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Intraday price action trend trading

  • #9,061
  • Dec 9, 2011 4:30am Dec 9, 2011 4:30am
Quoting simplicity
GBP/USD long

Entry


Closed: +18p
Good one
  • #9,062
  • Dec 9, 2011 4:38am Dec 9, 2011 4:38am
Quoting Buildcity
Good one
Thanks City. I am trying not to go against momentum
  • #9,063
  • Dec 9, 2011 4:40am Dec 9, 2011 4:40am
Quoting Buildcity
Good one
Good trade by aother city ~ Simplicity

Don't make your trading plan in complicated way, KISS

Chart..
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  • #9,064
  • Edited 5:24am Dec 9, 2011 5:12am | Edited 5:24am
Quoting Buildcity
Good trade by aother city ~ Simplicity

Don't make your trading plan in complicated way, KISS

Chart..
May be most of you guys (gals) know what is the core idea of Sho's thread, the GU trade right now is exactly demo the same.

For those new comers here.

I'm not a good trader like you, but I'm just the old timer here.

Add ~ while I finish this post, the great green candle just go through all blue levels
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  • #9,065
  • Dec 9, 2011 5:23am Dec 9, 2011 5:23am
Timing is another consideration, lunch time is to be in Euro / London, big guys are going to close orders. So be careful.

Fri today too, don't go for crazy guess on top and bottom, could be a one way ticket.
  • #9,066
  • Dec 9, 2011 5:30am Dec 9, 2011 5:30am
Sorry, I made too many noise today, I'll stop now
  • #9,067
  • Dec 9, 2011 5:54am Dec 9, 2011 5:54am
Quoting Buildcity
Sorry, I made too many noise today, I'll stop now
Thanks for the insight into the way you trade it's helping me a lot with how to read the market.
I've only been following this thread for about a week but spent some time reading about Sho's method and it adds greatly to the way I've been trading, which has always been based on PA, but I have needed a greater understanding of how PA works and this thread is providing that knowledge.
  • #9,068
  • Dec 9, 2011 7:18am Dec 9, 2011 7:18am
Took this long trade when market moved with strong momentum to break resistance. Entered with a 10 pip SL and took 40 pips TP short of supply level.
Also took a quick scalp trade from top of pennant after market was reluctant to go higher around a big RN had a 10 pip SL and a 15 pip TP.
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  • #9,069
  • Dec 12, 2011 2:04am Dec 12, 2011 2:04am
Took this short trade after bearish momentum and entered on retrace to lower Keltner line. Set a 10 pip SL and 15 pip TP I moved the SL to +2 after market had moved +10 pips.
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  • #9,070
  • Edited Dec 14, 2011 9:42pm Dec 12, 2011 2:43am | Edited Dec 14, 2011 9:42pm
Quick Scalp risk was 4.5 to make 9. Jumped the gun just to take a quick profit.
  • #9,071
  • Dec 12, 2011 3:15am Dec 12, 2011 3:15am
Bottom up from demand level, almost killed

H1 & M15 charts
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  • #9,072
  • Dec 12, 2011 3:39am Dec 12, 2011 3:39am
Nice trade City, Would you have considered reversing there and getting short on the close of the PB with the bounce off the 50% retrace even though it is close to the demand area? Thanks Joe
  • #9,073
  • Dec 12, 2011 3:52am Dec 12, 2011 3:52am
Quoting jozone1
Nice trade City, Would you have considered reversing there and getting short on the close of the PB with the bounce off the 50% retrace even though it is close to the demand area? Thanks Joe
Yes, the overall trend is still down but whether to take the trend trading in front of a major demand zone is up to your choice. Running in a demand or supply zone is pretty annoy for a condition of up and down (consolidation).

Go for another pair without the influence of demand/supply zone should be a better choice.
  • #9,074
  • Dec 12, 2011 3:56am Dec 12, 2011 3:56am
Took another short trade after more bearish momentum, entered when retrace failed to break lower Keltner line. Plan again was for a 10 pip SL and move to +2 after market moves to +10 but didn't get the chance it moved so quick.

I really like this method of trading it's giving me well defined entry signals I'm going for at least a 1:1.5 RR.
Attached Image (click to enlarge)
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  • #9,075
  • Dec 12, 2011 4:01am Dec 12, 2011 4:01am
Quoting Buildcity
Yes, the overall trend is still down but whether to take the trend trading in front of a major demand zone is up to your choice. Running in a demand or supply zone is pretty annoy for a condition of up and down (consolidation).

Go for another pair without the influence of demand/supply zone should be a better choice.
Thanks thats what I thought but I figure it never hurts to ask. That is still one of my biggest problems -- not identifying the S/D areas properly. Hopefully with time, practice and patience.
  • #9,076
  • Dec 12, 2011 4:02am Dec 12, 2011 4:02am
Quoting stevepatt
Took another short trade after more bearish momentum, entered when retrace failed to break lower Keltner line. Plan again was for a 10 pip SL and move to +2 after market moves to +10 but didn't get the chance it moved so quick.

I really like this method of trading it's giving me well defined entry signals I'm going for at least a 1:1.5 RR.
Nice trade

But EU is really get into trouble right now (in demand zone). Better stay aside.

Add : also the channel base line, if you are channel player
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  • #9,077
  • Dec 12, 2011 4:33am Dec 12, 2011 4:33am
haham GB is rocket rise but Euro is struggling. So these pairs are not always twins.
  • #9,078
  • Dec 12, 2011 4:42am Dec 12, 2011 4:42am
GB and Euro
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  • #9,079
  • Dec 12, 2011 6:23am Dec 12, 2011 6:23am
I am still trying to learn to use this method of trading, but I am really struggling with how to decide when to enter. I have gone through at least 30% of this post and I like the idea and ive had some minor success. But I chalk alot of that up to luck since I know that I do not fully understand this method.

Anyone have some general pointers so that I can wrap my head around this method?
  • #9,080
  • Dec 12, 2011 7:54am Dec 12, 2011 7:54am
Read the first thread of the sho , he has described very well in full detail about the method

This method is not 100% winning , we have days some times when we dont make any thing but loose , but when we make , we make it for the whole week.

Few thing you have to stick with , always calculate your risk dont risk more than 2% of your equity , take all the trades that your system gives dont hesitate after a lossing trading , pull the trigger when ever you see the setup , dont take loss as a pain , if you will stick with these basic principles you will eventually cover your losses in 2-3 trades , when you have a winning day . Regarding the method you have to go through the first thread of sho to completely understand the method.

Quoting xcasper
I am still trying to learn to use this method of trading, but I am really struggling with how to decide when to enter. I have gone through at least 30% of this post and I like the idea and ive had some minor success. But I chalk alot of that up to luck since I know that I do not fully understand this method.

Anyone have some general pointers so that I can wrap my head around this method?
Tough Times Never Last But Tough People Do
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