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Intraday price action trend trading

  • #8,381
  • Oct 4, 2011 10:16am Oct 4, 2011 10:16am
another CT try... looks like exhaution while down move... price stalls at RN and Div. was formed... went long on IB BO to upside... it's a runner atm.. closing to my TP level..
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu3.gif Size: 31 KB
  • #8,382
  • Oct 4, 2011 10:17am Oct 4, 2011 10:17am
Quoting boubafx
His setup is the PB and he took the trade at the retracement.

Gravi used to take the entry at retracement of the signal bar to tight the stop. And i used to use his method to take the trade
That's right!
  • #8,383
  • Oct 4, 2011 10:22am Oct 4, 2011 10:22am
i am also on the same boat , looking for about 150 pips on that one
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Tough Times Never Last But Tough People Do
  • #8,384
  • Oct 4, 2011 10:32am Oct 4, 2011 10:32am
hahaha we are all in the same boat!i took it as well but since its ct im trailing my SL.at the moment i locked +35...will keep trailing it as it continue to go up or i will get stopped.its interesting to see how we all have our own money management.
  • #8,385
  • Oct 4, 2011 10:36am Oct 4, 2011 10:36am
Hey guy, you are up on EU, i'm down on GU

I took half part profit at +20 pips, and move my stop to BE

CT on TL, confluence fibo and last support

I have considered nthis green bar as excessive after news on dollard and took this confluence trade after PB

My tp is at 1.5264
Attached Image (click to enlarge)
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,386
  • Oct 4, 2011 10:43am Oct 4, 2011 10:43am
2nd trade today: GBP/JPY short

Entry: Supply level but counter trend (a little risk)
http://img31.imageshack.us/img31/8633/041011gbpjpy1.gif

Trail SL
http://img26.imageshack.us/img26/7605/041011gbpjpy2.gif

Stopped at BE

http://img32.imageshack.us/img32/4634/041011gbpjpy3.gif

Should I consider 1:1 Risk: Reward on counter trend
  • #8,387
  • Oct 4, 2011 10:57am Oct 4, 2011 10:57am
hi simplicity!!

if i may im really curious why u took this trade.
to me it looks like u took it bc of the PB but pls remember that we do NOT trade all pin bars. the best set ups as far as pb are in the direction of the trend.
now ,i don't trade this pair and maybe im missing something but i wouldn't have taken it.
also,when taking a CT ur goal is to move ur stop to BE as soon as u can so great managemnt by ur side.remember-reserve ur capital first...gains will follow

hope u understand im not criticizing u but just pointing out my point of view.
  • #8,388
  • Oct 4, 2011 11:11am Oct 4, 2011 11:11am
nice movment on the euro !took my +100 pips...
still can go further but i currently have 3 trades running....
too busy monitoring them all.its defently more than i had in mind when i took this ct trade.
GL gravi and loog12us!hope it will continue climbing and make u more pips!!!!
  • #8,389
  • Oct 4, 2011 11:14am Oct 4, 2011 11:14am
Quoting elliotrader
hi simplicity!!

if i may im really curious why u took this trade.
to me it looks like u took it bc of the PB but pls remember that we do NOT trade all pin bars. the best set ups as far as pb are in the direction of the trend.
Hi Elliot,

I don't trade all pin bar and it was not a pin bar too.
First, I define Support/Resistance zone (2 orange lines).
Second, If I want to go short (this trade) I want to see red bar at S/R zone (Pin bar or Outside bar is better but not required)
Third, I zoom in to M1 chart. Wait for pull back and If I have lower high(short trade)/higher low(long trade) I take the trade. Otherwise I pass the trade.

Quoting elliotrader
hope u understand im not criticizing u but just pointing out my point of view.
Never mind mate. All comment are appreciated. We are just learning to improve our trading skill.

Good trading!
  • #8,390
  • Oct 4, 2011 11:21am Oct 4, 2011 11:21am
Quoting elliotrader
nice movment on the euro !took my +100 pips...
still can go further but i currently have 3 trades running....
too busy monitoring them all.its defently more than i had in mind when i took this ct trade.
GL gravi and loog12us!hope it will continue climbing and make u more pips!!!!
Wonderfull Elliot, +100 pips, i'm unable to take a trade such long, too much stress for me.

Conngratualtaion

My second part of GU is BE+1
I hear and I forget. I see and I remember. I do and I understand.
  • #8,391
  • Oct 4, 2011 11:27am Oct 4, 2011 11:27am
Quoting elliotrader
nice movment on the euro !took my +100 pips...
still can go further but i currently have 3 trades running....
too busy monitoring them all.its defently more than i had in mind when i took this ct trade.
GL gravi and loog12us!hope it will continue climbing and make u more pips!!!!
hehe!!
it is close to resistance atm so i closed the trade ( + 90 pips) as i planned before..

nice move we catched
  • #8,392
  • Oct 4, 2011 11:29am Oct 4, 2011 11:29am
thx boubfx!!!
if to be honest that was not too long of a trade .the market just continue shooting up.i was close 3 pips from having my trailed sl hit for 40 pips but than market kept going higher and making me richer so i just stayed in.
there was no real reason to even get out when i did but as i said im really busy with corn and s&p so decided to cut the euro trade for the nice 100 pips profit.
it can still go even higher.
  • #8,393
  • Oct 4, 2011 11:30am Oct 4, 2011 11:30am
if i could gravi i would give u 5 pips of mine so we be equal....
  • #8,394
  • Oct 4, 2011 11:41am Oct 4, 2011 11:41am
Great CT trades guys!!!

Question -- Where is your original stop on the 4H timeframe and how soon do you move to break even? thanks Joe
  • #8,395
  • Oct 4, 2011 11:42am Oct 4, 2011 11:42am
Quoting elliotrader
if i could gravi i would give u 5 pips of mine so we be equal....
hehe
  • #8,396
  • Oct 4, 2011 12:05pm Oct 4, 2011 12:05pm
hi joe!
i put my sl just few pips below the IB.
trailed my sl to BE as soon as u can bc after all it is a CT trade!.
the market just kept going higher keeping me in so that was nice.
it seems like i was lucky getting out at the exact swing high but i usually trail my sl as much as i can,trying to lock as much profit as possible until i get stopped out.this one i closed manually for the reason i mentioned earlier.

p.s-
don't get too excited to take CT bc u are liking the result of this particular trade.
no doubt it was a nice trade but pls remember it is a CT.get used to trade w momentum first.i promise u it will get u even nicer results.
once u comftrable start trading CT.
i like ur progress and don't wont u to get fooled from this nice result trade.
CT is riskier so until u feel very comftrable try to focus on momentum trades.

hope it helps.
  • #8,397
  • Oct 4, 2011 12:32pm Oct 4, 2011 12:32pm
nice try mate , but i am avoiding 5 m chart today because i am only catching losses on 5 min chart since 3 days so i am avoiding it until i get better market feel. 15 min chart gives me comfort and requires lesser screen time

Quoting simplicity
2nd trade today: GBP/JPY short

Entry: Supply level but counter trend (a little risk)
Should I consider 1:1 Risk: Reward on counter trend
Tough Times Never Last But Tough People Do
  • #8,398
  • Oct 4, 2011 12:33pm Oct 4, 2011 12:33pm
Quoting elliotrader
hi joe!
i put my sl just few pips below the IB.
trailed my sl to BE as soon as u can bc after all it is a CT trade!.
the market just kept going higher keeping me in so that was nice.
it seems like i was lucky getting out at the exact swing high but i usually trail my sl as much as i can,trying to lock as much profit as possible until i get stopped out.this one i closed manually for the reason i mentioned earlier.

p.s-
don't get too excited to take CT bc u are liking the result of this particular trade.
no doubt it was a nice trade but pls remember...
Thanks it helps a lot. It is very sound advice I don't plan on touching CT yet for that very reason (riskier and more capital required). But it is nice to see how it is traded live. I still have much to learn about trend trade 1st --- I am happy to be in such nice and helpful company. Joe
  • #8,399
  • Oct 4, 2011 12:36pm Oct 4, 2011 12:36pm
longer time frame trade actually gives less stress because you don't have to monitor it every 1 or 5 minutes , at least to my self ,

Quoting boubafx
Wonderfull Elliot, +100 pips, i'm unable to take a trade such long, too much stress for me.

Conngratualtaion

My second part of GU is BE+1
Tough Times Never Last But Tough People Do
  • #8,400
  • Oct 4, 2011 12:39pm Oct 4, 2011 12:39pm
You are really lucky mate , i usually get stopped out by 1 pip , finding out that market was just hunting me , some times even with 5th fraction .

Quoting elliotrader
thx boubfx!!!
if to be honest that was not too long of a trade .the market just continue shooting up.i was close 3 pips from having my trailed sl hit for 40 pips but than market kept going higher and making me richer so i just stayed in.
there was no real reason to even get out when i did but as i said im really busy with corn and s&p so decided to cut the euro trade for the nice 100 pips profit.
it can still go even higher.
Tough Times Never Last But Tough People Do
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