, 2011 5:27am Jun 1, 2011 5:27am
I will try again aud/chf for the short position,
as a result of a strong trend down and the retrace to the previous lows finished with the strong move down - BEOB
sell stop order will be placed below the lowest low with the tp at the RN 0.9000

Peter
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  • #6,694
  • Jun 1, 2011 5:39am Jun 1, 2011 5:39am
Bounce on RN and R1 pivot
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I hear and I forget. I see and I remember. I do and I understand.
  • #6,695
  • Jun 1, 2011 5:43am Jun 1, 2011 5:43am
"will try again aud/chf for the short position,
as a result of a strong trend down and the retrace to the previous lows finished with the strong move down - BEOB
sell stop order will be placed below the lowest low with the tp at the RN 0.9000"

Where is your stoploss?
I hear and I forget. I see and I remember. I do and I understand.
  • #6,696
  • Jun 1, 2011 5:51am Jun 1, 2011 5:51am
Quoting boubafx
"will try again aud/chf for the short position,
as a result of a strong trend down and the retrace to the previous lows finished with the strong move down - BEOB
sell stop order will be placed below the lowest low with the tp at the RN 0.9000"

Where is your stoploss?
above the BEOB (bearish outside bar)


Peter
Jesus Christ is my only Lord !
  • #6,697
  • Jun 1, 2011 5:59am Jun 1, 2011 5:59am
Break of the IB up then in the direction of the trend. And price rejected by strong support
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I hear and I forget. I see and I remember. I do and I understand.
  • #6,698
  • Jun 1, 2011 6:34am Jun 1, 2011 6:34am
Move gbp/chf to BE
it would not be wise to lose on this trade a cent,


Peter
Jesus Christ is my only Lord !
  • #6,699
  • Jun 1, 2011 6:37am Jun 1, 2011 6:37am
Quoting hipcio
Move gbp/chf to BE
it would not be wise to lose on this trade a cent,


Peter

Agree with you, first protect our capital, and after make profits
I hear and I forget. I see and I remember. I do and I understand.
  • #6,700
  • Jun 1, 2011 6:42am Jun 1, 2011 6:42am
Quoting boubafx
Agree with you, first protect our capital, and after make profits
Yep

I watch Your 15 min trades very closely - good job,
the timeframe is not for me but it looks very impressive,

Peter
Jesus Christ is my only Lord !
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