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Intraday price action trend trading

  • #9,001
  • Dec 7, 2011 7:47am Dec 7, 2011 7:47am
Quoting pipmunks
. I spot that setup as well, but didn't take it. I'm using EG only as reference.
Ex: EU & GU show bullish movement & i'm waiting for long setup. So i check EG. If EG bullish, i prefer long on EU rather than GU. Same as opposite.
Thx Pipmunks

Like you trade i´m trading stocks in higher timeframes (daily). And looking at fundamentals as well. Maybe it is not trading but investing what i do

In this timeframe (15min) i´m just looking at my 15 min chart (the little window like my screenshot). Trying to ignore fundamentals and not watching news. Because i dont want to trade what i think, just want to trade what the chart tells me right now.

I dont know if that is the best way, but right now it works for me.
  • #9,002
  • Dec 7, 2011 7:53am Dec 7, 2011 7:53am
Quoting xcasper
Thank you for the notes... If anyone has a second to look at the EU again... if the current bar (9:15 am GMT). if the current bar closes blue and back above the bottom of the kentler channel would this be a buy signal?

ill post a pic asap

EDIT: Added picture attachment
Hi Xcasper,

This is a bit late I now but I've only just got in.
When I saw the big bear candle on the 15m TF I went to the 5m chart and looked for an oppertunity to go short. I tend to look for momentum on the 15m chart and then drop to the 5m for entry.
Attached Image (click to enlarge)
Click to Enlarge Name: 7th Dec EU 5m Chart.jpg Size: 100 KB
  • #9,003
  • Dec 7, 2011 8:37am Dec 7, 2011 8:37am
1:1 scalping trade, flag and above 50% Fib

caught $3 in 2 mins
Attached Image (click to enlarge)
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  • #9,004
  • Dec 7, 2011 8:54am Dec 7, 2011 8:54am
Wait for a counter trend trade
http://img11.imageshack.us/img11/3051/83318760.gif
  • #9,005
  • Dec 7, 2011 9:13am Dec 7, 2011 9:13am
Market bounced exactly at trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: 7th Dec EU D1 Chart.jpg Size: 84 KB
  • #9,006
  • Dec 7, 2011 9:15am Dec 7, 2011 9:15am
closd eu long for +15

was a good demand zone hit for cT trade. tped quite fast too

forgive the unfinished square it was half done when i wanted to go long
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #9,007
  • Dec 7, 2011 9:15am Dec 7, 2011 9:15am
Quoting simplicity
Wait for a counter trend trade
Already in after seeing reaction from 1.3350 zone. Might be only scalp.
Attached Image (click to enlarge)
Click to Enlarge Name: 19.jpg Size: 91 KB
  • #9,008
  • Dec 7, 2011 9:42am Dec 7, 2011 9:42am
Quoting pipmunks
Already in after seeing reaction from 1.3350 zone. Might be only scalp.
Attachment
There's resistance above that's putting me of going long at the moment.
  • #9,009
  • Dec 7, 2011 9:43am Dec 7, 2011 9:43am
1:1 trade again, momentum changed down between the oil news, right after no major different. So go with implusive move. +$3 again. Shit, still going down.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-07_2339.png Size: 28 KB
  • #9,010
  • Dec 7, 2011 9:47am Dec 7, 2011 9:47am
Quoting stevepatt
There's resistance above that's putting me of going long at the moment.
Similar in EJ, in long at the moment.., but struggling aronnd the r/n
Attached Image (click to enlarge)
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  • #9,011
  • Dec 7, 2011 9:51am Dec 7, 2011 9:51am
Quoting Buildcity
1:1 trade again, momentum changed down between the oil news, right after no major different. So go with implusive move. +$3 again. Shit, still going down.
U are a truly scalper .
I have this kind of mentality, want to hold my trade as long as i can, trying to catch bigger movement. Sometimes it works well, sometimes not especially in choppy & slow market. Really annoys me, often lead me making bad decision that i regret later. Is there any advice for this kind of mentality?
  • #9,012
  • Dec 7, 2011 10:03am Dec 7, 2011 10:03am
Quoting pipmunks
U are a truly scalper .
I have this kind of mentality, want to hold my trade as long as i can, trying to catch bigger movement. Sometimes it works well, sometimes not especially in choppy & slow market. Really annoys me, often lead me making bad decision that i regret later. Is there any advice for this kind of mentality?
Tks mate, really don't know why I traded like this but because of personality I think, its nature.

Been tried to trade longer time frame but didnt work out, may be I have no patience at all, I trust.

Find a way to fit your own personality, I do think so.

I enjoy 50p a day for few trades, good enough for a part time trader. May be its the key, look for less, you will feel much better when trading in progress. Get better hitting rate as well. Feel good!!
  • #9,013
  • Dec 7, 2011 10:05am Dec 7, 2011 10:05am
Quoting Buildcity
Similar in EJ, in long at the moment.., but struggling aronnd the r/n
pretty slow...................., after the closing of Euro. May keep bit longer before London closing.
  • #9,014
  • Dec 7, 2011 10:11am Dec 7, 2011 10:11am
We had strong demand from this area yesterday it's slowly breaking through the resistance.
I did consider going long but discretion got the better of me.
Attached Image (click to enlarge)
Click to Enlarge Name: 7th Dec EU 15m Chart 2.jpg Size: 113 KB
  • #9,015
  • Dec 7, 2011 10:17am Dec 7, 2011 10:17am
Quoting stevepatt
We had strong demand from this area yesterday it's slowly breaking through the resistance.
I did consider going long but discretion got the better of me.
Tks mate, did close with +3p only, the PA didnt seem good at all, better quit with positive.
  • #9,016
  • Dec 7, 2011 10:21am Dec 7, 2011 10:21am
Quoting Buildcity
Tks mate, really don't know why I traded like this but because of personality I think, its nature.

Been tried to trade longer time frame but didnt work out, may be I have no patience at all, I trust.

Find a way to fit your own personality, I do think so.

I enjoy 50p a day for few trades, good enough for a part time trader. May be its the key, look for less, you will feel much better when trading in progress. Get better hitting rate as well. Feel good!!
City, how you overcome the feeling if you closed your trade, but market goes your way for more? This kind of feeling makes me want to open a forced trade/chasing the market.

You have the patience.....for waiting the setup to occur . Not to holding on to the trade
  • #9,017
  • Dec 7, 2011 10:28am Dec 7, 2011 10:28am
For those of you that like symmetry.
Attached Image (click to enlarge)
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  • #9,018
  • Dec 7, 2011 10:29am Dec 7, 2011 10:29am
Quoting pipmunks
City, how you overcome the feeling if you closed your trade, but market goes your way for more? This kind of feeling makes me want to open a forced trade/chasing the market.

You have the patience.....for waiting the setup to occur . Not to holding on to the trade
Yes, this question I did ask myself many times. Always wanted to let the trade run bigger and bigger, but always finally I got negative or BE out. So the conclusion for me now is to keep the little 10 or 20, much easier to arrive my little target 50 a day and off the computer. That is.
  • #9,019
  • Dec 7, 2011 10:38am Dec 7, 2011 10:38am
Quoting Buildcity
Yes, this question I did ask myself many times. Always wanted to let the trade run bigger and bigger, but always finally I got negative or BE out. So the conclusion for me now is to keep the little 10 or 20, much easier to arrive my little target 50 a day and off the computer. That is.
The secret I think is in getting as small a SL as possible and going for at least 1:1.5 RR. Today I've made 15 pips but that was a 1:3 RR hence my reluctance to take the long EU trade earlier.
It's having the patience to wait for the optimum setup to come along, the only time I get into real trouble with my trading is when I start forcing trades, because of limited trading time, instead of waiting for them to come to me. I have also tried trading bigger TFs but I haven't got the patience for it either I like to see a winner or loser as soon as possible and move on.
  • #9,020
  • Dec 7, 2011 10:38am Dec 7, 2011 10:38am
Quoting Buildcity
Yes, this question I did ask myself many times. Always wanted to let the trade run bigger and bigger, but always finally I got negative or BE out. So the conclusion for me now is to keep the little 10 or 20, much easier to arrive my little target 50 a day and off the computer. That is.
Like today, 4 trades only, 2 good setup in Gold did make my day. other 2 were bonus.

- Good setup you have more than 50% winning ratio;
- Keep out of any trade when news come;
- Demand and Supply / support and resistance as a reference, but let the momentum leads your trade.

Quite a few line can describe how I trade now. KISS
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