Attachments: Intraday price action trend trading

Intraday price action trend trading

#7,361
Aug 3, 2011 11:42am Aug 3, 2011 11:42am

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

Quoting Megara

Disliked

Did I see MJURBAN here? Hi!

Ignored

Oh what a nice move,Meg!

that was a long falling down with no retrace, price settled down at the demand area(lots of buyers were waiting to jump in,trapping the bears)... last bar looked unusually big (exhaustion?) .. went long on bar close with small risk. i saw this in charts in the Rob's thread(Sam Seiden's approach) ..

#7,362
Aug 3, 2011 12:51pm Aug 3, 2011 12:51pm

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

ur welcome boubafx..

i would like to talk a lit more about the aud and would appreciate any comments and additions to my charts below.

yesterday I knew that i took a CT w the aud meaning price is just retracing so i was looking to see where it might stop using fib % and most important DEMAND area..as u can see i have 2 demands area on the 4hr.
first opportunity to go long was given on the first attempt at DEMAND 1.(u would get a trigger w 15min IB)....and i believe megara took it(i was sleeping

)..
we had a second attempt to go long at DEMAND1 when price retrace back to it and again u could get in with another IB brkout.
if this demand1 is gonna hold than we can expect price to continue the momentum up towards SUPPLY level marked on 4hr.
if i like the PA leaving the demand1 area i will use the 15min chart to take long setups as sho taught us.(KC,PB,ETC..)
as of right now price respect this demand and the up TL.
BUT IF PA starts to be "shaky" than we might need to visit DEMAND2.
if and when price gets there,i will look for a long setup again.(its a big IF bc than price will brk the TL meaning we might see a change of trend so its really important to see the formation of the bars once they reach DEMAND2).

SO WHAT do U GUYS THINK?...

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#7,363
Aug 3, 2011 3:57pm Aug 3, 2011 3:57pm

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

My first trade: a lost

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

#7,364
Aug 3, 2011 3:59pm Aug 3, 2011 3:59pm

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

A BE, but not A+ setup. However a beautiful PB. Buy at ret50 of PB

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

#7,365
Aug 3, 2011 4:02pm Aug 3, 2011 4:02pm

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

I enter the first pin and was stopped. Enter again on the second PB.

The price go down, and then stalls around RN at the close of NY, so i decided to close the trade with good profit.

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

#7,366
Aug 3, 2011 10:23pm Aug 3, 2011 10:23pm

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

Asian ride

GJ and EJ. Forgot about UJ. I personally find that Asian session enter this J's pair is better than in US session bcs many news and spike up and down

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Wow look at that still running mad.. Intervention or news???

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Shake it off!Lick the Wound,Prey Again!

#7,367
Aug 3, 2011 10:29pm Aug 3, 2011 10:29pm

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

Quoting Megara

Disliked

This is A+setup with trend
----
Apologize friends if I've confused you with my posting. Will explain tomorrow

Ignored

-------------------
explanation in the chart below

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Shake it off!Lick the Wound,Prey Again!

#7,368
Aug 3, 2011 10:37pm Aug 3, 2011 10:37pm

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

So many A+setup with trend. Uncle Sho mentioned before

explanation in the chart. Take a look.

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Shake it off!Lick the Wound,Prey Again!

#7,369
Aug 3, 2011 10:52pm Aug 3, 2011 10:52pm

alireza84
| Joined Nov 2007 | Status: Trader | 34 Posts

hi megara
do you have any idea about gbp/cad?
thank

#7,370
Aug 3, 2011 11:03pm Aug 3, 2011 11:03pm

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

Quoting boubafx

Disliked

I don't understant what is this 50 and 62% RET; Is it he daily uptrend RET?

Ignored

--------------
I want to get the max profit so I trail them bar by bar
***when the trend is strong***

How would I know the trend is strong for that AUD?
1. It has break from TL
2. It has form triple top
3. It has a divergence
4. It has down momentum

I don't know where it could be heading so I pull the fib. 50% and 61% fib + look to the left you could see the demand area.
You can check daily also but I use 4H. 4H allow you to glance many days candle.

Why I took the profit at the "HERE IS 50%"?
look at the divergence.

The next thing in my mind is if one big bar form, don't get cheated again

be brave to jump in at the next candle open. It is an exhaustion. The bear is tired needed to drink some milk

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Shake it off!Lick the Wound,Prey Again!

#7,371
Aug 3, 2011 11:18pm Aug 3, 2011 11:18pm

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

Quoting elliotrader

Disliked

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...

Ignored

----------------
Perhaps I've posted many divergence???
I entered with trend and momentum also

---------------
Ha!ha!

professional????
Cool! I would like to fill my occupation with the tittle
"PROFESSIONAL TRADER"
---------
Sorry to dissappoint you. I'm a mere trader recovering the previous losses in accounts.
NOW I'm consistent trader.

All thx to Uncle Sho method

Shake it off!Lick the Wound,Prey Again!

#7,372
Aug 3, 2011 11:22pm Aug 3, 2011 11:22pm

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

Quoting elliotrader

Disliked

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...

Ignored

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When you have more confident, you can use one chart. I like 4H bcs I can have more time to make decission.
15 TF burn asshole more than make money for me

Just me.
Between clear explanation

Shake it off!Lick the Wound,Prey Again!

#7,373
Aug 3, 2011 11:41pm Aug 3, 2011 11:41pm

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

Quoting elliotrader

Disliked

ur welcome boubafx..

i would like to talk a lit more about the aud and would appreciate any comments and additions to my charts below.

yesterday I knew that i took a CT w the aud meaning price is just retracing so i was looking to see where it might stop using fib % and most important DEMAND area..as u can see i have 2 demands area on the 4hr.
first opportunity to go long was given on the first attempt at DEMAND 1.(u would get a trigger w 15min IB)....and i believe megara took it(i was sleeping)..
we had a second attempt to go long at DEMAND1...

Ignored

-----------
Ha!ha! You and Gravi can read people's mind

You're right. "MOMENTUM IS THE FATHER OF....."Uncle Sho said. But I've forget the last part....
I've B.E for the second long.
-----------

Shake it off!Lick the Wound,Prey Again!

#7,374
Aug 3, 2011 11:57pm Aug 3, 2011 11:57pm

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

O.K AUD has closed with a big momentum and look like that area doesn't want to hold.

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Shake it off!Lick the Wound,Prey Again!

#7,375
Aug 4, 2011 12:49am Aug 4, 2011 12:49am

msmarple
Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts

I am rereading this great thread, really good charts by Megara, Gravi, Boubafx and others.

I also like the extremely clear charts from Megara.

One question is still about the KC. Do you use a standard setting for all timeframes, and which is it ?

Maybe someone could be so helpful to post a template ( Megara ?

)

Hopefully I can contribute. My health doesn`t allow for scalping sessions for hours on end, so I am back to simplicity.

Good trading to all.

____________
michael

Be like water.

#7,376
Aug 4, 2011 2:25am Aug 4, 2011 2:25am

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

Quoting msmarple

Disliked

I am rereading this great thread, really good charts by Megara, Gravi, Boubafx and others.

I also like the extremely clear charts from Megara.

One question is still about the KC. Do you use a standard setting for all timeframes, and which is it ?

Maybe someone could be so helpful to post a template ( Megara ? )

Hopefully I can contribute. My health doesn`t allow for scalping sessions for hours on end, so I am back to simplicity.

Good trading to all.

____________
michael

Ignored

You can use standard value of 10 (for KC)... this method is good enough for big TF's also ( you can see charts with 4h TF here)

Cheers!

#7,377
Aug 4, 2011 2:28am Aug 4, 2011 2:28am

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

nice trades were posted here last 2 days

yesterday i had only one (nzdusd) short which was stopped out for B/E this night..

#7,378
Edited 4:15am Aug 4, 2011 3:44am | Edited 4:15am

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

AUD completed but late entry

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Shake it off!Lick the Wound,Prey Again!

#7,379
Aug 4, 2011 3:52am Aug 4, 2011 3:52am

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

Quoting msmarple

Disliked

I am rereading this great thread, really good charts by Megara, Gravi, Boubafx and others.

I also like the extremely clear charts from Megara.

One question is still about the KC. Do you use a standard setting for all timeframes, and which is it ?

Maybe someone could be so helpful to post a template ( Megara ? )

Hopefully I can contribute. My health doesn`t allow for scalping sessions for hours on end, so I am back to simplicity.

Good trading to all.
-----------
____________
michael

Ignored