Attachments: Intraday price action trend trading

Intraday price action trend trading

#7,201
Jul 20, 2011 5:42am Jul 20, 2011 5:42am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Quoting Megara

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Boubafx
I do my best to master each setup so happen counter trend is I always see.

Ignored

Yeah, good and great great explanations Meg, i soon said that yesterday: you are the master of CT trade

.

You're right for the first CT play. I knew there is no PPZ when this PB is formed. But The PB was so beautiful, and the divergence so pretty, that i fall in love of them, obliged to take the short

Thanks very much to take the time for your analysis, it's very instructive for me and certainly the others.

I hear and I forget. I see and I remember. I do and I understand.

#7,202
Jul 20, 2011 5:53am Jul 20, 2011 5:53am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Quoting Megara

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Another thing I see. I hope you see too

Ignored

Why i saw hidden divergence on this chart , maybe i'm wrong

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I hear and I forget. I see and I remember. I do and I understand.

#7,203
Jul 20, 2011 6:02am Jul 20, 2011 6:02am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Quoting Megara

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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
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I got many pips today with 1 trade B.E

Ignored

I guess that your R:R for CT is near 1:1 and a little less, isn't it?

I hear and I forget. I see and I remember. I do and I understand.

#7,204
Jul 20, 2011 7:41am Jul 20, 2011 7:41am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Good PB with trend, i missed it

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I hear and I forget. I see and I remember. I do and I understand.

#7,205
Jul 20, 2011 8:14am Jul 20, 2011 8:14am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

It would have been a bad idea to take that PB!!!

I haven't taker it because i take this kind of PB the bar after at 50% RET, but in this case, the PB was first broken, then RET to 50.

I doesn't take the retrace when PB is broken first, because most of the time the PB fails

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I hear and I forget. I see and I remember. I do and I understand.

#7,206
Jul 20, 2011 8:26am Jul 20, 2011 8:26am

elliotrader
| Joined Jun 2011 | Status: Trader | 344 Posts

hi bobafx!

since i trade futures my chart is inverted to urs.(i trade the cadusd).
i spotted the same set up as you but ended up taking a CT trade.
see my chart.
took half profit on the first purple line,moved my stop to BE and waiting to take profit again on the second purple line.
(i assume if you were taking the one u were showing it wouldnt be a winner so maybe its good u missed it..lol)

megara i want to thank you a lot for ur posts!!! i am becoming much better with this method by watching ur trades and ur explanations.very kind of you.
i used to keep sho's posts on my computer but since he is not here anymore i opened a folder with ur name on it

...thx again for ur kindness!!!all the best!
(p.s-would you have taken the trade im posting below?)

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#7,207
Jul 20, 2011 8:30am Jul 20, 2011 8:30am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

I would have know what do you think about this PB my post just below, because for me it was very good setup.

Good down trend M15, H1 and H4, then a corrective move with this pretty PB on last resistant.

No divergence in downtrend, and no long term or short term support under.

The IB was broken to the upside, and then failed and product this good PB, another sign (for me!!) to short(failed of IB break)

It was perfect for me.

What do you think?

I hear and I forget. I see and I remember. I do and I understand.

#7,208
Jul 20, 2011 8:33am Jul 20, 2011 8:33am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Quoting elliotrader

Disliked

hi bobafx!

since i trade futures my chart is inverted to urs.(i trade the cadusd).
i spotted the same set up as you but ended up taking a CT trade.
see my chart.
took half profit on the first purple line,moved my stop to BE and waiting to take profit again on the second purple line.
(i assume if you were taking the one u were showing it wouldnt be a winner so maybe its good u missed it..lol)

megara i want to thank you a lot for ur posts!!! i am becoming much better with this method by watching ur trades and ur explanations.very kind of you.
i...

Ignored

good reaction to trade the opposit, and it is a winner. But i personaly wouldn't able to take the opposite with such arguments to short

Congratulations

I hear and I forget. I see and I remember. I do and I understand.

#7,209
Jul 20, 2011 8:48am Jul 20, 2011 8:48am

elliotrader
| Joined Jun 2011 | Status: Trader | 344 Posts

i agree with ur thought process as i was thinking the same.i wanted to take a trade with the trend so when i soptted that PB that formed(the one u are talking about) i thought to place a long order(a short for you) but since the wick was big and required a big stop i passed on taking the trade.BUT than i saw the other PB and price was not making new highs and decided to take the CT trade.

ended up +15.

can someone pls explain to me how to add a post of someone else when writing my post?for example,adding bobafx post #7208 to my post here ?

#7,210
Jul 20, 2011 8:51am Jul 20, 2011 8:51am

boubafx
| Joined May 2011 | Status: Momentum exceeds everything | 820 Posts

Quoting elliotrader

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i agree with ur thought process as i was thinking the same.i wanted to take a trade with the trend so when i soptted that PB that formed(the one u are talking about) i thought to place a long order(a short for you) but since the wick was big and required a big stop i passed on taking the trade.BUT than i saw the other PB and price was not making new highs and decided to take the CT trade.

ended up +15.

can someone pls explain to me how to add a post of someone else when writing my post?for example,adding bobafx post #7208 to my post here ?

Ignored

Ok, i understand better your CT then.

click on "quote" on the bottom lright of the message you want to answer. Try, it's simpliest than trading forex

I hear and I forget. I see and I remember. I do and I understand.

#7,211
Jul 20, 2011 11:18am Jul 20, 2011 11:18am

Gravi
| Joined Aug 2010 | Status: Pipaholic | 453 Posts

Quoting Megara

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Gravi
my entry for GU
I have to explain propperly. Give me little time,friend. I'm working now

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that was the support area, as the price made deep dive into this area then rebound it has become "wider" (i have pointed it in the pic i attached )... so when u decided to short it the price was in the support area.. you didnt wait for any confirmation from PA (ib's,pins e.t.c).. hmm

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#7,212
Jul 20, 2011 11:28am Jul 20, 2011 11:28am

Gravi
| Joined Aug 2010 | Status: Pipaholic | 453 Posts

Hey Meg! CCI is pretty cool tool for diver spotting

it's pretty cool to catch retracements (pullbacks) when trending up/down with risk/reward ratio 1 -to- 1...

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#7,213
Jul 20, 2011 2:42pm Jul 20, 2011 2:42pm

elliotrader
| Joined Jun 2011 | Status: Trader | 344 Posts

Quoting Megara

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I don't anything about future. Learning forex is already like a pile of mountain for me.

Ignored

i would like to share my corn trade that i posted yesterday.
i was looking to see PA at the opening since price closed yesterday on daily uptrend.
if brks down in an impolsive manner than i will join the shorts OR if we find support i will wait for a break above the yellow line resistence before i go long.
that was my thoughts process coming into the day and below i will post my trade from today.

#7,214
Jul 20, 2011 2:42pm Jul 20, 2011 2:42pm

elliotrader
| Joined Jun 2011 | Status: Trader | 344 Posts

the day started with price moving down but it was PB at support so i had to wait for more PA.i missed the trade marked by yellow arrow-pin bar at support that turned resistence bc i was having my lunch brk but there was also divergence so who knows if i would of taken it anyway.

after 2 more PB at resistance i shorted at close of second pb.
i trailed the stop to 1 point above my entry and market came close as 1 tick to hit my stop and it turned back down.(i was in shock-it usually takes me out and than goes my way...lol)..
there was another entry(shown with red arrow number 2) it was a brk of IB and also bear flag .(i didnt add to my position tho)

now,this trade is still open.
not bc i wanted to but bc i was distracted and the market closed before i had a chance to take my profit.im super upset with myself that i let it happened !!!
now i will have to watch it at 7 est when it re-opens and close it.
its a big no-no to me for not paying more attention.!!

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#7,215
Jul 20, 2011 2:49pm Jul 20, 2011 2:49pm

elliotrader
| Joined Jun 2011 | Status: Trader | 344 Posts

#7,216
Jul 20, 2011 3:19pm Jul 20, 2011 3:19pm

elliotrader
| Joined Jun 2011 | Status: Trader | 344 Posts

one bad trade i had today on jpyusd....-5 pips

i bought at resistence so i get what i deserve.i was hoping for a second break out but hoping is NOT part of trading!!!looking back at it i should of notice this was a pb and green bar was exhaustion move into resistance area.

my head wasn't all here today and im pissed at myself for not backing away from the computer!!
anyway,i learned my lesson,will shake it off and come prepare tomorrow.
actually at 7pm today thx to my corn trade.

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#7,217
Jul 21, 2011 1:52am Jul 21, 2011 1:52am

Megara
| Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts

Quoting Gravi

Disliked

that was the support area, as the price made deep dive into this area then rebound it has become "wider" (i have pointed it in the pic i attached )... so when u decided to short it the price was in the support area.. you didnt wait for any confirmation from PA (ib's,pins e.t.c).. hmm

Ignored

------------------
This is not the best entry. My mistake. Thanks friend

Shake it off!Lick the Wound,Prey Again!

#7,218
Jul 21, 2011 2:43am Jul 21, 2011 2:43am

Megara
| Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts

Quoting elliotrader

Disliked

hi bobafx!

since i trade futures my chart is inverted to urs.(i trade the cadusd).
i spotted the same set up as you but ended up taking a CT trade.
see my chart.
took half profit on the first purple line,moved my stop to BE and waiting to take profit again on the second purple line.
(i assume if you were taking the one u were showing it wouldnt be a winner so maybe its good u missed it..lol)

megara i want to thank you a lot for ur posts!!! i am becoming much better with this method by watching ur trades and ur explanations.very kind of you.
i...

Ignored

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Uncle Sho is still here. Is just that he is in Invisible Mode and watching us. He is the true professional trader and I learn from his posts and videos.
Should thanks him dearly.