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Intraday price action trend trading

  • #9,921
  • May 18, 2012 8:58am May 18, 2012 8:58am
IB entry short from 1H Supply zone
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Look for reasons not to take a trade.
  • #9,922
  • May 21, 2012 2:14am May 21, 2012 2:14am
Pinbar short

quick one
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  • #9,923
  • May 21, 2012 3:17am May 21, 2012 3:17am
Quoting Clean Chart
Pinbar short

quick one
Hi Chris,
Good catch. Impulsive>Corrective and Pin entry. I'm glad you took the profit fast
Look for reasons not to take a trade.
  • #9,924
  • May 21, 2012 5:39am May 21, 2012 5:39am
http://cdn.memegenerator.net/instanc...x/20720438.jpg
  • #9,925
  • Edited 7:30am May 21, 2012 6:53am | Edited 7:30am
EURUSD short @ 1.27686, TP 1 pip above the daily pivot @ 1.27381.

Price was fluttering under the quarter number making a mini 'M' shape/double top so my bias was short.

Edit, I'm expecting quite a big bounce off the daily pivot should the price reach there, if PA confirms I'll be going long at that area.

CLOSED @ 1.2748, +20 PIPS
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  • #9,926
  • May 21, 2012 8:08am May 21, 2012 8:08am
Quoting GDR3k
EURUSD short @ 1.27686, TP 1 pip above the daily pivot @ 1.27381.

Price was fluttering under the quarter number making a mini 'M' shape/double top so my bias was short.

Edit, I'm expecting quite a big bounce off the daily pivot should the price reach there, if PA confirms I'll be going long at that area.

CLOSED @ 1.2748, +20 PIPS
Do you mean this level?
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Look for reasons not to take a trade.
  • #9,927
  • May 21, 2012 8:12am May 21, 2012 8:12am
1H level is almost the same with 15M level.
Let see how price will react at that zone
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Look for reasons not to take a trade.
  • #9,928
  • May 21, 2012 8:57am May 21, 2012 8:57am
Quoting overseaz
Do you mean this level?
Sorry for the late reply I've just got back from the gym.

I meant the daily pivot (the yellow line on my chart) however the price went from one quarter number (green box), through the half number, through the daily pivot down to the next quarter number (green box), it went 50 pips exactly from 1.2775 to 1.2725 before a small retrace.
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  • #9,929
  • May 21, 2012 9:16am May 21, 2012 9:16am
we may see 1.2795+ by end of today
  • #9,930
  • Edited 9:50am May 21, 2012 9:25am | Edited 9:50am
Quoting GDR3k
Sorry for the late reply I've just got back from the gym.

I meant the daily pivot (the yellow line on my chart) however the price went from one quarter number (green box), through the half number, through the daily pivot down to the next quarter number (green box), it went 50 pips exactly from 1.2775 to 1.2725 before a small retrace.
No problem my friend.
Entered on 5M and moved my stop too close and got stopped out. Reentered when I saw engulfing bullish pin bar. Moved stop to BE already. Now I can see that if I enter on 15M with retracement, my entry would be a lot better
Update: Closed +22. It might go higher, but I like RR 1:2
Price can come down to 10 sma and go higher. Will see
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Look for reasons not to take a trade.
  • #9,931
  • May 21, 2012 9:30am May 21, 2012 9:30am
Quoting overseaz
No problem my friend.
Entered on 5M and moved my stop too close and got stopped out. Reentered when I saw engulfing bullish pin bar. Moved stop to BE already. Now I can see that if I enter on 15M with retracement, my entry would be a lot better
Looks like I've missed this trade, I don't like getting in after the start of a move so I'll sit this move out.

If I was at the PC I'd of got in the trade long after the 2nd bullish 5m candle right after the touch of 1.2725 and I'd have my TP @ 1.27745 (another quarter number to quarter number, happens alot), and rightly so my SL would be at break even right now.

I've got a good feeling the price will hit 1.2795, but as its monday and not much going on I'd stick to my original TP.

Good luck.
  • #9,932
  • May 21, 2012 9:48am May 21, 2012 9:48am
watch out price may be changing direction, keep an eye on the 1m chart
  • #9,933
  • May 21, 2012 9:58am May 21, 2012 9:58am
Quoting GDR3k
watch out price may be changing direction, keep an eye on the 1m chart
I'm trying not to look at 5M and enter on 15M. If I start looking at 1M, I would go crazy
Look for reasons not to take a trade.
  • #9,934
  • May 21, 2012 9:59am May 21, 2012 9:59am
Quoting overseaz
I'm trying not to look at 5M and enter on 15M. If I start looking at 1M, I would go crazy
The higher timeframes are just a representation of the lower

Seems your TP was hit, good job

Will it hit 1.2775 and above? YES

I'll be looking for a counter trend trade here if theres a decent confirmation or at the 1.2794/whole number area.
  • #9,935
  • May 21, 2012 10:12am May 21, 2012 10:12am
Quoting GDR3k
The higher timeframes are just a representation of the lower

Seems your TP was hit, good job

Will it hit 1.2775 and above? YES

I'll be looking for a counter trend trade here if theres a decent confirmation or at the 1.2794/whole number area.
Thanks. Sometimes I want to know how to add to my position. That will be another subject to learn after I master exits and reversals.
Look for reasons not to take a trade.
  • #9,936
  • Edited 11:14am May 21, 2012 10:22am | Edited 11:14am
Cheeky one, EURUSD short @ 1.27682, TP 1.27505. low risk.

stopped -15 pips
  • #9,937
  • Edited 11:40am May 21, 2012 11:20am | Edited 11:40am
IB Breakout
Update: Closed +18. It's late. See you guys tomorrow.
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Look for reasons not to take a trade.
  • #9,938
  • May 21, 2012 11:48am May 21, 2012 11:48am
Quoting GDR3k
Cheeky one, EURUSD short @ 1.27682, TP 1.27505. low risk.

stopped -15 pips
If I play against the trend I catch few of those. Still learning to play reversals from S/D zones. Today was couple of minuses before I got it right. I'll try to put all my trades here at the end of London and NY session.
Take it easy.
Alec
Look for reasons not to take a trade.
  • #9,939
  • May 21, 2012 3:19pm May 21, 2012 3:19pm
Quoting overseaz
If I play against the trend I catch few of those. Still learning to play reversals from S/D zones. Today was couple of minuses before I got it right. I'll try to put all my trades here at the end of London and NY session.
Take it easy.
Alec
Was quite silly of me really, 9/10 my first instinct is right and I'll be sticking to it from now on, I said it would hit 1.2795 and higher and it did as I could see a classic EURUSD move forming.

Oh well, theres always tomorrow
  • #9,940
  • Edited 2:18am May 22, 2012 2:07am | Edited 2:18am
New day, lets make some money....

EURUSD, I'l be looking to short around this area, price is currently inbetween the daily pivot and under the whole number of 1.28, or if it breaks through, up at 1.2826 area/quarter number/daily resistance/mid pivot
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