Intraday price action trend trading

same to you

Just 3 trades today

Questions for Gravi, Meg and Elliot

Guys, i know you use to play CT. Please, i want to learn and i need you tell me your experiment. I'm afraid by the CT, even if sometimes i feel very well some setups as for this audusd. Some questions:

1)-What do you think about my entry: for me the PB is perfect, with div and on a supply level and lots confluence, which seems to be a three top.

2) How do you chose your entry: I suppose we need lots of confluence(Rn, pivot, s/d,TL, fib...) bcs CT is more risky.

3) Do you use a higher TF, wait for a RET50 or 62 and look for a good setup and div on lower TF?

4)For example, for a short: Is there one, 2,3.. big green bar(momentum) just before a bearish PB for example, do you take the trade, or avoid it bcs big green momentum? Maybe you prefer a slow green momentum just before the reversal setup?

5) Do you put the stop juste above/below the setup entry?

6)trade management: do you expect a fast move(momentum) in your direction just after the entry and close the trade if price stalls after 3 bars, or do you wait your BE, stop, Tp was touched?

7) Do you move the stop to BE faster than when you play with sho's method(with trend) or do you use the same method.

8) Do you play CT for a runner, just for quick pips in the bank(R:R 1:1), or use maybe a trailing stop?


Please i want to learn CT, and i will be happy if you could give me the way you trade this CT

thanks

hi boubafx!!!
i can share with u my experience w CT and hope it will help u in some way,but pls remember im still learning myself.
the very important thing to remember is that we are going AGAINST the trend so our risk is bigger as u said.
the first thing that i look at is divergence.i will only take CT if div exits.
(divergence means a slow in momentum and couple of divergences might even indicate a change in momentumreversal).
in addition,when taking a CT u need to spot the resistance support levels on the chart and make sure they are not too close to ur entry .since u already have less odds on ur side by taking the CT u at least want the road path of the trade to be as smooth as it can be.
lets assume we are in a downtrend so my CT will be looking for long.
if i see a major resistance just few pips from my entry i will pass but if i have more than i will look for divergence.
after i spot div i try to see if there is a setup to go against the trend.
by set ups i mean:
if we have a brkout down of an IB but the bar form a PB on the brk combine with divergence that will be a good setup for me to try scalp on the retracement.
also if we are in the 5th wave u can look for CT since we know usually a big retracement follows.
if we have an exhaustion bar follows by IB and than we get a brk of the IB to the upside u can take it.there are more examples i just cant think of them right now...
as far as the bigger TF:
i look at those in order to decide my exit.
i usually take the trade from a 15min chart.and my first target will be at the next resistance on that 15 min chart,but if i go to bigger tf and see that the next resistance if far ahead i usually choose to close half position and let the rest run(but i will move my SL to BE).the idea of leaving a runner is that originally i took the CT trying to scalp few pips but what if i actually caught a reversal??
my stop will always be below my signal bar.
THOUGH i have to admit that sometimes my emotions take part and i will trail my stop to BE very fast even before any of my targets is hit bc i will rather have a stress free trade (but don't follow me on that,its a bad habit of mine but i want to be honest with u).

i think thats it for now.
if i remember more i will post again.
hope i helped in some way.
take care.

im doing my analysis for this week and would like to share my thoughts and hear ur comments my friends.

as for the aud:
i believe price is heading towards supply 2 zone so i want to be ready with shorts in case it does happen.
but since we have about 100pips to get there i want to find a long setup.
im thinking if we get a pullback to the brkout area(resistence will turn support?)with a nice PB i might get my long setup-what do u guys think?will u join my plan or is there something im missing?...

edit:i would love to see a close above the reistence(purple line) to boost my confidence in the short term bullish view

For me the three TF is bullish, even if momentum is still bearish on weekly. I would wait for a long, and avoid to short

Look the charts, it's my thought, i say again, maybe i'm wrong

Hi All, Alomst done with the 1st Price action thread ( I think its a several re-read-- so much to absorb). Is it reccomended to read this whole thread from the beginning or start it and also watch the recent posts as they come in? Sorry newbie and I'm in junior member status so I hope not to upset anyone here with any questions. I just think this is a fantastic method and I want to get up to speed the right way. Thanks Joe

Sorry 1 more for now. Does anyone use the CME pairs vs the forex? I am currently using a different chatring package and it looks like their forex spread is around 5 or 6 pips which I think is way too wide. Thanks in advance Joe

Counter Trend
Sho mentioned before, don't use div as an entry. I puzzled ? Now I can handle this type of setup
These are my previous CT which I've captured and saved.
Not all CT give you huge profit. Some yes. Like what Sho, Gravi and Ellio said, if it is in the 5the wave.

NO. 1

NO.2

NO.3

NO.4

NO. 5

NO. 6

NO.7

NO.8
and Gravi CT setup

Is it clear? If not I still have more.
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Only a few of us practice the same method and talk here so I'm happy to share. It helps me also to reflect my previous mistakes.
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See..I jammed this thread again my habit.

Ha!ha! just one more blahhh

My analysis for AU.

EURGBP
Play CT a few times but got B.E most of the time