Intraday price action trend trading

I'm off - going the gym, leaving that trade on and if I get stopped out at BE then oh well, nothing lost Have a good weekend all

Try a bigger stop loss, under a couple of support levels

Got my pips back with TL break Pin bar entry

Small stop was the idea of that trade entry
Have a good weekend

Am I late joining the party? My platform fixed now after freezing at news release.

IB breakout entry. Quick scalp +7 pips.
I'm done for this week. Have a wonderful week-end guys!

"You can use your fear as a cue to examine your trade more deeply and adjust your confidence in the idea, up or down."

"Confidence doesn’t come from an absence of fear; it comes from knowing you can perform your best in the face of stress and uncertainty."
Brett Steenbarger

See you next week.

Seems I was stopped out at break even, TP was up at 1.2995, the price moved up and touched a monthly resistance level @ 1.29567 (this would of usually been my TP) and immediately fell, nevermind.

Hi guys,
My weekend thoughts when I was analyzing trades for a month.
For those who's learning (like myself) here is a summary of my learning curve for several weeks (if somebody interested):
1) We wait for intraday trend to establish (impulsive move and pull back) and enter with PA formation if there is no Supply/Demand zone on our way riding a trend. RR is at least 1:2.
2) If it's a ranging day we will have to recognize the ranging pattern (Supply/Demand zones) and enter against the trend from the zone with PA formation. (We don't trade this at the beginning. We're just observing the price action at those zones until we are profitable trading with the intraday trend setups). This is just my plan. Some people trade only from S/D zones and against the intraday trend. It's up to you.
It's sounds easy and simple, but unfortunately it's not because one day market is really trending and will go through our identified best Supply/Demand levels and will hit our stop losses a lot.
It's fairly easy to see the important intraday zones in ranging market after the trading day came to the end. Let's work on recognizing the zones during the real time trading.
many pips to all

I am very busy. There is a lot of work i have to do, and the next weeks it doesnt get better.

But sometimes i can take a look at the market and get some trades.

Got 4 trades last friday.

Enjoy your sunday and have a good start at the next tradingweek

Hello mate, just a quick analysis of your first chart AUDCAD on why I would of waited a bit longer to get in the trade, earlier in the day the price moved down and bounced off a daily support level then moved upto the daily pivot, if you look at the 15:00 15minute candle, that is where the big move down starts, coincidentally that is the only candle from london open to touch the daily pivot level @ 1.0097 which is right under a whole number aswell, here is where I'd of got in the trade. It then dropped 100 pips to the next whole number.

Have a look into pivot levels, daily and monthly, they're well worth it, we're all here to help each other to make money, thats the aim of the game.

Thank you GDR3k. Good analysis.

I usually dont pay much attention on numbers. It is because the are everywhere. There is usually just a few pips away a "pivot", "round number", "fib level" or someting like that at the daily the H4, H1, M15...

But you are doing great. I will take a closer look. Hope with you together i can spot the important and ignore the irrelevant.

No worries, I've got a free day today so here goes...

I find whole, half and quarter numbers are well respected, along with daily support/resistance levels aswell as monthly support/resistance levels and the price moves between these points only in no particular order, here is a good example of the friday just gone with explanation on the chart for EURUSD.

The thicker purple horizontal lines on the chart are whole and half numbers (1.3000 / 1.2950), the half numbers and quarter numbers are only visible on the chart below, the thinner pink/purple lines are quarter numbers (ex 1.2925/1.2975), the thin 'dotted' grey horizontal lines are the monthly support/resistance levels, the dotted red and blue are the daily S/R levels.

In a nutshell, I counter trend trade from these levels.

As you can see the price bounces between the many support/resistance levels on the chart, from daily support upto the daily pivot before touching the half number before moving back down to a monthly support level before moving back up again, I enter only around these levels after the price has touched a level or has stalled slightly above/below it after breaking through, my TP is usually the next level up/down. I trade mainly the 5m chart and wait for the price to stall and reverse and wait for a confirmation candle then I get in or if theres a nice engulfing candle right at the level. If I enter a trade from a daily level, my TP will be the next daily level or daily pivot which ever is closer, if I'm trading from a monthly level, my TP will be the daily pivot or the next monthly level, which ever is closer and depending on direction.

Friday was a good ranging day, but it works well on any sort of day. I only trade London aswell 8am GMT to around 5pm GMT.

I'll post another example up later.

Heres another example from friday for AUDUSD.

Same as before, grey horizontal dotted lines are monthly S/R, blue and red dotted lines are daily S/R, dark purple lines are whole and half numbers, pink line is quarter numbers.

As you can see, the price respects all of these levels but in no particular order, it will reach a level and either; smash through and continue onwards, or stall then carry on, or reach a level, stall then reverse to the next level and either smash through that or stall and carry on or stall and reverse again.

For me, this is the ONLY way to trade, you have levels set and ready so when the price reaches them, you can keep an eye out for a reversal or a complete break through and make your trading decision on that.

I hope the last two posts have been helpful.

Just scalped 10 pips on GBPUSD, entered right after the engulfing candle on the 5m chart, right on/around a quarter number, TP was the monthly support 10 pips away.

Good morning guys! How are you? How was your weekend?
Started late today.
Missed opportunity: Aggressive entry after clear impulsive move. Now it's already good time to exit. Could go lower, but Demand zone is right there.

Testing Supply zone

EURUSD level to watch 1.2857

http://savepic.net/2812638m.png

Do you mean this level on 4H? Please see the chart

Yeah

I'll email you my template if you want with all the indys I use, with all the levels clearly labeled, all the S/R daily & monthly, whole half and quarter numbers, PM me if you want it