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Intraday price action trend trading

  • #8,041
  • Sep 6, 2011 3:23am Sep 6, 2011 3:23am
Quoting Megara
Ha!ha! how would I know CHF will shoot so high

Wow!!! Nice!!

Quoting boubafx
How explain a such move
No trade foerme now, i wait the storm calm

Agreed!!
  • #8,042
  • Sep 6, 2011 3:24am Sep 6, 2011 3:24am
Just turned on Bloomberg news. Swiss national bank sets franc rate at 1.2 euro.
  • #8,043
  • Sep 6, 2011 3:29am Sep 6, 2011 3:29am
Quoting Megara
News settle, resume normal trend for EU
exuse me, i don't understand your sentence???
I hear and I forget. I see and I remember. I do and I understand.
  • #8,044
  • Sep 6, 2011 3:36am Sep 6, 2011 3:36am
buddies, i don't take the trade, afraid by the big move, but look the chart and tell me what you think

thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gap.jpg Size: 101 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #8,045
  • Sep 6, 2011 3:41am Sep 6, 2011 3:41am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting boubafx
exuse me, i don't understand your sentence???
-----------
I'm not good in fundamental and sorts. Still learning.

Compare today's move with USDJPY/EJ/ and others Js' pair during Asian session. Many interventions and reaction happen. I'm not talking about today's move but the past history.

Let's say UJ is in downtrend. Out of the blue, the pair been shot up to 300 pips. Then you see aftermaths, up/down and finally resume to normal trend that is down.

I'm not too sure if today's move can be compare with UJ. just personal experience and thought.

Is today's move will change the trend to up for most currency? I am not sure either. Just look and see and have to find out the answer
Shake it off!Lick the Wound,Prey Again!
  • #8,046
  • Sep 6, 2011 3:45am Sep 6, 2011 3:45am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting boubafx
buddies, i don't take the trade, afraid by the big move, but look the chart and tell me what you think

thanks
-----------------
I'm not doing any trade after the big bonus either. Wait for 20min bouba and decide if can be tradable or not
Never I see such big shoot. Not in UJ spike too.
Shake it off!Lick the Wound,Prey Again!
  • #8,047
  • Sep 6, 2011 3:51am Sep 6, 2011 3:51am
Quoting Megara
-----------------
I'm not doing any trade after the big bonus either. Wait for 20min bouba and decide if can be tradable or not
Never I see such big shoot. Not in UJ spike too.
Ya, did I pick the wrong week to start trading this? --- ha --- esp 3 AM my time. Still shaking out the cob webs from the little grey cells.
  • #8,048
  • Sep 6, 2011 3:53am Sep 6, 2011 3:53am
i dont know what that means to the eurusd pair, but i will not trade until the dust setteled down. Mavbee us sesseion ist better
Attached Image
  • #8,049
  • Sep 6, 2011 3:53am Sep 6, 2011 3:53am
Quoting Megara
-----------------
I'm not doing any trade after the big bonus either. Wait for 20min bouba and decide if can be tradable or not
Never I see such big shoot. Not in UJ spike too.
agree, it's just want to talk and give you give your analysis, it's always good

lokk the same chart on H1, it seems to be a big s/d level for a big down bounce. lots of elements to go short no?

I just want to understand and learn CT trade, nothing more
Attached Image (click to enlarge)
Click to Enlarge Name: gap1.jpg Size: 77 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #8,050
  • Sep 6, 2011 3:59am Sep 6, 2011 3:59am
Quoting MJurban
i dont know what that means to the eurusd pair, but i will not trade until the dust setteled down. Mavbee us sesseion ist better
on forex factory calandar, no indication of this news .

I hate to trade during news, bcs difficulty to go in, out, big move and big spread

Can you please tell me what calandar do you use?
I hear and I forget. I see and I remember. I do and I understand.
  • #8,051
  • Sep 6, 2011 4:04am Sep 6, 2011 4:04am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting boubafx
on forex factory calandar, no indication of this news .

I hate to trade during news, bcs difficulty to go in, out, big move and big spread

Can you please tell me what calandar do you use?
----------
Unless you're insider..there's no such advance calendar or news can tell you this. Not me either,lucky today?
Shake it off!Lick the Wound,Prey Again!
  • #8,052
  • Sep 6, 2011 4:11am Sep 6, 2011 4:11am
Quoting Megara
----------
Unless you're insider..there's no such advance calendar or news can tell you this. Not me either,lucky today?
An old floor trader quote "Better to have luck than talent"!!
  • #8,053
  • Edited 4:27am Sep 6, 2011 4:14am | Edited 4:27am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
I read the pdf just now.
My understanding is swissy considered safe heaven for investors just like gold.
Their country is servicing oriented. High currency exchange definetely dampen one's country revenue. Think of this like Japan which is export oriented country. Causing BoJ has no other solution to help their companies but INTERVENE........to weaken own currency so to bring in more revenue for Japan. More revenue more tax being collected
This goes for swissy
Look like we have currency war every now and then.....Stay alert traders
US wants weeker dollar;
J wants weeker Yen
Swissy wants weeker franc
China wants weeker renminbi
......what else.. so complex
That's why Uncle Sho said trading is simple but not easy otherwise we're millionaire,
and I think it make sense now
Shake it off!Lick the Wound,Prey Again!
  • #8,054
  • Sep 6, 2011 4:21am Sep 6, 2011 4:21am
Hindsight now but would have this setup have been a trade under normal circumstances?
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  • #8,055
  • Sep 6, 2011 4:31am Sep 6, 2011 4:31am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Most 4H chart are big IB. Hard to make decision. O.K just take the pips and off early
Good trading Joe,boubafx.....
Shake it off!Lick the Wound,Prey Again!
  • #8,056
  • Sep 6, 2011 4:35am Sep 6, 2011 4:35am
Quoting jozone1
Hindsight now but would have this setup have been a trade under normal circumstances?
my thought

Joe when it seems to be a CT setup or a momentum change, always watch where your are on the H4 to see if a trend enter is a risk trade

and don't forget that on H4 the trend and momentum is down, so when you see this red momentum bar on M15, i will be afraid to buy
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,057
  • Sep 6, 2011 4:49am Sep 6, 2011 4:49am
Long USDJPY


and stopped out!!
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  • #8,058
  • Sep 6, 2011 5:02am Sep 6, 2011 5:02am
Quoting boubafx
my thought

Joe when it seems to be a CT setup or a momentum change, always watch where your are on the H4 to see if a trend enter is a risk trade

and don't forget that on H4 the trend and momentum is down, so when you see this red momentum bar on M15, i will be afraid to buy

Thanks BoubaFX it does help. I need to do H4 homework let alone everything else. I haven't focused on CT yet still trying to get the basics down but I think you mentioned in an earier post to me that one has to add in everything.
  • #8,059
  • Sep 6, 2011 5:11am Sep 6, 2011 5:11am
Quoting jozone1
Thanks BoubaFX it does help. I need to do H4 homework let alone everything else. I haven't focused on CT yet still trying to get the basics down but I think you mentioned in an earier post to me that one has to add in everything.
yes it's always good to watch H4

But in your trade, i would not have watch H4, bcs on M15 w can see this big red bar which seems to mean that the momentum has changed (for a little time or a long time, nobody knows)

So, take a long after a such red bar, it's not possible for me. I tell you what Sho learn us, nothing more!!!

Momentum exceeds everything
I hear and I forget. I see and I remember. I do and I understand.
  • #8,060
  • Sep 6, 2011 5:22am Sep 6, 2011 5:22am
Quoting boubafx
yes it's always good to watch H4

But in your trade, i would not have watch H4, bcs on M15 w can see this big red bar which seems to mean that the momentum has changed (for a little time or a long time, nobody knows)

So, take a long after a such red bar, it's not possible for me. I tell you what Sho learn us, nothing more!!!

Momentum exceeds everything
I don't spot that yet that why the help is appreciated. It seems also that I am picking trades on the corrective wave not the impulse wave. Hindsight now but hopefully some of this will sink in.
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