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Intraday price action trend trading

  • #9,221
  • Jan 27, 2012 11:46am Jan 27, 2012 11:46am
Quoting boubafx
Hey nani, i'm agree with Gravi. If you move your stop biger and bigger, one day or another, you will burn out your account, sure.

Don't let your stop become bigger and bigger. It's too dangerous;

Protect your capital first, move your stop at BE fastly and take some profit fastly.

Nobody knows how many pips he can do after his entry. The only thing you can master is how you manage your trade. Nobody knows where the market will go, NOBODY.

I have notice daytrading after daytrading that you must take what market give you. It turns so...
Hi, Bouba.
I agree. I'll work on it.
Thank you!

Regards, Nani.
"To become a pro you have to think like a pro". Sho
  • #9,222
  • Jan 28, 2012 5:27am Jan 28, 2012 5:27am
I noticed that some Traders like Simplicity and Stevepatt are using clean charts and just read the price.

Others, like boubafx employ very healthy concepts like "capital preservation".

And they are doing it right, markets after all are simple (but not easy).

At the same time, we got a nice "naked daily candles trading" thread called "Beyond the candles".

Maybe the two "methods" could exchange ideas, this thread teaches how to trade intraday very well, the other thread is very very solid naked trading multi-day. A trader following both could acquire nice knowledge tidbits and form his own personal profitable method.
  • #9,223
  • Jan 29, 2012 10:26am Jan 29, 2012 10:26am
Hi buddies,

I have scanned medium term and found some set up. What are yours point of view?

CAD/JPY, H4, short
http://img207.imageshack.us/img207/5742/cadjpy1.gif

http://img718.imageshack.us/img718/1999/cadjpy2.gif

EUR/USD, D1, long
http://img853.imageshack.us/img853/875/eurusd1.gif

GBP/AUD, W1, short
http://img713.imageshack.us/img713/6471/gbpaud1.gif
  • #9,224
  • Jan 29, 2012 1:00pm Jan 29, 2012 1:00pm
Quoting simplicity
Hi buddies,

I have scanned medium term and found some set up. What are yours point of view?

CAD/JPY, H4, short
http://img207.imageshack.us/img207/5742/cadjpy1.gif

http://img718.imageshack.us/img718/1999/cadjpy2.gif

EUR/USD, D1, long
http://img853.imageshack.us/img853/875/eurusd1.gif

GBP/AUD, W1, short
http://img713.imageshack.us/img713/6471/gbpaud1.gif...
Hi Simplicity,

I only trade EU and looking at it right now it could go either way, I've marked on the chart areas I'm looking for market reaction we'll have to wait and see how it plays out.
Attached Image (click to enlarge)
Click to Enlarge Name: 29th Jan D1 Chart.jpg Size: 167 KB
  • #9,225
  • Jan 29, 2012 1:08pm Jan 29, 2012 1:08pm
Quoting dfumagalli
I noticed that some Traders like Simplicity and Stevepatt are using clean charts and just read the price.

Others, like boubafx employ very healthy concepts like "capital preservation".

And they are doing it right, markets after all are simple (but not easy).

At the same time, we got a nice "naked daily candles trading" thread called "Beyond the candles".

Maybe the two "methods" could exchange ideas, this thread teaches how to trade intraday very well, the other...
Hi dfumagalli,

I have read through the Beyond the Candles thread and it looks very interesting, taking monthly and weekly S R levels and trading those levels from lower TFs is similar to what I do using MML the higher the MML the more importance I put on it and then look at the lower TF for PA setups to enter.

The MML do away with having to determine where to place S R lines and they are surprisingly accurate especially on the higher TFs.
  • #9,226
  • Jan 30, 2012 2:27am Jan 30, 2012 2:27am
Good morning, good afternoon everyone.

I monitor AUD/USD and see big red bar but it couldn't break the low and made a higher low. I wonder whether it is exhaustion bar or not. If yes, How should we approach this bar? Thanks

http://img213.imageshack.us/img213/512/exhaustion.gif
  • #9,227
  • Jan 30, 2012 3:58am Jan 30, 2012 3:58am
Quoting simplicity
Good morning, good afternoon everyone.

I monitor AUD/USD and see big red bar but it couldn't break the low and made a higher low. I wonder whether it is exhaustion bar or not. If yes, How should we approach this bar? Thanks

http://img213.imageshack.us/img213/512/exhaustion.gif
Hi Simplicity,

Easy now I know, but market has been down from a supply level and it's going to take good support to halt the move down. This is just how I see it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30th Jan AU 5m Chart.jpg Size: 75 KB
Click to Enlarge Name: 30th Jan AU 4h Chart.jpg Size: 91 KB
  • #9,228
  • Jan 30, 2012 7:41am Jan 30, 2012 7:41am
Quoting stevepatt
Hi Simplicity,

Easy now I know, but market has been down from a supply level and it's going to take good support to halt the move down. This is just how I see it.
What would you do at that time? Would you go long? Wait for short set up? or stand aside? I know it was totally a downtrend. But if the big red bar was an exhaustion bar, could we consider it as the signal of reversal and start to think about long trade? I have bad experience in counter trend trading so I just monitor and learn only.
  • #9,229
  • Jan 30, 2012 8:17am Jan 30, 2012 8:17am
Quoting simplicity
Good morning, good afternoon everyone.

I monitor AUD/USD and see big red bar but it couldn't break the low and made a higher low. I wonder whether it is exhaustion bar or not. If yes, How should we approach this bar? Thanks
Hello Simpli,

my thought on your questions.

Look the chart
Attached Image (click to enlarge)
Click to Enlarge Name: exhaustion.gif Size: 30 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #9,230
  • Jan 30, 2012 8:17am Jan 30, 2012 8:17am
Took two short trades on EU in direction of trend at short term resistance, I've been watching Sho's videos on YuoTube and he uses short term support and resistance to enter trades early and then exit at next area of S or R
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30th Jan EU 5m Chart.jpg Size: 89 KB
Click to Enlarge Name: 30th Jan EU 1h Chart.jpg Size: 96 KB
  • #9,231
  • Jan 30, 2012 8:23am Jan 30, 2012 8:23am
Quoting stevepatt
Took two short trades on EU in direction of trend at short term resistance, I've been watching Sho's videos on YuoTube and he uses short term support and resistance to enter trades early and then exit at next area of S or R
Good play Steve

It's good you keep this excellent thread alive.

Your posts are very good quality
I hear and I forget. I see and I remember. I do and I understand.
  • #9,232
  • Jan 30, 2012 8:24am Jan 30, 2012 8:24am
Quoting simplicity
What would you do at that time? Would you go long? Wait for short set up? or stand aside? I know it was totally a downtrend. But if the big red bar was an exhaustion bar, could we consider it as the signal of reversal and start to think about long trade? I have bad experience in counter trend trading so I just monitor and learn only.
I think boubafx is spot on with his appraisal, I certainly wouldn't have been looking to go long.
  • #9,233
  • Jan 30, 2012 9:32am Jan 30, 2012 9:32am
http://savepic.su/1180280m.gifhttp://savepic.su/1184376m.gif

http://savepic.su/1243771m.gif

http://savepic.su/1222267m.gifhttp://savepic.su/1241723m.gif
"To become a pro you have to think like a pro". Sho
  • #9,234
  • Jan 30, 2012 9:33am Jan 30, 2012 9:33am
Quoting stevepatt
Took two short trades on EU in direction of trend at short term resistance, I've been watching Sho's videos on YuoTube and he uses short term support and resistance to enter trades early and then exit at next area of S or R
Hi Steve,

You are taking too much pips

I zoomed in your first trade. IMO, momentum was up at that time, price was breaking downtrend. See that chart as real time.
http://img205.imageshack.us/img205/5...neu5mchart.jpg
  • #9,235
  • Jan 30, 2012 9:33am Jan 30, 2012 9:33am
http://savepic.su/1219195m.gifhttp://savepic.su/1206907m.gif
"To become a pro you have to think like a pro". Sho
  • #9,236
  • Jan 30, 2012 9:37am Jan 30, 2012 9:37am
http://savepic.su/1208955m.gifhttp://savepic.su/1192571m.gifhttp://savepic.su/1182331m.gif

http://savepic.su/1187451m.gif

http://savepic.su/1244794m.gif
"To become a pro you have to think like a pro". Sho
  • #9,237
  • Jan 30, 2012 10:03am Jan 30, 2012 10:03am
Quoting simplicity
Hi Steve,

You are taking too much pips

I zoomed in your first trade. IMO, momentum was up at that time, price was breaking downtrend. See that chart as real time.
http://img205.imageshack.us/img205/5...neu5mchart.jpg
Hi Simplicity,

Your right it was a risky trade to take but it allowed me to get away with an 8 pip SL so I thought the risk to reward was worth it. In hind sight I should have let it go and waited for a better set up but at least it was with the trend.
Attached Image (click to enlarge)
Click to Enlarge Name: 30th Jan EU 5m Chart 2.jpg Size: 84 KB
  • #9,238
  • Jan 31, 2012 4:20am Jan 31, 2012 4:20am
AUD/USD long

Entry
http://img96.imageshack.us/img96/8465/310112audusd1.gif

Low momentum so closed the trade with 4p
http://img804.imageshack.us/img804/7...112audusd3.gif
  • #9,239
  • Jan 31, 2012 3:19pm Jan 31, 2012 3:19pm
Hi all!

I have three questions about today EU m15. First of all look at my chart plz.

1) I entered long at 1.3196 (marked bar with number 1), SL 2 pips below the low of bar and TP at 1.3215. The direction of Keltner Channel was ok (uptrend), it was corrective move (I thought so) and looked like the price bounced from 50% fibo. Unfortunatelly I lost. What do you think? Is it a good entry? If not, what was wrong?

2) Second marked bar. Did somebody entry buy?

3) Third marked bar. Isn't it A++ setup?

Thanks for your attention.
Attached Image
  • #9,240
  • Jan 31, 2012 7:34pm Jan 31, 2012 7:34pm
Quoting Laziale
Hi all!

I have three questions about today EU m15. First of all look at my chart plz.

1) I entered long at 1.3196 (marked bar with number 1), SL 2 pips below the low of bar and TP at 1.3215. The direction of Keltner Channel was ok (uptrend), it was corrective move (I thought so) and looked like the price bounced from 50% fibo. Unfortunatelly I lost. What do you think? Is it a good entry? If not, what was wrong?

2) Second marked bar. Did somebody entry buy?

3) Third marked bar. Isn't it A++ setup?

Thanks for your attention.
Hi Laziale,
I try to answer but remember, its always easy judging hindsight

to 1: for me it is a valid long but i was waiting for a short at this point, cause EURUSD had a long ralley from the 1.3080 to 1.3200
1.3200 was a tripple top and not so easy to break,

to 2: after breakout failed to close above the 1.3200?
if you satified with a small scalp , a few pips to the 3200 point its OK.
But for me the Momentum was not clear, i dit not take this long i was still waiting for a short signal

to 3: Lunchtime in Frankfurt, no trade before NY open and watch the Newstime 14:30 always a bit danger. I do not trade before 15:00 Frankfurt Time
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-0001.gif Size: 59 KB
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