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Intraday price action trend trading

  • #9,701
  • May 2, 2012 9:06am May 2, 2012 9:06am
Quoting khairul81
Hi Alec,You are getting better everyday but for this chart if u look closely there was an a small inside bar after the 2 bar down(impulsive) which formed at fib 50% level of previous move.Maybe you saw it but was not at the computer at the time.

Kai
Hey Kai! Thanks. How are you doing?
If you are talking about EJ, I didn't like ADR at that time. That's why I didn't take the trade. And also I didn't like that green bar bounced back almost covering previous red bar.
So, how are things? Not much activity here lately. Where is everybody? Nobody trades on 15M anymore? Sometimes I see more 5M setups during a day, but rules are rules, you know.
Look for reasons not to take a trade.
  • #9,702
  • May 2, 2012 10:01am May 2, 2012 10:01am
Hi Alec,people will come n go in every thread but just keep posting ur trades bcos Sho is always checking up on us..Everybody is different when choosing timeframe so whatever is comfortable to u is your choice.
  • #9,703
  • May 2, 2012 10:04am May 2, 2012 10:04am
When we are trading with intraday trend lets not forget about higher TF trends

Good article to read in my opinion.
Look for reasons not to take a trade.
  • #9,704
  • May 2, 2012 10:10am May 2, 2012 10:10am
Quoting khairul81
Hi Alec,people will come n go in every thread but just keep posting ur trades bcos Sho is always checking up on us..Everybody is different when choosing timeframe so whatever is comfortable to u is your choice.
You're right. Lets focus on our goals
Look for reasons not to take a trade.
  • #9,705
  • May 2, 2012 10:13am May 2, 2012 10:13am
I think its pretty easy to the setup..
Attached Image(s) (click to enlarge)
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  • #9,706
  • May 2, 2012 10:58am May 2, 2012 10:58am
Hello Alec & Kai, how r doing?

I'm struggle a bit after my laptop crash, all my data has gone, include my pre-drawn zones & level for each chart plus my trading account password . Fortunately, i have password backup on my email account (encrypted ofc). Lesson learned , back up your chart templates too .
  • #9,707
  • Edited May 3, 2012 4:40am May 2, 2012 10:10pm | Edited May 3, 2012 4:40am
Hi All..
Today trade at EU & GU..
Please u'r opinion..

Mr. Sho, where are you?

regards,
Lim

up date: GU SL -8pip..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU 03052012.png Size: 23 KB
Click to Enlarge Name: GU 03052012.png Size: 25 KB
  • #9,708
  • May 2, 2012 11:45pm May 2, 2012 11:45pm
Hi Lim,u took good trades.Iny opinion,once u see the reverse pin bar after ur entry thats not a good sign so u should have put it to breakeven.Try to aim for 4 or 5 pips first until u learn to trust your method.There was also divergence too if u notice for both charts.

Kai
  • #9,709
  • May 3, 2012 12:32am May 3, 2012 12:32am
Quoting xyzxyz
Hi All..
Today trade at EU & GU..
Please u'r opinion..

Mr. Sho, where are you?

regards,
Lim
Hi Lim

When you took the EU trade the market had only moved about 18 pips, since the daily open. When trading the EU, I've found it better to wait for the market to have moved about 40 pips before looking for trades because this gives the trade room to move.
I must admit I'm guilty of taking trades before this but have found best results after the EU has moved 40 pips or so.
  • #9,710
  • May 3, 2012 1:59am May 3, 2012 1:59am
Short GU.
Price found fresh supply, making cluster pattern ended with PB. Enter on PB breakdownside.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.PNG Size: 11 KB
  • #9,711
  • May 3, 2012 2:59am May 3, 2012 2:59am
Quoting pipmunks
Hello Alec & Kai, how r doing?

I'm struggle a bit after my laptop crash, all my data has gone, include my pre-drawn zones & level for each chart plus my trading account password . Fortunately, i have password backup on my email account (encrypted ofc). Lesson learned , back up your chart templates too .
Hi Pipmunks,
Doing OK. Working on my trend setups everyday.Thanks for asking.
I'm sorry to hear about your laptop. We have several options now to store the data: Dropbox, Google and Microsoft has free virtual drives. Thanks to competition between them I will have to think about backup of my files as well.
Many pips to all.
Alec
Look for reasons not to take a trade.
  • #9,712
  • May 3, 2012 3:37am May 3, 2012 3:37am
Quoting xyzxyz
Hi All..
Today trade at EU & GU..
Please u'r opinion..

Mr. Sho, where are you?

regards,
Lim
Hi Lim,
Here is my opinion about your EU trade:
I like your entry point. Pin after clear impulsive wave. However, you were selling right into demand zone. Remember? 3. Watch Sam Seiden videos to understand where the wall could be on your way of riding a trend. So, there was no room for price to go down.
Also, trend trading is better when banks and institutions are moving the price. Personally I don't trade before Frankfurt open.
I'm sure Master Sho can explain better what you are doing incorrectly. But it's just my humble opinion.
Alec.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 283 KB
Look for reasons not to take a trade.
  • #9,713
  • May 3, 2012 4:55am May 3, 2012 4:55am
Dear Kai, stevepatt, and Alec,

Thanks for u'r opinion.. there are always drawbacks.. I'll more thoroughly..

regards,
Lim
  • #9,714
  • May 3, 2012 5:09am May 3, 2012 5:09am
Dont give up.nobody knows where the market is going.Thats why we must take every trade this method gives us.Just learn to be quick in deciding whether the trade is going to work out or not.For myself i bail out way before
It hits my stoploss.

Kai

Quoting xyzxyz
Dear Kai, stevepatt, and Alec,

Thanks for u'r opinion.. there are always drawbacks.. I'll more thoroughly..

regards,
Lim
  • #9,715
  • May 3, 2012 5:32am May 3, 2012 5:32am
Quoting overseaz
Hi Lim,
Here is my opinion about your EU trade:
I like your entry point. Pin after clear impulsive wave. However, you were selling right into demand zone. Remember? 3. Watch Sam Seiden videos to understand where the wall could be on your way of riding a trend. So, there was no room for price to go down.
Also, trend trading is better when banks and institutions are moving the price. Personally I don't trade before Frankfurt open.
I'm sure Master Sho can explain better what you are doing incorrectly. But it's just my humble opinion.
Alec....
So, if the price near the supply/demand, we must wait n c, right?
  • #9,716
  • May 3, 2012 5:39am May 3, 2012 5:39am
Quoting khairul81
Dont give up.nobody knows where the market is going.Thats why we must take every trade this method gives us.Just learn to be quick in deciding whether the trade is going to work out or not.For myself i bail out way before
It hits my stoploss.

Kai
Hi Kai,
I'm not give up, never.. I was excited and it should work for my trade 4 life..

thanks Kai..

regards,
Lim
  • #9,717
  • May 3, 2012 6:41am May 3, 2012 6:41am
This Pin looks like a nice setup to me, but there is NEWS in 5-10 min

EURMinimum Bid Rate
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 20 KB
Look for reasons not to take a trade.
  • #9,718
  • May 4, 2012 4:11am May 4, 2012 4:11am
Quoting xyzxyz
So, if the price near the supply/demand, we must wait n c, right?
Yes, it's better to wait and watch the price action at that zone. Lets learn the trend setups first.
Look for reasons not to take a trade.
  • #9,719
  • May 4, 2012 5:52am May 4, 2012 5:52am
Quoting overseaz
Yes, it's better to wait and watch the price action at that zone. Lets learn the trend setups first.
Ok, thanks overseaz...

regards,
Lim
  • #9,720
  • Edited 5:05am May 5, 2012 4:54am | Edited 5:05am
Hi Lim,
Here is my taken and missed opportunities on Friday. Did you take any of those?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu8.gif Size: 283 KB
Look for reasons not to take a trade.
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