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Intraday price action trend trading

  • #8,861
  • Dec 1, 2011 12:06pm Dec 1, 2011 12:06pm
a lit corn trade i took earlier.
u can see lots of confluence like compression,mid kc,pb,fib,tl....
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  • #8,862
  • Dec 1, 2011 12:11pm Dec 1, 2011 12:11pm
nice thread
  • #8,863
  • Dec 1, 2011 12:19pm Dec 1, 2011 12:19pm
out from the remanning position left.
we are in demand zone after all..
might scalp long...
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  • #8,864
  • Dec 1, 2011 12:22pm Dec 1, 2011 12:22pm
some comments and questions on your trade!


Quoting pipmunks
Here my recent trade
Attachment

Already reduce stop loss size, target around downtrend line.
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Tough Times Never Last But Tough People Do
  • #8,865
  • Dec 1, 2011 12:57pm Dec 1, 2011 12:57pm
Quoting loog12us
some comments and questions on your trade!
Here my thought process. See the chart.
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Too bad i don't manage the trade very well. Choppy market, get in, get out fast

edit : i meant demand level, not supply level
  • #8,866
  • Dec 1, 2011 1:59pm Dec 1, 2011 1:59pm
Quoting boubafx
EU daily
i guess there's the possible momentum change.. PA reacts with Demand area( this year minimum)...
someone could wait for pullback and go long then..
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  • #8,867
  • Dec 1, 2011 2:27pm Dec 1, 2011 2:27pm
I've been mainly posting on Niceguy's Ridiculous 7 Pips Trading System but came across this thread when I was searching other PA threads. After doing some reading I'm finding it very helpful for trading Supply and Demand areas and trading with the momentum.
Thanks to Sho for starting the thread I've found his teaching very enlightening though I've only been reading through the thread for a couple of days.

Here's a trade I took on AU this afternoon PB formed at supply area, after market had stalled here around NY open, set SL to 10 pips and TP to 25 pips which was just short of a demand area.
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  • #8,868
  • Dec 1, 2011 2:29pm Dec 1, 2011 2:29pm
Quoting Gravi
i guess there's the possible momentum change.. PA reacts with Demand area( this year minimum)...
someone could wait for pullback and go long then..
Yes but the momentum is still red and the supply is good. I think we need more momentum to break this aera. Not enough miomentum now to go through

So at less i think we can expect a down reaction at this supply and maybe after the market will try to win some green speed(up momentum) in order to go throught the supply and rallies.

But for me, we will have a down reaction at this supply (maybe a retest of the downtrendline just broken)
I hear and I forget. I see and I remember. I do and I understand.
  • #8,869
  • Dec 1, 2011 2:33pm Dec 1, 2011 2:33pm
Quoting stevepatt
I've been mainly posting on Niceguy's Ridiculous 7 Pips Trading System but came across this thread when I was searching other PA threads. After doing some reading I'm finding it very helpful for trading Supply and Demand areas and trading with the momentum.
Thanks to Sho for starting the thread I've found his teaching very enlightening though I've only been reading through the thread for a couple of days.

Here's a trade I took on AU this afternoon PB formed at supply area, after market had stalled here around NY open, set SL to 10 pips and TP...
Yeah, pretty setup in the yellow box. Good confluence aera.

Beautiful trade
I hear and I forget. I see and I remember. I do and I understand.
  • #8,870
  • Dec 2, 2011 1:27am Dec 2, 2011 1:27am
you are right good pin bar plus good location but...

we never knew where the channel is , on the first pin we thought channel line is here , on 2nd we thought its here on 3rd we thought its here and on next bar close it was confirmed that it was on 3rd pb ,

so we got 2 failed pb against trend so is there still any reason to try the 3rd one?



Quoting pipmunks
Here my thought process. See the chart.
Attachment

Too bad i don't manage the trade very well. Choppy market, get in, get out fast

edit : i meant demand level, not supply level
Tough Times Never Last But Tough People Do
  • #8,871
  • Dec 2, 2011 2:16am Dec 2, 2011 2:16am
Quoting loog12us
you are right good pin bar plus good location but...

we never knew where the channel is , on the first pin we thought channel line is here , on 2nd we thought its here on 3rd we thought its here and on next bar close it was confirmed that it was on 3rd pb ,

so we got 2 failed pb against trend so is there still any reason to try the 3rd one?
See how I draw the upper channel line connecting the two swing high, then use the identical line to draw the lower channel line, placed @ low where the upward momentum was strong. You're right, we never knew where the channel is, we only can predict. As long as price respect it, i take the chance.

All PB are not created equally, thats why we not trade solely on candle, we need more confluence (S/D, momentum, pattern, fibs, trend, etc).
  • #8,872
  • Dec 2, 2011 4:24am Dec 2, 2011 4:24am
EU is very slow today. Couldn't see a good entry.

All these wicks.......
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,873
  • Dec 2, 2011 4:32am Dec 2, 2011 4:32am
Hope we will soon break this wedge and go far for a beautiful trend!!!!
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,874
  • Dec 2, 2011 4:38am Dec 2, 2011 4:38am
Quoting boubafx
EU is very slow today. Couldn't see a good entry.

All these wicks.......
I'm agree with you bouba. Hard to trade in this market condition, pre-NFP syndrome.
  • #8,875
  • Dec 2, 2011 4:42am Dec 2, 2011 4:42am
Quoting pipmunks
I'm agree with you bouba. Hard to trade in this market condition, pre-NFP syndrome.
I ask me how to play this wedge break, but i very often burned my wings on this kind of setup. I reallu don't master this setup, so i think i would not join the players, too risky for my taste

I hope we will have a very big break with a very big trend. lets see
I hear and I forget. I see and I remember. I do and I understand.
  • #8,876
  • Dec 2, 2011 4:52am Dec 2, 2011 4:52am
Quoting boubafx
I ask me how to play this wedge break, but i very often burned my wings on this kind of setup. I reallu don't master this setup, so i think i would not join the players, too risky for my taste

I hope we will have a very big break with a very big trend. lets see
How do you play it? I usually don't play the break, but i will try to enter the retracement of wedge break.

Some movement on EU already.
  • #8,877
  • Dec 2, 2011 5:02am Dec 2, 2011 5:02am
yea very slow movment today waiting for nfp and big breakout
i tried a trade but stopped out , not finding any good setup to ride on
as i think our pa trading is meant for treding markets not for choppy sessions.

so after nfp release i think we will get some good setups.

some people play on breakout some on retest , each one has its own pros and cons , if you play retest you may miss the strong move , not every move as retracement , on the other hand there is chance for false breakouts, the best thing is what ever work for you

i prefer retracement play than breakout.
Tough Times Never Last But Tough People Do
  • #8,878
  • Dec 2, 2011 5:15am Dec 2, 2011 5:15am
Quoting boubafx
I ask me how to play this wedge break, but i very often burned my wings on this kind of setup. I reallu don't master this setup, so i think i would not join the players, too risky for my taste

I hope we will have a very big break with a very big trend. lets see
I finally short the retest of the upper line of the wedge.

Scale out in three portions.

It's a M1 entry, i don't like M1, too fast for me, but M5 is too slow today.
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I hear and I forget. I see and I remember. I do and I understand.
  • #8,879
  • Dec 2, 2011 5:24am Dec 2, 2011 5:24am
Hey guys, have you have a bias?

Personnaly i have a short bias. i don't know why but i had always better seen the setup to short than to go long. Down trend is very more clear for me, i see the things fastly and betterin a down trend than in a uptrend where i must refletc more.

I watched my statement and i have twice more short trades than long, and my results are better for short trade that for long.

i would want to know if you have a bias too, i find that interesting

Thanks.
I hear and I forget. I see and I remember. I do and I understand.
  • #8,880
  • Dec 2, 2011 5:25am Dec 2, 2011 5:25am
Quoting boubafx
I finally short the retest of the upper line of the wedge.

Scale out in three portions.

It's a M1 entry, i don't like M1, too fast for me, but M5 is too slow today.
Bravo, what a brave entry
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