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Intraday price action trend trading

  • #9,801
  • May 11, 2012 4:44am May 11, 2012 4:44am
Supply retest.
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  • #9,802
  • May 11, 2012 4:51am May 11, 2012 4:51am
Quoting GDR3k
EURUSD plenty of resistance at the daily pivot aswell as the half number @ 1.2950.
Yea...and I trade only 1st 3 hours of London and NY. No trade for me.
See you guys at NY session
Alec
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Look for reasons not to take a trade.
  • #9,803
  • May 11, 2012 4:57am May 11, 2012 4:57am
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  • #9,804
  • Edited 5:24am May 11, 2012 5:13am | Edited 5:24am
Quoting pipmunks
Attachment
Good trade

Watch out for resistance at the half number and above at the a monthly level.
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  • #9,805
  • May 11, 2012 5:33am May 11, 2012 5:33am
If USDCAD drops this afternoon it'l be a big move IMO, this will be the 8th or so go at breakthing through this area over the past couple of months and each time its failed and dropped big, along with a double top formation on the 4hr and the high impact news releases aswell today, lets see...
  • #9,806
  • May 11, 2012 5:35am May 11, 2012 5:35am
Thats a gd move Alec,thats how we keep the odds in our favour.

Kai
Quoting overseaz
Yea...and I trade only 1st 3 hours of London and NY. No trade for me.
See you guys at NY session
Alec
  • #9,807
  • Edited 7:07am May 11, 2012 6:23am | Edited 7:07am
Quoting GDR3k
Ok, If I was to go long, I'd wait for a pullback to around 1.2929/1.2925 and wait for confirmation of a breakout north, but thats me
Got there in the end, now lets see...

Entered long @ 2933, TP hit @ 2945/daily pivot. I prefer to take little bits of the whole, instead of going for those 100+ pip moves. They all add up.
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  • #9,808
  • Edited 7:51am May 11, 2012 7:36am | Edited 7:51am
Short AUDJPY as it dropped then retraced back into resistance area
10 pip stop 20 pip TP

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Got out at 61.8 fib retracement of last wave up for +11.9 pips

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  • #9,809
  • May 11, 2012 7:42am May 11, 2012 7:42am
Quoting GDR3k
If USDCAD drops this afternoon it'l be a big move IMO, this will be the 8th or so go at breakthing through this area over the past couple of months and each time its failed and dropped big, along with a double top formation on the 4hr and the high impact news releases aswell today, lets see...
Nice catch
1H TF chart
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Look for reasons not to take a trade.
  • #9,810
  • May 11, 2012 7:51am May 11, 2012 7:51am
Quoting overseaz
Nice catch
Indeed, sell order was hit at 1.0033, TP was at the whole number of 1.0000, from the trade opening to being closed was about half a second, never made money as quick in my life, lol.

USDCAD is the only pair that I've found when it spikes, the spikes stay down/up, so its wise to have buy/sell orders placed around news like today, win win.
  • #9,811
  • May 11, 2012 8:08am May 11, 2012 8:08am
Hey guys, enjoying this thread, looking forward to contributing.
I have been trading for about 6 years now, I love price action trading, it is pure and simple, what trading should be.
  • #9,812
  • May 11, 2012 8:18am May 11, 2012 8:18am
Quoting Ajlnz
Hey guys, enjoying this thread, looking forward to contributing.
I have been trading for about 6 years now, I love price action trading, it is pure and simple, what trading should be.
Welcome
Look for reasons not to take a trade.
  • #9,813
  • May 11, 2012 8:23am May 11, 2012 8:23am
EURUSD long @ 1.25254, SL 1.2890, only a cheeky 0.10 lotsize, aiming for the sky @ 2979.
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  • #9,814
  • May 11, 2012 8:23am May 11, 2012 8:23am
Quoting Ajlnz
Hey guys, enjoying this thread, looking forward to contributing.
I have been trading for about 6 years now, I love price action trading, it is pure and simple, what trading should be.

Welcome to the thread. Feel free to contribute here, share your thought/view about trades, so we can get this market together.

Btw, anyone experiencing platform freeze during the news release ?
  • #9,815
  • Edited 8:35am May 11, 2012 8:24am | Edited 8:35am
Quoting pipmunks
Btw, anyone experiencing platform freeze during the news release ?
Not me, what broker are you using? I'm with FXPRO.
  • #9,816
  • May 11, 2012 8:30am May 11, 2012 8:30am
Quoting pipmunks
Welcome to the thread. Feel free to contribute here, share your thought/view about trades, so we can get this market together.

Btw, anyone experiencing platform freeze during the news release ?
Only very wide spread with Pepper Stone. No freezing.
Look for reasons not to take a trade.
  • #9,817
  • May 11, 2012 8:37am May 11, 2012 8:37am
Quoting Ajlnz
Hey guys, enjoying this thread, looking forward to contributing.
I have been trading for about 6 years now, I love price action trading, it is pure and simple, what trading should be.
Welcome, PA is the only way to trade IMO, I find the price moves between points (S/R levels, pivots, whole/half and quarter numbers) and is attracted to these points like flies round shit, it'l reach a level, smash through or stall then carry on, or stall and reverse.

whole/half and quarter numbers (example 1.0000, 25, 50, 75) are one of the most overlooked and often ignored forms of trading I've found, however these levels on any pair are well respected.

Good pippin'
  • #9,818
  • May 11, 2012 8:49am May 11, 2012 8:49am
Quoting GDR3k
EURUSD long @ 1.25254, SL 1.2890, only a cheeky 0.10 lotsize, aiming for the sky @ 2979.
SL moved to break even @ 1.25254. currently 18+ pips up, major news coming out in 5 minutes..
  • #9,819
  • May 11, 2012 9:06am May 11, 2012 9:06am
Thanks for the welcome.

I am calling it a night, I'm based in New Zealand so is 2am.
+4.5 (R) for today so happy with that, should have been +8 if not for the experimental trades I took, trying to get a 5 pip stop on some 5 min EUR trades.

Have fun
  • #9,820
  • May 11, 2012 9:07am May 11, 2012 9:07am
Broke my rules looking at you guys making all the money entering at Supply and Demand zones No trend setups today. Entered with nice 15M pin bar formation. Unfortunately stopped out -7. Not a big deal. Still working on trade exits. Most important thing is that I understand the idea of trading at Supply and Demand zones.
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Look for reasons not to take a trade.
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