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Intraday price action trend trading

  • #6,981
  • Jun 22, 2011 7:44am Jun 22, 2011 7:44am
Quoting elliotrader
yey!got it at the pclose of the pin bar shown with the blue arrow
will try to hold it till supply level on the 4hr chart.
anyway im on the profit side the Q left is just how much profit

thx guys!

Be careful with this kind of entry, because you chase the market
I hear and I forget. I see and I remember. I do and I understand.
  • #6,982
  • Jun 22, 2011 7:50am Jun 22, 2011 7:50am
Quoting elliotrader
42+ ticks in less than 2 min!!
Very impressive in less than 2 mn. The dream trade!!!!!!!!
I hear and I forget. I see and I remember. I do and I understand.
  • #6,983
  • Jun 22, 2011 8:08am Jun 22, 2011 8:08am
hi bobafx!!

to be honest i didnt even dream to make 42 ticks but hey no complains here!!

now, u said i was chasing the market so i would like to ask u something since u are more expirenced with this method.
i thought that this was A+ setup bc after price broke resistence level(yellow line) with strong bullish candle (as u mentioned) and continued with 2 more green candles that closed abouve the upper KC,than i had the pin bar that also closed abouve the KC= perfect entry,no?

pls dont think im challenging ur opinion im just trying to understand this method better.
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  • #6,984
  • Jun 22, 2011 8:37am Jun 22, 2011 8:37am
audusd caught my eye...

i will wait for a pullback but if i see that the pullback contains big red bars i will change my mind since it might indicate a change in momentum.
lets see the price action if PB really occurs.

any thoughts?
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  • #6,985
  • Jun 22, 2011 8:59am Jun 22, 2011 8:59am
Quoting elliotrader
hi bobafx!!

to be honest i didnt even dream to make 42 ticks but hey no complains here!!

now, u said i was chasing the market so i would like to ask u something since u are more expirenced with this method.
i thought that this was A+ setup bc after price broke resistence level(yellow line) with strong bullish candle (as u mentioned) and continued with 2 more green candles that closed abouve the upper KC,than i had the pin bar that also closed abouve the KC= perfect entry,no?

pls dont think im challenging ur opinion im just trying to understand...
No, it was not a good setup, it's a continuation of the momentum. You have to wait a corrective. If it havd been a inside bar, i'm ok, you could take this trade.

But where you take the trade is maybe at the middle, or at the end of the impulsive, who knows? For me it's dangerous, because you are too late, and the risk of a corrective move after these big greens bars is big.

I prefer enter sooner (end of corrective move) and go out sooner too.

It's my point of view, beacause i am a conservative trader, it suits me better.

However, your trade was a great winner
I hear and I forget. I see and I remember. I do and I understand.
  • #6,986
  • Jun 22, 2011 9:27am Jun 22, 2011 9:27am
Quoting boubafx
I have problem to count the move when a bar with a higher high and the lower low occurs.

Below an example: the green bar(the third of the last up move) has, in comparison at the previous bar, a higer high and a lower low.

How must we have to count the move: one move, or three move (two impulsive and one corrective).

Thanks for your help.
Try to put everything into a bigger context of what is really happening as that often helps in making things more clear.

Remember though im not Sho and its nothing more then my own opinion and view
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  • #6,987
  • Jun 22, 2011 9:57am Jun 22, 2011 9:57am
Thanks very much storeball, great explanation. I feel you really master sho's method.
I hear and I forget. I see and I remember. I do and I understand.
  • #6,988
  • Jun 22, 2011 10:02am Jun 22, 2011 10:02am
is it a valid entry on a break of the IB?

it seems like a corection with pin bar to the 50% ret plus its an area of old resistence now acts as support,and not a change in mometum.

im not taking this trade but want to know if its a valid set up.

thank u !
  • #6,989
  • Jun 22, 2011 10:04am Jun 22, 2011 10:04am
im not sure if its me or ff...my attachments seem to disappear
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  • #6,990
  • Jun 22, 2011 11:06am Jun 22, 2011 11:06am
disregard my last post i think i recognize my mistake.

anyway,im done for today.gonna go do some homework....

thank you for very much for all the help!
  • #6,991
  • Jun 22, 2011 11:50am Jun 22, 2011 11:50am
Quoting Storeball
Try to put everything into a bigger context of what is really happening as that often helps in making things more clear.

Remember though im not Sho and its nothing more then my own opinion and view
Nice explanation,Storeball!
  • #6,992
  • Jun 22, 2011 5:16pm Jun 22, 2011 5:16pm
Just one trade today for a R 1.3 win. I am being very picky, sitting on my hands lots .
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  • #6,993
  • Jun 22, 2011 5:53pm Jun 22, 2011 5:53pm
Little EU short
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #6,994
  • Jun 22, 2011 7:49pm Jun 22, 2011 7:49pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Megara
Another A+ setup, USDCAD
-------------------
My USDCAD(short) & GBPUSD(long) have been failed.
I commited the same mistakes yesterday
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Shake it off!Lick the Wound,Prey Again!
  • #6,995
  • Jun 22, 2011 8:07pm Jun 22, 2011 8:07pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Storeball
Hey guys!

If you want an easier way to save your charts id higly recommend Jing. I use it for all my charts, very easy to save and work on anything you capture with it.

Take care all!
-----------------------
Storeball
It's been long time hearing from you!
Thank you for the recommendation. Will take a look.
--------------------
As always, your entry,exit and analysis in trades are highly impressive. Still, I have plenty to learn from you
-------------------
Al Gore's book, I've bought it for about a year and read through for the 3rd times. I must admit it is not an easy read materials. It has been sitting on my shelf collecting dust though.
I read a lot about another author's materials. It is highly recommended. Really! I repeated them for not less than 5th times,still he is my very favourite.Do you want me to tell you? Take a peep. He is ...............................here
Shake it off!Lick the Wound,Prey Again!
  • #6,996
  • Jun 22, 2011 8:36pm Jun 22, 2011 8:36pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Rufus
Little EU short
-------------------
Good Day Rufus
The down trend is still intact but I haven't got a chance to short yet. Looking for pullback and see the candles reaction.
They are landed in the demand area now so will observe a bit
Do you trade only EU?
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Shake it off!Lick the Wound,Prey Again!
  • #6,997
  • Jun 22, 2011 10:44pm Jun 22, 2011 10:44pm
Quoting Megara
-------------------
Good Day Rufus
The down trend is still intact but I haven't got a chance to short yet. Looking for pullback and see the candles reaction.
They are landed in the demand area now so will observe a bit
Do you trade only EU?

Right now it is mostly EU...When I am this busy with my construction work I try to simplify things a bit for the limited trading time I get some times
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #6,998
  • Jun 22, 2011 10:47pm Jun 22, 2011 10:47pm
EU...now we wait and see what FF and LO brings on
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #6,999
  • Jun 22, 2011 11:40pm Jun 22, 2011 11:40pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
It's nice to watch the battle between Mr.Bear and Mighty Bull.
It's heading to the next level.
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The upper grey area is my profit taking.
------------------------------------------
Target hit
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Shake it off!Lick the Wound,Prey Again!
  • #7,000
  • Jun 22, 2011 11:43pm Jun 22, 2011 11:43pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Rufus
EU...now we wait and see what FF and LO brings on
---------
Don't mind me asking what's FF & LO means?
I'm not a kiddo anyway just don't use too many abbreviation
Shake it off!Lick the Wound,Prey Again!
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