Shake it off!Lick the Wound,Prey Again!
Intraday price action trend trading
- #7,742
- Aug 23, 2011 12:44am Aug 23, 2011 12:44am
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thanks for asking friend.....GU entry (game analysis)
refer to the attachment
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- #7,743
- Aug 23, 2011 12:53am Aug 23, 2011 12:53am
Yeah.. i saw it before(your analysis) but there's another bar closed already in the chart you would enter short (next bar after engulfing(outside) bar) so you couldn't go short on close of OB... maybe you could wait for the retracement and short at level of OB closing? but SL size would be still very big(nore than 100 pips )
If you see OB, you'll wait for retracement...O.k got it otherwise SL look big.
For the next training chart, I will zoom in a bit. It look kind of small to me....Ha!ha!ha! thx for saving my ass....
Shake it off!Lick the Wound,Prey Again!
- #7,744
- Aug 23, 2011 12:55am Aug 23, 2011 12:55am
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If you see OB, you'll wait for retracement...O.k got it otherwise SL look big.
For the next training chart, I will zoom in a bit. It look kind of small to me....Ha!ha!ha! thx for saving my ass....
- #7,749
- Aug 23, 2011 1:46am Aug 23, 2011 1:46am
I'm not good in connecting fundamental with price level for currency I traded but I noticed AU/GU/EU and sometimes EJ has counter effect with CAD
That's mean when I long the 3 pairs, CAD will go opposite. Still learning to make head and tail...any idea where I should begin with is appreciated
yeah.. it has opposite correlation(CAD)... it is possible to calculate correlations betwen currencies to use it in everyday trade... somebody's using it in their trade methods
- #7,750
- Aug 23, 2011 1:55am Aug 23, 2011 1:55am
yeah.. it has opposite correlation(CAD)... it is possible to calculate correlations betwen currencies to use it in everyday trade... somebody's using it in their trade methods
interesting.....hit rate would be higher if I know them at least and combine with what I've learnt here
Shake it off!Lick the Wound,Prey Again!
- #7,754
- Aug 23, 2011 3:10am Aug 23, 2011 3:10am
I was eager to enter, after that I notice the consolidation but I refused to get out. MUST love small losses
Your entry is good, but as you seem a beginner with the method, try to take only A+ setup, and avoid the others. It's an advice, because the method needs time to be assimilate, and you risk to have loss and again loss if you take agressive entry.
Agressive entry is good for experiment trader with this method as Gravi or Meg, but for beginner as you and me, a+ is the holy grail!!!
If you have too much loss, you will give up, and the A+ will learn you to become consistent and build confidence in your trading
The more confluence criteria has an A+setup, the more this setup is reliable: support turns resistant, RET50 or RE68, Keltner rejected, TL rejected, RN rejected, Pivot rejected...
Try to find the setup which have the more confluence and which respect Sho's rules (impulsive/corrective, momentum...), and you will be better and better with this great method
There are many a+ setup on M5 or M15 each day
very good pips
I hear and I forget. I see and I remember. I do and I understand.
- #7,757
- Aug 23, 2011 3:25am Aug 23, 2011 3:25am
I was eager to enter, after that I notice the consolidation but I refused to get out. MUST love small losses
he!he! take time to get use it...you'll fall in love
Shake it off!Lick the Wound,Prey Again!
- #7,758
- Aug 23, 2011 3:27am Aug 23, 2011 3:27am
A short. No long for me when i see a such impulsive and after a such corrective. I love this kind of setup.
The red momentum is bigger. Very good setup:
-Big red impulsive move with no green bars
-The a quick and big 50% or 68% retracement(with no red bar) on the last support
-And then a wonderful PB with a big tail and a close in the range of last bar
This Pb seems to tell me: trade me, trade me!!!!
Very reliable setup, it appears not very often but when i'm seeing one i take with no hesitation.
I understand your fear bcs of the green...
great explanation as always.....
Shake it off!Lick the Wound,Prey Again!
- #7,759
- Aug 23, 2011 3:39am Aug 23, 2011 3:39am
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great explanation as always.....
Meg, remember always that , i don't want to give you any lessons, you are a better trader than me, i'm sure. I simply give you my point of view, and maybe i'm wrong
But, there are some setupsas this i feel very well, and so i take it with no hesitation
Sorrry, this two next weeks i will not trade very often, so i will not post very much charts.
I will full trade in September with more charts on the thread.
Very good pips
I hear and I forget. I see and I remember. I do and I understand.
Welcome Blaze on this thread.
Your entry is good, but as you seem a beginner with the method, try to take only A+ setup, and avoid the others. It's an advice, because the method needs time to be assimilate, and you risk to have loss and again loss if you take agressive entry.....
very good pips
) and 3rd entry.
Consistency goes a Long Way