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Intraday price action trend trading

  • #7,181
  • Jul 19, 2011 1:45pm Jul 19, 2011 1:45pm
Quoting Gravi
i can't see any hidden div. at your chart...

it looks like bearish flag failure with solid bullish momentum forming... it would be better to wait for PA confirmation to go long...
The hidden div is this i trace on RSi. The two high close are similar but the RSI is up, confirm bearish pression, so i shorted
Attached Image
I hear and I forget. I see and I remember. I do and I understand.
  • #7,182
  • Jul 19, 2011 1:53pm Jul 19, 2011 1:53pm
I would never qualify such an insignificant peak as that to bear any sort of divergence whatsoever. What you SHOULD be looking for are distinct peaks and VERY clear divergence, such as this 10M chart of the pound today. The idea is to note the divergence, and then trade an S/R or trendline break for confirmation.
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There's always money in the banana stand.
  • #7,183
  • Jul 19, 2011 1:54pm Jul 19, 2011 1:54pm
Quoting Gravi
Hi!

look at the picture.. do you see 3 pushes down (impulsive moves, blue lines)?.. it could be the possible trend reverse when 3 impulsive moves completed ( elliot 1-2-3-4-5 then corrective a-b-c).. also that big bearish bar in 3d impulsive looks like exhaustion...
Thanks Gravi.

So the elliot wave was another argument to avoid to short.
I hear and I forget. I see and I remember. I do and I understand.
  • #7,184
  • Jul 19, 2011 2:50pm Jul 19, 2011 2:50pm
Another CT setup, beautiful PB with div
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,185
  • Jul 19, 2011 2:56pm Jul 19, 2011 2:56pm
Quoting LizardGizzard
I would never qualify such an insignificant peak as that to bear any sort of divergence whatsoever. What you SHOULD be looking for are distinct peaks and VERY clear divergence, such as this 10M chart of the pound today. The idea is to note the divergence, and then trade an S/R or trendline break for confirmation.

Effectively, the div is very clear on your picture.

Thanks for your comment
I hear and I forget. I see and I remember. I do and I understand.
  • #7,186
  • Jul 19, 2011 4:25pm Jul 19, 2011 4:25pm
Wonderful A++ setup as i love it; It is today, but i missed it.

Only take this kind of setup and we will become as rich as Bill Gates !!!!!!!!!!!!!!
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,187
  • Jul 19, 2011 9:02pm Jul 19, 2011 9:02pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Good day
CounterTrend
IB breakout
ride impulsive wave
with trend pin bar
triangle/wedge breakout
I have those pictures sticking on my wall.
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Shake it off!Lick the Wound,Prey Again!
  • #7,188
  • Jul 19, 2011 9:11pm Jul 19, 2011 9:11pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Boubafx
I do my best to master each setup so happen counter trend is I always see.
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Shake it off!Lick the Wound,Prey Again!
  • #7,189
  • Jul 19, 2011 9:16pm Jul 19, 2011 9:16pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Another thing I see. I hope you see too
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Shake it off!Lick the Wound,Prey Again!
  • #7,190
  • Jul 19, 2011 9:42pm Jul 19, 2011 9:42pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I don't anything about future. Learning forex is already like a pile of mountain for me.
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Shake it off!Lick the Wound,Prey Again!
  • #7,191
  • Edited 3:50am Jul 20, 2011 2:52am | Edited 3:50am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Completed short GU and divergence is forming.Wait for confirmation and proof it doesn't going down further before long
---------
3rd and 4th image is my completed long
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Shake it off!Lick the Wound,Prey Again!
  • #7,192
  • Jul 20, 2011 2:56am Jul 20, 2011 2:56am
Quoting Megara
Boubafx
I do my best to master each setup so happen counter trend is I always see.
it could be 2 entries possible- sell or buy... double ib was formed and price could move north or south.. for the case of the fakeout as 1 order executed another would be the reverse stop order...
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  • #7,193
  • Edited 3:42am Jul 20, 2011 3:05am | Edited 3:42am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
EJ
-----
update: breakeven
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Shake it off!Lick the Wound,Prey Again!
  • #7,194
  • Edited 3:54am Jul 20, 2011 3:06am | Edited 3:54am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
EU completed long
And divergence sighted. Wait for confirmation before short
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Shake it off!Lick the Wound,Prey Again!
  • #7,195
  • Jul 20, 2011 3:21am Jul 20, 2011 3:21am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Gravi
it could be 2 entries possible- sell or buy... double ib was formed and price could move north or south.. for the case of the fakeout as 1 order executed another would be the reverse stop order...
-----------
You're right! In this case is break out to downside
Shake it off!Lick the Wound,Prey Again!
  • #7,196
  • Jul 20, 2011 4:34am Jul 20, 2011 4:34am
Quoting Megara
Completed short GU and divergence is forming.Wait for confirmation and proof it doesn't going down further before long
---------
3rd and 4th image is my completed long
heh! you're doing well!!
i took GU short on H4 TF ( double ib breakout to downside) ,it went in my direction for 30 pips then i 've trailed SL to BE...
closed for BE
  • #7,197
  • Edited 5:14am Jul 20, 2011 4:48am | Edited 5:14am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I done a few CT today. CT is one of the setup I learnt from Sho. He also mentioned that divergence it is slow down of current trend and not necessary trend reverse. That's means when I enter short EU for example, my aim of take profit is near the next support. Hope you understand
-----------
I got many pips today with 1 trade B.E
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Shake it off!Lick the Wound,Prey Again!
  • #7,198
  • Jul 20, 2011 5:07am Jul 20, 2011 5:07am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Gravi
heh! you're doing well!!
i took GU short on H4 TF ( double ib breakout to downside) ,it went in my direction for 30 pips then i 've trailed SL to BE...
closed for BE
------
I take your pips for going long just now
Shake it off!Lick the Wound,Prey Again!
  • #7,199
  • Jul 20, 2011 5:16am Jul 20, 2011 5:16am
how did you manage to sell right at the support (tested multiple times before) without PA confirmation?? may be you noticed that failed bullish pin and solid bear bar? ( the previous PA was slow, no speed at all comparing to these 2 last bars)... very agressive
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  • #7,200
  • Jul 20, 2011 5:25am Jul 20, 2011 5:25am
I just reread the book of Dr Elder " Trading for a living", i bought two or three years ago, and i love the sentence wich is in introduction


"You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. This is life of a successful trader. "

Very great emotions when you started the book and you read that, it's fantastic
I hear and I forget. I see and I remember. I do and I understand.
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