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Intraday price action trend trading

  • #7,041
  • Jun 25, 2011 5:25am Jun 25, 2011 5:25am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Looking back at this trade, I must admit I have entered this emotionly.
The 1st short was good and profit taking was before the near demand and round no.

However, the sudden rise caused me "GREED" This is sure will empty my account if another time happen. How do you handle this?
For the 2nd entry, long, I did a quick scalp but is dangerous.

I see clearly the resistant was above and the gushing of wave. Is it true when the wave has calm down, supply orders are waiting at the top to continue the original move, in this case is downside?

Thank you for your time,advice,opinions.........
Rest well and have a nice weekend!
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  • #7,042
  • Jun 25, 2011 5:43am Jun 25, 2011 5:43am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting elliotrader
my first successful wedge triangle brkout..

if u guys think i did something wrong pls tell me.
stop loss was at the upper yellow line(abouve the PB)
target was at the bottom yellow line.

target was met.

on to the next one.
------------------------------------------
It's sure a win trade for you
But for me it is quite near support and they are ranging not the Breakout play for me.See the close of your entry. It is a high leg doji, meaning undecide.
Shake it off!Lick the Wound,Prey Again!
  • #7,043
  • Jun 25, 2011 8:59am Jun 25, 2011 8:59am
thank you guys !
i totally agree with ur comments..
im happy u pointed it out for me so i will be aware of it next time...

have a great weekend guys!!
  • #7,044
  • Jun 26, 2011 8:25pm Jun 26, 2011 8:25pm
Quoting Megara
Looking back at this trade, I must admit I have entered this emotionly.
The 1st short was good and profit taking was before the near demand and round no.

However, the sudden rise caused me "GREED" This is sure will empty my account if another time happen. How do you handle this?
For the 2nd entry, long, I did a quick scalp but is dangerous.

I see clearly the resistant was above and the gushing of wave. Is it true when the wave has calm down, supply orders are waiting at the top to continue the original move, in this case is downside?

Thank...
There are lots of orders placed at the 50 and 61% level of the latest swings , so if you looking to go long or short and your getting close to the 61 or 50 of the latest swing I would be very careful. I hope this answer helps you.
  • #7,045
  • Jun 27, 2011 1:22am Jun 27, 2011 1:22am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Completed 4 trades on GU,15min.
Trade no.3 stop out but reenter
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  • #7,046
  • Jun 27, 2011 1:30am Jun 27, 2011 1:30am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting jj7000
There are lots of orders placed at the 50 and 61% level of the latest swings , so if you looking to go long or short and your getting close to the 61 or 50 of the latest swing I would be very careful. I hope this answer helps you.
--------------------

Thanks JJ, I understand and will nail into my skull.
-----------
This time,I will complete my trades before posting...afraid got nab again....some shadow around here
Shake it off!Lick the Wound,Prey Again!
  • #7,047
  • Jun 27, 2011 1:47am Jun 27, 2011 1:47am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
5th trade.
Sho, did I make you proud? I listen to you very well
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  • #7,048
  • Jun 27, 2011 2:15am Jun 27, 2011 2:15am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
6th trade. Completed
Actually want more at the black thick line before r/n....control my greed first
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  • #7,049
  • Jun 27, 2011 4:03am Jun 27, 2011 4:03am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
7th trade. Stop out
8th trade. Form higher low so no short but long
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  • #7,050
  • Jun 27, 2011 4:19am Jun 27, 2011 4:19am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Trade 8th closed with nice profit though the dotted red line really look good for target.
O.K Rule is rule. Followed.
That's all for today's GU trades
Happy pipping!
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  • #7,051
  • Jun 27, 2011 6:17am Jun 27, 2011 6:17am
Quoting Megara
7th trade. Stop out
8th trade. Form higher low so no short but long
Hi Megara! You are doing great!! )

your last trade was with profit but did you noticed that 2 bearish momentun bars
? or you just were looking forward for TL rejection for going long?
that was also the opportunity to trade the double ib breakout(wedge also).. not too risky play
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  • #7,052
  • Edited 9:52am Jun 27, 2011 7:00am | Edited 9:52am
good morning!!
i got a Q about this 4hr chart of gbpusd.

is this a valid short entry?
(i know it has like 2 more hrs before the bar closes but lets just assume thats this is how the bar will look when it closes)

if it is a valid entry what will be a good target?last support marked with yellow line?
thx for any input!

p.s
nice job meg!!!!i guess some people sleep while others make money...

would of gotten stopped out as price went above the pin bar.
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  • #7,053
  • Jun 27, 2011 9:42am Jun 27, 2011 9:42am
was there anything wrong with my entries?
first trade got stoped out
re-enterd on the second PB than moved my stop to BE and got stopped out ...

I JUST WANT TO KNOW IF MY ENTRIES WERE OK im not bothered that i didn't make money...

thank you!
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  • #7,054
  • Jun 27, 2011 10:22am Jun 27, 2011 10:22am
Quoting elliotrader
good morning!!
i got a Q about this 4hr chart of gbpusd.

is this a valid short entry?
(i know it has like 2 more hrs before the bar closes but lets just assume thats this is how the bar will look when it closes)

if it is a valid entry what will be a good target?last support marked with yellow line?
thx for any input!

p.s
nice job meg!!!!i guess some people sleep while others make money...

would of gotten stopped out as price went above the pin bar.

I would be sceptical of shorts here do to 4h demand zone... I see your thinking. When I see pin bars and etc. It is also important where they occur on the chart.


Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #7,055
  • Jun 27, 2011 10:24am Jun 27, 2011 10:24am
Quoting elliotrader
was there anything wrong with my entries?
first trade got stoped out
re-enterd on the second PB than moved my stop to BE and got stopped out ...

I JUST WANT TO KNOW IF MY ENTRIES WERE OK im not bothered that i didn't make money...

thank you!
I am not sure of what pair this is
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #7,056
  • Jun 27, 2011 10:33am Jun 27, 2011 10:33am
thx rufus!

i got ur point about the 4 hr chart-thank you.

and the other chart was the jpyusd . was the set up ok?
  • #7,057
  • Jun 27, 2011 10:50am Jun 27, 2011 10:50am
Quoting elliotrader
thx rufus!

i got ur point about the 4 hr chart-thank you.

and the other chart was the jpyusd . was the set up ok?
You trade this pair with the opposite chart I do so it through me for a loop.

Just get into the habit of looking left to see what has happened in the past at the level you are entering.

This is 1hr chart. Also we are seeing a little dollar strength in the other pairs right now.


Rufus
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  • #7,058
  • Jun 27, 2011 11:34am Jun 27, 2011 11:34am
got it.
thanks for ur time!
  • #7,059
  • Jun 27, 2011 8:04pm Jun 27, 2011 8:04pm
2 trades on AUD/USD. First a loss, second a winner.
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  • #7,060
  • Jun 27, 2011 8:17pm Jun 27, 2011 8:17pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Gravi
Hi Megara! You are doing great!! )

your last trade was with profit but did you noticed that 2 bearish momentun bars?
Yes, and I got stop out when approach at the mini support to go long.
or you just were looking forward for TL rejection for going long?
Not only that.

that was also the opportunity to trade the double ib breakout(wedge also).. not too risky play
Like the white flag I drew...
------------------------
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