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Intraday price action trend trading

  • #7,101
  • Jul 3, 2011 10:28pm Jul 3, 2011 10:28pm
Quoting SunTrader
If you mean 2nd red bar from the left in each diagram, then yes.

My point, which I should have mentioned, was regarding your post from the other day (July 1st) where another PinBar made you cover short trade prematurely. That wasn't a Pin since the bar after went lower as well.
Oh yes, thank you!!! Would you have lowered your stop to just above the potential pin bar when it closed?
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  • #7,102
  • Jul 3, 2011 10:56pm Jul 3, 2011 10:56pm
Quoting Zoomie
Oh yes, thank you!!! Would you have lowered your stop to just above the potential pin bar when it closed?
I really don't use PinBars that often since most times a wider than usual stop is required. But if I had entered when you did I would have had my stop just above the high of the initial "genuine" Pin and kept it there for at least 2 or 3 new bars of price action.

I first trail my (short) trades with a stop above a 3 bar high - excluding inside bars, then depending on how the trade is going tighten to a 1 bar high.
  • #7,103
  • Jul 3, 2011 11:03pm Jul 3, 2011 11:03pm
Quoting SunTrader
I really don't use PinBars that often since most times a wider than usual stop is required. But if I had entered when you did I would have had my stop just above the high of the initial "genuine" Pin and kept it there for at least 2 or 3 new bars of price action.

I first trail my (short) trades with a stop above a 3 bar high - excluding inside bars, then depending on how the trade is going tighten to a 1 bar high.
Thanks!!!
  • #7,104
  • Jul 3, 2011 11:58pm Jul 3, 2011 11:58pm
Pound Sterling breaking out. Will wait for pullback. Lots of action this morning.
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  • #7,105
  • Jul 4, 2011 9:21am Jul 4, 2011 9:21am
I just saw this message from Oanda. I am not a happy camper.

IMPORTANT NOTICE: Effective July 15, by law we must reduce leverage for gold and silver to 1:1. If you trade metals, please take action now to avoid margin calls.
  • #7,106
  • Jul 7, 2011 10:25am Jul 7, 2011 10:25am
Got out on quick push up for R 0.9 gain.
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  • #7,107
  • Jul 8, 2011 4:27am Jul 8, 2011 4:27am
Beautiful A+ setup

Let's see
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,108
  • Jul 8, 2011 4:58am Jul 8, 2011 4:58am
TP
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,109
  • Jul 8, 2011 3:10pm Jul 8, 2011 3:10pm
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 know I am a little bit late responding to this post, but the first bar is not a pin bar (PB). It's open and close were not within the open and close of the previous bar. You gotta be careful about the definition of what a pin bar is.

I think the second one was a beautiful PB, I think you might have moved your stop a little bit too soon. However, you didn't lose anything on that one.

Cheers
  • #7,110
  • Jul 11, 2011 12:00am Jul 11, 2011 12:00am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting boubafx
TP
---------
Nice play boubaxfx! It was retraced fib 61.8%
---------
Here is mine 3 trades.
Oh my! The 1st trade after 1st momentum and reenter I babysit for 3 bar and closed out with few profit.
The 2nd & 3rd were good.
------------
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Shake it off!Lick the Wound,Prey Again!
  • #7,111
  • Jul 11, 2011 2:47am Jul 11, 2011 2:47am
Quoting Megara
---------
Nice play boubaxfx! It was retraced fib 61.8%
---------
Here is mine 3 trades.
Oh my! The 1st trade after 1st momentum and reenter I babysit for 3 bar and closed out with few profit.
The 2nd & 3rd were good.
------------

Yeah meg, good profits on the two last trade.

Could you tell me please how you have the small daily and H4 charts at the right of your M15 charts? it's a very good tool

Thanks
I hear and I forget. I see and I remember. I do and I understand.
  • #7,112
  • Jul 11, 2011 2:48am Jul 11, 2011 2:48am
Quoting Megara
Next completed trade EURCHF
very classic entry but take profit didn't hold long as div is formed
I love this kind of entry, it's my favorite
I hear and I forget. I see and I remember. I do and I understand.
  • #7,113
  • Jul 11, 2011 2:50am Jul 11, 2011 2:50am
Quoting Megara
Enter counter trend this EURCHF & EURUSD pair for quick profit
I don't see where is your entry and your TP on the EURCHF trade
I hear and I forget. I see and I remember. I do and I understand.
  • #7,114
  • Jul 11, 2011 2:53am Jul 11, 2011 2:53am
Quoting Megara
I did it! I found a secret of div now
Meg, i' see that you feel the market better and better. It's the result of very big screentime i suppose
I hear and I forget. I see and I remember. I do and I understand.
  • #7,115
  • Jul 11, 2011 3:49am Jul 11, 2011 3:49am
Quoting Megara
------------
7 to 8 month of 24/7
and many trials errors
---------
boubafx
you mean big screentime is refering to higher timeframe when entering trade or ?
No i mean experience
I hear and I forget. I see and I remember. I do and I understand.
  • #7,116
  • Jul 11, 2011 3:50am Jul 11, 2011 3:50am
Quoting Megara
Here
Big big thanks for this very useful tools Meg

I'm sure i would have it on my charts for ever
I hear and I forget. I see and I remember. I do and I understand.
  • #7,117
  • Jul 11, 2011 3:56am Jul 11, 2011 3:56am
Quoting Megara
----------
It is a counter trend for quick profit (play at own risk)
Ok i see where you enter and go out, but i don't understand why you took this trade.

Big red momentum, it's was very very riskly, no? Low probability trade, no? (less than 50% i suppose? )

Could you please explain your analysis, it's interesting me

Thanks
I hear and I forget. I see and I remember. I do and I understand.
  • #7,118
  • Jul 11, 2011 8:54am Jul 11, 2011 8:54am
Let's see
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,119
  • Jul 11, 2011 9:48am Jul 11, 2011 9:48am
Price stalls after 3 bars, i close the trade with little loss
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,120
  • Jul 13, 2011 7:35am Jul 13, 2011 7:35am
Hey guys,been so long since i posted here..thought i show you what gift our Master Sho has given us!

I am still a student of this method but works on all timeframe..
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