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  • #9,121
  • Dec 30, 2011 11:52am Dec 30, 2011 11:52am
Quoting eurovitz
Just found this thread and have read about 75% of Mr. Sho's first thread. Many thanks. It may be the best on the web regarding price action. Could Mr. Sho or any of the experienced members answer this query. I noticed that sometimes Mr. S. will enter on a rejection of a Keltner line even tho the bar is opposite to the trend. For example in an uptrend he will often enter on the close of a red bar. Do most enter this way or would most wait for confirmation ie a green bar rejection from a Keltner line resuming the direction of the dominant trend or...
Welcom and Happy New Year to you too,
this is how i trade this methode:
short or long depends on the momentum, the impulsive wave !

In this trade, i took, the long red bar and the smaller on the left shows big downward momentum.
On the corrective move, the 1. green candle i go short close of this candle close to the topextrem of this candle.
This green candle is bigger then the former red so it is an outsize bar.
The top of this bar is a very good place to plan your stoploss, very little loss if happens
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  • #9,122
  • Dec 30, 2011 1:02pm Dec 30, 2011 1:02pm
Thank you for your reply. So, to me (newbie, of course) this seems an aggressive entry since you are going short on a green candle and the middle K line is still pretty flat. Also at the time you went short there is no K line rejection via pin bar or inside bar for confirmation. Please excuse my comments but I just want to gain a clear understanding. Will re-read the initial thread.

BTW would it be ok if I sometimes post some charts and asked questions? I am sim trading with eurofutures and crude oil. Thanks again.
  • #9,123
  • Dec 30, 2011 1:19pm Dec 30, 2011 1:19pm
Hope this isn't against the rules. Is this entry following Mr. Sho's rules?
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  • #9,124
  • Dec 31, 2011 2:53am Dec 31, 2011 2:53am
Quoting eurovitz
Thank you for your reply. So, to me (newbie, of course) this seems an aggressive entry since you are going short on a green candle and the middle K line is still pretty flat. Also at the time you went short there is no K line rejection via pin bar or inside bar for confirmation. Please excuse my comments but I just want to gain a clear understanding. Will re-read the initial thread.

BTW would it be ok if I sometimes post some charts and asked questions? I am sim trading with eurofutures and crude oil. Thanks again.
looks like aggressive, yes, but for me it was a so callled no brainer trade.
Look at the whole situation:
a 100 pip move to the 1.3000 level in short time,
thin market,
time of the day,
last day of the year, could it go higher?

very little chance.
so only the short for me counts and the very first correction was good enoght for me to take
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  • #9,125
  • Dec 31, 2011 6:37am Dec 31, 2011 6:37am
Quoting MJurban
looks like aggressive, yes, but for me it was a so callled no brainer trade.
Look at the whole situation:
a 100 pip move to the 1.3000 level in short time,
thin market,
time of the day,
last day of the year, could it go higher?

very little chance.
so only the short for me counts and the very first correction was good enoght for me to take
As for me it wouldnt be any trade last day of the year...just stay aside
Happy New Year to All of You!!))
  • #9,126
  • Dec 31, 2011 8:03am Dec 31, 2011 8:03am
Quoting MJurban
looks like aggressive, yes, but for me it was a so callled no brainer trade.
Look at the whole situation:
a 100 pip move to the 1.3000 level in short time,
thin market,
time of the day,
last day of the year, could it go higher?

very little chance.
so only the short for me counts and the very first correction was good enoght for me to take
Thanks for your reply, MJurban. congrats on the trade. Any comments on my chart would be appreciated. btw after going 15 pips lower came back and I was out at BE+1 pip.
  • #9,127
  • Jan 1, 2012 10:15am Jan 1, 2012 10:15am
Happy New Year to one and all! I would appreciate some input from those with experience with Mr. Sho's method as to how they would trade the following trade scenarios.

You see a big bullish impulse wave then a decent pullback (corrective wave) to recent resistance which holds. The last candle is

a) bullish pin bar with a low just above mid K line

b) bullish bar but not a bullish pin bar with a low that just pierces mid K line

c) bearish bar where the close is just below the mid K line. Thanks in advance to anyone who wishes to provide some guidance to someone trying to learn this method.
  • #9,128
  • Jan 3, 2012 2:58am Jan 3, 2012 2:58am
Quoting eurovitz
Happy New Year to one and all! I would appreciate some input from those with experience with Mr. Sho's method as to how they would trade the following trade scenarios.

You see a big bullish impulse wave then a decent pullback (corrective wave) to recent resistance which holds. The last candle is

a) bullish pin bar with a low just above mid K line

b) bullish bar but not a bullish pin bar with a low that just pierces mid K line

c) bearish bar where the close is just below the mid K line. Thanks in advance to anyone who wishes to provide some...
Welcome eurovitz,
I am also a student of "Sho's method" as far as a level of experience --- I consider myself a novice ---- so taking that in mind I will try and answer your question.

I use the K lines as a guide and 1 part of the puzzle (many of the more experienced traders don't have them on their charts). I would check the impulse count number (I like 1st and 2nd better but I will take trades after the 2nd). I also would see if the bull impulse wave stopped at a supply level or round number. This might make it a lower probability trade. Then I would see how much retrace it made from the beginning of the move -- 50 to 61% fibb retrace is a higher probability and safer trade seeing that the big $$ is looking at the same area. Also I would look see if this was a recent resistance now turned surport noting several bars back ( which in this scenerio it does). And don't forget any large bars in the immediate vicinity -- exhaustive bull bar or a change of momentum red bar.

Seeing that it did retrace back to the mid K-line it probably is at least 38% retrace so I would consider it a decent correction and be looking for a buy entry.

So with all of that in mind ---

For A --I would definately buy the a PB with the stop below the PB if the stop amount met my criteria. Feeling that the bulls have shown their hand and retook control and that is the start of a new impulse wave. Stop is safety net incase I'm wrong. Can always get back in again.

For B -- I would buy depending on the candle formation. If it was an outside bar I would buy on the close of the bar if it met my stop requirement otherwise I would work an order on the retrace of the bar where it met my stop requirement. If it was an inside bar I would buy on the breakout of the top of the bar ( by a couple of pips) if it met my stop requirement. Again feeling that the bulls are rentering the market here and that it is a start of a new impulse wave. (Also I probably would buy a bull reversal bar if the momentum diddnt change direction -- thinking that buyers are reentering the market ---though I have been stung on that many times.)

For C -- I would stay away feeling that the bears still are in contron and that the corrective wave is still in progress.

But if it was a bearish PB with a 50 to 61 % retrace of the recent impulse move then I would consider buying if the stop was tight.

I hope this helps in some way and also would appreciate any additional comments if I am seeing/viewing this wrong or if I missed something. Joe
  • #9,129
  • Jan 3, 2012 4:34am Jan 3, 2012 4:34am
My first Trade this year.

In EUR/USD i was looking at the outsidebar, two insidebar followed. I took the break ot the second IB with a small TP at 1,2999 because it ist a setup i dont play often. As you see, it could have been much more. Hope someone did get it for a longer time and made some pips.
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  • #9,130
  • Jan 3, 2012 4:38am Jan 3, 2012 4:38am
Took this long EU trade based on a shift in momentum on the 1h chart, there was a strong move up and then a small correction before taking off long again.
I went down to the 5m chart for entry.
Attached Image(s) (click to enlarge)
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  • #9,131
  • Jan 3, 2012 7:14am Jan 3, 2012 7:14am
Just a little visit to wish you the best for you in this 2012 year.

Happy that my first 2012's trade is a winner
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I hear and I forget. I see and I remember. I do and I understand.
  • #9,132
  • Jan 3, 2012 9:33am Jan 3, 2012 9:33am
Quoting jozone1
Welcome eurovitz,
I am also a student of "Sho's method" as far as a level of experience --- I consider myself a novice ---- so taking that in mind I will try and answer your question.

I use the K lines as a guide and 1 part of the puzzle (many of the more experienced traders don't have them on their charts). I would check the impulse count number (I like 1st and 2nd better but I will take trades after the 2nd). I also would see if the bull impulse wave stopped at a supply level or round number. This might make it a lower probability trade....
thank you for your analysis.
  • #9,133
  • Jan 3, 2012 9:40am Jan 3, 2012 9:40am
Took this long trade on EU, corrective move found support and entered long with momentum exited for 20 pips at resistance.
Attached Image (click to enlarge)
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  • #9,134
  • Jan 3, 2012 1:25pm Jan 3, 2012 1:25pm
Quoting boubafx
Just a little visit to wish you the best for you in this 2012 year.

Happy that my first 2012's trade is a winner
Hi bouba

i wish the best for you and everyone else as well!

Would you please be so nice and give a little explanation on your tade? For me it looks like a countertrend trade long, but i dont see a signal.

Hope to learn something
  • #9,135
  • Jan 3, 2012 1:32pm Jan 3, 2012 1:32pm
Quoting stevepatt
Took this long trade on EU, corrective move found support and entered long with momentum exited for 20 pips at resistance.
Hi stevepatt

i think you made some pips today

thanks for your charts! i enjoyed reading them
  • #9,136
  • Jan 3, 2012 2:45pm Jan 3, 2012 2:45pm
Quoting Clean Chart
Hi bouba

i wish the best for you and everyone else as well!

Would you please be so nice and give a little explanation on your tade? For me it looks like a countertrend trade long, but i dont see a signal.

Hope to learn something
Hello clean,

look the chart
Attached Image (click to enlarge)
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I hear and I forget. I see and I remember. I do and I understand.
  • #9,137
  • Jan 3, 2012 5:04pm Jan 3, 2012 5:04pm
Happy new year to all of you..i wish all of you success in comin years..
Regards
Your Friend -sho-
  • #9,138
  • Jan 4, 2012 2:31am Jan 4, 2012 2:31am
Took this long trade from bottom of 5m GOLD channel after 5m PB at BLUE S R level with a 10 pip SL that put me below the channel and S R level, I exited at YELLOW S R level for 25 pips.

I like to look for PA and set ups around these areas to enter and use them as targets for TPs
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4th Jan EU 5m Chart.jpg Size: 88 KB
  • #9,139
  • Jan 4, 2012 2:35am Jan 4, 2012 2:35am
Quoting trade price
Happy new year to all of you..i wish all of you success in comin years..
Regards
Your Friend -sho-
Happy New Year to you Sho and to all followers of this very informative thread
  • #9,140
  • Jan 4, 2012 3:33am Jan 4, 2012 3:33am
Quoting stevepatt
Took this long trade from bottom of 5m GOLD channel after 5m PB at BLUE S R level with a 10 pip SL that put me below the channel and S R level, I exited at YELLOW S R level for 25 pips.

I like to look for PA and set ups around these areas to enter and use them as targets for TPs
excellent trade and explanation


happy new year to all
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