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Intraday price action trend trading

  • #7,341
  • Edited 11:09am Aug 2, 2011 9:09am | Edited 11:09am
My first trade is a loser
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,342
  • Aug 2, 2011 9:20am Aug 2, 2011 9:20am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Got stop but reenter at the same spot
--------------
now look quite a selling pressure
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Shake it off!Lick the Wound,Prey Again!
  • #7,343
  • Aug 2, 2011 10:02am Aug 2, 2011 10:02am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I have enough today. C'mon post your trades Otherwise look like my trading journal
Shake it off!Lick the Wound,Prey Again!
  • #7,344
  • Aug 2, 2011 10:06am Aug 2, 2011 10:06am
hi meg!
would u be interested in going short on the usdcad thx to the divergence on h4 ?

i tried a long(bc i do futures and its inverted to ur chart) but im not feeling to comftrable. i am not gonna change any of my orders since im in the trade already but would love to move it to BE if i will have the chance.

any thoughts?
  • #7,345
  • Edited 11:35am Aug 2, 2011 10:09am | Edited 11:35am
My second trade: the price stalls, i closed the order at BE
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,346
  • Aug 2, 2011 10:55am Aug 2, 2011 10:55am
Quoting elliotrader
hi meg!
would u be interested in going short on the usdcad thx to the divergence on h4 ?

i tried a long(bc i do futures and its inverted to ur chart) but im not feeling to comftrable. i am not gonna change any of my orders since im in the trade already but would love to move it to BE if i will have the chance.

any thoughts?
ughhh.....almost saw my SL hit..BUT than price reversed and started to go my way...moved my SL to BE.
i might moved it to soon but i rather have it as a free trade due to the fact that im not too happy w the PA.
will see...
  • #7,347
  • Edited 2:13pm Aug 2, 2011 11:32am | Edited 2:13pm
A Be on this A+ setup: price stalls after 3 bars, i closed the trade
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,348
  • Edited 1:07pm Aug 2, 2011 12:16pm | Edited 1:07pm
4 trades today: 1 lost, 1 win, two BE
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,349
  • Aug 2, 2011 8:25pm Aug 2, 2011 8:25pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting elliotrader
hi meg!
would u be interested in going short on the usdcad thx to the divergence on h4 ?

i tried a long(bc i do futures and its inverted to ur chart) but im not feeling to comftrable. i am not gonna change any of my orders since im in the trade already but would love to move it to BE if i will have the chance.

any thoughts?
------------------------------
See the chart. Can you see the difference? I play the divergence as part of my setup. The pattern repeat itself again and again. Take time to see. You will see it on your chart.
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Aud still going down after TP but happy to take my sure profit.
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CAD almost hit my SL yesterday so I let it hit my SL if he dare to touch bcs the trade is a free trade+little pips. Guess what?? It didn't! Ho!Ho!Ho! A surprise after wake up.
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Shake it off!Lick the Wound,Prey Again!
  • #7,350
  • Aug 2, 2011 8:47pm Aug 2, 2011 8:47pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting Gravi
our charts look a bit different..
there was an opportunity to short but i missed..
-----------
I've tried one buy and one sell order. Both also hit my SL. How nice
Shake it off!Lick the Wound,Prey Again!
  • #7,351
  • Aug 2, 2011 9:01pm Aug 2, 2011 9:01pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Did I see MJURBAN here? Hi!
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Shake it off!Lick the Wound,Prey Again!
  • #7,352
  • Aug 3, 2011 5:06am Aug 3, 2011 5:06am
Quoting Megara
------------------------------
See the chart. Can you see the difference? I play the divergence as part of my setup. The pattern repeat itself again and again. Take time to see. You will see it on your chart.
----------
Aud still going down after TP but happy to take my sure profit.
----------
CAD almost hit my SL yesterday so I let it hit my SL if he dare to touch bcs the trade is a free trade+little pips. Guess what?? It didn't! Ho!Ho!Ho! A surprise after wake up.
I don't understant what is this 50 and 62% RET; Is it he daily uptrend RET?
Attached Image
I hear and I forget. I see and I remember. I do and I understand.
  • #7,353
  • Aug 3, 2011 7:02am Aug 3, 2011 7:02am
hi meg!!
thx for ur explanation.
im very happy to find that i didn't do so bad after all.
i took the aud trade but closed it way to early but for a very nice quick profit so no complains,and my cad trade ended up to get stopped at BE bc i moved my SL too early bc i didn't like the PA and preferred to have it as a free trade.

i didnt wake up today for the london session so i hope NY will present some good trading opportunities.

and bobaufx the RET is of the last swing ,i believe from july 18-july 28...
if u look at the daily chart u will see it clearly.
  • #7,354
  • Aug 3, 2011 7:09am Aug 3, 2011 7:09am
Quoting elliotrader
hi meg!!

and bobaufx the RET is of the last swing ,i believe from july 18-july 28...
if u look at the daily chart u will see it clearly.
It's exactly what i thought, but i wanyed to be sure.

So the idea of meg, is to wait a divergence+PA (on H4) on these (daily)RET50 or RET62 in order to take the reversal on H4 (a long trade), isn't it?
I hear and I forget. I see and I remember. I do and I understand.
  • #7,355
  • Aug 3, 2011 7:21am Aug 3, 2011 7:21am
the idea is to spot a divergence on H4 and than find a confirmation with PA to take the CT trade.(u can go to lower time frame like 15 min to look for a trigger). once you are in the trade u can set ur TP at those level of RET- the 50% and 62% since the market might stop there and resume his original trend.
(do not forget we took a COUNTER TREND trade).

thats just my 2 cents....
meg is the professional experienced one...
  • #7,356
  • Aug 3, 2011 7:48am Aug 3, 2011 7:48am
Quoting elliotrader
the idea is to spot a divergence on H4 and than find a confirmation with PA to take the CT trade.(u can go to lower time frame like 15 min to look for a trigger). once you are in the trade u can set ur TP at those level of RET- the 50% and 62% since the market might stop there and resume his original trend.
(do not forget we took a COUNTER TREND trade).

thats just my 2 cents....
meg is the professional experienced one...

Ok, but i really prefer trend trade

i supposed CT needs a big good feeling of the market, because very riskly i find.
I hear and I forget. I see and I remember. I do and I understand.
  • #7,357
  • Aug 3, 2011 8:07am Aug 3, 2011 8:07am
boubafx thats for u..

1-on the 4h chart u can see the divergence
2-go to lower time frame(i use 15 min) to try find a signal and entry bar
3-i took the short on the brk of the IB
4-u can either scalp just for few pips by setting ur TP at the next support u have on the 15 min chart or u can play for a deeper CT move(deeper ret) meaning not just scalping so u will set ur targets at the 50-62% RET as shown at the 4 hr chart bc market usually respect this levels IF it wants to continue its original trend(in this case is up).

now, u can see that price is around the 61% and u can also draw a TL on the daily and u will notice that the market stopped right on it, so u want to see if the market finished the RET and gonna resume its up trend.
(if i was still in the short i will tighten my stop as the market might resume its original trend or it might continue to fall and make me more $$$ )


i hope it helps making this idea clearer..
and i hope meg is ok w my explanation..
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  • #7,358
  • Edited 8:34am Aug 3, 2011 8:14am | Edited 8:34am
Ok, thanks Elliot for this complete and great explanation

Big run for this trade, congratulations
I hear and I forget. I see and I remember. I do and I understand.
  • #7,359
  • Aug 3, 2011 9:22am Aug 3, 2011 9:22am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
This is A+setup with trend
----
Apologize friends if I've confused you with my posting. Will explain tomorrow
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Click to Enlarge Name: CAD 6.png Size: 50 KB
Shake it off!Lick the Wound,Prey Again!
  • #7,360
  • Aug 3, 2011 9:32am Aug 3, 2011 9:32am
Quoting Megara
This is A+setup with trend
----
Apologize friends if I've confused you with my posting. Will explain tomorrow
Yeah Meg, i prefer that kind of setup. More simple and reliable for a ForexBaby as me.

A+ setup is like a rattle toy for me, i love to play with
I hear and I forget. I see and I remember. I do and I understand.
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