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Intraday price action trend trading

  • #9,241
  • Feb 1, 2012 1:24am Feb 1, 2012 1:24am
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,
IMO, the 1st trade was OK but you got the loss. Think about it as the cost to run this business. Not every trade will be a winner so try to be familiar with the small losses (it's not bad if our losses are around 20 - 40 %). I would not take the second trade due to previous red bar. I have no idea about third trade. I think price was forming triangle. If you entered that trade, you should be Break even or small profit. Don't think about big winner as market moved. We didn't know anything at that time.
  • #9,242
  • Feb 1, 2012 4:32am Feb 1, 2012 4:32am
GBP/JPY short
Entry
http://img717.imageshack.us/img717/4...212gbpjpy1.gif
BE
http://img824.imageshack.us/img824/1...212gbpjpy2.gif
Closed
http://img443.imageshack.us/img443/3...212gbpjpy3.gif
  • #9,243
  • Feb 1, 2012 4:45am Feb 1, 2012 4:45am
Quoting simplicity
GBP/JPY short
E
Nice entry and trade management
  • #9,244
  • Feb 1, 2012 4:28pm Feb 1, 2012 4:28pm
Quoting simplicity
GBP/JPY short
Entry

BE

Closed
Very good trade simpli. I like very much your TP place and your stop place .

My thought on your chart
Attached Image (click to enlarge)
Click to Enlarge Name: 010212gbpjpy1.gif Size: 33 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #9,245
  • Feb 2, 2012 3:37am Feb 2, 2012 3:37am
AUD/USD long
Entry
http://img859.imageshack.us/img859/6...212audusd1.gif
Stopped: -10p
http://img401.imageshack.us/img401/8...212audusd2.gif
  • #9,246
  • Feb 2, 2012 4:09am Feb 2, 2012 4:09am
Quoting simplicity
AUD/USD long
Entry

Stopped: -10p
Simply, i give you my thought. i know it's difficult in live, and simplier in insight, but i give you some comments.

I don't want to give you advice,and don't want to criticize your trade .I simply tell you how i see the trade in insight. Each trader see the things differently, nobody is right or wrong.

IMHO, it's good to share our point of view.

Tell me if you don't want i comment your trade, i would stop.

Bouba
Attached Image (click to enlarge)
Click to Enlarge Name: 020212audusd1.gif Size: 25 KB
I hear and I forget. I see and I remember. I do and I understand.
  • #9,247
  • Feb 2, 2012 7:35am Feb 2, 2012 7:35am
Quoting boubafx
Simply, i give you my thought. i know it's difficult in live, and simplier in insight, but i give you some comments.

I don't want to give you advice,and don't want to criticize your trade .I simply tell you how i see the trade in insight. Each trader see the things differently, nobody is right or wrong.

IMHO, it's good to share our point of view.

Tell me if you don't want i comment your trade, i would stop.

Bouba
Hi Bouba,
Feel free to post your comments. We are here together to learn and improve our trading skill. I am not here to prove I am right or wrong. Just learning and trying to take profit from market. Not yet but hope it's not too far

I trade 5M chart so I don't focus much on Higher S/D zone. I focus on "now moment". At that time, momentum was bearish. I was thinking to short until the pin bar but it failed and continued by bullish OB. 2 big bullish bar (previous and after pin bar) were the reason for my entry.
IMO, there were 2 nagative points of my trade:
1. My entry was not far from resistance and a bit risky(I do not often take this kind set up but I did today due to strong momentum)
2. Risk:Reward ratio was not too good.

Anyway, I'll take the trade as long as it meets my risk profile.
Sincerely,

http://img825.imageshack.us/img825/2...0212audusd.gif
  • #9,248
  • Feb 2, 2012 8:50am Feb 2, 2012 8:50am
Took two short trades, first was stopped out for -10 pips second took +30 pips I will try and take screen shots at trade entry in future but I tend to get too focused on what I'm doing to do that.
Attached Image (click to enlarge)
Click to Enlarge Name: 2nd Feb EU 5m Chart.jpg Size: 108 KB
  • #9,249
  • Feb 3, 2012 2:45am Feb 3, 2012 2:45am
Hi all,

Please check my attached trade and comment (time of entry at "A" was 0616 am GMT).

I long'd at point A with the following signals:

1. Price was breaking out and upwards of ranging from before/after GMT 0000. (dotted vertical line).

2. Saw 2 impulsive moves (white box).

3. Waited for retracement at 2nd red box and rejection of price above support between 2nd red box and "A".

4. Long'd at opening of "A", SL at low of previous bar.

5. Stopped out after 3 price bars. Price continues to go down.

Questions:

1. Did I see the impulsive/corrective moves correctly?

2. Was my entry correct?

TIA
Attached Image (click to enlarge)
Click to Enlarge Name: trade 2012 02 03 euraud.gif Size: 26 KB
  • #9,250
  • Feb 3, 2012 5:01am Feb 3, 2012 5:01am
AUD/USD short
Entry
http://img813.imageshack.us/img813/8...212audusd1.gif

Stopped: -5p
http://img545.imageshack.us/img545/6...212audusd2.gif
  • #9,251
  • Feb 3, 2012 6:28am Feb 3, 2012 6:28am
Quoting simplicity
AUD/USD short
Entry
http://img813.imageshack.us/img813/8...212audusd1.gif

Stopped: -5p
http://img545.imageshack.us/img545/6...212audusd2.gif
Hi Simplicity,

I think the setup was good, the market stalled at a supply level there was the big red momentum bar and where you entered there had been 5 inside bars the only thing I might have done differently is to place the SL at the swing high simply because it was still only a 10 pip SL.

I know it's easy after the fact but you could have entered again two bars after you where stopped out.
  • #9,252
  • Feb 3, 2012 6:41am Feb 3, 2012 6:41am
Quoting palmy
Hi all,

Please check my attached trade and comment (time of entry at "A" was 0616 am GMT).

I long'd at point A with the following signals:

1. Price was breaking out and upwards of ranging from before/after GMT 0000. (dotted vertical line).

2. Saw 2 impulsive moves (white box).

3. Waited for retracement at 2nd red box and rejection of price above support between 2nd red box and "A".

4. Long'd at opening of "A", SL at low of previous bar.

5. Stopped out after 3 price bars. Price continues to go down.

Questions:

1....
Hi Palmy,

I don't trade EA because of the spread, but looking at your chart I like to see a positive finish to a impulsive move, with no or very little wick, when there is a big wick, like here, it can indicate a lack of sustained momentum.

Hope this helps keep posting your charts we're here to help one another to improve and by analysing other peoples charts it helps with our own trading.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd Feb EU 5m Chart.png Size: 85 KB
  • #9,253
  • Feb 3, 2012 7:24am Feb 3, 2012 7:24am
Quoting stevepatt
Hi Palmy,

I don't trade EA because of the spread, but looking at your chart I like to see a positive finish to a impulsive move, with no or very little wick, when there is a big wick, like here, it can indicate a lack of sustained momentum.

Hope this helps keep posting your charts we're here to help one another to improve and by analysing other peoples charts it helps with our own trading.
Glaring oversight! Thanks Steve!
  • #9,254
  • Feb 3, 2012 7:55am Feb 3, 2012 7:55am
Quoting stevepatt
Hi Simplicity,

I think the setup was good, the market stalled at a supply level there was the big red momentum bar and where you entered there had been 5 inside bars the only thing I might have done differently is to place the SL at the swing high simply because it was still only a 10 pip SL.

I know it's easy after the fact but you could have entered again two bars after you where stopped out.
Thanks for your comment Steve. I am a little aggressive with my SL. It was a loss but it increased my confidence. As I said before, It'll be acceptable if my loss is around 20-40%. Regarding your second advice, I don't usually entered the trade after the loss. If it wipe me out and then move in my direction, I'll stay aside and say good luck to others. Just my personality.

Have a nice weekend!
  • #9,255
  • Feb 3, 2012 9:04pm Feb 3, 2012 9:04pm
Quoting stevepatt
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.
Hi Steve,

Pardon the newbie question. Where did you enter and why was it a risky entry?
  • #9,256
  • Feb 4, 2012 2:59am Feb 4, 2012 2:59am
Quoting palmy
Hi Steve,

Pardon the newbie question. Where did you enter and why was it a risky entry?
Hi Palmy,

Here's the explaination.
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Feb EU 5m Chart.jpg Size: 121 KB
  • #9,257
  • Feb 6, 2012 7:04am Feb 6, 2012 7:04am
Quoting stevepatt
Hi Palmy,

Here's the explaination.
Thanks Steve. I hope I am getting a better picture on how Sho's PA method works. Looking forward to posting more charts and getting feedback from all.

Cheers
  • #9,258
  • Feb 6, 2012 7:38am Feb 6, 2012 7:38am
Here's another trade:

USD/CHF M5
Long Entry: 0745 GMT
Exit: 0838 GMT
TP: 10 pips (RRR 1:2)

1. Saw a breakout upwards (Point A) after some ranging.

2. Trend was sideways slightly and up from 000 GMT.

3. Wasn't sure which point in the support area to take (between yellow lines)

4. Long'd at point B when price hit upper yellow line and got stopped with 5 pips loss.

5. Long'd at point C again when price hit lower yellow line.

6. TP at point D when TP hit 10 pips.

I think I got lucky in this trade because the 1st corrective move after #A became impulsive move. At #B, that was a bearish impulsive move. I could have got killed by a reversal. Any comments?


Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: trade 2012 02 06 0745 usdchf.gif Size: 29 KB
  • #9,259
  • Feb 6, 2012 7:43am Feb 6, 2012 7:43am
I've got a question here ?.. how do you know it's save to enter when it touch the line ?..
  • #9,260
  • Feb 6, 2012 8:00am Feb 6, 2012 8:00am
Quoting Johnny Depp
I've got a question here ?.. how do you know it's save to enter when it touch the line ?..
If you are referring to the yellow lines. Fibo retracement 38.2% was slightly above the upper yellow line and that area has been touched several times. So I take that as the support area.
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