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Intraday price action trend trading

  • #8,641
  • Nov 7, 2011 3:18am Nov 7, 2011 3:18am
AUD/USD, M5, setup: "А++" (imho). Initial stop was: 13 pips. Target: 15. Result: +15.

http://savepic.su/613975m.gif
"To become a pro you have to think like a pro". Sho
  • #8,642
  • Nov 7, 2011 3:26am Nov 7, 2011 3:26am
Quoting simplicity
Thanks for your explanation. I agree with you that M1 red engulfing was a signal for short but I wonder where was your SL?

Keep this winning guy
Few pips( about 3-4) above the engulfing M1 bar. Often when i place the stop one pips above the signal bar, i took a loss bcs price retested the area before fallen. With 3-4 pips above the signal bar, if price retest the level, i have less risk to have loss.
I hear and I forget. I see and I remember. I do and I understand.
  • #8,643
  • Nov 7, 2011 4:25am Nov 7, 2011 4:25am
Quoting Nanitoide
AUD/USD, M5, setup: "А++" (imho). Initial stop was: 13 pips. Target: 15. Result: +15.
Nice trade Nanitoide
Support -> Resistance and Kernel channel were right.However, I think you drawed wrong Fibonacci. It should be ~50% Fibonacci retracement of big candle (because price retraced back and then dropped before formed a pin bar)

Keep winning trade guy
  • #8,644
  • Nov 7, 2011 5:40am Nov 7, 2011 5:40am
AUD/USD, M5. With the momentum. Stop was: 15 pips. Target: 20.
Result: +20 pips.

http://savepic.su/624253m.gif
"To become a pro you have to think like a pro". Sho
  • #8,645
  • Nov 7, 2011 5:46am Nov 7, 2011 5:46am
Quoting simplicity
Nice trade Nanitoide
Support -> Resistance and Kernel channel were right.However, I think you drawed wrong Fibonacci. It should be ~50% Fibonacci retracement of big candle (because price retraced back and then dropped before formed a pin bar)

Keep winning trade guy
Thank you for your comment, Simplicity!

Quote
"Guys it doesn’t have to be perfect.
50% or 38% or any retracement level because we don’t live in a perfect world.
Big institutions place their orders just before or after exact level.
They know amateurs are waiting for exact level". SHO
"To become a pro you have to think like a pro". Sho
  • #8,646
  • Nov 7, 2011 6:47am Nov 7, 2011 6:47am
Quoting Nanitoide
AUD/USD, M5, setup: "А++" (imho). Initial stop was: 13 pips. Target: 15. Result: +15.

http://savepic.su/613975m.gif
that's one of my favourite setup.. but it's pretty rarity on 4H(when i traded 15Min i spoted it time after time) u can name it whatever you want
  • #8,647
  • Nov 7, 2011 9:39pm Nov 7, 2011 9:39pm
Can explain a little bit , why you took this trade , i am unable to spot any setup here

Quoting Nanitoide
AUD/USD, M5. With the momentum. Stop was: 15 pips. Target: 20.
Result: +20 pips.

http://savepic.su/624253m.gif
Tough Times Never Last But Tough People Do
  • #8,648
  • Nov 8, 2011 3:01am Nov 8, 2011 3:01am
Quoting loog12us
Can explain a little bit , why you took this trade , i am unable to spot any setup here
I guess he entered when price bounced from kernel channel. At that time, price was forming a pin bar (but the bar not yet closed). You can see the impulsive moves and corrective moves in my picture.

Nice trade but I personally don't like to enter when the bar has not closed.

http://img94.imageshack.us/img94/1818/624253.gif
  • #8,649
  • Nov 8, 2011 3:15am Nov 8, 2011 3:15am
USD/CHF short

Entry: outside bar
http://img163.imageshack.us/img163/8...111usdchf1.gif

Trail SL to BE, nice momentum
http://img214.imageshack.us/img214/1...111usdchf2.gif

Stopped at BE
http://img841.imageshack.us/img841/2...111usdchf3.gif

Price kicked me out and then dropped sharply but it doesn't matter. I need to protect myself first
http://img811.imageshack.us/img811/2...111usdchf4.gif
  • #8,650
  • Nov 8, 2011 3:41am Nov 8, 2011 3:41am
Quoting loog12us
Can explain a little bit , why you took this trade , i am unable to spot any setup here
My thought
Attached Image (click to enlarge)
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,651
  • Nov 8, 2011 4:01am Nov 8, 2011 4:01am
My thought on your trade. hope that can help you.

try to have the first TP greater than the stop.

So if you take 2/3position at TP1 and let the 1/3 rest at stop (and you are further stop out), you have a winner

If price retest your entry level and don't touch your stop, you could have behind a runner and a big winner on the last 1/3 position

Bouba
Attached Image (click to enlarge)
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,652
  • Nov 8, 2011 4:13am Nov 8, 2011 4:13am
I killed the trade at + 4 pips, bcs i was wrong on my position size (false calcul, was too big). But the entry is good and with M15 green momentum
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,653
  • Nov 8, 2011 6:54am Nov 8, 2011 6:54am
Quoting boubafx
My thought on your trade. hope that can help you.

try to have the first TP greater than the stop.

So if you take 2/3position at TP1 and let the 1/3 rest at stop (and you are further stop out), you have a winner

If price retest your entry level and don't touch your stop, you could have behind a runner and a big winner on the last 1/3 position

Bouba
Thanks for your advice boubafx, First I focus on solid entry set up and try to manage the trade. I don't want to scale out because the total R:R is less even the final TP is bigger. Breakeven is OK for me now. Exit is more difficult than entry and I'll learn about exit later. Step by step. I don't need to rush myself
  • #8,654
  • Nov 8, 2011 8:20am Nov 8, 2011 8:20am
hi guys!!!
thought to stop by and say hello to some of my old friends here.
im sorry i havent posted here in a while. im currently trading supplydemand and havent had too many setups on 15 min that worth posting here since i dont believe they are relevant to this thread.
if i do have some in the future will def share them here.

boubafx,gravi,joe,simplicity and all the rest u guys rok!!!
wish u all the best!!!
green pips!!!!
  • #8,655
  • Nov 8, 2011 8:28am Nov 8, 2011 8:28am
Quoting elliotrader
hi guys!!!
thought to stop by and say hello to some of my old friends here.
im sorry i havent posted here in a while. im currently trading supplydemand and havent had too many setups on 15 min that worth posting here since i dont believe they are relevant to this thread.
if i do have some in the future will def share them here.

boubafx,gravi,joe,simplicity and all the rest u guys rok!!!
wish u all the best!!!
green pips!!!!
hello my friend, happy to hear you.

you're right, with momentum, s/d is very very important.

Hope you do well
I hear and I forget. I see and I remember. I do and I understand.
  • #8,656
  • Nov 8, 2011 8:32am Nov 8, 2011 8:32am
Quoting simplicity
Thanks for your advice boubafx, First I focus on solid entry set up and try to manage the trade. I don't want to scale out because the total R:R is less even the final TP is bigger. Breakeven is OK for me now. Exit is more difficult than entry and I'll learn about exit later. Step by step. I don't need to rush myself
Thanks Simplicity, I appreciate your contributions to the thread. I think you are doing a great job. I have learned a lot from your approach and discipline, it is helping a lot. Joe
  • #8,657
  • Edited 1:18pm Nov 8, 2011 9:54am | Edited 1:18pm
I took the trade on the TL, bcs lots of confluence. Nice reaction

2/3 position at TP1 (look the chart), the 1/3 rest is at BE with 1.6100 TP2

I'm right, the momentum is red on M5, but is green on H1 and the overall trend on M5 is up, so i took the trade
Attached Image (click to enlarge)
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,658
  • Nov 8, 2011 10:09am Nov 8, 2011 10:09am
Hello!

Today. GBP/USD it was "1-2-3 Breakout! Pattern - http://www.forexfactory.com/showpost...ostcount=11820" (Billy Ray Valentine)
Risk 12 pips. Target 40. Result: +40 pips.

http://savepic.su/665931m.gifhttp://savepic.su/661835m.gif

E/U Setup "A+". Risk 13 pips. Target 15 pips. Result +12.5 pips.

http://savepic.su/715080m.gif

p.s. Sorry, but I can not comment. I do not know English...
"To become a pro you have to think like a pro". Sho
  • #8,659
  • Nov 8, 2011 10:47am Nov 8, 2011 10:47am
I am reworking my trading approach where I try and identify the best trend setup on the 15 min and confirm with the 4H. After that I focus on the trade on the 5 min.

I did a couple trades today 1st was a outside bar on the USDCHF. I misread the wave count which made it an agressive "poorly executed" trade --- spotted it hindsight so where I was reading the chart with a momentum bar it was actually and exhaustion bar, it did close below a demand area and trendline and was a strong4H momentum bar. Stopped out 10 pip.

Sorry charts are not in proper order.
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Attached Images
  • #8,660
  • Nov 8, 2011 10:56am Nov 8, 2011 10:56am
Next 2 trades were in usdjpy entered. 1st was a nice PB but right after 2 green momentum bars it was only 38% retrace on. Risked 6 to make 12 and stopped out. 2nd entry short on direction change on the 5 and 50% retrace on the 15. risg 7.5 to make 15 --- market really slowed so I scratched it --- it was good for 10 pip max.
Attached Images
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