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Intraday price action trend trading

  • #7,941
  • Aug 30, 2011 4:14pm Aug 30, 2011 4:14pm
Thanks again BoubaFX and ElliotTrader.

I am working on setting up my charts was planning on 2 but will start with the majors. I am currently on a different charting platform and I am a FX convert from trading the Stock Indexes(poorly I might add). I have been watching the trading matrix throughout the day (CDT) to see how the EUR/USD moves to get familar with that live and see the spread range. It seems to hover around 2 pips --- I'll watch it again during the London session.

Seems I have a mountain of work to sort through but this is 1 mountain I am glad to climb. Still pretty shaky on the A+ setups and pinbars so I will go through the material again soon and heed your advice during the live sessions. I know patience is definately a must.

Good trading!! Joe
  • #7,942
  • Aug 30, 2011 4:38pm Aug 30, 2011 4:38pm
I agree, Even though I have just started this thread and have peeked ahead every 50 pages or so and see many of the original traders have not been around for some time.

But I have noticed that there are a current handful of you that have been active here for at least 8 to 10 months and that speaks mounds for the system and us newbies because you are still here working hard and it proves that this method does work. And most of all, your willingness to share as the seinors did before you.

Kudos!!
  • #7,943
  • Aug 31, 2011 2:10am Aug 31, 2011 2:10am
Quoting elliotrader
im very curious about something....
i always read this thread over and over again...its like my homework(for example:this week im reading pages 280-350...) i do it bc i wanna learn from the seniors-expeirenced traders that used to be active here including posts from sho himself.(although the majority of them he deleted)
my favorites are:master sho(obvioslly),rob (price action),buildcity,mjurban,the roper and i hope im not forgetting someone...

does anybody know where they are and why they are not posting here anymore?
i want to believe that...
i follow the thread , reading all the posts, specially the h4 charts , thats what im am up too next
ure all doing great here i think
  • #7,944
  • Aug 31, 2011 2:43am Aug 31, 2011 2:43am
After the night, i find finally a TP
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,945
  • Edited 5:54am Aug 31, 2011 5:49am | Edited 5:54am
Hi traders, This is just a test to see if I am doing this right and if I can get a chart on. I'm thinking this would have been a decent trade. Ended up a break even. Ellipse is flat area. I have a rule of thumb and let me know what you think. I usually wait for 4 bars to not be touching the mid kelt line before I trade as it is a lagging indicator. I try not to trade if 3 or more bars are touchong the kelt line but thats part of my old school trading so should I throw that philosophy away?
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  • #7,946
  • Aug 31, 2011 6:47am Aug 31, 2011 6:47am
Quoting jozone1
Hi traders, This is just a test to see if I am doing this right and if I can get a chart on. I'm thinking this would have been a decent trade. Ended up a break even. Ellipse is flat area. I have a rule of thumb and let me know what you think. I usually wait for 4 bars to not be touching the mid kelt line before I trade as it is a lagging indicator. I try not to trade if 3 or more bars are touchong the kelt line but thats part of my old school trading so should I throw that philosophy away?
Use what you have learn and suit you, i can't say you if your rule is good or not. More tools you use which suit you to take a trade, better it will be

You make a good trade, so you have saving your money, and so it's a winner

look my chart. Be carefull when you see a such CT setup, watch where you are
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,947
  • Aug 31, 2011 7:23am Aug 31, 2011 7:23am
Quoting boubafx
Use what you have learn and suit you, i can't say you if your rule is good or not. More tools you use which suit you to take a trade, better it will be

You make a good trade, so you have saving your money, and so it's a winner

look my chart. Be carefull when you see a such CT setup, watch where you are
look the strong of this fibo and all this PA, i'm learning Ct but my thought is that is a good area for CT.

The momentum on H4 is up, and maybe a trade take on the FIBO50 could becomea runner
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,948
  • Aug 31, 2011 7:46am Aug 31, 2011 7:46am
Very nice explanation and whats surprising is that it all makes sence. I can't spot any of it though-- Ha-- yet!! Sooo much to learn.

Good trading!! Joe
  • #7,949
  • Aug 31, 2011 7:59am Aug 31, 2011 7:59am
Quoting boubafx
look the strong of this fibo and all this PA, i'm learning Ct but my thought is that is a good area for CT.

The momentum on H4 is up, and maybe a trade take on the FIBO50 could becomea runner
Look now the same chart how it is hard to guess what will made a trade.

It's why i test CT with 1:1 ratio

i think we must choose a great entry, a stop just above/below and a fixed a TP, and let the trade devellop itself. Nobody knows how long a move last
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,950
  • Aug 31, 2011 8:33am Aug 31, 2011 8:33am
Ya CT is very advanced for me for now still learning A+ but I really appreciate all of your help. Thanks!!

Wouldn't a crystal ball be nice --- especially if it works!!
  • #7,951
  • Aug 31, 2011 10:27am Aug 31, 2011 10:27am
My first trade.

Beatiful impulsive, little corrective and so many confluence

I don't like very much the PB, too little wick i find. And see the first confirmation with this green IB (after the PB) break first up then downdown.

And the second confirmation with the engulfing of the IB with a big red bar. it's pure beauty !!!!!
I like this area, and i didn't find a trade which suit me 100% today, so i took it!!
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,952
  • Aug 31, 2011 11:06am Aug 31, 2011 11:06am
i try to learn break of wedge!!!
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,953
  • Aug 31, 2011 11:10am Aug 31, 2011 11:10am
hi boubafx!!
im happy to see u are finding trades .
im not sure if im going throw something but for the past 2 days im having issues with finding setups.
not sure if its bc the market really provide less set ups or its me going throw something...
ugh...getting a bit frustrated here...
  • #7,954
  • Aug 31, 2011 11:17am Aug 31, 2011 11:17am
Quoting elliotrader
hi boubafx!!
im happy to see u are finding trades .
im not sure if im going throw something but for the past 2 days im having issues with finding setups.
not sure if its bc the market really provide less set ups or its me going throw something...
ugh...getting a bit frustrated here...
it's not a bad thing to not find severals very good setup each day. One or two for me is good for me.

I don't take trade that i fell 90-100%, and for the good setup(but not perfect for me), i put an arrow on my chart and see the result, with no loss or win. But it's good for the learning and for the impatient for me.

it avoid to take bad trade on the account, and it allows me to "play" as i like that!!!
I hear and I forget. I see and I remember. I do and I understand.
  • #7,955
  • Aug 31, 2011 11:22am Aug 31, 2011 11:22am
Elliot do you know where is the stop?

Under the top line of wedge?

Or under the low line?
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I hear and I forget. I see and I remember. I do and I understand.
  • #7,956
  • Aug 31, 2011 11:29am Aug 31, 2011 11:29am
the stop should be at ur lower line below the ib bar.
i do not trade wedgestriangles so im not a specialist but i do know that this is the rule.
if i was in the trade i would of moved my stop to BE now tho.
just me since i have no confidence in this setup.
i know i have shos post regarding the stop and entry so i will try to find it for u and post it.
  • #7,957
  • Aug 31, 2011 11:36am Aug 31, 2011 11:36am
Quoting elliotrader
the stop should be at ur lower line below the ib bar.
i do not trade wedgestriangles so im not a specialist but i do know that this is the rule.
if i was in the trade i would of moved my stop to BE now tho.
just me since i have no confidence in this setup.
i know i have shos post regarding the stop and entry so i will try to find it for u and post it.
I know that double and triple IB is a great great setup. i don't play and studied them, but i will look them now to learn the setup
I hear and I forget. I see and I remember. I do and I understand.
  • #7,958
  • Aug 31, 2011 11:36am Aug 31, 2011 11:36am
found it but for some reason i cant post the link.
go to the first thread(the educational one) to page 138 post #2059
i believe it will answer ur Q.
  • #7,959
  • Aug 31, 2011 11:49am Aug 31, 2011 11:49am
Quoting elliotrader
found it but for some reason i cant post the link.
go to the first thread(the educational one) to page 138 post #2059
i believe it will answer ur Q.
thanks
I hear and I forget. I see and I remember. I do and I understand.
  • #7,960
  • Sep 1, 2011 8:00am Sep 1, 2011 8:00am
first trade
CT TRADE therfore my SL is moved to BE already.
will close half at the yellow line on 15 min and will trail the rest in case price will reverse higher.
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