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Intraday price action trend trading

  • #8,001
  • Edited 4:16am Sep 5, 2011 4:02am | Edited 4:16am
IB on the GBPUSD but too long a bar so working an order at 1.6135 (so stop is around 10 pips around previous bars high)--- not sure might be some stalling below 1.6118

Just noticed that this is a surport area around 1.6127 so might actually be a CT trade. I haven't learned those yet just trying to get the impulse trades down 1st.

Stopped out.
  • #8,002
  • Sep 5, 2011 4:27am Sep 5, 2011 4:27am
Long EURUSD reached and bought the open so I have a 12pip stop vs. the preferred 10 which it is rapidly approaching.

Stopped out.

On looking back 1.1456 was an old surport line that we broke through so maybe now its resistance?? And I had the line drawn --- now to start spotting them and give them their due respect.
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  • #8,003
  • Sep 5, 2011 4:38am Sep 5, 2011 4:38am
Quoting jozone1
Long EURUSD reached and bought the open so I have a 12pip stop vs. the preferred 10 which it is rapidly approaching.

Stopped out.

On looking back 1.1456 was an old surport line that we broke through so maybe now its resistance?? And I had the line drawn --- now to start spotting them and give them their due respect.
look the chart please
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,004
  • Sep 5, 2011 4:41am Sep 5, 2011 4:41am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
good try Joe
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Shake it off!Lick the Wound,Prey Again!
  • #8,005
  • Sep 5, 2011 4:46am Sep 5, 2011 4:46am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
similar to the above
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Shake it off!Lick the Wound,Prey Again!
  • #8,006
  • Sep 5, 2011 4:49am Sep 5, 2011 4:49am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I don't trade USDJPY. Too flat in 4H chart and also many spike up and down
Shake it off!Lick the Wound,Prey Again!
  • #8,007
  • Sep 5, 2011 4:50am Sep 5, 2011 4:50am
look the H1 Joe
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,008
  • Sep 5, 2011 5:08am Sep 5, 2011 5:08am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting boubafx
look the H1 Joe
--------
It's a perfect A+setup short
Shake it off!Lick the Wound,Prey Again!
  • #8,009
  • Sep 5, 2011 5:11am Sep 5, 2011 5:11am
Thank you BoubaFX and Megara for the explanations and timely responses. 1st demo trade day. Made 5 trades and had 2 scratches and 3 stops. I have much to learn and I appreciate the help that you are sharing. In my past life I only used indicators. I am just getting starting drawing things on charts and what to look at.

Some lessons learned though.
I can't watch 12 pairs at once (at least not yet) so maybe down to 6.
Hard to watch and post but I think it is a necessity ( maybe post after the trade is complete)
I need to incorperate more time frame S/R onto the 15 minute charts.
Need to add trend lines.
Need to review and study "Everything" a whole lot more.
To name a few for starters.

Thanks again. Back to studying! I still haven't finished this thread.
  • #8,010
  • Sep 5, 2011 5:16am Sep 5, 2011 5:16am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I prefer to trade this type of IB not the bottom IB
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Shake it off!Lick the Wound,Prey Again!
  • #8,011
  • Sep 5, 2011 5:21am Sep 5, 2011 5:21am
Quoting jozone1
Thank you BoubaFX and Megara for the explanations and timely responses. 1st demo trade day. Made 5 trades and had 2 scratches and 3 stops. I have much to learn and I appreciate the help that you are sharing. In my past life I only used indicators. I am just getting starting drawing things on charts and what to look at.

Some lessons learned though.
I can't watch 12 pairs at once (at least not yet) so maybe down to 6.
Hard to watch and post but I think it is a necessity ( maybe post after the trade is complete)
I need to incorperate more time...
I advice you to keep the 12 pairs. Don't over analysis first, look each 15mn fastly and watch if there is a good setup. No need to past 5mn on that, only 10-15 second on each.

When you see a great setup (PB, OB), then you can take time to make a good analisys to see where is the setup, the momentum, the confluence, the H4 s/d, the fibo, the pivot, the RN, the TL........

More pairs, more good setup.

I watch each 15mn the pair less than 5 second, but take time when a good setup occurs
I hear and I forget. I see and I remember. I do and I understand.
  • #8,012
  • Sep 5, 2011 5:33am Sep 5, 2011 5:33am
A CT for a little 1:1 R:R
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,013
  • Sep 5, 2011 5:33am Sep 5, 2011 5:33am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
wow 15 pairs in 15 min! You have many eyes boubafx.
----------
Take your time to learn Joe.
Shake it off!Lick the Wound,Prey Again!
  • #8,014
  • Sep 5, 2011 5:35am Sep 5, 2011 5:35am
A fast loss. Not a A+ setup
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,015
  • Sep 5, 2011 5:41am Sep 5, 2011 5:41am
Quoting Megara
wow 15 pairs in 15 min! You have many eyes boubafx.
----------
Take your time to learn Joe.


No it's simply bcs i take only A+ setup (i'm conservative) , so the review of each charts is fast done, and i have more setups each day. But the spread of some are too high i find, and so it's more difficult
I hear and I forget. I see and I remember. I do and I understand.
  • #8,016
  • Sep 5, 2011 5:41am Sep 5, 2011 5:41am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting boubafx
A CT for a little 1:1 R:R
------
good CT but can be lower the risk, I mean stop loss size
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Shake it off!Lick the Wound,Prey Again!
  • #8,017
  • Sep 5, 2011 5:51am Sep 5, 2011 5:51am
Patience!!!
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,018
  • Sep 5, 2011 6:14am Sep 5, 2011 6:14am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
It's holiday for US and Canada. Will not see much movement
Shake it off!Lick the Wound,Prey Again!
  • #8,019
  • Sep 5, 2011 6:53am Sep 5, 2011 6:53am
after a little wedge consolidation, the down BO and the TP
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,020
  • Sep 5, 2011 7:33am Sep 5, 2011 7:33am
My BE is touched for this CT with div
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I hear and I forget. I see and I remember. I do and I understand.
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